Types of Financial Aid

Loans, Scholarships and Grants

Student Loan Information

All students, in good academic standing, enrolled in six or more credit hours in a degree seeking program, file the Free Application for Federal Student Aid, and provide all requested documents to the financial aid office if requested, is guaranteed student loans until they meet the maximum aggregate amounts set by the Department of Education.

To apply for financial aid, please visit How to Apply.

Scholarships

  • Monetary awards available from IU Kokomo or through external sources
  • Determined by academic achievement and/or financial need
  • Applied directly to your college costs

IU Kokomo scholarships are funded by private donors, businesses, and industries, as well as by friends and alumni of Indiana University. Recipients are selected based on a variety of criteria including academic performance and financial need.

FastWeb is the one of the largest and most complete scholarship search sites on the Internet. It provides a searchable database of more than a million private sector scholarships, fellowships, grants, and student loans.

Grants

Grants are need-based awards from the federal, state government, or IU Kokomo.

  • The Federal Pell Grant is awarded based on receipt of the FAFSA and determination if the student's Expected Family Contribution (EFC) and enrollment level meets the award eligibility criteria. Enrollment is monitored and Federal Pell Grants awards are adjusted or cancelled based on enrollment monitoring at the semester census date (e.g. end of the first week/end of 100 percent refund period of the fall or spring semester).
  • The Federal Supplemental Educational Grants (FSEOG) is awarded based receipt of the FAFSA and verification of Federal Pell Grant eligibility, exceptional financial need (EFC = '0'), and confirmation the recipient has not received a bachelor's degree. Priority consideration for FSEOG awards is given to students that meet the FAFSA Priority Application Deadline and funding for this program is limited. FSEOG grants are awarded in the amount of $300. Enrollment is monitored and a student that is no longer eligible for a Federal Pell Grant based on monitoring at the semester census date (e.g. end of the first week/end of 100 percent refund period of the fall or spring semester) is subject to grant cancellation.
  • IU Kokomo Grants are awarded based on confirmation of Federal Pell Grant eligibility and enrollment at least half-time. Priority consideration is given to students that meet the FAFSA Priority Application Deadline and funding for this program is limited. Student enrollment is monitored and IU Kokomo Grants awards are adjusted or cancelled based on enrollment monitoring at the semester census date (e.g. end of the 1st week/end of 100 percent refund period for the fall or spring semester).

State Aid from the Indiana Commission for Higher Education Division of Student Financial Aid (SFA) – Formerly SSACI

  • SFA determines eligibility for the Frank O'Bannon Grant, Twenty-First Century Scholars Grant, the Indiana National Guard Supplemental Grant, the Mitch Daniels Early Graduation Scholarship, and the Part-Time Grant. The Free Application for Federal Student Aid (FAFSA) is the core document to apply for SFA grants.
  • There are four (4) SFA General Eligibility Requirements for all full-time state grants and scholarships:
    1. You must show financial need according to program rules;
    2. Your FAFSA must be received by the federal processor by March 10 and be error-free by May 15 each year;
    3. You and your parent(s), if you are a dependent student, must be legal residents of Indiana by December 31st the year prior to applying and remain so during the academic year; and
    4. You must be an undergraduate working on an associate or first bachelor degree, (no certificate programs) maintain Satisfactory Academic Progress (SAP), not be in default or overpayment, and meet the specific requirements of your chosen college.
  • SFA award notifications are sent to IUK when a student lists IUK as the first college choice on the FAFSA. To update your school choice, please make sure to have our school code (001814) on the FAFSA and visit eStudent to update your school code with the state. SFA grant amounts are available at eStudent; the maximum you can receive is based on enrollment in 15 credit hours for the fall semester and 15 credit hours for the spring semester during the aid year.
  • The SFA award eligibility period is limited to eight semesters within a maximum of eight years. A student must be enrolled at least full-time (12 semester hours) on the SFA census date (the end of the 25% refund period & end of the fourth week of the semester). If a student has dropped below full-time, SFA awards are cancelled and the student's Bursar bill will reflect an amount due that is equal to the cancelled SFA award.


