WHAT IS A STUDENT LOAN?

A student loan is money borrowed from the government or a private lender to help pay for college costs, such as tuition, supplies, books, living expenses, or other fees. 不像奖学金或助学金, which are gifts that don't need to be paid back, a loan accumulates interest and has to be paid back. Because of this, it's critical that you only borrow what you need.

如果你一定要借钱,那就明智地借钱!

WHO QUALIFIES?

Eligibility is determined by the Ivy Tech Financial Aid office, based on the results of your Free Application for Federal Student Aid (FAFSA), your estimated cost of attendance, and other financial aid you are receiving.

To borrow a Federal Direct Loan (更多信息见下表), you must be enrolled at least half-time in an aid-eligible academic program. All enrolled students must also meet Ivy Tech's 令人满意的学业进展 policy.

Types of LOANS

After you've explored free money for college (scholarships and grants), you may want to look into federal student loans, which are provided by the government, and then private student loans, which are provided by banks and other financial institutions, to help you pay for college.

Don't forget, 联邦和私人学生贷款, you'll have to pay back the money you borrow plus interest. 只借你绝对需要的钱.

Below is an overview of the different types of loans you may be able to get to help pay for your education. You can also compare the features of federal and private loans here.

 

私人或替代学生贷款

  • Key Highlights

    • A private (alternative) loan is not a federal loan, but it is considered part of a student’s estimated financial aid.
    • The funds are typically loans provided to you by a private lender.
    • Students should explore all types of federal student aid before considering a private (alternative) loan. For a list of reasons on why federal student loans are usually a better option than private (alternative) loans, visit StudentAid.gov.

    Below is some information you should know if you choose to apply for a private (alternative) loan.

    Eligibility Requirements: 即使你的贷款人批准了你的贷款, you must also meet certain eligibility requirements to receive the funds at Ivy Tech. 这些要求包括:

    • File a Free Application for Federal Student Aid (FAFSA) and resolve any outstanding issues related to your FAFSA,
    • Be awarded all other eligible aid, including federal loans,
    • Your Cost of Attendance (COA) minus all other aid is greater than $0,

    If you have extenuating circumstances as to why you cannot meet the eligibility requirements above and you have been approved for a private (alternative) loan by your lender, contact your Financial Aid Office for options.

    Borrowing Limits

    The maximum amount you can borrow is based on your enrollment and other financial aid received. Based on these factors, your campus Financial Aid Office will determine the maximum amount you can borrow. In addition, your lender may have a maximum limit based on your credit rating/score and the type of loan.

    Interest Rates and Fees

    利率和费用因贷款人而异. Be sure to read all the terms and conditions of your loan to know how the rates and fees are determined for your loan.

    Application Process

    每个贷款机构都有自己的申请流程. Almost all private (alternative) loans are based on the borrower’s credit. You may need to apply with a co-signer to be approved if you are not deemed as credit-worthy by the lender. If your loan is approved by the lender, the lender will send Ivy Tech a certification request. We will review your eligibility and send your lender a completed certification if you are eligible to receive the loan.

    Posting and Refunds

    就像其他形式的经济援助一样, any funds sent to Ivy Tech will first apply to your tuition, fees and other charges. Any remaining funds will be issued as a refund to you, if permitted by the lender. Private (alternative) loans follow the same posting and refund schedule as other types of financial aid. Visit tianhetextile.com/refunds 有关此过程的更多信息. 私人(替代)贷款将会 not show as Estimated Financial Aid on your Student Account until the funds arrive from the lender and post to your account. If you do not have other types of financial aid to pay your balance due, you should contact your Bursar/Business Office for payment options until the funds post to your account.

    Bookstore Credit Line

    Funds from your private (alternative) loan are not available to use as part of the bookstore financial aid credit line. The bookstore financial aid credit line is only available based on federal, state, and institutional funds.

    Repayment

    Repayment terms and amounts vary by lender and depend on how much you borrow. Typically, the repayment options for a private (alternative) loan are not as good as the Federal Direct Student Loan Program.

    As a service to our students and parents we’ve listed a private loan research tool (INvestEd Marketplace) and a no-interest loan opportunity (Accelerate Indiana) below on our preferred lender list.

    Accelerate IndianaAccelerate Indiana is a new state-funded program to help Indiana residents accelerate their careers through fast-paced training programs for high-wage, high-demand jobs.

