Calculating Need-Based Aid

Financial aid is determined using the Student Aid Index (SAI), which is calculated based on income, assets, and household size you report on the FAFSA.

You must demonstrate sufficient financial need to qualify for most aid.

Need-based aid includes (but is not limited to):

• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant (SEOG)
• O'Bannon Grant (for Indiana residents)
• Federal Work-Study
• Federal Direct Subsidized Loan

NOTE: While scholarships and fee remissions are typically not awarded based upon the SAI or need, they are nonetheless included when totaling the amount of aid counted towards covering a student's need.

Indiana University Kokomo does not guarantee that a student will receive enough aid to cover their entire need figure.

Non-Need Based Aid

Some types of aid (including but not limited to the Federal Direct Unsubsidized Loan, the Federal Parent PLUS Loan, and private loans) do not require a student to have need. A student may receive such awards even if their original need figure equals zero.

Regardless of the type of aid package a student receives (all need-based, all non-need-based, or a combination of the two), their total awards may not exceed their cost of attendance.