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Financial Aid Walkthrough

Indiana Tech’s financial aid walkthrough is to guide students and their families through the financial aid process. We know that for some families this can be a confusing and even a frustrating process if you haven’t done it before, therefore we have provided information that will help you understand this better.

1
Getting Started

Apply to Indiana Tech

In order to be considered for financial aid at Indiana Tech, you must apply and be accepted into one of these degree-seeking programs:

We cannot consider you for financial aid until you have been formally accepted.

Prepare to complete your FAFSA online

You’ll need to file a FAFSA, or Free Application for Federal Student Aid, to be considered for financial aid.

  • The FSA ID ― a username and password ― has replaced the Federal Student Aid PIN and must be used to log in to certain U.S. Department of Education websites. Your FSA ID confirms your identity when you access your financial aid information and electronically sign Federal Student Aid documents.
2
The FAFSA & Verification Process

Complete your FAFSA

To complete your FAFSA, visit studentaid.gov/fafsa. Make sure you enter Indiana Tech’s school code – 001805 – so we can receive your financial aid eligibility information.

  • To be considered for maximum aid, complete your FAFSA by April 15th each year.
  • If you need assistance completing your FAFSA, call us at 800.937.2448, ext. 2334.

Review your student aid report

You will need to review your student aid report (FAFSA results) once you receive it. Make sure to read it carefully.

If there are issues with any information on your FAFSA, comments will be listed on the Student Aid Report. Make all necessary corrections to your FAFSA immediately.

You may be selected for the verification process

You may be selected for the verification process, which requires you to submit additional documentation.

  • Being selected does not mean you’ve done anything wrong, it is a process to improve accuracy of information submitted on the FAFSA and ensure accurate awarding of Federal Student Aid funds.
  • If you are selected, Indiana Tech will notify you by email and inform you of the additional documentation needed.
  • Verification will be completed within 7-10 business days from the date all documents are successfully received.
3
Following Up

Receive your financial aid offer

Indiana Tech will then process your FAFSA to determine that it is complete and also determine your financial aid award amounts. Once your award amounts have been determined, we will notify you by email that this information is available to review on your financial aid portal.

  • Financial aid offers are typically available within 5-7 business days from the date that your FAFSA is received and reviewed for completion.

Log onto your financial aid portal

From the financial aid portal (my.IndianaTech), you can review, accept and/or reduce or decline your financial aid awards. Also check your to–do list for any missing documentation that needs to be completed and turned in (ex: master promissory note, entrance counseling, financial aid policy agreement).

Turn in all remaining documents in a timely manner

If you have any documents outstanding after receiving your award letter, turn them in right away. Failure to do so may result in the loss of financial aid.

Consider additional financial resources

If you need additional resources to cover your cost of attendance, there are several options including private alternative student loans, Parent PLUS loans for dependent students, and payment plans available through the Business Office.

4
Once You’ve Received Aid

Go to class

You cannot receive financial aid for classes you don’t go to. Don’t get stuck with a bill you can’t afford; Go to class, study hard and do the best you can.

Receive your financial aid

Financial aid will be disbursed to student accounts shortly after tuition has been billed for current classes.

  • Student account billing typically occurs during the third week of class. 25% of the student’s semester loan funds and applicable Pell Grant funds are posted to the student’s account.
  • For Day school students, this process happens at one time since all coursework is locked in at the beginning of the semester.
  • For all others, this process happens once per session and is dependent on course load.
  • If a student is enrolled in more than one three-credit hour course in each session, funds are prorated accordingly.
  • State grants (Freedom of Choice and 21st Century) are posted after 12 credit hours have been billed.

Receive your financial aid refund

Refunds are distributed to students within 14 business days after account balances have been satisfied and a credit balance appears on the account. Refunds are sent out every Tuesday and Friday and credited to student’s selected refund preference with BankMobile Disbursements, a technology solution, powered by BMTX, Inc.  For more information, please visit BankMobile Disbursements Refund Choices.

Learn

Certain standards must be made each semester in order to continue to receive Federal aid. Students must achieve a certain GPA, complete a percentage of courses they are enrolled in, and not continue to take courses over a percentage needed to graduate.

Please refer to our satisfactory academic progress page for more details.

Start the process again next year

The financial aid process is year specific, meaning it must be completed for each year of schooling you are requesting aid for.