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The Financial Aid Process

Presented by:

Payton Major

College of DuPage District

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Disclaimer

While I am not an employee of the Illinois Student Assistance Commission (ISAC), I present this information with ISAC’s permission. The information in this presentation is solely for informational purposes and is a FREE public service to help families navigate the college planning process. The information provided is believed to be accurate and reliable as of the last updated date reflected below. You can contact ISAC at 800-899-4722 for additional information.

ISAC_FAP_English-Public 8-19-25

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The ISACorps

The ISACorps is a group of recent college graduates who work for the Illinois Student Assistance Commission (ISAC) to help high school students navigate the college and financial aid process. We serve as near-peer mentors, providing free resources on college applications, financial aid, scholarships, and career planning.

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The Illinois Student Assistance Commission (ISAC) is the college access and financial aid agency in the state of Illinois that administers scholarship, grant, prepaid tuition, and student loan repayment and forgiveness programs.��ISAC’s Mission Statement is “Providing Illinois students with information and assistance to help make education beyond high school accessible and affordable.”

About ISAC

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About Me

I recently graduated from Northern Illinois University with a degree in Psychology

I can help with the college and financial aid processes

Here to answer any of your questions about the college-going process

I work in the College of DuPage District

All my services are completely FREE

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Ask Questions!

There are many things to consider
Some common questions include:

How much does college cost?
What is financial aid?
When and how do I apply?

What other things come to mind?
Ask me, I’m here to help!

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What is Financial Aid?

Money from various sources to help you pay for college

Makes college affordable

Helps cover the gap between what you can afford to pay and the cost of college

Can be given, borrowed, or earned

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Postsecondary Education

An institution of higher education that awards a degree or credential post-high school graduation
Includes, but is not limited to, universities, colleges, and trade schools

Up to 2 years

Vocational/Trade

2 years

Associate’s Degree

4 years

Bachelor’s Degree

Bachelor’s plus 1-3 years

Master’s Degree

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Cost of Attendance

Colleges create a budget to show the total cost for the school year, known as the cost of attendance (COA)
Direct expenses are those paid directly to the institution
Indirect expenses are not always paid directly to the institution

Tuition & Fees	Direct
Living Expenses (Food & Housing)	Direct or indirect
Books, Course Materials, Supplies & Equipment	Indirect
Transportation
Miscellaneous Expenses
= Cost of Attendance

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Types of Financial Aid

Gift Aid �*Free Money

Grants- Usually need-based
Scholarships- Awarded for many reasons

Self-Help Aid�Borrowed or earned

Loans- Must be paid back
Federal Work-Study- Earned by working

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11

US DEPARTMENT OF EDUCATION

ISAC

COLLEGES AND UNIVERSITIES

PRIVATE SOURCES

Sources of Financial Aid

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Tip #1: to look for scholarships, think about what you buy, eat, wear
Tip #2: local scholarships = less competition (smaller applicant pool)
Tip #3: be careful with scholarship scams (don’t pay for free money!)

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Federal Gift Aid

Pell Grant	Need-based Up to $7,395
FSEOG (Federal Supplemental Educational Opportunity Grant)	Need-based & campus based Ranges from $100 to $4,000

The U.S Department of Education is the largest source of student aid.

The Federal Pell Grant is the largest grant program administered at a federal level. It is a need-based grant program for undergraduate students to cover any educational expenses such as tuition, room and board, or other miscellaneous fees. The awarded amounts are depending on funding approved by the Federal government and are calculated by the college.

FSEOG is a grant is prioritized and awarded to undergraduate students with exceptional need, this grant can also be awarded to Pell Grant recipients. The college or institution determine the eligibility based on the student's need and availability of funds at the college. If a student is eligible, they will be notified via the financial aid award notification.

No additional application is required other then the FAFSA to be considered for FSEOG.

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Federal Self-Help Aid

Federal �Work-Study	Campus-based (only available at participating schools) Amounts are determined by the college
Federal �Subsidized Loan	Need-based Student is responsible for repaying Federal government pays interest while: in school, grace period, or authorized period of deferment
Federal �Unsubsidized Loan	Not need-based Student is responsible for repaying Student is responsible for the interest even while in school
PLUS Loan	Credit-based Parent (or graduate student) is responsible for repaying

Federal work-study is a need based that allows eligible students to work part-time on or off campus. A Federal work-study job can differ from other jobs for two reasons: (1) work study jobs offer flexible hours and ensures that students have enough time to study and do homework. (2) when students apply for financial aid the following year, money earned through this program is not used to determine financial need. *Note that funds for this program are limited.

