Packaging Philosophy There are basically three types of aid that may be awarded in a financial aid package. Scholarships and grants are referred to as "gift aid" and do not have to be repaid Loans are generally repayable with interest after the student ceases half-time enrollment Earnings from employment are often used to meet college expenses. The university first determines the student's eligibility for all types of gift assistance. These gift aid sources include Federal Pell Grant, Indiana's Higher Education and Freedom of Choice grants, and other awards based on talent and entitlements. Additional gift assistance from university funds may be awarded depending on the student's academic performance and financial need. University gift assistance, in combination with the expected family contribution and gift aid from other sources, is targeted to the cost of tuition, room and board, and books. If financial need remains after gift aid has been awarded, loan or work awards are given. If funds are insufficient to meet the full need of all students, a gap of unmet need is left in each student's aid package. As a general rule, students should not expect to receive financial assistance from institutional gift aid sources in combination with other gift aid in excess of university-assessed charges for tuition, room and board. Students who are in their fifth year of study or who applied after the March 10 FAFSA receipt date deadline may receive less gift assistance depending upon the availability of funds. Limited funds are available for undergraduate students who have completed five years of full-time study. Appeals Process Students may make a written request for a review of their application if they believe the financial aid award is not equitable. Appeals will be reviewed, and students will be notified of the final decision.