In awarding aid, two distinct criteria are typically considered: scholastic achievement and financial need. Some aid programs stipulate a combination of these criteria while others concentrate on one or the other.
Federal Aid Eligibility and Federal student aid programs administered by colleges and universities across the country provide more than $60 billion per year in grants, loans, and work-study assistance. To receive federal student aid, you must meet the following criteria:
- Demonstrate financial need (except for certain loans).
- Have a high school diploma or a General Education Development (GED) certificate, pass a test approved by the U.S. Department of Education, and meet other standards your state establishes that the Department approves, or complete a high school education in a home school setting that is treated as such under state law.
- Be working toward a degree or certificate in an eligible program.
- Be a U.S. citizen or eligible non-citizen.
- Have a valid Social Security Number (unless you're from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau).
- Register with the Selective Service if required. You can use the paper or electronic FAFSA to register and can register at the Selective Service website, or you can call 847-688-6888. (TTY users can call 847-688-2567.)
- Meet satisfactory academic progress standards set by IU Kokomo.
- Certify that you are not in default on a federal student loan and do not owe money on a federal student grant.
- Certify that you will use federal student aid only for educational purposes.
Additionally, student loan recipients must be enrolled at least half-time (undergraduate students - 6 semester hours/graduate students - 4 semester hours).
- The Indiana Commission for Higher Education has four General Eligibility Requirements:
- You must demonstrate financial need according to the program rules.
- Your FAFSA must be received by the federal processor by April 15.
- You and your parents, if you are a dependent student, must be legal residents of Indiana and remain so during the academic year.
- You must be an undergraduate working on an associate or first bachelor degree, maintain satisfactory academic progress, not be in default or overpayment, and meet the specific requirements of your chosen college.