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Financial Services FAQ

We understand that you may have questions remaining about your aid, how it works, and other things mentioned on our website. We’ve created a list of the questions we are asked frequently and compiled the answers for you. We hope this helps answer your questions. If not, please feel free to contact us and we’ll be happy to assist you.

When will I receive my refund?

Traditional Undergraduate Students

Student Financial Services will bill your semester tuition after the withdrawal period has ended, normally the end of the third week of classes. Once this is completed, the financial aid office will post financial aid funds in the fourth and fifth weeks of class, as long as they have received all the needed documentation.

If the financial aid funds posted to your account total more than your bill, you will have a credit balance. If you have a credit balance, you will be automatically reviewed for a refund. Student Financial Services processes refunds every working Friday for our traditional undergraduate students unless instructed otherwise by the student. The review process can take up to 14 days to complete.

College of Professional Studies Students

Student Financial Services processes refunds every Tuesday and Friday. You must have a credit balance on your account to be reviewed for a refund. Please check the financial aid portal in your my.Indianatech Account to make sure all of your financial aid information is completed so the financial aid office can disburse your awards to your student account. Once this is done, if you have a credit balance on your account, Student Financial Services has 14 days to send your refund to you.

All Indiana Tech refunds are disbursed to Bank Mobile. Bank Mobile will alert you when a refund has been processed for you. The financial aid office, the business office, and the Warrior Information Network do not have aid disbursement or refund dates available.

Why hasn’t my Financial Aid posted?

Your financial aid may not have posted for numerous reasons. Please check the financial aid portal in your my.IndianaTech account. If you have completed all the needed documents and have been awarded an aid package for the year, contact the financial aid office to check your aid status.

How is financial aid determined?

The amount of aid you qualify for is determined by several factors. First, the results of your Free Application for Federal Student Aid (FAFSA) will tell us whether you qualify for any need-based aid related to your financial situation. Eligibility for need-based programs is calculated by considering the following factors: family income, number of people in your household, number of children attending college, and asset information.

Once we have your FAFSA, we look at your proposed enrollment to see how many credits you are taking (or planning to take). When we have all of this information, we can determine what types of financial aid and how much financial aid you qualify for.

Where do I file my Free Application for Federal Student Aid (FAFSA)?

The FAFSA is filed with a central processor and is a free service. To file online, visit the FAFSA websiteThere are other methods you can use to file your FAFSA, however they are typically much slower. The Free Application for Federal Student Aid is just that – FREE. Under no circumstance should you have to pay a fee to file your FAFSA.

Are there deadlines to file for financial aid?

There are no specific deadlines to file your FAFSA. Our preferred deadline is April 15th. Students filing prior to April 15 will be given preferential consideration when awarding financial aid. FAFSAs will still be accepted and received on a rolling basis after April 15.

Are there deadlines for state grants?

Yes, there are. Each state has their own deadlines for students to apply and be considered for state grants and scholarships. The individual state deadlines are available on the FAFSA websiteIndiana’s deadline is April 15th.

Do I have to apply for financial aid every year?

Yes, you do need to complete a FAFSA every year. The FAFSA for the next academic year becomes available online on October 1st for the next aid year.

How do I apply for loans?

Your FAFSA acts as an application for all Federal Direct Student loans, so no additional application is necessary for these funds. We process all loans electronically, so make sure to complete your required loan documents (master promissory note and entrance counseling) online with the Department of Education.

If you find that a private loan is necessary, we do offer an online resource to help you find the best private loan for you. Please see our page on Private Student Loans for more information.

Can I decline all or some of the loans offered to me?

Yes. We encourage you to practice responsible borrowing and only accept the loan funds that you need to cover the cost of your classes. You may decline or reduce the amount of your loans at any time by completing a loan adjustment form.

What is Direct Loan Entrance Counseling?

Direct Loan Entrance Counseling is a required document that must be completed before your first Federal Direct Subsidized/Unsubsidized loan is disbursed to your student account. Entrance counseling should take no longer than 30 minutes to complete and will help you understand the responsibility of borrowing student loans. You may complete your Direct Loan Entrance Counseling requirement online with the Department of Education. You do not need to complete this requirement if you intend to decline the full amount of Federal Direct Student Loans offered to you.

