Overview & Instructions

Loans are available as a means of funding your education. Unlike gift aid such as scholarships or grants, loans must be repaid. For more information on these and other resources, contact your local Ivy Tech Community College Financial Aid office.

Federal Stafford Loan Program (subsidized and unsubsidized)

• Description: Fixed interest rate; subsidized interest paid by federal government while in school; unsubsidized interest accrual begins upon disbursement
• Eligibility: Enrolled at least half time
• Contact: Ivy Tech Community College Financial Aid Office

Instructions for Stafford Loan Application for 2009-10.

Please print a copy of the instructions for the 2009-10 year below. Our process has changed for the fall, and all loans will be "auto-packaged". Most processes will occur online. All loans will be packaged as fall/spring loans for 2009-10. The only exception is for those graduating at the end of the fall 2009 term. In this case, please print and submit to Financial Aid the Fall 2009 Graduate Application Form below.

Remember that summer is handled separately, and is the last term of the academic year. So, if you accept the full loan amount for fall and spring, you will have no Stafford funds remaining for summer 2010 – please plan accordingly. If you did not indicate on your 2009-10 FAFSA that you would be seeking a Stafford Loan, but you do want one, notify our office so that we can adjust your record accordingly.

» Instructions for 2009-10 Full-year Loan Process
» December 2009 Grad Fall Only Loan Request

» Instructions for Spring Only 2010 Loan Process
» May 2010 Grad Spring Only Loan Request

Repeat Stafford Borrowers: If you have a Stafford Loan that was placed within the last two years, all you need to do is complete the 5 steps for 'All Students' on the instruction sheet.

New Stafford Borrowers: Complete steps 1 – 5 for 'All Students' first. Then go to the following link to request your loan by taking the following steps:

1. Select your lender
2. Set up an ID and password a the lender’s web site (retain for future use)
3. Complete ‘Entrance Counseling’, so you know all about the loan program
4. Complete a Master Promissory note

Ivy Tech will certify your loan when these steps are in place

Federal Parental Loan for Undergraduate Students (PLUS)

• Description: Fixed interest rate
• Eligibility: Parent of dependent student enrolled at least half time; based on credit rating
• Contact: Ivy Tech Community College Financial Aid Office

Ivy Tech Community College Of Indiana College Loan Program Code Of Conduct

Revenue Sharing Prohibition

Ivy Tech Community College of Indiana will not receive anything of value from any lending institution in exchange for any advantage sought by the lending institution. Lenders have never paid to get on this institution’s recommended lender list.

Gift and Trip Prohibition

Ivy Tech Community College of Indiana employees are prohibited from taking anything of more than nominal value from any lending institution. This includes a prohibition on trips for financial aid officers and other college officials paid for by the lenders.

Advisory Board Compensation Rules

Ivy Tech Community College of Indiana employees are prohibited from receiving anything of value for serving on the advisory board of any lending institution.

Recommended Lender Guidelines

The Recommend Lender lists for Ivy Tech Community College will be based solely on the best interests of the students or parents who may use the list without regard to financial interests of the College.

Recommended Lender Disclosure

The College utilizes the Simple Tuition ELender List, the USA Funds OpenNet loan processor platform and regional campus lists to advise students that they have the right and ability to select the lender of their choice regardless of the Recommended Lender List.

loan Resale Disclosure

No lender will appear on the Recommended Lender List if the lender has an agreement to sell its loan portfolio to another lender without disclosing this fact to the College. In addition, no lender may bargain with the College to be a recommended lender with respect to a certain type of loan by providing benefits or inducements as to another type of loan.

Call Center Prohibition

Ivy Tech Community College of Indiana does not and will not utilize employees of any lender as college call center employees, nor will the College allow any representative from any lender offer staffing of the regional financial aid offices.

Recommended Lender List Rationale

Ivy Tech Community College of Indiana formed a committee to review lenders for the college’s Recommended Lender List. This committee was created to seek lenders that responded to the needs of our students by answering a comprehensive request for information. The committee looked for lenders that met or exceeded the criteria of value based service to the students of Ivy Tech Community College.

The evaluation process included history and stability in the lending community, customer service, benefits, financial literacy and default prevention and management. To assure that the best service is given our student, committee uses the National Association of Student Financial Aid Administrators (NASFAA) Lender review form to identify the services offered by lenders. Our evaluation process is conducted bi-annually, but at times there may be changes. The college feels it is important that students are offered the opportunity to choose and borrow from the same lenders to avoid multiple payments when no longer attending college. The college also feels that it is important that the lenders offer student and parent borrowers the best service available. You may apply by clicking on the APPLY button for a particular lender or you may click to make a comparison between more than one lender to make an informed choice. We recommend that if you have questions regarding any lender on the list that you meet with your campus financial aid advisor, they are there to assist you.

Reminder

If you choose not to use any lender on the Recommended Lender List or if you do not see the lender you prefer, you have the right to request the lender of your choice and your application will be processed in the same manner as a lender that is listed.

Enter the maximum amount you wish to borrow for the requested loan period. The amount you will be approved to borrow depends on your financial aid eligibility as determined by your school.