    • Accelerate Indiana is an Income Share Agreement (ISA). This means you’ll pay a percentage of your monthly income for a set number of months after graduation or course separation.
    • Accelerate Indiana’s ISA offers zero interest, zero fees, and forbearance protections for economic hardship, military service, disability, and disaster.
    • Payments are capped at 5% of your monthly income, and no payment is owed if you earn less than before your enrollment or less than $42,500/year.
    • Repayment begins 6 months after graduation or course separation.
    • Maximum term of 84 months. 没有延长还款期限. Any outstanding obligation is forgiven at expiration of repayment term.
    • Students who stay in Indiana during the first 36 months of repayment qualify for a 5% credit.

    Accelerate Indiana’s ISA funds are currently available to use for Indiana students pursuing the CDL-A Workforce (Non-Credit) training at our Fort Wayne, Terre Haute, and Lafayette campuses. 学生必须年满18岁, Indiana residents, and not currently using the Workforce Ready Grant.

    Students are not limited to the options above. We will process loans for students and parents who meet eligibility requirements from any lender.

    Lenders are included on our preferred lender list by meeting some or all the following criteria:

    • Students who have selected a lender in the past and have received good service regarding such things as timeliness of disbursements, availability of lender representatives to answer questions, etc.
    • A lender is willing to share the information for comparison in the INvestEd Markeplace.
    • A lender provides students with beneficial repayment terms.

    INvestEd Marketplace allows students and parents to instantly compare rates and terms from a multitude of private lenders.

    视频:什么是私人贷款?

    比较联邦贷款和私人贷款

  • Key Highlights

    • Private parent loans are non-federal education loans that are borrowed by the parent (or guardian or sponsor) of an undergraduate student.
    • 由银行和网络贷款机构提供.
    • Only the parent borrower is obligated to repay the debt. (This is in contrast with private student loans, where the loan is borrowed by the student and usually cosigned by the parent.)

    Things to Consider

    Before taking out private parent student loans, make sure that your child has maxed out federal student loan options.

    如果你有很好的或优秀的信用, a private parent loan may charge a lower interest rate and lower fees than the Federal Parent PLUS loan. Also, some parents prefer a private parent loan because they are the only borrower. This avoids the need to rely on the student to make the monthly loan payments. 

    Non-Education Loans

    Other borrowing options for parents include non-education loans, such as a 401(k) loan or a home equity loan or line of credit.

Loan Resources

Each student has unique financial aid needs and no single loan is the best choice for everyone. Some students borrow a combination of both types. Compare the most common types of student loans below to see find the best fit for you.

 

联邦直接学生贷款

私人或另类学生贷款

  Direct Subsidized Loans Direct Unsubsidized Loans Direct Parent PLUS Loans Private Student Loans Private Parent Loans
Who issues the loan Government Government Government Bank/financial institution Bank/financial institution
Who takes out the loan Student Student Parent Student 父母或有信用的人
Based on financial need Yes No No No No
以信用为基础或可能需要担保人 No No Yes Yes Yes
When payments start After student graduates and 6-month grace period* After student graduates and 6-month grace period* 只要贷款还清 只要贷款还清 只要贷款还清
当利息开始累积 After student graduates and 6-month grace period 只要贷款还清, even while student is in school 只要贷款还清 只要贷款还清 只要贷款还清
Key benefits
  • 通常较低的利率
  • Less interest will accrue and total repayment will be lower
  • 6个月的付款和利息宽限期
  • 不需要证明经济需要
  • Low, fixed interest rate
  • 6个月的付款和利息宽限期
  • Fixed interest rate
  • Tax-deductible interest
  • May be a good choice if parent has poor credit
  • 你能借多少就借多少吗
  • No prepayment penalties
  • Tax-deductible interest
  • 你能借多少就借多少吗
  • If parent has good credit, could qualify for a lower interest rate
  • 固定或可变利率

 

* Or, if student drops below half-time enrollment or leaves school.

How "Need" is Calculated

Most financial aid is awarded on the basis of "need", or the gap between a student’s cost of attendance (COA) and the "expected family contribution" (EFC). The cost of attendance includes tuition and fees, plus estimates of books, living expenses, and transportation costs. The expected family contribution is an amount calculated according to a federal formula that determines, based on information from your Free Application for Federal Student Aid (FAFSA), how much you (and your family) should be able to pay toward the cost of attendance.

If a student is not "independent" as defined by federal regulation (at least 24 years old, married, supporting dependents, is a veteran, or meets other criteria), the EFC is based in part on information from the student’s parents, 即使学生是自给自足的. A student cannot be considered independent just because parents refuse to provide their information on the FAFSA.

