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.
• Students must be enrolled at least half time at ISU (minimum of 6 semester credit hours) to qualify for College Work Study employment opportunities with ISU.
• 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.

The consortium agreement applies to the following Financial Aid programs:

Federal Pell Grant	Federal Direct Subsidized and Unsubsidized Loan
Federal Supplemental Educational Opportunity Grant	Federal PLUS Loan
Federal Teach Grant

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

ISU Grant	Transfer Achievement Award (TAA)*
Supplemental ISU Grant	Return to Iowa-Generations*
Academic Recognition Award (ARA)*	Non-resident Initiative to Command Excellence (NICE)*
Award for Competitive Excellence (ACE)*	All-Iowa/State/USA*
Cardinal Leadership Scholar Award*	Loyal Scholarship*
Forever Scholarship*	True Scholarship*
Adventure Award*	Journey Award*
Guest Award*	Generations Award*

*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.