Steps for Financial Aid
1. Obtaining your PIN....
All students and parents of dependent students should request a PIN online at www.pin.ed.gov. Your PIN remains the same from year to year, so keep it in a safe place and never give it to anyone. With individual PINs, you and your parent can electronically sign your online FAFSA, making the application process simpler and faster.
2. *Complete the Free Application for Federal Student Aid (FAFSA) to be considered for the following financial aid programs:
- Grants:
- Pell
- SEOG
- LEAP, SLEAP
- Loans:
- Federal Direct Loans-Subsidized and Unsubsidized
- Federal Perkins Loan
- Parent Loan for Undergraduate
- Graduate PLUS Loans
- Federal Work Study
- On and Off campus Jobs
- Special Nonresident Tuition Waiver (SNRW)
*Items needed to complete the FAFSA
Can I be considered independent?
3. FAFSA Follow-up:
If you provide your email address on the FAFSA, you'll receive an email link to your processed FAFSA information on the web in approximately 2-4 weeks. Otherwise, your Student Aid report will arrive in the mail in 6-8 weeks. Review carefully. Corrections may be made using your PIN at www.fafsa.ed.gov
4. Respond Promptly
Read all communications received from the Financial Aid Office and provide any requested documentation. These communication will be via email with all student for whom the University has a valid email address. E-mails can be updated through the student's MyISU.
Respond promptly to any additional request for information from the ISU Office of Financial Aid.
5. Review Your Award Letter
Review your Award Letter when sent to you by email or by postal mail if no email address is available. It will indicate the types and amounts of aid you are eligible to receive. Review your awards. There is no need to accept your award as it is assumed "accepted". You will only need to decline awards as indicated by your award letter.
If you are a first time Direct Loan borrower at ISU, you will need to complete the Entrance Counseling at www.dl.ed.gov and a master promissory note at http://dlenote.ed.gov. Links are also provided in your email award letter.
If you are receiving a Perkins loan, additional information will be sent to you by the Financial Services Office or call 282-2292.
6. Pay Fees/Refund Checks....
Finalize fee payment by signing your TranPay and returning it to the Financial Services Office prior to each semester.
- If you sign a TranPay by the Financial Services priority deadline - change checks are mail 10 day prior to the first day of class for fall and spring semesters (5 days prior for summer semester).
- Or you may attend In-Person Registration and Fee payment to sign a TranPay and receive your change check. Contact Financial Services for these dates (282-2511).
All Financial aid awards, except Work Study, are applied to your university account.
You will get your money if ALL of the following are true...
- You completed a FAFSA for the same year you are applying for funds and determined eligible
- You have no outstanding document requests or "Holds" on your account
- Summer students with Satisfactory Academic Progress Holds will have their academic records reviewed before fall aid is disbursed.
- If you are accepting loans for first time at ISU, you must complete Online Loan Entrance Counseling session and loan Master Promissory Note for the Direct Loans .
- You have completed a Perkins Promissory Note and questionnaire if you were awarded and are accepting a Perkins Loan. You must also be in 6 credits to receive Perkins.
- You have been officially admitted to the university.
- You are registered for enough credits for the type of aid you will be receiving
and are determined eligible for.
- At least half-time enrollment for Direct Student Loans
- 6 or more credits for undergraduate and applied technology students
- 5 or more graduate credits for graduate students
- 12 or more credits to receive the full amount of Pell Grants
you qualify for
- Pell Grants are reduced when you are enrolled in fewer than 12 credits
- At least 12 credit for disbursement of ACG and SMART Grants and still in eligible degree.
- At least half-time enrollment for Direct Student Loans
What you will need to complete the FAFSA....
- ISU School Code 001620 (All locations use this number)
- Your Social Security card and Driver's license
- If dependent, Social Security numbers and dates of birth for parent(s) providing income information on your FAFSA.
- W-2 Forms and records of money earned in prior year
- Prior year's U.S. income tax return (IRS Form 1040, 1040A, 1040EZ or 1040 Telefile for you, your spouse (if married), and parents (if you are a dependent student)
- Records of other untaxed income received in prior year such as welfare, Social Security, TANF, TAFI, Child Support, or Veteran's Benefits
- Current bank statements
- Business and farm records
- Records of stocks, bonds, CD's, and other investments
- Your Alien Registration card, if you are not a U.S. Citizen
- You/your parent's U.S. Dept. of Ed. PIN if filing online
You're considered independent if....
-
You are 24 years of age or older.
- (must have been born before January 1, 1982 for 2005/2006 school year OR
- must have been born before January 1, 1983 for 2006/2007 school year OR)
- You are married when you apply OR
- At the beginning of the application school year, will you be working on a master's or doctorate program OR
- You have children that receive more than half of their support from you OR
- You have dependents other than your children or spouse that live with you and receive more than half of their support from you, now and through June 30 OR
- Both parents are deceased or if you are/were (until age 18) a ward/dependent of the court OR
- You are a veteran of the U.S. Armed Force
Need help? FAFSA Application assistance is available
in the
Financial Aid Office Computer Lab.