A student's application may be selected at random by a federal processor or by ISU for a process called verification. Students who are selected for verification must provide documentation supporting the information given on their FAFSA. To determine the documentation needed, log on to the My ISU Portal and click the "Financial Aid" tab. For further information, visit verification.

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Students can check their financial aid status by logging on to the My ISU Portal and clicking the "Financial Aid" tab. Students should check frequently to view any needed documents and updates to their financial aid files.

Once all information is submitted, the Office of Student Financial Aid will review the student's file and calculate a Cost of Attendance (COA), which is an estimated average of the amount it will cost the student to attend ISU for that academic year or particular semester. Cost of Attendance, minus Expected Family Contribution (EFC), indicates the student's financial need. With this calculated, the Office of Student Financial Aid will determine the types and amounts of aid for which the student is eligible. The student will be sent the results, and can review his/her financial aid file on the My ISU Portal.

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• Federal Direct Stafford Loans require students to complete an ISU Direct Stafford Loan Request Form, Master Promissory Note, and an Entrance Counseling Session. For assistance (and links to the requirements), visit the Federal Direct Stafford Loan.
• Federal Perkins Loans requirements and assistance can be accessed at Bursar Operations.
• Federal Direct PLUS Loans require parents to complete an ISU Federal Direct PLUS Loan Request Form and a Master Promissory Note. For assistance (and links to both requirements), visit the Federal Direct Parent PLUS Loan.

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• Financial aid is disbursed directly to the student's ISU student account and is based on the student's enrollment status at the time of disbursement. If a student drops courses after financial aid is disbursed, the award amount may be reduced.
• If the Office of Student Financial Aid determines a student is in an overaward situation, there may be a reduction in the amount of financial aid available to the student.
• Federal Pell Grants and loan funds will not appear on a student's ISU student account any earlier than ten days prior to the start of the semester.
• It is important that students view their Account Summary by Term each semester within their My ISU Portal account to ensure that all University costs are met.
• Financial aid in excess of the amount owed the University will be refunded to the student either by direct deposit or check mailed to the student’s permanent address on record.

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If a student's family status changes because of a loss of income, separation, divorce, or death, the student should contact the Office of Student Financial Aid to discuss the situation. The student must submit a Special Circumstances Appeal Form.

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An overaward occurs when a student receives more financial aid than they are eligible to receive. Students who receive aid not listed on their financial aid award letters must notify the Office of Student Financial Aid. Early notice can help minimize the impact an overaward can cause. Often late notification of scholarships or grants causes an overaward. Students who anticipate receiving additional grant or scholarship money should limit their borrowing to avoid such an overaward situation.

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To receive aid from federal, state, and institutional programs, students must make progress toward earning a degree as stipulated by ISU's Satisfactory Academic Progress Policy.

In addition, some grants and scholarships may use part of the SAP standards as minimum criteria for receipt of funding.

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In addition to financial aid programs, students may be eligible for one or more of the following:

• ISU scholarships
• Outside scholarships
• Private alternative loans
• Student employment
• Sycamore Plan (monthly and variable payment plans)

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