Indiana University students and their families now have a one-stop shop for information about the university’s newest programs aimed at making college more affordable, promoting on-time completion and improving financial literacy among students. IU’s new College Affordability website, which can also be accessed off IU’s main website, www.iu.edu, or directly at affordability.iu.edu, provides detailed information on the university’s three newest initiatives related to affordability and financial literacy as well as links to a host of other valuable resources for students and their families. Visitors to the site will find links to the MoneySmarts financial literacy program, which rolls out this fall, as well as information on IU’s summer tuition discount program, which is in its second year, and the new Finish in Four initiative that debuts in the fall semester.
This multifaceted financial literacy program provides students with the knowledge they need to make smart financial decisions while in college. Beginning with the fall semester this year, all incoming students will be required to take an online financial literacy course designed to help them understand the challenges of managing their money during college. In addition, financial peer counseling and educational materials will be made available to students.
Beginning last year, summer session tuition was reduced for all undergraduates across seven IU campuses. The discounts — 25 percent for Indiana resident students and an equivalent dollar reduction for nonresident students — saved IU students a collective $12 million in tuition last year. The program has been continued for this year.
Announced in October 2012, the Finish in Four program effectively freezes tuition and fees for a student’s final two years, as long as the student is on track to graduate in four years after his or her sophomore year and remains on track thereafter. The award will be available to all undergraduates who qualify across seven IU campuses beginning with the fall semester this year.