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Financial Aid  > Applying for Aid  > Getting and Keeping Aid

STEP 3: Accepting/Awarding Aid

1. Accept and Decline Your Aid via OneStart.

It may take up to two weeks for the results of your FAFSA to be transmitted to our office. Depending on the time of year (processing is very heavy during March, April, May) your estimated IU Southeast Financial Aid Notification will be available via OneStart as soon as possible after we receive your FAFSA information.
All awards based on your FAFSA information are subject to change after your actual enrollment. State aid notifications are sent separately. The total amount of your financial aid cannot exceed your total cost of attendance (see Determination of Need).

2. Loan Entrance Counseling

Entrance Loan Counseling is required for all students taking out their first Federal Stafford loan. Federal Stafford counseling is done on the web through the Department of Education's Direct Lending web site. Loan funds cannot be disbursed until counseling is completed. If you are unable to complete the counseling on the web or have any questions, please contact the Office of Financial Aid at 812-941-2246. Note: The following link will direct you to the Direct Lending Entrance Counseling site.

Begin Entrance Counseling

3. Complete and Sign Your Promissory Note

Stafford Loans

If you are a Stafford Loan borrower and want to sign your promissory note click here. Sign in to StudentLoans.gov and click Complete Master Promissory Note.

Perkins Loans

If you are a Perkins Loan borrower, please visit the Student Loan Administration site to sign and complete your master promissory note.

Please direct concerns regarding Perkins Loans to the Student Loan Administration or by calling 1-866-IU LOANS.

4. Additional Loans

Parent PLUS

A federal PLUS Loan (Parent Loan for Undergraduate Students) is a low interest rate loan for parents that can be used to help pay for the education of a dependent undergraduate child.

Due to system delays, we recommend also submitting an application through the IU Southeast Financial Aid Office. Please download and print the following form to complete the Federal PLUS Loan Request Form.

Alternative Loans

Students who do not qualify for a Stafford or Perkins loan can apply for private signature loans. Credit history will be checked and you may need a co-signer. It is required to be enrolled at least halftime.

5. Disbursing Your Aid

 

Financial aid will be released to student accounts after the semester census.  In Fall 2012 this will begin September 4, 2012.  Residual funds should be available via direct deposit starting September 7, 2012.

Books from the IU Southeast Bookstore may be charged to student UCards between August 13, to August 29, 2012.  There is a $600 limit and you must be enrolled in classes at least one day prior to charging books.  See the UCard page for more details.  Students may opt out of charging their books to their bursar accounts by not using the UCard to charge books.

Students on consortium agreements should speak with a financial aid counselor regarding their options for obtaining books and supplies if they are not available in our campus bookstore.

6. Additional Considerations and effects of loans

You should ask yourself whether borrowing is the best choice for you if you need cash for college costs.

Consider these nine points before applying for a loan:
  1. Scholarships and grants may be available through the state student assistance agency in your home state.
  2. A number of computerized scholarship search services and financial aid reference materials are available in the IU Southeast Main Library
  3. The IU Southeast Career Services Office offers comprehensive placement and counseling services for students interested in working part time, either on or off campus.
  4. If you or your parent(s) receive a college loan, it may reduce your eligibility for other types of financial assistance.
  5. If you receive other types of financial assistance, it may reduce your eligibility (or your parent or parents' eligibility) for loans.
  6. Loans must be repaid - some shortly after graduation or withdrawal from school, and some while you are still enrolled in college.
  7. Loans must be repaid even if you do not complete your program of study or you cannot find a job right away when you leave. Even if you're dissatisfied with the education you have received, you must still repay the money you borrowed.
  8. Students who establish poor records of educational loan repayment may damage their credit rating for other types of loans.
  9. Be careful about the federal maximum loan amounts we've listed. They are standard limits for everyone who is eligible to borrow; the amounts are not related to your personal earning potential. The maximum amount that you are eligible to borrow on one or more student loan programs may be more than you will be able to repay after you leave school. Ask your advisor what salary ranges are for graduates with your major.

Continue to Step 4