Financial Aid

The purpose of the Financial Aid Program is to provide assistance to students who might find it difficult to attend college. The need for financial assistance is determined by subtracting the expected Family Contribution from the estimated cost of attending Iowa Central College Online. The dollar amount of the expected family contribution is determined by the Federal Government through the Financial Aid application process. The Financial Aid Office then subtracts the expected contribution from the college expenses for the year and the difference is the financial need. Available financial aid is then awarded to the student. The total financial aid award may not exceed the total estimated cost.

Free Application for Federal Student Aid
Iowa Central Community College Title IV code is 004597

Information and Forms

Complete Online MPN

Online Student Loan Counseling (entrance and exit counseling)

• Federally funded gift aid.
• Students must demonstrate need.
• Students must be an undergraduate.

• Federally funded gift aid administered by Iowa Central.
• Students must demonstrate need.
• Students must be undergraduate.
• Awards limited to funds available.

• Part-time work opportunities on campus.
• Federally funded, Iowa Central administered.
• Students must demonstrate need.
• Awards limited to funds available.

• Iowa resident students.
• Enrollment in Career or Career Option programs.
• Students must demonstrate need.

• Iowa resident students with very low expected family contribution.
• Maximum award is $1,000.00

• Variable interest loans (capped at 8.25%)
• Students must demonstrate need for subsidized Stafford loan.
• Maximum loan $2,625 for first year, $3,500 for second year.

• Loans available to parents of dependent students.
• Available from commercial lenders.
• Financial need is not required.

1. Apply and be accepted by the college.
2. Complete a free application for Federal Student Aid (school code is 004597). Applications are available from Iowa Central or high school counselors.
3. Complete any additional documentation requested by Iowa Central. (This may include a copy of your/parent’s Federal Income Tax return)
4. Financial Aid Awards are made on a first-come, first-serve basis as students’ files are completed. Award notifications are usually made to students in the late spring and early summer.

General Eligibility Requirements
All students seeking Financial Aid must

1. Be enrolled or accepted for enrollment in a program at least six months in length,
2. Intend to complete the program and receive a degree related to the educational objective,
3. Be a United States citizen or eligible non-citizen,
5. Not be in default for any previous loans disbursed,
6. Not owe a refund on any previous Federal Student Aid, and
7. Maintain satisfactory progress.

Federal Pell Grant Federal PLUS Loan
Federal Work Study Partnership Loan
IA Voc Tech Tuition Grant Federal SEOG
Federal Stafford Loan IA National Guard Program

Standards Requirements

1. Successfully complete 67% of attempted credit hours. This will be measured on a cumulative basis. Example: If the student attempts a total of 24 credit hours the first academic year, the student must satisfactorily complete 16 credit hours. (Example: 24 credit hours x .67 (67%) = 16 credit hours.)
2. Completion of the academic program in 150% of the published credits of the program. Example: Associate in Arts degree = 60 credit hours. Maximum attempted credit hours permitted to complete this program would be 90. (Example: 60 credit hours x 1.5 (150%) = 90 credit hours.)
3. Minimum Cumulative Grade Point Average. (cumulative GPA of 2.00 must be met)

1. Credit/no credit, course repeats, withdrawals, incompletes, and developmental courses will be included as part of the student’s cumulative credit hours attempted for maximum time frame purposes.
2. In computing the cumulative grade point average for graduation, only the most recent grade earned in a course, that has been repeated, will be used.
3. Transfer Students are considered to be making satisfactory academic progress for financial aid purposes upon initial enrollment. Upon enrollment, relevant transfer credits and GPA that become part of the student’s academic record at Iowa Central will be included in the student’s satisfactory academic progress calculation.
4. Courses taken for audit, hours via Institutional Proficiency Exams, Advanced Placement and hours via the College Level Examination Program will not be included as a part of the student’s cumulative credit hours enrolled for maximum time frame purposes.

1. Academic progress will be reviewed following each term to determine if the “Standard Requirements” have been met.
2. Financial Aid Probation- The first term the student fails to meet the “Standard Requirements” the student will be placed on Financial Aid Probation. This probationary period should be utilized by the student to meet the “Satisfactory Academic Progress Standard Requirements.”
3. Financial Aid Dismissal – Students failing to show satisfactory progress during their probationary period will be placed on Financial Aid Dismissal. A student may not receive any aid listed above while on Dismissal.

1. Complete the number of credit hours necessary to achieve the 67% requirement and/or minimum cumulative grade point average needed for their grade level. This will be at the student’s own expense. When these hours have been completed, the Financial Aid Office must be notified so eligibility for aid can be reinstated.
2. If special circumstances exist (ex. Death of family member, personal or family illness, family crisis), the student may submit a letter of appeal to the Financial Aid Office stating the reasons the “Standards Requirements” were not met. Appropriate third-party professional documentation may be required. The Academic Standards Committee will review the appeal. If the appeal is approved, eligibility for financial aid will be reinstated.