Work-study helps students pay for educational expenses, for example: books, supplies, and personal expenses. All funds awarded must be earned and students are responsible for securing a job on campus.

To be considered for Federal Work-Study you must fill out the FAFSA, starting 2024-2025 FWS is no longer a question on the FAFSA, but colleges use SAI to determine eligibility and amounts.

Federal Subsidized Loan is a need-based loan offered to eligible undergraduate students. The federal government is in charge of paying the interest rate on your behalf while you are enrolled at least half time, during grace periods and authorized periods of deferment. For example, if you borrow $1,000 freshman year and you stay in school full-time for four years, when you graduate you will still only owe $1,000 because the federal government would have paid the interest on your behalf.

Federal Unsubsidized Loan does not require for you to have financial need; however, you are always responsible for paying the interest. You can pay some of it while in school or you can hold off until the loan accrues and capitalizes. If you allow it to accrue, the interest will be added to your principal balance to be paid off with the rest of your loan when you stop attending on at least a half-time basis. With this loan, on the other hand, if you borrow $1,000 freshman year, when you graduate from college, you will owe more than just the initial $1,000 because interest will have accrued on your loan.

Plus Loans are credit based and tend to have a higher interest rate. This loan is offered to graduate/professional students and parents of undergraduate students. This loan does not have a grace period, and payments begin within 60 days of the final disbursement, but parents can request to defer payment until graduation or six months after graduation. It is important to note that this is an unsubsidized loan therefore interest will continue to accrue even when the student is enrolled in college.

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Should I Consider Student Loans?

Source of the Loan

Know where the money comes from

Federal vs. private loans

Interest Rate

Know your rate

Is it variable? Fixed?

Repayment & Grace Period

When are you required to start paying?

What repayment options do you have?

Subsidized vs. Unsubsidized

Subsidized loans are generally more desirable

When does the interest begin to accrue?

It is important that research your loan options carefully, make sure you are aware of these 3 things:

1. Source of the Loan - What is the source of your loan? Is it a federal loan or a private loan, It is important to know where the loan is coming from. Let’s say for example that your loan has not been posted to your student account or you have questions, you need to know who you should contact.

2. Interest Rate - What is the interest rate? Is it fixed, meaning the rate of the loan won’t change or is it variable, meaning the interest rate can go up or down. It is important that you are aware of your interest rate because it will help you know how much money you will owe in the long run.

Repayment & Grace Period – These options typically only apply to federal loans (not private loans). The federal government offers a variety of payment plans that allows you to lower you monthly payments based on your income. There are also options that allow you to make smaller payments or stop your payments in the event of unforeseen circumstances such as job loss, illness, disability, or other acceptable circumstances. The Grace period is only a set amount of time that is given by the federal government before you are required to start making payments either after you graduate or separate from your institution.

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Other Loan Considerations

Borrowers are not required to accept all loans offered

Borrowers can reduce amounts or decline loans

Loans from the Department of Education have additional benefits

Fixed interest rate
Subsidized vs. Unsubsidized
Grace period
Deferment/ Forbearance options
Repayment plan options

When considering loans it is important for student’s to realize that they have the option to reduce or decline loans, they are not required to accept loans just because they were offered to them. However, students should realize that if they should choose to decline or reduce a loan amount it is there responsibility to fill any remaining financial gap.

Student’s should also know the benefits of borrowing from the Department of Education. Loans from the Department of Ed offer:

Fixed interest rate – as opposed to a variable interest rate. This means that the interest on the loan is set and is not subject to fluctuations for the duration of the loan.
Subsidized – Need-based loans in which the government will pay off any interest that accrues while the student is enrolled in school at least half-time or more
Unsubsized – Non-need based loan. Interest begins accruing as soon as the loan is dispersed.
Grace period – 6 months period of time after a student graduates, leaves school or drops below halftime enrollment before the student is required to begin repayment on their loans.
Deferment /Forbearance – Allows student to temporarily stop making payments or to temporarily reduce their monthly payments for a specified period. The difference between the two is that in deferment a period student may not be responsible for paying interest that accrues.
Repayment plan options – Different repayment options can make the students monthly payment more affordable by giving the student more time to repay the loan or base the monthly loan payment on your income.

