Financial Aid Process and Tips

IBCS recognizes that the primary responsibility for financing a college education rests upon the students and their families. We also realize navigating the world of Financial Aid is daunting at times.

The IBCS Financial Aid Office is committed to helping students and their families understand the financial aid process. We are also committed to working with you to find ways to make your education at IBCS more affordable. Types of aid include institutional aid, federal grants, and federal loans.

Financial Aid and the FAFSA

The Financial Aid Office processes all federal grants on the basis of need as verified by the Free Application for Federal Student Aid (FAFSA).

Below are links to a Department of Education resource, “Federal Student Aid: Find the Information You Need”. These links provide access to numerous important student aid subjects. For example, FAFSA, Types of Aid/Getting Aid, Student Account Access, Repaying Loans, Preparing for College, Special Audiences, etc.

» Student Aid (English PDF)
» Student Aid (Spanish PDF)

Top 5 Points to Know about Financial Aid:

Students seeking IBCS institutional or federal student aid (Pell Grants or Direct Loans) must first complete the FAFSA (Free Application for Federal Student Aid)

Complete your FAFSA every year, as early as possible.

Go to: FAFSA link, IBCS website: Free Application for Federal Student Aid (FAFSA) or www.fafsa.ed.gov

Enter IBCS’s school code 033473; this will automatically send FAFSA information to IBCS Financial Aid
The FAFSA is available in English and Spanish.
FAFSA YouTube helps: 2018-2019 FAFSA Demo; FAFSA and FSA ID Tips for Parents
FAFSA4caster – Use FAFSA4caster to get an early estimate of eligibility for federal student aid.

Remember:

Completing the FAFSA is always free; never pay anyone to assist you with your application!
Data entered must be accurate, do not skip, guess, or estimate answers

IBCS strongly recommends selecting the IRS DTR (Internal Revenue Service Data Retrieval Tool) when completing your FAFSA! 2021-2022 FAFSA, use filed 2020 tax returns.

The IRS DRT is the easiest way to input required income tax data into the FAFSA
It ensures accurate and secure transfer of income tax information into the FAFSA
Simple Steps to Transfer Tax Information into your FAFSA Form (IRS DRT)

The Department of Education randomly selects FAFSA forms for Verification

IBCS Financial Aid will notify families of FAFSA Verification requirements
The IRS is less likely to select Students/Parents using the IRS DRT for FAFSA Verification. If the IRS selects you for FAFSA Verification, use the IRS DRT to greatly expedite the verification process.

FAFSA Dependency Status

Generally, a single student born on or after January 1, 1997 will be considered a “dependent” student regardless of how the student files his/her income taxes. A student who was born before January 1, 1997 is considered “independent” and does not need to file parent information on the FAFSA form.

Submit IBCS Scholarship Applications to the Financial Aid Office prior to July 1 if you wish to be considered for IBCS Institutional Financial Aid.

Contact financialaid@ibcs.edu for more details.

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