The deadline for the IUPUC Donor Funded Scholarship Application
What is March 10
100
Application you complete to receive financial aid
What is the Free Application for Federal Student Aid (FAFSA)
100
Who is the lender of direct loans (subsidized/unsubsidized) and also the Parent Plus loan.
What is the Department of Education. A Servicer is a company that takes over the loans and will process your payments for the loan when in repayment (Salliemae, Nelnet, Great Lakes, etc.)
100
"Educational Expenses." This can include (but not limited to) tuition, fees, books, housing (rent, mortgage, utilities), transportation (car payment, gas, insurance), personal expenses.
What is what you can spend your refund on
100
The fee to complete the FAFSA
What is $0 (it's FREE Application for Federal Student Aid)
200
The name of the Bartholomew County Community Foundation
What is Heritage Fund (scholarships available October 1 - January 8th). Have a number of scholarships for returning or continuing students.
200
Loan my parent can apply for if I am a dependent student
What is the Parent Plus Loan through studentloans.gov (7.9% interest, if denied loan student is eligible for additional direct loans)
200
When my financial aid & scholarships will post to my IU bursar account
What is 10 days before YOUR first day of classes.
200
21st Century Scholars, Child of a Disabled Veteran Benefit, Frank O'Bannon, and some scholarships (depending on the donor intent)
What is Aid that can only be applied to tuition/fees (cannot be refunded to a student).
Federal Aid (student loans & Pell Grant) can be refunded to a student. Scholarships are up to the donor if they can be refunded.
200
The tuition/fees to attend IUPUC per academic year for 15 credit hour
What is $8,831
300
An account that allows me to contribute $600 yearly for 2 years or $300 yearly for 4 years that has a 3-1 match from the state to use for educational expenses, with the only requirement being meeting income guidelines and completing 8 hours of financial literacy training (THIS CLASS COUNTS)
What is Individual Development Account (IDA)
300
When my Direct Loan goes into repayment
What is 6 months after I graduate or stop attending school (fall below 6 credit hours as an undergraduate)
300
When I will see my refund in my bank account
What is 2 business days (with direct deposit: set up in One.iu) AFTER the refund is issued. Checks are mailed out of Indy on Tuesday and Thursday's.
300
Standard: Equal payments for 10 years, minimum payment $50
Extended: More than $30K in debt, up to 25 years repayment, lower monthly payments
Graduated: Start with lower payments that increase over time & 10 year repayment
Special: income-based repayment, payments for 25 years (write off remaining balance) & loan forgiveness for public service & teachers
What is Different Loan Repayment Options
300
Loan you can apply for through a lender of your choice. Interest rate will go off of your credit (might need co-signer). Ask a lot of questions (when repayment begins, interest fixed or variable, etc.)
What is a private loan
400
Community foundations, IUPUC donor funded scholarships, churches, banks, employers, online, academic advisors, IU email account, etc.
What is where to find scholarships
400
The 2 different types of Direct Loans (Loans offered to me as an outcome of the FAFSA)
What is Subsidized & Unsubsidized Loans
400
A cap on the financial aid that you can receive (budget set per university)
What is Cost of Attendance
400
Reasons why I wouldn't complete the FAFSA.
What is NONE!!! Everyone should complete the FAFSA (even if paying out of pocket, not eligible for grants, receiving GI Bill, etc.).
400
An educational savings account that you can set up that offers a 20% tax credit up to $1,000, and attractive investment options.
What is a 529 plan (College Choice 529)
500
Helpful tips for scholarship applications (don't have to write down)
What is read & re-read, have someone else proofread, fill in ALL the blanks, brag about yourself, list ALL volunteer involvement (church, community, school, etc.), apply for any and all scholarships you think you qualify for.
500
The interest rate on Direct Loans
What is 4.29% for 15/16 academic year (government pays the interest on the subsidized loans while in school)
500
Formula determined by the government that a student (and parents if applicable) can contribute towards cost of attendance)....NOT WHAT A STUDENT OWES THE UNIVERSITY
What is Estimated Family Contribution
500
Loans the student is responsible for, regardless their age
What is ALL of them (except Parent Plus Loan)
500
The most expensive college in the US to attend.
What is Sarah Lawrence College ($61,236 per year, Tuition/Fees/Room/Board)