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Return on Investment

ROI = What you get after college (salary, job security) – What you pay during college (tuition, fees, loans)

Low Debt/ High ROI: A $5,000/year loan for a nursing degree and job $60,000 per year

High Debt/ Low ROI: A $20,000/year loan for a major with poor job prospects

Questions to Ask Before Borrowing: What’s the average salary for this major? How much will I owe after graduation? Will I need grad school to make it worthwhile?

“When we talk about ROI or Return on Investment for college, we’re looking at one simple idea: Is what you’re getting out of college worth what you’re putting in? ROI is what you get after college—like your salary, job stability, and career opportunities—minus what you paid to get there—your tuition, fees, and student loans. For example, if you take out $5,000 per year in student loans to become a nurse, and you land a job making $60,000 a year, that’s considered positive debt. The return—your salary—is much higher than the cost. That’s a good investment. On the flip side, if you borrow $20,000 per year for a degree with low job demand or low average salaries, you may struggle to pay back those loans. That’s a low ROI—or even negative—because the cost outweighs the benefit. So how do you make a smart decision? Ask yourself: What’s the average salary for someone with this major or career? How much will I owe after graduation? Will I need graduate school to reach my career goals or earn a good salary? These questions help you borrow strategically and avoid being stuck in debt for a degree that doesn’t pay off. Bottom line: College is an investment—just like buying a house or starting a business. Make sure it’s one that pays you back.

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Federal Direct Loan Amounts

Year	Dependent Students	Independent Students
1^st Year	$5,500 Max. $3,500 subsidized	$9,500 Max. $3,500 subsidized
2^nd Year	$6,500 Max. $4,500 subsidized	$10,500 Max. $4,500 subsidized
3^rd Year and Beyond	$7,500 Max. $5,500 subsidized	$12,500 Max. $5,500 subsidized
Graduate or Professional	Not Applicable	$20,500 (unsubsidized only)

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Illinois Gift Aid

MAP Grant�(Monetary Award Program)	Need-based Up to $8,064 (only for tuition and fees)
IVG (Illinois Veteran Grant)	Tuition & fees
ING�(Illinois National Guard Grant)	Tuition & fees
Grant for Dependents of Police, Fire, and Correctional Officers	Tuition & fees

ISAC administers financial aid programs for residents of Illinois. You can always go to www.isac.org to learn more information

The Monetary Award Program – is one of the largest state programs in the country. This aid is for eligible students demonstrating financial need and can only be applied to tuition and mandatory fees. It is important to note that the MAP grant is only eligible for undergraduate students at approved Illinois degree-granting institutions. Completion of the FAFSA is required to be considered for this grant. *Subject to appropriation of funds so they are awarded on a first-come, first-serve basis.
The IVG program – is an entitlement program awarded to eligible applicants regardless of the funding level. It pays eligible tuition and mandatory fees at Illinois public colleges or community colleges. Qualified veterans may receive benefits at the undergraduate or graduate level for the equivalent of four academic years of full-time enrollment.
The ING Program is also an entitlement program awarded to eligible recipients regardless of the funding level. It pays tuition and eligible fees at all Illinois public universities or public community colleges for undergraduate or graduate enrollment.
Grants for Dependent of Police, Fire and Correctional Officers - If a correctional officer employed by the Illinois Department of Corrections in a security position or an Illinois police or fire officer is killed or sustains injuries resulting in a permanent disability (at least 90%) in the line of duty, the officer’s spouse and children may receive grant assistance toward tuition and mandatory fees. It may be used for an equivalent of 8 semesters or 12 quarters of undergraduate or graduate enrollment.

