Graduate Financial Aid

Contact the Financial Aid Office

Accessing Your Federal Direct Loan Eligibility

Step 1: File a FAFSA

Graduate Counseling Students must file a FAFSA to receive Federal Loans. You must complete a FAFSA annually at before requesting your Unsubsidized Loan. 

Step 2: Receive your Federal Unsubsidized Loan

Complete these steps:

  1. Complete your Graduate Entrance Counseling at (this only needs to be completed once while attending IWU as a Graduate student).
  2. Complete your Master Promissory Note at (this only needs to be completed once while attending IWU as a Graduate student).
  3. Request your Federal Direct Unsubsidized Loan at (this must be submitted annually)

Step 3: Changes to Enrollment

You must be entrolled at least half-time to receive a Graduate Unsubsidized Loan. This is 5 credit hours for IWU Graduate purposes. If you do not enroll at least half-time, you will not be eligible for your Unsubsidized Loan.

Step 4: Award Letter

Once we have received your FAFSA and you are enrolled at IWU, you will receive an award letter in the mail outlining your loan eligibility.

Additional Helpful Information

If you have been notified by your graduate department that you have been selected to receive a graduate scholarship and do not see this listed on your award letter, please contact your department and ask them to notify our office of your eligibility at Our office must be notified annually of your scholarship eligibility. You will receive a revised award email once we process your scholarship information.

All funds that have been accepted will disburse to your student account 5-10 business days before the beginning of the term.

Student refunds are processed by Student Account Services at IWU. To receive a refund, email and include your student ID number and your request for your refund. If you would like to sign up for direct deposit, please follow the instructions under "Sign Up for Direct Deposit." Please sign up for direct deposit at least two weeks in advance to avoid a delay in your deposit.

  1. Log in to the IWU Portal
  2. Access "Data Connect" on the far left hand column
  3. Select "Residential Students" then "Financial Information", then "Bank Info-ACCTS Pay Only."
  4. Enter your bank information. Read the "Terms and Conditions" information, then select "I Agree" and click submit.
  5. You should receive a confirmation email immediately. Please verify the information you entered is correct.
  6. Bank information will be verified by IWU before it is active. This may take 2-3 weeks. Please sign up early to avoid a delay in your refund. It is possible that you will see a zero dollar amount listed on your bank account from IWU as part of the verification process. This is normal and is part of the verification of your bank account.

You have the option to purchase books through the IWU bookstore and charge them to your account, or  you may purchase your books online. Check with your advisor to make sure that you have an accurage schedule outlining the classes and books you need.

If you have borrowed more money than you need and do not want to receive a refund, please email our office (using the contact information on this page) and provide us with the exact amount of loan funds you wish to return.

Your financial aid is proccesed in the IWU-Marion Financial Aid Office. If you have any questions on your Financial Aid Award, please email or call 765-677-2116.

If you need additional loan funds, you may qualify for a Graduate PLUS Loan or a Private Educational Loan. Please contact our office at for additional information.

Federal Direct Loan Request Process

To complete the entire Federal Direct Loan Process, you will need to:

  • Complete your Loan Entrance Counseling (LEC)
  • Sign your Master Promissory Note (MPN)
  • Accept your Direct Loan offer

To complete your Loan Entrance Counseling/Master Promissory Note:

  • Log in to using your FSA user ID and password
  • Select "Complete Loan Counseling" or "Complete a Loan Agreement"
  • Choose the option for Direct Loans, and then select "Subsidized/Unsubsidized Loans"
  • Be sure to list IWU's school code (001822) so we will be notified when this is completed

To accept your Direct Loan offer:

  • Sign in to
  • Select the "Home" icon, then choose "Financial Aid Home"
  • Click on the hyperlink to "Review and sign your Financial Aid Award Letter"
  • Review and accept your loan offer
    • To reduce your loan amount, click on the offered amount any type in the amount you would like to borrow
  • Check the box to the left and "Accept"

You must be enrolled in at least 5 required credit hours per term to receive Direct Loans