General Information - CAS and Pre-licensure Nursing Financial Aid

The role of financial aid at Indiana Wesleyan University is to help make a quality Christian education affordable to each and every student.

Criteria for Aid: Virtually everyone receives aid! All new full-time, regularly admitted students attending Indiana Wesleyan University will receive some form of institutional aid. Students are not required to file the FAFSA to receive these institutional awards, but are encouraged to file in order to be eligible for grants based upon financial need. For the purposes of student financial aid, “need” is defined as the difference between the total cost of education and the amount a family may be expected to contribute toward that education (as defined by the FAFSA). Most financial aid at Indiana Wesleyan University is awarded on the basis of demonstrated need. In addition, most forms of federal, state, and institutional financial aid are intended to assist those students who have not already earned a first baccalaureate degree.

Types of Aid: Student financial aid can be classified under four major headings: scholarships, grants, loans, and work programs.

Scholarships and grants are both forms of aid that do not have to be repaid. The term “scholarship” usually is applied to an award that recognizes academic achievement or promise. Sometimes the amount of a scholarship depends on the financial need of the recipient. Grants are usually based on financial need.

Loans and work programs are forms of self-help aid. Student loans often contain desirable features such as deferred payments during periods of schooling, low interest rates, interest subsidies, or provisions for working off the loan obligation through future service in a particular profession. Work assignments connected with the student aid program consist of part-time jobs which are typically on-campus.

Applying for Aid: All students desiring financial aid must submit the Free Application for Federal Student Aid (FAFSA). It is available on the Web at fafsa.gov. After evaluation by the Financial Aid Office, this information is used to determine the kinds and amounts of need-based aid for which the student qualifies.