Student Financial Services

Financing your education shouldn't be an obstacle to your success at IBMC. We offer students several options for payment of tuition. All students are encouraged to apply for financial assistance if unable to meet educational costs on their own.

FAFSA

Our Student Financial Services Department will help you assess your individual situation and your eligibility for assistance. We'll work with you to find aid that is most applicable and will assist you with completion of the necessary paperwork.

To apply for financial aid, a student must first complete the admissions acceptance process. The student then completes a standard application called the Free Application for Federal Student Aid (FAFSA). We encourage students to apply online at www.fafsa.ed.gov which requires a PIN (Personal Identification Number). You can apply for a PIN at www.pin.ed.gov. Students will also need IBMC's School Code (030063) to complete the application.

IBMC participates in the U.S. Department of Education's Federal Financial Aid programs. This aid is available to all who qualify. IBMC is also approved for the training of veterans.

Financial Aid Programs

The following financial aid programs are available at IBMC:

Federal Pell Grants
Pell grants provide many students a foundation to which other aid is added.

Academic Competitiveness Grant
The Academic Competitiveness Grant (ACG) is available to first year students who have completed, with passing grades, a rigorous secondary school program of study after January 1, 2007 ("rigorous" is determined by each state and approved by the U.S. Secretary of Education).

Federal Supplemental Educational Opportunity Grant
FSEOG funds are awarded to students with exceptional financial need with priority given to Pell Grant recipients.

FFEL Stafford Loan and Federal Direct Loan Programs (Subsidized and Unsubsidized)
Stafford loans are interest (subsidized) or low-interest (unsubsidized) loans borrowed from various lenders and the Department of Education for educational expenses.

If you have Stafford Loans and wish to complete Stafford Loan Entrance or Exit Counseling, please visit EdFund and click on "EdTest" in the upper right-hand corner of the screen, or, if your Stafford loans are Direct Loans, go to Direct Loan Servicing.

FFEL PLUS Loan and Federal Direct Plus Programs
Parents may borrow under this program to pay for educational expenses for their dependent undergraduate students.

Federal Work Study
Through the FWS Program, undergraduates work part time either on campus or with a community service organization.

Interest-Free Payment Plan

IBMC also has a monthly interest-free payment plan available for those students who wish to pay cash for part, or all of their education. There is a five percent cash discount for students who pay for an entire program up front.

Scholarships

High School Scholarships

IBMC has a Presidential Scholarship available to current High School graduates. The applications are available in the Student Financial Services Office and from high school counselors in the local community; or, you can download the application here.

 

Family Scholarships

IBMC has a Family Scholarship available to immediate family members (spouse, child or sibling) of students who are currently attending, or have graduated from the college. The applications are available in both the Admissions and Student Financial Services Offices; or, you can download the application here.