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Gift Aid for Teaching

TEACH Grant (Federal)	Up to $3,772 Teaching requirement must be met or converts to loan
Illinois SETTW �(Special Education Teacher Tuition Waiver)	Tuition waiver at public universities Teaching requirement must be met or converts to loan
ECACE�(Early Childhood Access Consortium for Equity)	Covers cost of attendance after other financial aid received

If you are thinking about a teaching degree, there is also gift aid that you can potentially be eligible for. However, one thing to keep in mind is that there is a teaching requirement and if not fulfilled for a teaching program, the funds convert to a loan with a 5% interest rate.

The MTI Scholarship Program encourages academically talented minority students to pursue careers as teachers at nonprofit Illinois schools. It awards up to $7,500 per academic year for a maximum of 8 semesters or 12 quarters of assistance. Recipients must sign an agreement promising to start teaching within one year for each year of scholarship assistance received. Recipients must apply for the FAFSA and MTI every year by the established priority deadline in order to be considered for MTI. (March 31). See participating schools at https://www.isac.org/students/during-college/documents/2324MTISchools.pdf.

Illinois SETTW exempts recipients from the payment of tuition and mandatory fees for up to four calendar years at any one of the 12 public four-year colleges in Illinois. It encourages current teachers (not certified in a special education discipline) and academically talented students to pursue careers at nonprofit Illinois public, private or parochial preschool, elementary or secondary school teachers in any area of Special Education. Students only need to apply once to establish eligibility. The institution will work with ISAC in order to continue verifying eligibility for SETTW.

ECACE is a relatively new scholarship available to those currently working (or worked) in the early childhood field and interested in obtaining a degree or credential in early childhood education. ECACE can cover the remaining cost of attendance after other financial aid is applied. To qualify, an applicant must have worked in an eligible childcare program in a center or home.

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Other State Aid Available

Nursing Education Scholarship	Up to $9,023 for a certificate, associates degree, or hospital-based diploma Up to $18,204 for an associates at a private institution, a bachelors, or graduate degree A portion goes towards tuition and fees, plus – for full-time students only – a living allowance The scholarship pays for coursework within the nursing curriculum but does not pay for pre-requisite coursework Nursing requirement must be met or converts to loan
Displaced Energy Worker Dependent Transition Scholarship	Assistance to children of eligible displaced energy workers from fossil fuel power plant or coal mine in Illinois Pays tuition and fee costs at public universities or community colleges for a period equal to one calendar year to transition into undergraduate or graduate study Must have “unmet” need in your financial aid package Must also complete the FAFSA or Alternative App

“The Nursing Education Scholarship is a great opportunity for students pursuing a career in nursing. It provides up to $9,023 for a certificate, associate degree, or hospital-based diploma, and up to $18,204 for an associate degree at a private institution, a bachelor's, or even graduate-level nursing programs. A portion of the scholarship goes toward tuition and fees, and full-time students also receive a living allowance. However, keep in mind that the scholarship only covers courses within the nursing curriculum—it does not cover prerequisite coursework. Most importantly, there is a work requirement: if you don’t meet the nursing employment obligation after graduation, the scholarship turns into a loan, meaning you’ll have to repay it.

The Displaced Energy Worker Dependent Transition Scholarship is meant to help children of eligible displaced energy workers who have “unmet” financial need, which means they need to complete the FAFSA or Alternative Application. Applicants must upload proof of the displaced energy worker's loss of employment due to the reduced operation or closure of a fossil fuel power plant or coal mine that occurred on or after September 15, 2016. Depending on the college, students may be responsible for payment until program funds are received. They can receive funding for up to 14 credit hours but must have a minimum of 3 credit hours. Funding is dependent on state appropriations.

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The Big Grants for 2025-26

Illinois Monetary Award Program (MAP) Grant�up to �$8,064

Federal Pell Grant �up to �$7,395

Total �Grant Aid �up to�$15,459

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December-February Complete the verification process, if selected

January-April Receive and review financial aid offers from colleges

April-May Make a decision and respond to colleges

Complete pending processes

Repeat these steps every year you plan to attend!

