What kinds of student financial aid are available?

Because price is important to many students and parents, here is some basic financial aid information:

  • Grants do not need to be repaid. Some are awarded based on financial need; others recognize academic ability or performance in areas such as music, or athletics.
  • There are many scholarships sponsored by foundations, corporations, or other organizations.
  • Loans must be repaid, usually starting after graduation. Many education loans feature low interest rates and generous payback schedules.

Subsidized Loans
Subsidized loans are awarded to students based on financial need. Students who receive a subsidized loan will not be charged interest before repayment of the loan begins. The federal government subsidizes the interest of the loan during the time the student is attending college.onsors a number of student loan programs, as do some private lenders and colleges themselves.

Unsubsidized Loans
Unsubsidized loans are not awarded on financial need. Students who receive an unsubsidized loan will be charged interest from the time the money is disbursed and continue to accrue interest until the loan is paid in full. The interest is also capitalized, which means the student will pay interest on the amount of interest that has already accrued.

Jobs on campus or during summer breaks provide income to offset expenses and can be important sources of experience.

A student sitting at a computer and holding his hand up in a peace sign

special programs

Indiana offers two special programs for those seeking financial aid: 
  • TWENTY-FIRST CENTURY SCHOLARS PROGRAM provides substantial grants to students from low and moderate-income families.
  • INDIANA FAMILY COLLEGE SAVING PLAN is an innovative state program that provides significant tax benefits to families who save for their children’s education.
  • Parents or Guardians will need to follow the instructions in the Auto-enrollment letter they were sent by ScholarTrack -OR- create a Parent Account in ScholarTrack to search for your student.  If your student is not found, contact your student's School Counselor, their ETS Outreach Advisor, or CALL  21st Century Scholars at 1-888-528-4719 BEFORE JUNE 30th of their 8TH GRADE YEAR. Applications must be received by that date to be considered for 21st Century Scholars.
Four students standing together in a classroom

have questions about the financial aid?

Here are some questions and web links to help you.

Scholarship Opportunities

Please check carefully the data site that collects personal financial data.                                               

Minority Scholarships:
Black Excel College Help Network
Hispanic Scholarship Fund
Gates Millenium Scholars Program

Test Prep Site

Ready to Begin?