Federal student aid programs provide more than $60 billion per year in grants, loans, and work-study assistance. To receive federal student aid, you need only meet the following criteria:
- Demonstrate financial need by filing a Free Application for Federal Student Aid (FAFSA) for each academic year you wish to attend. SSACI priority deadline is March 10 prior to the academic year you wish to attend. File the FAFSA at www.fafsa.gov. The IU Northwest school code is 001815. You will be notified by the Office of Financial Aid, via your IUN email, if additional verification documents, such as income tax transcripts are needed to complete the determination of your eligibility for federal financial aid.
- Have a high school diploma or a General Education Development (GED) Certificate
- Be enrolled or accepted as a regular student in a degree or certain certificate program (most scholarships and financial aid awards require at least half-time enrollment and good academic standing)
- Be a U.S. citizen or eligible non-citizen
- Have a valid Social Security number (visit the Social Security Administration Web site for more information)
- Meet standards for Satisfactory Academic Progress (S.A.P.)
- Not be in default or owe an overpayment on previous federal aid; bankruptcy requires a lender clearance
- Men age 18 and older must register with the Selective Service (you can give the Selective Service permission to register you by checking the appropriate box on the FAFSA or you can register online).
- The law suspends aid eligibility for students convicted of sale or possession of illegal drugs. The period of ineligibility for each student continues until the eligibility date arrives or the student completes an acceptable drug rehabilitation program. If you have a conviction or convictions for these offenses, call (800) 433-3243 to find out how, or if, this law applies to you.
Responsibility of the school
The school must return the unearned portion of Title IV assistance to the appropriate Federal program due to a total, partial or unofficial withdrawal.
Please remember to see a Financial Aid Counselor prior to changing enrollment.
Responsibility of the student
The student must return unearned Title IV assistance.
Special rule: A student (or parent for PLUS loans) repays the unearned amount from a Title IV loan program according to the loan’s terms. This also includes Perkins loan funds.
Return of Federal Title IV Funds Policy (R2T4)
IU Northwest uses the R2T4 software to determine if Title IV funds need to be returned to any Federal program by the school/student due to a complete withdrawal for the intended period of enrollment.
Federal regulations state that if the student has not attended more than 60% of the semester, a percentage of the student’s Federal Title IV aid money (excluding Federal Work-Study funds) has not been earned. If already disbursed, the school/student may be required to repay all or a portion of the aid received to the Federal aid program from which it was awarded.
Percentage of payment period completed = Divide the total number of days comprising the payment period for which assistance is awarded into the number of days completed as of the withdrawal date.
Withdrawal date = The day the student withdraws as determined by the school.
Return of Title IV Funds Calculation
The percentage of Title IV aid earned is equal to the percentage of the payment period completed up through the 60% point. This percentage is then applied to the total amount of grant and loan assistance that was disbursed and that could have been disbursed for the payment period for which it was awarded. If the withdrawal date occurs after the 60% point, then the student has earned 100% of the assistance.
Calculated Title IV funds to be returned by school/student = Differences between amount earned and amount received If the student has received more grant or loan assistance than they earned, the unearned funds are returned by the school, the student, or both. If the student received less grant or loan funds than the amount earned, IU Northwest must determine if the student is entitled to a late-disbursement.
If the R2T4 calculation indicates that a post-withdrawal disbursement can be made, a disbursement will be made to cover institutional charges. The student will be notified of any additional eligibility for a post-withdrawal disbursement.
Timeframe for the return of Title IV funds
IU Northwest has 45 days from the date the institution determines that the student withdrew to return all unearned funds that the school is required to return.
Notification to StudentStudents will be notified via US mail of type and dollar amount of aid returned and / or post-withdrawal disbursement eligibility. Copy of notification along with student's R2T4 calculation will remain on file in the Office of Financial Aid.
Aid subject to adjustment based on enrollment below full time status
SSACI - all full-time State grant awards are subject to repayment if full time enrollment** is not maintained.
PELL - decreased enrollment resulting in tuition refund** may/will result in a recalculation of Pell Grant.
**NOTE: Bursar refunds received as a result of any withdrawal(s) are subject to this policy and should be returned to Office of the Bursar unless you have been notification of a post-withdrawal disbursement.