IPFW Financial Aid Office Terms and Conditions for Receiving Financial Aid (revised 04/2012)
Please read this document. You will be asked to indicate your agreement to understanding of these terms and conditions before you can accept your financial aid online at myIPFW. Get instructions on Viewing and Accepting the Terms & Conditions and financial aid awards.
- All IPFW financial aid policies and fund rules are published on our website. Aid recipients are required to be familiar with these policies. Information that is unclear should be brought to the attention of a financial aid office representative.
- Email is the official form of communication for IPFW. General information is communicated to students through their student e-mail account and financial aid information is communicated through their personal myIPFW account. It is recommended that students review their accounts daily.
- Financial aid awards are made for one academic year only. One half of the award will be applied each semester. Students are responsible for applying annually; applications submitted by March 10th will receive priority consideration. Renewal of aid is not guaranteed.
- Financial aid recipients are required to notify the Financial Aid Office of any scholarships, loans, book allowances or other forms of assistance extended to them from sources outside the college. Adjustments of aid may create a balance due if external funds are applied after other semester awards have been paid to the student.
- The Financial Aid Office reserves the right, on behalf of the University, to review and cancel any award at anytime because of changes in a student’s financial or academic status or funding rules. All changes reflected on myIPFW will result in an email to the student account and serve as notification of the change.
- Financial aid is awarded to a student contingent upon maintaining standards set forth by the institution’s Title IV Satisfactory Academic Progress (SAP) policies which complies with required Federal standards. Please refer to our website for policy details.
- Disbursement of a student’s financial aid award (with the exception of Federal Work Study (FWS)) will be in the form of a direct payment to the student’s financial account. Any credit balance will be refunded by check or direct deposit. Work-study earnings are paid directly to the student on a bi-weekly basis via direct deposit or check.
- Financial aid will be awarded and posted to student accounts based on full-time enrollment. Should the student register for less than a full-time course load, changes may be made to costs and aid. In some cases, students may be required to repay funds to the University.
- It is the student’s responsibility to ensure that their tuition is paid in full by the fee due date, either by financial aid, payment plan, cash or whatever resource they plan to use. Students can check their payment status via myIPFW. Failure to do this will result in late fees.
- A student receiving federal financial aid earns their aid based on the number of days that they attend class. A recipient who fully withdraws from IPFW before 60% of the term is completed will have their aid recalculated based on the number of days attended. The unearned aid will be refunded to the appropriate federal financial aid program by the institution and the student will repay the institution.
- A student receiving state financial aid earns those funds based on their enrollment at the end of the 28th class day of the term. Therefore state aid will be affected should that student drop below 12 hours before that date. State aid will not pay for all fees charged and specifically will not pay distance education fees. The State provides an electronic award notice to every student; that notice is the final authority to determine the amount of funding a student will receive.
- Federal Pell Grant awards are finalized based on hours of enrollment as a first bachelor degree seeking student at the end of the 5th class day. Therefore Pell Grant will be affected should that student fully or partially drop from classes before that date. There is a lifetime maximum eligibility of 12 full time semesters of Pell Grant so this award may change after a Federal review of aid received in the past.
- A student must be enrolled at least half time to receive Direct Loan funds and to remain in loan deferment. If eligible to graduate mid-year, the aid and budget will be reviewed to determine final eligibility based on that semesters hours of enrollment, and appropriate changes will be made.
- A student may be awarded employment under the Federal Work Study program (FWS). The amount of FWS aid shown on the award letter is the maximum a student can expect to earn during the academic year as a result of work performed. The student will be paid only for hours worked.
- Students planning to attend summer semester and wishing to receive financial aid must complete the IPFW Summer Aid Application in addition to the FAFSA. Summer applications are available on-line and in the Financial Aid Office following spring break.
- Students planning to attend two schools in the same semester should inform the financial aid office and be sure to know the rules pertaining to this choice. In general, it is a violation of Federal law to receive aid at two different schools during the same period of enrollment.
- Students are obligated to keep their University record current with any changes of name, address or phone number.
- Students who are incarcerated in a state or federal correctional institution are required by Federal law to inform the aid office of their incarceration.
When you are finished, return to myIPFW and indicate if you accept or decline the Terms and Conditions. Once accepted, the Accept Awards tab becomes available.