Financial Aid

Tuition & Other Charges

A cost and fee schedule is available at all times from either the admissions office, the business office or the financial aid office. Tuition and fees are subject to change without notice; however, the administration and faculty will attempt to advise students if a change is likely to be made. Tuition and room and board charges (for Day students only) are established by the Board of Trustees. Fees and special assessments are set at the discretion of the administration. The cost and fee schedule is also available on indianatech.edu.

Payment Options

Indiana Tech offers two payment options for remitting your portion of the cost of the education.

Traditional: The traditional method of paying for the college experience is to have the bill paid prior to the beginning of the semester. This means that your payment is due before the first day of class in any given semester. Inter-term and summer school charges are due prior to the session start date.

Payment Plan: Indiana Tech offers a payment plan through CashNet and can be setup through your my.indianatech.edu account and click on ‘My Account Manager’ from the ‘My Account tab’. Monthly payments are due the first of the month and the first payment for the fall semester is due by Aug. 1 and the first payment for the spring semester is due by Jan. 1. The cost for this payment plan is $40 per semester. Late enrollment in a payment plan reduces the payment plan by one month.

All accounts may be charged a $50.00 late fee per month (maximum of three months) on the unpaid balance after Sept. 30. No student may receive a transcript or diploma until all financial obligations to the university have been met. The student will be responsible for all collection fees if the account is turned over to an outside agency.

Withdrawal Policies-Day Students

Should a student find it necessary to withdraw completely from the university, a prorated refund of tuition will be granted through the end of the fifth week of attendance. In order to qualify for such a tuition refund, the student must complete official withdrawal forms with the approval of his/her advisor. The registrar’s office must be notified in order for the withdrawal to be official. The deadlines for withdrawal and prorated refunds allowed are listed below:

Tuition adjustments will not be made, nor will tuition be refunded for individual courses dropped after the fifth day of classes. Withdrawal forms must be filed with your advisor promptly; otherwise, the withdrawal will not be considered official. The refund policy does not apply to any student who is dismissed from the university because of misconduct.

Students who are participating in the Title IV programs who find it necessary to withdraw completely from all classes will have their federal aid assessed based on the total actual days of completion. The assistance is calculated based on the percentage of time as documented by the withdrawal date provided by the registrar’s office. Charges owed to Indiana Tech are calculated based on the above Institutional Refund Policy.

The federal refund policy will be calculated and applied to students who:

1. Withdraw on or before the 60 percent point of the enrollment period for which the aid was intended.
2. Received Title IV federal student financial assistance within the period.

The refund policy is calculated for all students receiving federal aid. The net refund to Title IV programs will be applied in the following order:

• Federal Direct Unsubsidized Stafford Loan
• Federal Direct Subsidized Loan
• Federal Perkins Loans
• Federal Direct Plus and Plus Graduate Loan
• Federal Pell Grants
• Federal SEOG Grant
• Other Title IV Assistance

Withdrawal Policies-CPS (Evening/Online) Students

You can withdraw from a CPS course without academic record until the end of the first week of the course (all session lengths). Withdrawals with record are allowed until the end of week 3 for five- and six-week courses; until the end of week 5 for 10-week courses; and until the end of week 6 for 12-week courses. You must contact the Warrior Information Network to withdraw, or you will receive a failing grade and be charged for the class.

A CPS course (including online) can be dropped without charge until the end of the first week of the session (e.g., the first Friday of classes). Saturday classes can be dropped through the Monday following the first class. Drops during the second week will receive a 75 percent refund. Third-week drops will receive a 50 percent refund. This applies to all session lengths. Drops can be handled by phone or via email through the Warrior Information Network (WIN) or registrar’s office. Students will receive a drop confirmation email. Students who drop an online course with 100 percent tuition refund are required to return the supplied course materials within two (2) weeks of the withdrawal date. All returned materials should be in good condition. Students will be charged $150 for not returning the course materials.

Undergraduate deadlines for refunds are as follows:

Graduate deadlines for refunds are as follows:

Books-Day Students

Tuition costs includes textbook rental. The required textbooks will be distributed at the beginning of each semester. At the close of each semester, the textbooks must be returned to the university bookroom. Textbooks that are not returned will be considered purchased by the student; the student will be billed for the text(s). Limited graduate courses require e-books which will be billed separately.

Books-CPS (Evening/Online) Students

Textbooks are loaned to students enrolled in courses meeting face-to-face. Instructors collect textbooks at the last class meeting. If you are unable to return the textbook to the instructor, it must be returned to Indiana Tech no later than two weeks after the session ends.

Textbooks for online classes are loaned to students and must be returned to Indiana Tech no later than two weeks after a session has ended via the shipping envelope and postage paid label provided by the university.

You will be billed for books not returned within the policy guidelines. If you wish to purchase a textbook, you can keep the textbook and your account will be billed.

Federal and State Aid

In order to qualify for federal aid, eligible students must submit a Free Application for Federal Student Aid (FAFSA). The application may be accessed at fafsa.ed.gov.

The various types of financial aid are listed below.

Federal Programs

Federal College Work-Study: The purpose of the Federal College Work-Study Program is to afford part-time employment to qualified students needing help to defray the costs of their education. This program has limited funding and is available to students that demonstrate financial need. Students must have and maintain a 2.0 GPA to participate in this program. Funds are limited in this program and are awarded accordingly.

Federal Pell Grant: The Federal Pell Grant is awarded to students who enter recognized post-secondary educational programs and demonstrate exceptional financial need. The maximum award changes yearly, and is dependent on your financial need as well as your status as a full-time or part-time student.