学业进展满意(SAP)

If you receive 第四章联邦财政援助 to pay for college, you must maintain satisfactory academic progress (SAP) in order to retain your financial aid eligibility. Failure to follow these important requirements will result in loss of the financial aid you may be receiving, which may mean you will not be able to complete your college education goals.

See SAP requirements

SAP Calculators

令人满意的学业进展 is mandated by federal regulation and includes cumulative GPA, 累计完成率, and Maximum Time Frame. Dual credit courses are included in these calculations. Students who do not meet standards have one semester of warning before financial aid is terminated. If a student successfully appeals the aid termination, aid is reinstated with the condition that they meet the terms of their Academic Completion Plan (ACP). Failure to meet the terms of the ACP may result in financial aid SAP termination with no further option to appeal. 

Ivy Tech provides calculators to help you estimate your academic progress with regard to the above requirements. 

SEE SAP CALCULATORS

Once you graduate, stop attending, or are no longer enrolled in at least 6 credit hours, you will be required to complete Direct Loan Exit Counseling, even if you plan to transfer to another school or return to Ivy Tech Community College in a future semester.Exit Counseling explains your responsibilities for repayment of your Direct Loan and provides information on how to manage your student loans.

要完成退出咨询,请访问 studentaid.gov and in the "I'm About to Graduate or Leave College" container, click on the “Complete Exit Counseling” link.

We've included a number of financial aid help videos lower on this page. If you'd like to explore our complete video library about loans, visit the loans section of our financial aid help video website. There you'll find dozens of videos that explain the financial aid process, 包括以下关于贷款的主题:

SEE ALL Help Videos

偿还学生贷款

If you (or your parents, if they obtained a PLUS loan to pay for your education) are the recipient of one or more student loans to pay for college, you’ll need to start paying back the loans when you graduate, 入学时间降至一半以下, or leave college.

基于贷款类型的还款

Loan Type When Payback Begins
Direct Subsidized Six-month Grace Period Before Payback Must Begin
Direct Unsubsidized Six-month Grace Period Before Payback Must Begin
联邦家庭教育贷款 Six-month Grace Period Before Payback Must Begin
Perkins Loan Nine-month Grace Period Before Payback Must Begin
Direct PLUS Loan 贷款全部发放后是否必须偿还

Your loan servicer (the company that collects your payments) will let you know when your loan payments are due, how many payments you must make to pay off the loan, 以及每次付款的金额. 

Visit the federal Student Aid website to learn more about repaying your loan, the types of loan repayment schedules, and other important information.

Missed Payments

If you’ve missed a payment or struggling to make payments, please contact your loan servicer immediately to discuss options to avoid defaulting on your loans. If you are unsure who your loan servicer is, please contact the 联邦学生援助信息中心 (FSAIC) at 1-800-433-3243.

Below are links to sources of additional information.

找到当地的经济援助联系信息

不要看到附近的财政援助地点? Call 1-888-489-5463 and we'll get you started.

Monday–Thursday, 8 a.m. to 5 p.m. ET
Friday, 8:30 a.m. to 4:30 p.m. ET

812-934-3954
R11express@tianhetextile.com

Batesville Financial Aid
1 Ivy Tech Drive
Batesville, IN 47006

Fax: 812-934-4590

Monday–Thursday, 10 a.m. to 5 p.m. ET:上门和预约
Friday: By appointment

812 -330-6160
bloomington-finaid@tianhetextile.com

Bloomington Financial Aid
200 Daniels Way
Bloomington, IN 47404

columbus-finaid@tianhetextile.com

Columbus Financial Aid
4475 Central Avenue
Columbus, IN 47203

Please contact Financial Aid at our full-service campus located in Richmond.

Please contact Financial Aid at our full-service campus located in Lafayette.

Monday–Thursday, 8 a.m. to 6 p.m. CT
Friday, 8 a.m. to 5 p.m. CT

219-981-1111, x7498
lakecounty-finaid@tianhetextile.com

Monday–Thursday, 8 a.m. to 6 p.m. CT
Friday, 8 a.m. to 5 p.m. CT

219-392-3600 x 3212
lakecounty-finaid@tianhetextile.com

Monday–Thursday, 8 a.m. to 7 p.m.
Friday, 9 a.m. to 4 p.m.
Saturday: Virtual 9 a.m. - 12 p.m. only

Open Saturdays: 9 a.m. – 12 p.M在以下日期:
October 14, 21; December 9, 16; January 6, 13; March 16

574-289-7001, ext. 5339
southbendelkhart-finaid@tianhetextile.com

埃尔克哈特财政援助办公室
22531 County Road 18
Goshen, IN 46528

Enrollment Services/Student Affairs Hours: Effective January 2024:
Mondays and Tuesdays: 8 a.m. – 6 p.m.
星期三和星期四:上午8点.m. - 5 p.m.
Fridays: 9 a.m. - 5 p.m.
First week of classes in January and August: 7:30 a.m. – 6 p.m.

