Financial Aid for College
*TYPES OF AID:
- Grants: awards typically based on financial need that do not need to be repaid. An example is the Federal Pell Grant. Eligibility often depends on your EFC and/or financial need.
- Scholarships: are awards usually based on achievement or talent that also do not need to be paid back. Also, your prospective college(s) may offer scholarships based on academic merit and/or financial need. Our "scholarships" tab offers helpful search resources.
- Federal Work-Study (FWS): provides part-time jobs for students with financial need. The jobs are usually available on or near campus. A list of available jobs can be found at the college’s financial aid office or student employment office.
- Loans: are funds that must be paid back, usually with interest. There are federal student loans, federal parent loans, and private or alternative loans. The good news is that interest rates for education loans are currently at historic lows.
- In order to receive need-based Financial Aid through the FAFSA (Free Application for Federal Student Aid), you must fill out your FAFSA early! The first day for seniors to begin this application is October 1st, 2019!
Go to http://fafsa.gov to complete the FAFSA.
More Information on Financial Aid
- Financial Aid News: http://www.financialaidnews.com/
- FAFSA: http://fafsa.gov
- 360' of Financial Literacy: http://www.360financialliteracy.org
- LadderUp: http://www.goladderup.org
- Illinois Student Assistance Commission (ISAC): http://www.collegezone.org
- Loan Information: https://studentloans.net/guide-to-paying-for-college/