FINANCIAL AID INFORMATION


Financial Aid
IAIA is committed to ensuring that the opportunity for post-secondary education not be denied to any student because of limited finances. To accomplish this end, IAIA offers eligible recipients scholarships, grants, and jobs funded by a variety of public and private sources which are packaged by the Financial Aid Manager to assist in meeting the students’ financial needs. Students should keep in mind that all financial aid programs assume that the student will contribute to the cost of his or her education.

Financial Aid is available for eligible students who demonstrate need. The forms of aid available at IAIA may include the IAIA Scholarship, the Federal Pell Grant, College Work/Study jobs, New Mexico Student Incentive Grants, Federal Supplemental Educational Opportunity Grants, and Tribal Higher Education scholarships. The Financial Aid Office provides counseling regarding aid and assistance with financial aid applications to all students.

Download IAIA Financial Aid Manual >>

Free Application for Federal Student Aid (FAFSA)
Individuals seeking financial aid must complete the FAFSA. The FAFSA is used to determine if an individual qualifies to receive financial aid like the Pell Grant and other need based scholarships and funding. The FAFSA application is available from high school counselors, at public libraries, and from IAIA. However, IAIA encourages individuals to apply online at www.fafsa.ed.gov. Applying online significantly reduces FAFSA processing time. There are two steps to completing the FAFSA online:

Step 1: Register for your Personal Identification Number (PIN) at www.pin.ed.gov
Step 2: Apply for aid. Fill out an electronic FAFSA at www.fafsa.ed.gov

Individuals completing the FAFSA will need their last year’s taxes, and, if considered a dependent, their parents’ last year’s taxes. Also, if individuals are interested in attending IAIA, you will need to enter IAIA’a school code, #014152.

The Department of Education utilizes Federal Needs Analysis Methodology along with various information reported on the FAFSA to determine an individual’s Expected Family Contribution (EFC). After processing the FAFSA, the Department of Education sends the individual a Student Aid Report (SAR) and sends the school(s) listed on the FAFSA an Institutional Student Information Record (ISIR). The SAR and the ISIR contain information regarding the individual’s EFC. The difference between the individual’s EFC and the cost of attendance at the school determines an individual’s unmet need. IAIA’s cost of attendance includes the following: tuition, fees, room and board, books and supplies, transportation, and personal expenses. If you have questions regarding the FAFSA, please call 1-800-433-3243 or e-mail financialaid@iaia.edu .

Federal Pell Grants
This is a federally funded program which provides funds for educational expenses to students enrolled at the Institute. This is a grant and does not have to be repaid. Eligibility is governed by federal regulations and is determined by a standard formula created by the U.S. Congress (the Federal Needs Analysis Methodology) which ensures that all students are treated equally. Students apply for a Federal Pell Grant by submitting the FAFSA.

Students who have already earned a bachelor’s degree, or are in default on a federal loan or a refund on a federal grant, are not eligible for a Federal Pell Grant award. The Federal Needs Analysis Methodology is, however, used to determine eligibility for other programs such as Federal Work Study and for Tribal Higher Education Grants. Students are required to submit the FAFSA for consideration for any form of financial aid.Federal Pell Grants range from $400-$4,050 (pending federal budget approval) and are intended to assist with the total cost of education (tuition, room, board, personal expenses, transportation, art supplies, and books). The amount a student receives is based on the following:

• Student eligibility as determined by the Federal Pell Grant Program
• The cost of education at IAIA
• Student enrollment status (full-time, 3/4 or 1/2 time)
• The Estimated Family Contribution (EFC) a number calculated for the Federal Pell Grant program according to the Federal Needs Analysis Methodology

Students who receive federal financial aid who drop below full-time (12 credit hours) during the semester will have their financial aid reduced accordingly. This can result in having to repay financial aid funds already received.

Federal Pell Grants may be credited to a student’s account for any outstanding educational expenses or disbursed directly by check to the student. IAIA will initially credit the student’s account for any unpaid charges for tuition and fees, and room and board. Any remaining balance will be disbursed to the student.

