Types of Student Financial Aid Available
The following types of student financial aid are available to persons enrolled as degree-seeking students who meet the eligibility criteria for the aid type. Complete fund profiles may be found online at www.indwes.edu/Financial-Aid/Adult-and-Graduate/Types-of-Aid.
Advanced Education Nursing Traineeship (AENT) Grant – is a grant that does not require repayment and is open to students enrolled in the Primary Care, Family Nurse Practitioner track of the Master in Science of Nursing program and who agree to the Special Rules. Funding is limited.
Nurse Faculty Loan Program (NFLP) - is a loan program used to provide loan funds to students enrolled in an eligible advanced degree program in nursing. After graduation from the advanced education nursing degree program, loan recipients may cancel up to 85% of the NFLP loan over a consecutive four-year period while serving as full-time nurse faculty at a school of nursing. Loan funds are given to cover costs of tuition, books, and eligible fees. Funds are limited and are offered on a first come, first served basis. The student must complete an application each year NFLP funds are requested.
William D. Ford Federal Direct Loan – is available to students who file the FAFSA and all other required student financial aid forms and who meet all federal criteria for eligibility. The maximum annual loan amount is $20,500 for graduate students. Lifetime maximum borrowing limit for graduate programs is $138,500 (including undergraduate borrowing). Interest rates are set on July 1 each year and are fixed rates. For July 1, 2013, through June 30, 2014, the interest rate is 5.41% for unsubsidized Federal Direct Loans for graduate students.
A student’s total financial assistance, including loans, may not exceed the calculated cost of attendance for the program. Students with unsubsidized loans may elect to make monthly interest payments to the lender or allow the accumulated interest to accrue until repayment, which begins six months after the student ceases to be enrolled as at least a half-time student. Upon graduation or termination of studies, the student is given a six-month grace period during which no interest or principal payments are due on subsidized loans and during which only interest accrues on the unsubsidized loans. The standard minimum monthly payment is $50, but the amount varies based on the total amount of the outstanding loans upon which the student is paying.
Graduate PLUS Federal Direct Loan – is a federal loan with a fixed 6.41% interest rate available to graduate students who have remaining cost of attendance not met by subsidized/unsubsidized William D. Ford Federal Direct Loans. This is a credit-based federal loan.
Active Duty Military Discount – is a tuition discount to all active duty military personnel, including members of the Reserves and National Guard, and spouses of the aforementioned military personnel. Students must submit an Active Duty Military Discount application, available by calling Student Account Services at 800-621-8667 ext. 2878.
Yellow Ribbon Award – is an award that does not have to be repaid and is available to eligible students who receive Chapter 33 GI Bill benefits. The amount eligible students receive reflects 50% of the tuition expenses that exceed the highest public in-state undergraduate tuition rate. The VA matches that contribution to fully cover the tuition costs.
