Financial Aid Scenario 1

Student Scenario 1: Sample Student "Michael"

Academics and Family:

Michael is from Kokomo, IN and is graduating from high school with his Academic Honors diploma. He has a combined SAT score of 1150 in the critical reading and mathematics and is the top 20% of his class. Michael's academic record qualifies him for the $1,000 STAR Scholarship. He will be a full-time student taking 15 credit hours per semester at IU Kokomo. He lives with his sister and parents who earns $60,000 and has $15,000 in assets:

Expected Family Contribution: $7,232

Financial Aid Package for the 2014-2015 school year:

  • $1,000 STAR Scholarship
  • $3,500 Federal Direct Subsidized Loan
  • $2,000 Federal Direct Unsubsidized Loan
  • $6,500 Total Assistance
  • -$8,310 2014-2015 Estimated IU Kokomo tuition, fees and books
  • $1,810 Remaining balance due after financial aid