Financial Aid Checklist

2020–2021 Academic Year Use this checklist to guide you through the financial aid process.

For questions or more information, visit USI.edu/financial-aid or contact Student Financial Assistance at 812-464-1767 or 800-467-1965.

Complete FAFSA Online The 2020–2021 Free Application for Federal Student Aid (FAFSA) is now available! Complete it online today at fafsa.gov. The state of Indiana FAFSA filing deadline is April 15, 2020. Usage of the IRS Data Retrieval option during the initial filing or when subsequent corrections are made to the FAFSA application is strongly recommended.

Check for Financial Aid Awards Financial aid is calculated once your student is admitted and we receive the FAFSA. Awards may be viewed via the student’s myUSI. In addition, paper award notices are mailed to new students.

Make Direct Loan Election The Direct Student Loan will be packaged as an offer to eligible students upon receipt of the FAFSA. Beginning July 1, your student will need to log on to myUSI and accept, decline or reduce the Direct Loan. First time borrowers must complete Direct Loan entrance counseling and must electronically sign the Master Promissory Note online at studentloans.gov.

Apply for Direct Parent PLUS Loan (optional) Beginning July 1, parents who are interested may apply for the Direct Parent PLUS Loan online at studentloans.gov. For more information, visit USI.edu/financial-aid/aid/loans/direct-plus.

Check for Additional Requirements In addition to FAFSA, some students may be required to submit additional paperwork and/or complete other processes to finalize their financial aid package. Your student should check myUSI to determine what might be required.

Watch for Disbursement Financial aid is paid to students’ billing accounts beginning the middle of the second week of each semester for students whose paperwork/ requirements are complete and processed. It is paid one semester at a time based on the number of credit hours students are enrolled in at the time of each disbursement.