Financial Aid and Non-IU Programs

Y496

Students who receive or have previously received federal aid or loan money:

  • *Students who previously havehad federal loans or grants as well as those who wish to continue receiving federal loans or grants (including private loans that are normally disbursed through IU), must enroll in a special placeholder course (OVST-Y 496).

Eligibility:

  • Student MUST be enrolled full-time overseas and have endorsements from their academic department and Education Abroad based solely on academic need.
  • The credits MUST satisfy a student’s degree requirements (major, minor, distributional, required electives, etc.). A program of elective credits abroad, above and beyond the minimum credits required for a degree program, does not qualify a student for enrollment in Y496.
  • Students must have a cumulative GPA of no less than 2.0 and not be on academic probation.
  • The Y496 process must be initiated before your program abroad begins.
  • Credit from your program must be transferred within six months of the termination of the program otherwise all financial aid will need to be repaid and/or future financial aid will be cancelled. The transferred credit must show that you were enrolled full-time while abroad.

 

*Exceptions:

Summer: During the summer term, if student does not have federal aid available, or does not want to use federal aid (or need a loan deferment for summer enrollment), student will enroll in OVST-Y 498.

Y498

All other students:

  • *Students who do NOT receive or have NOT previously received federal loans or grants OR
  • Students who receive institutional, or IU departmental, or external scholarships or grants OR
  • Students who do not receive any financial assistance

Eligibility:

  • Student must be registered in a credit-bearing program that has been approved by Indiana University.
  • Students must meet the enrollment expectations of their scholarship or grant provider (if applicable).
  • The credits MUST satisfy a student’s degree requirements (major, minor, distributional, required electives, etc.). A program of elective credits abroad, above and beyond the minimum credits required for a degree program, does not qualify a student for enrollment in Y498.
  • Students must have a cumulative GPA of at least 2.0.
  • Credit from the program must be transferred within six months of the termination of the program otherwise all financial aid (if applicable) will need to be repaid and/or future financial aid will be cancelled.

*Exceptions:

Summer: During the summer term, if student does not have federal aid available, or does not want to use federal aid (or need a loan deferment for summer enrollment), student will enroll in OVST-Y 498.