Paying for College with

Financial Aid

We believe a college education empowers you to launch a bright future. That’s why State provides $16 million in scholarships and $7.8 million in grants each year. Let your brilliance shine—learn how to make your education attainable with financial aid.

Paying for College with

Financial Aid

We believe a college education empowers you to launch a bright future. That’s why State provides $16 million in scholarships and $7.8 million in grants each year. Let your brilliance shine—learn how to make your education attainable with financial aid.

College is expensive, but financial aid can help. 

Each year, the U.S. Department of Education awards more than $120 billion in grants, work-study, and loans to more than 13 million students looking for funds—just like you.1 And we’re here to help make learning about these financial aid options as simple as possible. 

FEDERAL AID

Start your financial aid search by filing the Free Application for Federal Student Aid (FAFSA). The FAFSA gives you access to government aid for college, including federal grants, work-study, and loans. 

The FAFSA also helps states, colleges, and private lenders decide if you qualify for their aid. While the federal FAFSA deadline is June 30, some states have their own deadline. To meet the Indiana deadline, file your FAFSA by April 15.

Complete the FAFSA every year. The application is available October 1. Use our school code—001807. 

SCHOLARSHIPS AND GRANTS

Scholarships and grants are gift aid, or free money, that doesn’t have to be repaid. Nearly 80% of full-time undergraduates at State receive scholarships and grants. 

SCHOLARSHIPS

Many scholarships are merit-based and may consider:

Grades

Extracurricular involvement

Activities and accomplishments

Explore scholarship opportunities in The Branch—our online scholarship search tool. To receive first consideration for many scholarships, students must be admitted to State by December 1.

GRANTS

Grants are need-based aid offered by federal and state governments, colleges, employers, and nonprofits. Grants are awarded based on the results of your FAFSA.

If I qualify for grants through the FAFSA, will State offer me additional awards?

Yes, they sure do!

Through the Sycamore Technology Award, State awards a laptop computer to students who are admitted and eligible for the Federal Pell Grant as determined by the FAFSA.

Actually they do!

Through the Sycamore Technology Award, State awards a laptop computer to students who are admitted and eligible for the Federal Pell Grant as determined by the FAFSA.

EXPLORE AWARD GUIDELINES

Examples of scholarships and grants include:

Federal Pell Grant

The Federal Pell Grant Program provides need-based grants to undergraduate students to promote access to postsecondary education. Over $7,000,000 is paid annually to State students. Federal regulations prohibit a student from receiving a Pell grant for longer than 12 semesters.

Federal Pell Grant

Federal Supplemental Education Opportunity

The Federal Supplemental Educational Opportunity Grant (FSEOG) program provides financial assistance to undergraduates with exceptional financial need.

Federal Supplemental Education Opportunity

ISU Academic Need-Based Grant

Indiana State University offers the ISU Academic Need-Based Grant to undergraduate students to promote access to postsecondary education.

ISU Academic Need-Based Grant

Sycamore Need-Based Grant

Indiana State University offers the Sycamore Need-Based Grant to provide financial assistance to undergraduate students with financial need.

Sycamore Need-Based Grant

Employee Dependent Fee Waiver

Dependent children of qualified Indiana State employees who are full-time undergraduate students will receive 80 percent of qualified tuition per semester for a maximum of ten (10) semesters waived. Qualified employees must be employed at Indiana State University in that capacity on the day preceding the start of classes to receive the waiver.

Employee Dependent Fee Waiver

The State Works Award

An education that goes beyond the classroom -- that's what the State Works program provides! Recognizing that money can be an issue for some Sycamores, Indiana State launched the State Works initiative to provide students with on-campus jobs that pay in valuable work experience and help them earn money for tuition, housing, and more.

The State Works Award

External Scholarships

Billions of dollars in external scholarship money is available to students based on qualifications, interests, and skillsets. External scholarships may be available from a variety of private donors or organizations outside of Indiana State.

External Scholarships

FEDERAL WORK-STUDY

Federal work-study provides students with an on- or off-campus part-time job. Students work their assigned hours each week to earn money for college expenses. Work-study awards are need-based and determined by the FAFSA.

Sycamores who don’t qualify for work-study can apply for student employment opportunities. Join 2,900+ student employees earning dollars for tuition, housing, and books.

LOANS

A loan is money borrowed from the federal government, private banks, or credit unions.

Only consider loans when you need help paying for college expenses after using:

Scholarships​

Grants

​Savings

Personal income

Parent income

  • Scholarships

  • Grants

  • Savings

  • Personal income

  • Parent income

FEDERAL LOANS

Federal student loans offer benefits private loans don’t, such as fixed interest rates, tax benefits, and income-driven repayment plans.2 

Your FAFSA results determine if you’re eligible for federal student loans.
 

PRIVATE LOANS

Private loans are offered by banks, credit unions, and other agencies. Generally, private loans are more expensive than federal loans.

Borrow only what you need and remember—you’ll be responsible for repaying the loan amount plus interest. It’s important to fully understand the terms of your loan.

Examples of loans include:

Federal Direct Subsidized/Unsubsidized

Federal Direct Subsidized/Unsubsidized Loans are low-interest loans for undergraduate and graduate students who complete a FAFSA.

Federal Direct Subsidized/Unsubsidized Loan

 

Federal Direct Parent PLUS Loan

Parents may be eligible to borrow a Federal Direct Parent PLUS Loan to help defer the education expenses for their dependent undergraduate students. 

Federal Direct Parent PLUS Loan

 

Private Alternative Loan

Private alternative loans are serviced by agencies outside the University and typically require a credit check or income requirement. Please note that prospective borrowers may qualify for other Title IV assistance including loans that may have more favorable terms and conditions than the provisions of private alternative loans.

Private Alternative Loans

Federal Direct Graduate PLUS Loan

Graduate students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance in the Direct Loan Program.

Federal Direct Graduate PLUS Loan​

Jumpstart your financial success by practicing financial literacy. Financial literacy refers to knowledge and skills that can help you with:

Almost!

The answer is “E. All of the above.” Financial literacy helps you understand budgeting, saving, loan repayment, and credit. Get tips for all four in State’s financial literacy guide.

Correct! 

Financial literacy helps you understand budgeting, saving, loan repayment, and credit. Get tips for all four in State’s financial literacy guide.

MORE TO BLUE

A college education is one of the most important investments you’ll make—but it doesn’t have to be the biggest. Financial aid can help you focus on what really matters: prepping for your dream career. To qualify for the most state and federal aid, complete the FAFSA by April 15 and take the first step toward your future.

MORE TO BLUE

A college education is one of the most important investments you’ll make—but it doesn’t have to be the biggest. Financial aid can help you focus on what really matters: prepping for your dream career. To qualify for the most state and federal aid, complete the FAFSA by April 15 and take the first step toward your future.

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