Federal Financial Aid

Funding Sources

Eligibility Requirements

Federal aid is available to help manage the costs of higher education. Eligibility regulatory requirements state that in order to receive federal financial aid, you must:

  • Be a U.S. citizen or eligible non-citizen
  • Have a valid Social Security Number
  • Not have a drug conviction for an offense that occurred while you were receiving Federal Student Aid (such as grants, loans, or work-study)
  • Register with Selective Service if you are male and 18 to 25 years of age
  • Have a high school diploma or a General Education Development (GED) Certificate or pass an exam approved by the U.S. Department of Education
  • Be enrolled in a degree-seeking program
  • Not be in default on a Federal student loan and not owe a refund on any state or federal educational grant.
  • Not exceed the annual or lifetime aggregate award limits in Federal Stafford Subsidized and Unsubsidized loans as determined by Federal regulations. The lifetime limit is $31,000 for dependent bachelor's students, $57,500 for independent bachelor's students, and $138,500 for graduate students.
  • Not be incarcerated, which includes serving a criminal sentence in a federal, state, or local penitentiary, prison, jail, reformatory, work farm, or similar correctional institution. A student is not considered to be in a half-way house or home detention or is sentenced to serve only weekends.

Thanks to their extensive training in financial aid, JIU’s Student Solution Advisors can provide you with valuable insight and answer all of your questions about eligibility and options for financing your education. Contact a Student Solutions Advisor by calling 800.811.5663 option 3.

Types of Federal Loans

There are 3 types of Stafford loans available:

  • Direct Subsidized Loans: Are for undergraduate students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period and during deferment periods.

  • Direct Unsubsidized Loans: Are not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

  • Direct PLUS Loans: Are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.

Learn more about Stafford Loans or Graduate Plus Loans

The Federal Financial Aid Process

Your financial aid application can be completed as you are applying for admissions or after you have submitted your admissions application. Our online Virtual Financial Aid Office will guide you step by step on what is needed to apply for federal financial aid.

Your federal financial aid award is based on the information that you provide on your FAFSA. Eligibility is determined using a formula that includes your expected family contribution (EFC) and the estimated yearly (academic year) cost of attendance which includes; tuition, fees, books and supplies.

Upon completion of the financial aid process, you will be presented with your award letter which will show you the amount of certified funds that will be disbursed on your behalf to cover your institutional charges.

Alternative Aid Sources

JIU is committed to assisting you with financing your education. If after determining your eligibility for federal financial aid you need additional funding, we suggest you contact your bank to determine if they have additional non federal funding that you could use at JIU. Other resources include: http://privatestudentloans.com/