Frank O'Bannon Grant/Higher Education Award

  • The Frank O'Bannon Grant is need based and the amount of the award varies each year based on funding levels and the number of eligible students. The amount of an O'Bannon Grant is calculated based on Free Application for Federal Student Aid (FAFSA) information and the type of Indiana high school diploma earned by the student (Academic Honors, Core 40, or General).
  • Refer to the box below to see the 2014-15 Frank O’Bannon Grant awarding charts. Note that the state financial aid program also awards incentive bonuses for academic performance. Students may be eligible for an increased base award amount by completing at least 30/60/90 credit hours by the end of the first/second/third year in college. Additional award incentives may be earned based on academic performance in the previous year, by maintaining a cumulative GPA of at least 3.0, earning an associate degree before enrolling in a bachelor degree program or complete at least 39/72 credit hours by the end of the first/second year in college. Please visit Indiana's Division of Student Financial Aid website for more information about determining state financial aid award.
  • To qualify for state grant consideration the applicant must:
    • Be an Indiana resident;
    • Be a U.S. Citizen or eligible noncitizen
    • Be a high school graduate or hold a GED
    • Attend, or plan to attend, an eligible Indiana college or university
    • Be enrolled, or plan to enroll, in a course of study leading to an associates or first bachelor's degree;
    • Be a full-time student, or plan to enroll as a full-time student. (The state defines full-time as at least 12 credit hours per term); and
    • File a Free Application for Federal Student Aid (FAFSA) by March 10 of the year proceeding the academic year the applicant plans to enroll.
  • The state award eligibility period is limited to eight semesters within a maximum of eight years. A student must be full-time (12 semester hours) on the state award “census” date (the end of the 25% refund period & end of the fourth week of the semester). If a student has dropped below full-time before the census date, state awards are cancelled in full and the student's bursar account will reflect an amount due that is equal to the cancelled award.


Frank O’Bannon Grant Renewal

  • Due to state regulations, completing at least 24 credit hours per year is required of students who initially enrolled and began receiving financial aid from the state of Indiana on or after the start of the Fall 2013 semester. Therefore, in order to continue receiving Frank O'Bannon funds from one year to the next students must complete at least 24 credit hours by the end of their first year in college, 48 credit hours by the end of their second year in college, and 72 credit hours by the end of their third year in college. If a student fails to successfully complete at least 24/48/72 credit hours during the appropriate timeframe, he or she will not be eligible for this award the following year. Students who attended and received financial aid from the state of Indiana prior to the Fall 2013 semester will not be held to the new credit hour legislation.

Twenty-First Century Award

  • The Indiana Twenty-First Century Scholarship Program is a need-based state grant program. Awards are made to students who met eligibility standards and enrolled as a Twenty-First Century Scholars in the 7th or 8th grade. Additionally, Twenty-First Scholar Award recipients must meet the Twenty-First Scholars Program Pledge. The amount of a Twenty-First Century Award is calculated based on the student's tuition and general fee (IUPUI) or tuition and technology fee (IUPUC). If the student has no other type of fee remission, the Twenty-First Century Award will cover the student's tuition fee up to 15 credits per semester. If a portion of the student's tuition fee is paid by another fee remission (i.e. tuition remission), the Twenty-First Century Award will cover up to 15 credit hours of the remaining tuition balance. If a student has a full fee remission for tuition fees, the student is not eligible for the Twenty-First Century Award.
  • To qualify for state grant consideration the applicant must:
    • Be an Indiana resident;
    • Be a U.S. Citizen or eligible noncitizen
    • Be a high school graduate or hold a GED
    • Attend, or plan to attend, an eligible Indiana college or university
    • Be enrolled, or plan to enroll, in a course of study leading to an associates or first bachelors degree;
    • Be a full-time student, or plan to enroll as a full-time student. (The state defines full-time as at least 12 credit hours per term); and
    • File a Free Application for Federal Student Aid (FAFSA) by March 10 of the year proceeding the academic year the applicant plans to enroll.


21st Century Scholarship Award Renewal

  • Students who complete at least 30 credit hours per year have the best chance to graduate on-time. Therefore, due to state regulations, completing 30 credit hours per year is required of 21st Century Scholars who initially enrolled and began receiving financial aid from the state of Indiana on or after the start of the Fall 2013 semester. In order to continue receiving 21st Century funds from one year to the next students must complete at least 30 credit hours by the end of their first year in college, 60 credit hours by the end of their second year in college, and 90 credit hours by the end of their third year in college. (Credits successfully completed during high school such as dual and AP credits do count towards the total completion requirement.) If a student fails to successfully complete 30/60/90 credit hours but does complete at least 24/48/72 credit hours within the appropriate timeframe, the student may be awarded a reduced state financial aid award.
  • Note: Students that attended and received financial aid from the state of Indiana prior to the Fall 2013 semester will not be held to the new credit hour legislation to continue receiving this award.

