IBA Scholarship and Grant eligibility is determined upon acceptance to the University and completion of the Free Application for Federal Student Aid (FAFSA). The following information describes eligibility criteria for the various federal, state and institutional funds that are available through IBA.
Multiple Grants and Scholarships Policy
The initial institutional merit-based award is offered without regard for financial need. Students who may be eligible for multiple institutional grants and/or scholarships will receive at least the value of the highest grant or scholarship.
It is our policy not to "stack" multiple institutional awards on the basis of merit. Consideration that is given for any portion of a second grant/scholarship or award made up from IBA dollars will be based on financial need and will require that the student file the Free Application for Federal Student Aid (FAFSA).
Maintaining Your Federal Financial Aid Eligibility: Satisfactory Academic Progress
Federal regulations require the IBA to establish Satisfactory Academic Progress (SAP) standards for students receiving federal financial aid. In order for a student to continue receiving federal financial aid, the student is required to meet 3 standards of academic progress each academic year.
• Completion Rate (at least 67% of the credit hours attempted are earned)
• Cumulative GPA (see handbook for minimum GPA requirements per credit hours attempted)
• Maximum Timeframe (must complete degree within 150% of the published length of the program)
The Office of Student Financial Services will review the SAP standards of each student at the end of the Spring semester. Students will be notified if/when they are not meeting the standard(s). Information concerning the appeal process will be included. Details about the SAP policy can be found in the University’s catalog.