Financial Aid Programs

Eligibility: Tuition awards are based on a combination of academic strength, the family's ability to contribute as determined by the FAFSA and other financial aid received from Butler University.

Comments:

• Priority consideration is given to those who submit the FAFSA on or before March 1.
• Awards are not automatically renewed. Students must submit a FAFSA each year to receive consideration.
• Students must demonstrate financial aid eligibility each year.

Eligibility: Awards are based solely on financial aid eligibility as determined by the FAFSA and the number of hours enrolled.

Amount: Pell Grants range from $602 to $5,550 each year.

Comments:

• Pell eligible students may choose to charge their books and supplies to their student account.

Eligibility: Awarded to Indiana residents who attend an eligible Indiana college or university who demonstrate financial need.

Effective fall 2012 - Students must maintain the following GPA requirements in order to be eligible for an award:

• Freshmen must meet the Satisfactory Academic Progress (SAP) standards
• Sophomores: 2.25
• Juniors and seniors: 2.5

Amount: Tuition award amounts vary depending on financial need and the high school curriculum completed (Indiana Academic Honors diploma).

Comments:

• The FAFSA must be received by the federal processor on or before March 10 each year.

There is a new scholarship for students who graduate from a publicly supported high school at least one year early, after December 31, 2010.

For more information - click here.

Eligibility: A long-term, low interest student loan available to those who have financial aid eligibility as determined by the FAFSA.

Comments:

• Fixed five percent interest rate.
• Entrance counseling is required.
• Repayment of principal and interest begins nine months after graduating, leaving the university or enrolling less than half time (six credit hours).

Eligibility: A long-term, low interest student loan available in the form of a subsidized (need-based) and/or unsubsidized (not need-based) loan.

*The Budget Control act of 2011 eliminated the up-front interest rebate effective for all direct loans first disbursed on or after July 1, 2012.

Amount: Annual grade level maximums for dependent students:

• Freshman $5,500
• Sophomore $6,500
• Junior $7,500
• Senior $7,500

Comments:

• Interest Rates and Fees
• • Federal Direct Subsidized Loans borrowed in the 2012-2013 academic year will have an interest rate fixed at 3.4 percent.
  • Federal Direct Unsubsidized Loans borrowed in the 2012-2013 academic year will have an interest rate fixed at 6.8 percent.
  • As of March 1, 2013, an origination fee of 1.05 percent will be assessed by the lender at the time of disbursement. This fee is subject to change; refer to www.studentloans.gov for updates.
• Repayment begins six months after graduating, leaving the university or enrolling less than half-time (six credit hours).
• Independent students (as determined by the FAFSA) may be eligible for additional Federal Direct Unsubsidized loans.
• Students must be enrolled a minimum of six hours to be eligible for the Federal Direct Loan program.
• Beginning July 1, 2012, students are no longer eligible for the interest subsidy for Federal Direct Subsidized Loans during their grace period.

Eligibility: On-campus student employment offered to students who have financial aid eligibility as determined by the FAFSA.

Comments:

• Average award equivalent to eight to twelve hours per week at minimum wage.
• Award amount is not automatically deducted from the student's bill.
• Students receive a paycheck for the hours worked every two weeks.
• Students are required to pay taxes on earnings, however amount earned is not used against the student when determining financial aid eligibility in the following year.