Financial aid refund checks will be available on the Friday after the Last Day to Drop Courses (without it appearing on the transcript).

Financial Aid Deadlines
For Fall enrollment, the FAFSA is due to the Financial Aid office by April 1. Financial Aid will be awarded on a rolling basis for applications received after this date. For Spring enrollment, the FAFSA is due to the Financial Aid Office by December 1, with rolling awards for applications received after this date.

Students must reapply for financial aid each academic year.

American Indian and Alaska Native students should contact their Tribal Higher Education Scholarship Office or Alaska Native Corporation Scholarship Office as soon as possible to apply for Tribal or Corporation scholarships. The IAIA Financial Aid Manager cannot request Tribal or Corporation scholarship funds for any American Indian or Alaska Native student until all original FAFSA documentation is received and processed by the IAIA Financial Aid Office. The processing time for financial aid need analysis forms is approximately four to six weeks. Tribal and Corporation Scholarship Offices have firm deadline dates. Students must apply early.


IAIA Scholarships

IAIA Tuition Scholarship

Eligibility: The IAIA Tuition Scholarship is a need-based scholarship. To be eligible for the award, a student must be an enrolled member of a federally recognized American Indian Tribe or Alaska Native Corporation, submit a copy of a Certificate of Indian Blood or other eligible documentation, submit a FAFSA, have a demonstrated financial need, maintain a 2.0 cumulative grade point average (CGPA*), and be a degree seeking student enrolled in at least 6 credit hours. New, transfer and current students are eligible to receive the tuition scholarship.

*A student’s CGPA is based on all classes taken at IAIA. Transfer classes are not calculated in the CGPA. If a student retakes a course, the best grade from the course is calculated in the student’s CGPA, not both.

Award Amounts: For full-time students, the award is $500 per semester, and for part-time students, enrolled in 6 – 11 credit hours, the award is $200 per semester. Students who are enrolled in less than 6 credit hours do not qualify for the tuition scholarship.

Lifetime Limits: The associate degree lifetime award limit is $ 2,500 (five full-time semesters). The bachelor degree lifetime award limit is $ 5,000 (10 full-time semesters).

Awarding: The IAIA Tuition Scholarship is determined after a student is admitted. If a student qualifies, the award is placed on the student’s award letter at the beginning of the semester.

Credit Hour Verification and Disbursement: The student’s credit hours are verified at mid-term. If the student withdrew from any courses, the award maybe prorated following mid-term credit hour verification. Also, at mid-term, if the student no longer has an unmet need, the student no longer qualifies for the scholarship and the scholarship will be removed from the student’s award letter. The scholarship is disbursed the first Friday following the date mid-terms are due to the Registrar’s Office. Under no circumstances is the award disbursed before midterms.

IAIA Merit Scholarship

The IAIA Merit Scholarship is based on a student’s CGPA. In order to qualify for the IAIA Merit Scholarship, a student must be a full-time degree-seeking student. New students who graduated from high school, transfer students, and continuing students are all eligible to receive the award.

New Students: For new students who have graduated from high school with no prior college experience, their high school CGPA is used to determine eligibility. New students who have successfully earned their GED are not eligible to receive the merit award their incoming semester; however, they are eligible to receive the scholarship their second semester.

Transfer Students: For transfer students, their CGPA from their most recent college transcript is used to determine their eligibility. The college attended must be accredited; if not, the student is not eligible to receive the merit scholarship for his or her first semester.

Continuing Student: For continuing students, the students’ last semester’s CGPA is used to determine scholarship eligibility. For example, if a student’s CGPA is a 3.25 following the completion of the fall 2005 semester, the student would be awarded $500 the next full-time semester.

Award Amounts: The award amounts vary depending on the student’s CGPA. Please refer to the table below for details.

Awarding and Disbursement: Following the review of the student’s CGPA, the award will be posted on the student’s award letter. The scholarship is disbursed the first Friday following the last day to drop a course without the course appearing on the students’ transcripts.