The student will receive notification directly from the U.S Department of Education on approval/denial.
A student may borrow the cost of attendance minus any financial aid offered for the school year.
Interest Rates and Fees
The interest rate is fixed at 7.21%. The loan fee is 4.288% for loans originated
between December 1, 2013 and September 30, 2014. For loans in which the first disbursement is
on or after October 1, 2014, the origination fee is 4.292%.
Disbursement of Funds
Loan funds are sent directly to Indiana State University from the U.S. Department of Education and credited directly to
the student's account. If the student applies for a full academic year loan, half of the amount the student applies for is
disbursed at the start of the fall semester and the other half at the start of the spring semester. Funds will first cover
any charges on the student's account. Any excess funds are released to the student via direct deposit or sent to student's