How are financial aid awards determined?
Most financial aid (grants, loans, work-study) awards are based on “financial need” which is defined as the difference between what it costs for you to attend IUPUC and what you and your family can reasonably contribute toward those costs. Family contribution is determined by the financial information submitted on the FAFSA. The amount of each award can also be determined by the funds available to award, eligibility criteria for each type of award, and your enrollment status.
A. All awards are granted on the basis of demonstrated need. To determine need, we use the School and Student Service for Financial Aid (SSS) in Princeton, New Jersey. Many schools in our area use this same service, so families who are applying to several schools need only send one form to SSS. An applicant family must submit a Parents’ Financial Statement (PFS) either by mail or online to SSS, which includes information about income, expenses, assets, and liabilities. The PFS goes directly to SSS in Princeton, who computes the information and determines an estimate of what a family can be expected to contribute toward an independent school education. The difference between this amount and a student’s anticipated tuition and fees is the amount of demonstrated need. We do our best to meet this need.