What is Exit Counseling?

Exit Counseling provides you with information regarding various repayment and deferment options as well as ways to keep your credit in good standing. Students exiting Indiana Tech due to graduation, transfer, or withdrawal and who borrowed student loans during their attendance must participate in online exit counseling with the National Student Loan Data System (NSLDS).

How do I manage my loans?

First, you need to find out who your loan servicer is. You can find this information by viewing your loan history on the National Student Loan Data System (NSLDS). Once you know who your loan servicer is (for example, Sallie Mae), you can visit their website or call their customer service number listed online to begin managing your loans. Most loan servicers offer online accounts free of charge that allow you to access your most current loan information as well as make or schedule payments.

Are there other grants and scholarships I might be eligible for?

In short, yes. There are other grants and scholarships that you may be eligible for, but it will take some time and effort on your part to investigate, apply, and submit the necessary forms for these awards. Remember that you should never have to pay to apply for a grant or scholarship and, if it seems too good to be true it probably is.

For more information on scholarships, please visit our scholarships page.

When will I get my refund?

Once your financial aid has been disbursed to your student account and you have a credit balance, the Business Office is given 14 business days to get your refund to you. It does not typically take the full 14 days to get your refund; however, we are not able to give exact dates as each account is different.

Will I get the same awards every year?

Your aid is reviewed on an annual basis and can change if you fail to meet satisfactory academic progress standards or if there are excessive changes in your family’s income or household size.

Where is my 1098-T Form?

1098-T forms are mailed to each qualifying student’s home address on or before January 31 of each year. To qualify to receive the form, your tuition billed must exceed your grants and scholarships received for that calendar year. You may login to your my.IndianaTech account to obtain an electronic version by going to the My Account tab.

What is Bank Mobile?

Bank Mobile is a financial services company that Indiana Tech uses to issue student account refunds. For more information about your options regarding how you receive your refund money, please visit https://www.refundselection.com/refundselection/#/welcome/continue.

Why can’t my current aid cover a balance from a previous year?

The U.S. Department of Education does not allow us to use new financial aid awards for a balance from a previous year.

How can I view my student account balance?

Go to my.IndianaTech and sign in with your Indiana Tech network login and password.

How can I get a statement, invoice, or receipt?

Simply email us at businessoffice@indianatech.edu to request any billing information. Include your name, student ID number, and the information you need, and we will email you the requested documentation within 24 hours.

How can I get a book charge removed?

To receive a credit for a textbook charge, you must return the books by shipping the book back to Indiana Tech or by turning it in personally on campus. If you have returned a book and the charge hasn’t been removed, please call the bookroom at 800.288.1766, ext. 2284 to find out what your next steps are.

How can I make a payment?
  1. Go to my.IndianaTech and sign in with your Indiana Tech network login and password.
  2. Click on Make a Payment in the Resources tab on the right side of the page.
How do I get cleared for traditional undergraduate classes?

Information on Indiana Tech’s clearing process for students accepted into our traditional undergraduate program can be found on our clearing page.

How can I complete my Health Insurance Form?

This is for traditional undergraduates students only.

  1. Go to my.IndianaTech and sign in with your Indiana Tech network login and password
  2. Click the My Account tab at the top of the page.
  3. Select Access My Account for your appropriate division. (Day, CPS)
  4. Click on Student Health Insurance (REQUIRED) submissions in Student Requests on the right side of the page.
How can I submit Release of Information Authorizations?
  1. Go to my.IndianaTech and sign in with your Indiana Tech network login and password.
  2. Click the My Account tab at the top of the page.
  3. Select Access My Account for your appropriate division. (Day, CPS)
  4. Click on My Account Manager under My Account Information Tab on the right side of the page.
  5. Click on Release of Information Authorization (OPTIONAL) submissions in Student Requests on the right hand side of the page.
How do I access my bill through my.IndianaTech?

Indiana Tech billing statements are available online for traditional day undergraduates students.

How do I set up a user for your account through my.IndianaTech?

If you are receiving bills from Indiana Tech electronically and would like to grant someone else access to manage your account, please click the link below to add an authorized user.