Indiana National Guard Supplemental Grant

  • The Indiana National Guard Supplemental Grant (NGSG) is a grant that guarantees up to 100% of certain tuition costs up to 15 credits a semester for eligible members of the Indiana Air and Army National Guard; the National Guard Supplemental Grant covers only tuition and the general fee (IUPUI) and technology fee (IUPUC) and does not cover other expenses such as room and board or textbooks. It is subject to available funds.
    • To qualify for state grant consideration the applicant must:
      • Be an Indiana resident;
      • Be a U.S. Citizen or eligible noncitizen
      • Be a high school graduate or hold a GED
      • Attend, or plan to attend, an eligible college or university
      • Be enrolled, or plan to enroll, in a course of study leading to an associates or first bachelors degree;
      • Be in at least 6 credits per term; and
      • File a Free Application for Federal Student Aid (FAFSA) -by March 10 of the year proceeding the academic year the applicant plans to enroll.
  • If the student is determined by the FAFSA to be a dependent student, the student's parents must be residents of Indiana since at least December 31st of the previous year. If the student is determined to be an independent student, the student must be a resident since at least December 31st of the previous year.
  • Additionally, Indiana National Guard Supplemental Grant eligibility must be certified by the Indiana National Guard (ING) which means starting at the unit command level and then proceeding to the headquarters or airbase education offices for final approval before the start of classes. Certification must be done for each term of enrollment. This certification is the responsibility of the student. Please see your unit's commander for details on how to apply for this grant.     


Indiana National Guard (ING) Certification includes:

  • The student must be in active drilling status. The unit commander is the sole determiner of this status. This applies to each academic term.
  • The student cannot have been AWOL at any time during the 12 months prior to their enrollment in college for any academic term. The unit commander is the sole determiner of this status. This applies to each academic term.
  • The student must complete all the required ING paperwork and must have all the paperwork approved by the appropriate ING education office before the start of classes. This applies to each academic term. Forms and process differ by ING branch, Air and Army. Students should contact their unit commander for details.The student's name and other pertinent data as required by SFA must be on an official list submitted to SFA by the appropriate Air or Army education offices of the ING, usually before classes start each term the student is enrolled.
  • The Indiana National Guard reserves the right, in cooperation with SFA, to revoke the Indiana National Guard Supplemental Grant at any time.
  • The SFA award eligibility period is limited to eight semesters within a maximum of eight years. The award will cover up to 15 credits per semester. The award is not available in the summer.    

Additional Resources

  • Indiana Commission for Higher Education Division of Student Financial Aid – Formerly SSACSFA eStudent – Access for students to check eligibility; history of grants, awards, orscholarships; change first-choice college; update address and phone number; check for outstanding eligibility issues
  • Receipt of a federal, state, or IU Kokomo grant is not guaranteed from one aid year to the next aid year.

CVO Grant

(Remissions of fees for Child of disabled veteran, POW, MIA, Purple Heart recepient, Police Officer, Firefighter, EMT killed in the line of duty)

  • The Child of Veteran and Public Safety Officer (CVO) Supplemental Grant Program provides tuition and fee assistance at public colleges for eligible children of disabled Indiana veterans, eligible children and spouses of certain members of the Indiana National Guard killed while serving on state active duty, and eligible children and spouses of certain Indiana public safety officers killed in the line of duty. As a supplement to other state financial aid, the grant pays 100 percent of tuition and mandatory fees; it does not cover other fees such as program related fees, books, parking, or room and board. For additional information, visit Child of Veteran and Public Safety Officer Supplemental Grant Program.
  • Each child must submit an application and re-application is necessary whenever a school is changed. The approved application will be returned to the applicant. It must be presented at the financial aid office of the chosen college in order to receive the fee remission benefit. If the application is not approved, the student will be so notified in writing.
  • Please note that all students are required to file the Free Application for Federal Student Aid (FAFSA) each year at least two (2) weeks before they start college.
  • Applicants must submit the applicable CVO Program application (look for school year you will be attending) and the appropriate Free Application for Federal Student Aid (FAFSA) annually. To attend a summer course(s) the next year's FAFSA must be filed.

Child of Disabled Indiana Veteran or a POW/MIA

  • Some program restrictions apply and financial assistance is limited to a maximum number of credit hours (maximum 124 credit hours). The veteran must meet, or have met, certain Indiana residency requirements, and the child must be the biological child or legally adopted dependent child of the veteran. In addition, the covered student must be regularly admitted as an in-state student to an Indiana public college and must maintain satisfactory academic progress (as defined by the college) while receiving the fee remission. Other restrictions might apply.

Application for CVO fee Remission: Children of Indiana Disabled Veterans, Purple Heart Recipients, POW's and MIAs

  • Children and Spouses of Certain Indiana Public Safety Officers Killed in the Line of Duty
  • This state of Indiana program (the CVO Program) provides tuition and fee assistance at public colleges for eligible children and spouses of certain Indiana public safety officers killed in the line of duty.

Application for CVO Fee Remission: Children and Spouses of Certain Indiana Public Safety Officers Killed in the Line of Duty

  • Child or Spouse of Certain Indiana National Members Supplemental Grant Program
  • This state of Indiana program (the CVO Program) provides tuition and fee assistance at public colleges for eligible children and spouses of certain Indiana National Guard members killed while on state active duty. As a supplement to other state financial aid, the grant pays 100 percent of tuition and program related mandatory fees; it does not cover non-tuition fees such as room and board or books.

Application for CVO Fee Remission Program - Child of Spouse of Certain Indiana National Guard Members