Federal Perkins Loans: The U.S. Government makes low-interest need based loan funds available to needy students. No interest accrues on this type of loan as long as you are enrolled in an eligible degree seeking program at least half time. Repayment of the loan starts after the student ceases to carry at least six (6) credit hours for a continuous nine month period. Loans are awarded on a first-come, first-served basis for this limited type of funding.

Federal PLUS Loan: A Federal Parent Loan for Undergraduate Students is available to students’ parents through the Direct Loan program of the U.S. Department of Education. Repayment begins within 60 days of disbursement of the full loan unless the parent chooses to defer loan payments. Simple interest is charged.

Federal Subsidized Stafford Student Loans: Need based loans are available to U.S. citizens and permanent residents through the Direct Loan program of the U.S. Department of Education. No interest accrues on this type of loan as long as you are enrolled in an eligible degree seeking program at least half-time. Check with the financial aid office for annual limits. Repayment begins six months after graduation or withdrawal.

Federal Supplemental Educational Opportunity Grants: Federal Supplemental Educational Opportunity Grants (SEOG) are made available to qualified students who demonstrate exceptional financial need. Only students receiving the Pell grant are eligible for this type of limited funding.

Federal Unsubsidized Stafford Loan: This is a low interest rate loan through the Direct Loan program of the U.S. Department of Education, where repayment by the student begins six (6) months after graduation or withdrawal. While no payments are required while enrolled in school at least half-time, interest will accrue during this time.

State Programs

Grants-in-Aid: Under the provision of Public Law 565, the federal government and state jointly provide funds for scholarship grants-in-aid to students who have physical or mental impairments, which constitute vocational handicaps. The State Vocational Rehabilitation Division is responsible for the determination of the grants, which generally pay tuition and some fees.

Freedom of Choice Grants: Early in 1973, the Indiana State Legislature approved a new “Freedom of Choice” law to help make it possible for students with financial need to attend independent colleges rather than state institutions in Indiana, if they prefer. The program will help Indiana students who qualify under the Indiana Higher Education Grant Program to make up the difference between cost at preferred privately supported colleges and the cost of similar programs of study at state colleges or universities. Students must be defined as Indiana residents and have their FAFSA at the Federal Processor by March 10.

21st Century Scholars: Indiana’s 21st Century Scholars is a needs and performance-based program that provides students the opportunity to earn up to a four-year scholarship at an Indiana college or university. Hoosier students who meet income criteria can enroll during their 7th- or 8th-grade year of middle school. Students commit to maintaining academic success, remaining drug and alcohol free and completing college-preparation activities. Scholars are provided resources and assistance to help them plan and prepare for college and pay for expenses not covered by their scholarship.

Financial Aid Policies

Financial Aid Standards for Satisfactory Academic Progress

In order for a student to continue eligibility for financial assistance, he/she must maintain satisfactory progress. Academic records of financial aid recipients will be reviewed after the completion of each semester of the academic year. Failure to meet these standards after one semester will result in the student being placed on financial aid warning. Failing to meet the required standards after two semesters will result in termination of all financial aid.

The following procedure is followed with regard to financial aid terminations: When termination of assistance is required, the financial aid office will notify the student and, if applicable, the parent of that action in writing. At that time, the student will be given a two-week time limit to request reinstatement of financial aid eligibility. Documentation of unusual circumstances, which affected the student’s progress, must be submitted before any further action is taken on the student’s behalf. An Appeal for Financial Aid Reinstatement form is available on our financial aid website. The standards of Satisfactory Academic Progress are measured both qualitatively and quantitatively. The quantitative measure requires a minimum progressive accumulation of academic credits. Students must successfully earn 67 percent of the credits attempted at Indiana Tech. The qualitative measure requires maintenance of a specific minimum GPA.

GPA Requirements

• First two semesters of undergraduate enrollment as a freshman student: 1.5 GPA
• After first two semesters of undergraduate enrollment or past the freshman level: 2.0 GPA
• First two semesters of graduate enrollment: 2.5 GPA
• After first two semesters of graduate enrollment: 3.0 GPA

The following will have an effect on the student’s progress. Therefore, before a decision is made to withdraw from a course, the student should be sure to review and meet the minimum hour and cumulative GPA requirements noted above. The following will affect a student’s degree progression:

Length of Financial Aid Eligibility

Students may not exceed 150 percent of the maximum published credit hours required for the degree program. The following information indicates the maximum amount of attempted credit hours the student may have to receive financial assistance. Students who transfer from another university will be measured based upon their previous degree and expected major of study while enrolled at Indiana Tech. Transcripts are reviewed individually to determine all available transfer credit in their new major at Indiana Tech.

Academic progress includes all semesters the student has been in attendance, not just the semester the student has received aid. A student must assure that he/she will meet the minimum enrollment requirements before withdrawal from any registered course.

Pre-professional & Pre-graduate Programs

Many graduates of Indiana Tech elect to enter a professional or graduate school upon completion of their undergraduate studies. The engineering, science and business curricula provide not only valuable backgrounds for careers within the individual fields but in law and medicine, as well. A student planning to enter a professional or graduate school should obtain information as to the entrance requirements of such institutions and should arrange his/her program at Indiana Tech accordingly. The department head will direct the student to the persons most closely acquainted with the professional or technical field concerned. The curricula at Indiana Tech furnish a sound background for entrance into the professional and graduate schools. Financial assistance is available to those students continuing in master’s programs and the Ph.D. program through Indiana Tech. Contact the financial aid office for available funding.