Consortium Agreement

• The student must be taking at least one semester course at ISU to qualify for financial aid through the ISU
  Office of Student Financial Aid (OSFA).
• Student must have completed at least one semester at ISU before a consortium agreement will be considered.
• The consortium agreement will release federal financial aid (Pell Grant, SEOG, Perkins Loans, Federal Direct
  Subsidized/Unsubsidized Loans, Parent PLUS Loans, and the TEACH Grant) and private student loans.
• The consortium agreement will not release ISU Grant, scholarships, or State of Iowa grants and scholarships
  unless the student is enrolled with enough ISU credits to retain qualification for these funds.
• The ISU student is responsible for any expenses (i.e., tuition, fees, books) charged by the other (host)
  institution prior to when ISU financial aid is disbursed/available
• The ISU student’s financial aid will not be disbursed until the ISU OSFA receives the consortium agreement
  completed by all parties (but not prior to approved disbursement dates).
• A transcript of the classes for which the student is receiving financial aid must be sent to and accepted by ISU
  as transfer credit before another consortium agreement will be reviewed. (Future financial aid disbursements may
  be held until a transcript is received by ISU.)
• The student must inform the ISU OSFA in writing if they drop any courses at the other (host) institution.
• The host institution must promptly inform the ISU OSFA in writing if the student withdraws from the host
  institution or drops a course reported in the agreement.
• The host institution does not provide financial aid to the student for the semester specified in the agreement.
• Consortium agreements will not be approved for previously completed semesters. The consortium agreement must be
  submitted before the completion of the semester in which aid is requested.
• The student must be making Satisfactory Academic Progress at both Iowa State University and the host
  institution.
• Host institution courses are not considered for the student’s final 32 credit hours of their ISU degree program.

The consortium agreement applies to the following Financial Aid programs:

The consortium agreement does not apply to the following Financial Aid programs:

*If a student is not enrolled in 12+ credits at Iowa State University, the award is not available for
the semester. If the student is full time between Iowa State University and another college/university, the award
can be renewed for future semesters. However, the semester with a consortium agreement will still count as one of
the eight total semesters to receive the award.