Right to Know
According to federal regulations, public institutions must disclose certain information to prospective and enrolled students, parents, and employees. Available disclosures and contact information can be found in Right to Know.
Financial aid at IU Kokomo is based upon financial need and/or scholastic merit. The Office of Financial Aid and Scholarships administers federal, state, university and private funds. All financial aid, except work-study, is disbursed by the Office of Student Accounts.
You can check the status of your financial aid awards by visiting OneStart at www.onestart.iu.edu.
Academic Eligibility Requirements
To be considered for most types of financial aid, you must be enrolled as at least a half-time student in a program that leads to a certificate or degree. Academic progress of students is monitored in compliance with federal requirements. If you fail to complete courses with a passing grade, or have withdrawals, incompletes or repeat courses, you may expect to have financial aid adjusted or terminated. Students receiving aid should contact the Office of Scholarships and Financial Aid before dropping any classes.
The Free Application for Federal Student Aid (FAFSA) must be received at the Department of Education by March 10 in order to be eligible for awards by the state of Indiana for the following academic year. The Office of Financial Aid and Scholarships will make FAFSA worksheets available at the office. Financial aid applications received after March 10 will not be considered for state awards but may still be eligible for federal and university awards.
The FAFSA is required to recieve any type financial aid, including Parent Plus loans. You are encouraged to electronically transmit your FAFSA ont the FAFSA-on-the-Web at www.fafsa.ed.gov. The IU Kokomo school code is 001814.
Repayment of Financial Aid Funds
In order for you to remain eligible for the financial aid you may have received, you must complete the classes for which you received the financial aid. The Department of Education has instituted a policy concerning repayment of unearned financial aid funds. Financial aid recipients who stop attending classes or formally withdraw from all classes may be required to repay the amount of unearned financial aid funds.
For those students who receive financial aid awards from the state of Indiana, full-time status (or half-time for part-time grants) must be maintained throughout the university’s refund periods in order to avoid full cancellation of the state award(s).
Financial Aid Consequences for Nonattendance
Indiana University Kokomo has an FN grade policy. If a student has either never attended (FNN) or stopped attending (FN) one or more of their classes, the instructor is required to report that information to the Office of the Registrar when grades become official. This information is also provided to the Office of Financial Aid and Scholarships. As a result of nonattendance, your financial aid awards may be reduced or cancelled. In addition to having your awards reduced or cancelled, you will receive a grade of “F” for the applicable classes. Additionally, if the Office of Financial Aid and Scholarships finds that you have either never attended or stopped attending any class during a semester, your financial aid eligibility may be terminated. If you cannot attend a class, you must formally drop the class to avoid a grade of “F”.
During the process of dropping a class, you will be asked to speak with the financial aid office. It is always the student’s responsibility to obtain information regarding the financial aid consequences of the withdrawal. This is particularly important if the drop process is not being completed in person.