812-429-1429
evansville-finaid@tianhetextile.com

埃文斯维尔经济援助办公室
3501 N First Avenue
Evansville, IN 47710

Monday–Thursday, 8 a.m. to 5 p.m. ET
Friday, 9 a.m. to 4 p.m. ET

260-480-4136
fw-finaid@tianhetextile.com

Fort Wayne Financial Aid
3701 Dean Drive, Student Life Center, Room 118
Fort Wayne, IN 46835

Fax: 260-480-2054

Please contact Financial Aid at our full-service campus located in Lafayette.

Please contact Financial Aid at our full-service campus located in Columbus.

Monday–Thursday, 8 a.m. to 6 p.m. CT
Friday, 8 a.m. to 5 p.m. CT

219-981-4417
lakecounty-finaid@tianhetextile.com

Please contact Financial Aid at our full-service campus located in Terre Haute.

Please contact Financial Aid at our full-service campus located in Columbus.

Monday 8:30 a.m. - 5:00 p.m. ET
Tuesday 8:30 a.m. - 6:00 p.m. ET
Wednesday 8:30 a.m. - 5:00 p.m. ET
Thursday 8:30 a.m. - 5:00 p.m. ET
Friday 9:00 a.m. - 4:30 p.m. ET

317-921-4300
HamiltonCounty-FinAid@tianhetextile.com

汉密尔顿县财政援助
300 N. 17th Street
Noblesville, IN 46060

注册获得回电话→

Fax
317-917-7196

Financial Aid Team

艾比·特雷米,财政援助主任
317-921-4300 ext 084209
atremain@tianhetextile.com

军事财政援助问题 & Veterans
HamiltonCounty-VeteransAffairs@tianhetextile.com

Monday–Thursday, 9 a.m. to 5 p.m. ET
Friday, 9 a.m. to 5 p.m. ET

1-888-489-5463
indy-finaid@tianhetextile.com

印第安纳波利斯财政援助办公室
50 W. Fall Creek Parkway N.
Indianapolis, IN 46208

注册获得回电话→

Fax: 317-921-4326

Monday–Friday, 8 a.m. to 5 p.m. ET

765-252-5571
kokomo-finaid@tianhetextile.com

Kokomo Financial Aid
1815 E Morgan Street
Kokomo, IN 46901

Logansport Financial Aid
1 Ivy Tech Dr
Logansport, IN 46947

In-person Services Wednesdays 8:30am-4:30pm, Virtual Services Monday-Friday 8am-5pm
765-252-5571

Logansport-finaid@tianhetextile.com

Please contact Financial Aid at our full-service campus located in Valparaiso.

Monday, Wednesday & Thursday, 8 a.m. to 5 p.m. ET
Tuesday, 8 a.m. to 6 p.m. ET
Friday, 9 a.m. to 5 p.m. ET

765-269-5200
lafayette-finaid@tianhetextile.com

Lafayette Financial Aid
Creasy Lane 3101 S Ivy Hall 1233
Lafayette, IN 47905

莱克县有3个全方位服务地点. Select a location below to see contact information for their Financial Aid department.

888-489-5463

劳伦斯经济援助办公室
9301 East 59th Street
Indianapolis, IN 46216

Monday–Thursday, 8 a.m. to 5 p.m. ET
8:30 a.m. to 4:30 p.m. ET, Friday

812-537-4010 ext. 5305
R11express@tianhetextile.com

劳伦斯堡财政援助
50 Walnut Street
Lawrenceburg, IN 47025

Fax: 812-537-0993

Monday–Friday, 8 a.m. to 5 p.m. ET

765-252-5571
Logansport-finaid@tianhetextile.com

Logansport Financial Aid
1 Ivy Tech Way
Logansport, IN 46947

In-person Services Wednesdays 8:30am-4:30pm, Virtual Services Monday-Friday 8am-5pm
765-252-5571

Logansport-finaid@tianhetextile.com

Monday & Wednesday, 8 a.m. to 5 p.m. ET
Tuesday and Thursday, 8 a.m. to 5:30 p.m. ET
Friday, 8 a.m. to 4:30 p.m. ET

812-265-2580, ext. 4100
madison-finaid@tianhetextile.com

Madison Financial Aid
590 Ivy Tech Drive
Madison, IN 47250

Financial Aid Team
朱莉·韦德,财政援助主任
jwade86@tianhetextile.com
812-265-2580, ext. 4148

周一,周四,周五,早上8点.m. to 5 p.m.
星期二和星期三,上午8点.m. to 6 p.m.

