Types of Financial Aid

Types of Financial Aid

Most aid is based on need as determined by the Free Application For Federal Student Aid (FAFSA). The most common forms of student aid are:

Scholarships

Scholarships can play a very important part in making your college education affordable and attainable. We encourage you to begin your search for scholarships early, pay close attention to deadlines and ask questions along the way. Many Scholarship opportunities are available to our IU South Bend students.

Federal Grants

Grants are a type of aid that does not need to be earned or repaid. The application for federal grants is the FAFSA that students file each year.

The Federal Pell Grant is awarded to students based upon their level of enrollment and Expected Family Contribution (EFC). The Federal Pell Grant is considered “portable,” meaning that, for a given academic year, an eligible student would receive the same Pell Grant at any university.

  1. Awards are based on a combination of EFC and level of enrollment:
    • Levels of awards for full-time, three-quarter-time, half-time, or less-than-halftime enrollment; minimum enrollment is 1 credit hour per semester.
    • Eligibility is based upon the number of enrolled hours at the end of the first week of classes.
  2. A student must be pursuing their first undergraduate degree.
  3. A FAFSA must be filed.
  4. The Federal Pell Grant is a need-based award and thus counts towards fulfilling a student’s overall need figure.
  5. Students are eligible for 600% of this award and track how much has been awarded at studentaid.gov

The Federal Supplemental Educational Opportunity Grant (SEOG) is a federal, campus-based grant. This means that federal funds are provided to individual universities to administer at their discretion (although always within federally governed parameters); Federal SEOG amounts and eligibility requirements may therefore vary from university to university. To be considered a student must file the FAFSA by the priority date of April 15th.

Manage your federal aid at studentaid.gov using your FSA ID (Federal Student Aid Identification) used to file your FAFSA.

State Aid

For state aid offered by CHE, annually filing by April 15th of the FAFSA is necessary for most awards.  Some aid eligibility may require an additional application.  Click IN.gov to learn more. 

Below are some of the aid opportunities offered by the Indiana Commission for Higher Education:

The Commission for Higher Education (CHE) administers the Frank O’Bannon Grant Program. The amount of the award is dependent upon the Expected Family Contribution (EFC), as well as the type of Indiana high school diploma the student received (Honors, Core 40, or General Diploma).

To qualify:

  • A student must be an Indiana resident (their parents must also be Indiana residents).
  • The FAFSA must be filed by the CHE priority deadline of April 15 each year; any FAFSA errors must be cleared by April 15.
  • A student must be full-time as of the CHE census date (the end of the fourth week of classes).
  • A student must be working on their first undergraduate degree.
  • The award is a need-based award and thus counts towards fulfilling a student’s overall need figure.
  • The award is available for eight semesters of full-time enrollment. The Frank O’Bannon Grant is designated for application towards the payment of tuition and fees, but this award will not cover a student's entire tuition and fee assessment.
  • To renew this award you would need to complete 24 credit hours during the award year.

The Commission for Higher Education (CHE) administers the 21st Century Scholars, the initial eligibility for which is determined when a student is in 7th or 8th grade and meets specific income requirements. At that time students take a Scholars Pledge, which they then reaffirm as high school seniors.

  • A student must be an Indiana resident (their parents must also be Indiana residents) and must have graduated from an Indiana high school.
  • The FAFSA must be filed on or before April 15 each year; any FAFSA errors must be cleared by April 15.
  • A student must be full-time as of the CHE census date (the end of the fourth week of classes).
  • A student must be working on their first undergraduate degree.
  • The award is available for eight semesters of full-time enrollment.
  • The 21st Century Scholars Award is designated for application towards the payment of tuition and fees.
  • The award counts towards fulfilling a student’s overall need figure.
  • To renew the award you must:
    • complete 30 credit hours during the award year
    • complete both parts of the College Scholars Success Program

A student must be admitted as an in-state and the parent must meet (or have met) certain Indiana residency requirements.

  • A FAFSA must be filed.
  • An Application for Remission of Fees, in the student’s ScholarTrack account, must be certified by the Indiana Department of Veteran’s Affairs and submitted to our office.
  • CVO is available to both degree-seeking undergraduate and graduate students, enrolled in at least one credit hour.
  • CVO for graduate students will be capped at undergraduate limits.
  • Graduate students who are receiving CVO under the current cap guidelines will be grandfathered in, provided they are currently enrolled and continue to be enrolled.
  • Students who do not enroll for a year or more will be subject to the new guidelines.
  • Must be maintaining SAP standards

The award covers up to 124 credit hours of enrollment. Courses dropped after the 100% refund period in any term may be applied toward a student's CVO eligibility. CVO is designated for application towards the payment of tuition and fees.

CVO is a type of fee remission and is awarded based on eligibility and need to cover tuition and mandatory fees only.

Already a state recipient?  Visit the state ScholarTrack to manage your state aid.  You can view your current and previous state aid on the top left Online Services drop down.

Work Study

Part-time employment on campus or off campus at approved sites during academic year or summer.

Loans

Money borrowed from the Federal Government, the university, or a financial institution to pay for college expenses. To be considered, students must request loan funds via FAFSA.

Emergency Funds

Limited emergency funds are available each year. Students may review the criteria and submit either a IU Miller Loan or Crimson Loan Application. Please submit a complete application and follow all instructions.

Call 574-520-4357 with any questions you may have.

Miller Loan Application  Crimson Loan Application

Indiana University South Bend

1700 Mishawaka Ave
South Bend, IN 46615
Phone: 574-520-4872