Financial Aid

Financial Aid

The government and other organizations make millions of dollars available each year to help families pay for college. In order to be eligible for these funds, you need to complete the Free Application for Federal Student Aid.

The information you and your student provide on the FAFSA helps colleges determine the type(s) and amount of financial aid you are eligible to receive through federal, state, and university sources. FAFSAs must be filed online. Families may begin to file their FAFSA after January 1.

Submit your completed FAFSA online to the Federal Processor. Because funding in some programs is limited, apply as soon as possible after January 1 to increase your chances of receiving all the aid for which you qualify. Also, make sure that you check whether your state has a deadline for filing. Indiana residents must file by March 10.

Results will automatically be sent to any colleges you indicate on your FAFSA code. All you need is the OE code from each school. Indiana Tech’s, OE code is #001805. Each year Indiana Tech will issue an updated financial aid package based upon your family’s FAFSA results. Please keep in mind that you must file the FAFSA every year that your student is in school.

Your award letter could cover a number of programs listed below. Use this list to be sure you’ve researched the most common sources of aid.

Scholarships

Most scholarships do not require repayment. These can be awarded based on merit but also can be awarded based on financial need. Criteria such as academic achievement or athletic ability may apply. Here are some common sources of scholarships:

• Indiana Tech university scholarships, athletic scholarships, and endowment funds.
• Hometown associations, clubs, or other private sources such as Dollars for Scholars. 

Federal/State Grants

Like scholarships, grants do not require repayment. Usually they are awarded based on financial need or academic achievement, rather than special talents. Indiana residents are reminded that your FAFSA must be at the Federal Processor by March 10 in order to apply for our Indiana state grant programs. Please find below some common grants that are available to students. Detailed information on these grants can be found on our web site.

• Federal Pell Grants
• The Federal Supplemental Educational Opportunity Grant (SEOG)
• Special grant programs are available to veterans or special need students.
• Academic Competitiveness Grant (ACG)
• The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant)

Educational Loans

Loans are legal obligations that must be repaid. We encourage students to exhaust all sources of aid before applying for loans. Always remember to borrow only what you need. Listed below are common loans available to students and their parents. Additional information about loans may be found online.

• Federal Perkins Loans
• Subsidized Federal Stafford Loans
• Unsubsidized Federal Stafford Loans
• Federal PLUS Loans

Employment Programs

These programs allow students to earn a paycheck while enrolled as a student.

• Federal Work-Study is based on financial need, as determined by your FAFSA information, and is coordinated through Indiana Tech.
• Upperclassmen can apply for paid internships. These provide students with work experience and academic credit toward their degree.