765-651-3100, ext. 3304
marion-finaid@tianhetextile.com

马里昂经济援助办事处
261 Commerce Drive
Marion, IN 46953

Monday–Thursday, 8 a.m. to 6 p.m. CT
Friday, 9 a.m. to 5 p.m. CT

219-879-9137
valpo-finaid@tianhetextile.com

密歇根市财政援助
3714 Franklin Street
Michigan City, IN 46360

Fax: 219-464-9751

Monday–Friday, 8 a.m. to 5 p.m. ET

765-289-2291, ext. 1230
muncie-finaid@tianhetextile.com

Muncie Financial Aid
高街125号,鲍尔大厦2楼
Muncie, IN 47304

Fax: 765-282-2414

Monday–Friday, 8 a.m. to 5 p.m. ET

765-599-2613, ext 4026
pburris4@tianhetextile.com

New Castle Financial Aid
3325 IN-3
New Castle, IN 47362

Fax: 765-282-2414

Please contact Financial Aid at our full-service campus located in Columbus.

Please contact Financial Aid at our full-service campus located in Sellersburg.

Please contact Financial Aid at our full-service campus located in Kokomo.

Monday–Friday, 8 a.m. to 5 p.m. ET

765-966-2656, ext. 1219
richmond-finaid@tianhetextile.com

Richmond Financial Aid
2357 Chester Boulevard
Richmond, IN 47374

注册获得回电话→

Zoom Video Call
Call 765-966-2656, ext. 安排一个约会.

Fax: 765-962-5054

Monday & Wednesday, 8:30 a.m. to 7 p.m. ET
Tuesday & Thursday, 8:30 a.m. to 5 p.m. ET
Friday, 8:30 a.m. to 3 p.m.

765-932-7191
mroller1@tianhetextile.com

Rushville Financial Aid
330 N Main Street
Rushville, IN 46173

根据要求进行虚拟会议或约会. Call 765-932-7191.

Fax: 765-932-5263

Please contact Financial Aid at our full-service campus located in Sellersburg.

星期一,星期三,星期四,早上8点.m. to 5 p.m. ET
Tuesday, 8 a.m. to 6 p.m. ET
Friday, 7:30 a.m. to 4 p.m. ET

812-246-3301, ext. 4504
sellersburg-finaid@tianhetextile.com

Sellersburg Financial Aid
8204号公路311,Pfau大厅A2
Sellersburg, IN 47172

Please contact Financial Aid at our full-service campus located in Columbus.

Please contact Financial Aid at our full-service campus located in Columbus.

Monday–Thursday, 8 a.m. to 7 p.m.
Friday, 9 a.m. to 4 p.m.
Saturday: Virtual 9 a.m. - 12 p.m. only

Open Saturdays: 9 a.m. – 12 p.M在以下日期:
October 14, 21; December 9, 16; January 6, 13; March 16

574-289-7001
southbendelkhart-finaid@tianhetextile.com

南本德财政援助部门
220 Dean Johnson Blvd.
South Bend, IN 46601

注册获得回电话→

To meet with a financial aid representative please use the link below:

http://ivytech.zoom.us/my/sbefinancialaid

Please contact Financial Aid at our full-service campus located in Evansville.

Monday–Friday, 8 a.m. to 4:45 p.m. ET

812-298-2293
th-finaid@tianhetextile.com

特雷霍特财政援助办公室
8000 S Education Drive
Terre Haute, IN 47802

Virtual On-Demand Service:
Video | Voice | Chat
Monday–Friday | 8 a.m. to 4:45 p.m. ET
Enter Zoom Room →

Monday–Thursday, 8 a.m. to 5 p.m. CT
Friday, 9 a.m. to 5 p.m. CT

219-476-1001
valpo-finaid@tianhetextile.com

Valparaiso Financial Aid
3100 Ivy Tech Drive
Valparaiso, IN 46383

Fax: 219-464-9751

星期一,星期三,星期四 & Friday, 8 a.m. to 5 p.m. ET(电话/虚拟服务)
Tuesday, 8:30 a.m. to 5 p.m. ET (on campus)

574-267-5428
warsaw-finaid@tianhetextile.com

Warsaw Financial Aid
西尔弗街2545号,209室
Warsaw, IN 46582