October- November Complete an application

The �Financial Aid Process

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Step 1 (Oct-Nov): Complete an Application

FAFSA – the Free Application for Federal Student Aid

The first step for most students – usually available October 1^st
Used to apply for federal and Illinois financial aid
Free to file at www.fafsa.gov

Alternative App – the Alternative Application for Illinois Financial Aid

For qualifying undocumented students – available same day as the FAFSA
Used to apply for Illinois financial aid only
Free to file at www.isac.org/alternativeapp

Other forms - vary by college

Institutional forms
Other applications like the CSS Profile
Used to apply for institutional aid

*In Illinois, it is a graduation requirement to complete a financial aid application or an opt-out form

Not always free, but fee waivers may be available for qualifying students (e.g., CSS Profile)

The first step to apply for federal and state aid would be to complete Free Application for Federal Student Aid (FAFSA). This application can be completed online (preferred method). The FAFSA uses your and your family’s income, assets, and other information to estimate how much you should contribute to your college costs.

If you’re not eligible for the FAFSA but qualify for an alternative application, you can complete the form online. Similar to the FAFSA, the alternative app uses your family’s income, assets, and other details to determine your funding.

In some instances, colleges may use additional forms. The form used most often in this process (typically private colleges) is the CSS/Financial Aid PROFILE, which is administered by the College Scholarship Service (CSS), a division of the College Board organization. Be sure to communicate with each college to inquire about the steps you need to take to ensure that you submit a complete application.

One important thing to note is that other forms are not always free, but fee waivers may be available for qualifying students (e.g., CSS Profile)

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Gather the Info You Need

FAFSA & Alternative Application

Federal tax returns, W-2s, and other records of income
Banking statements and records of investments
Records of untaxed income
List of colleges student would like to attend

FAFSA Only

Student’s Social Security Number (SSN), if parent doesn’t have one, they can still apply
Alien Registration Number, if students is not a U.S. Citizen
StudentAid.gov account – students and parents must have their own

Note: neither application will ask about the parents’ immigration status

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StudentAid.gov Account

To submit a FAFSA, you will need to create a studentaid.gov account
Students and parents need their own account
It’s best to create a studentaid.gov account a few days before starting your FAFSA
Parents without a Social Security Number can also create one
Go to www.studentaid.gov/fsa-id to get started

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Parent Information

Most students must report parent information until the age of 24, even if the student doesn’t live with them
For financial aid purposes, only parents listed below should provide info on the application

Parents

Biological
Adoptive
Stepparent, if married to a biological or adoptive parent

Not Parents

Legal guardians
Foster parents
Grandparents, siblings, aunts/uncles
Friends or other relatives
Other people, even if they claim student on their taxes

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Which Parent Should Report Their Information?

Are the student’s biological/adoptive parents married to each other?

Yes 🡪 Both parents’ information
No 🡪 Go to next question�

If unmarried, do the biological/adoptive parents live together?

Yes 🡪 Both parents’ information
No 🡪 Go to the next question�

Did one parent provide most of the financial support for the student in the last 12 months?

Yes 🡪 That parent’s information (and their spouse’s, if remarried)
No 🡪 The parent with greater income & assets (and their spouse’s, if remarried)

Let’s figure out which parents’ information to include:

Who’s My Parent When I Fill Out My FAFSA^® Form?

Are your parents married to each other?

If yes, then report information for both parents on the FAFSA form.

Do your parents live together?

If yes, then report information for both parents on the FAFSA form, even if they were never married, are divorced, or are separated.

Which parent provided more financial support in the last 12 months? If both parents contribute equally, then report the parent with the greater income and assets. Also, if this parent remarried, you would need to report information for your stepparent on the FAFSA form.

*For parents who are divorced or separated, you should report the parent who provides the most financial support for the student on the FAFSA. As you fill out the application, there will be a built-in tool to help you identify which parent to include in these cases.

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Parents Can Also Apply!

No age limited on who can apply for financial aid
Parent would submit their own application
Many programs offer evening, weekend, and/or online options
ISAC can help!

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Signing Your Application

The FAFSA

Check box at the end after reviewing terms & conditions
Click on Sign button
Student and parent(s) sign their respective part of the FAFSA

The Alternative App

A personal identification number (PIN) will be used to sign electronically
Students and parents need their own
The PIN will be generated and sent via email by ISAC

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FAFSA Processing System (FPS)

A completed FAFSA goes through the FPS for processing
The FPS matches some FAFSA data elements with other federal agencies for accuracy and eligibility
Then, output documents are generated

FAFSA Submission Summary
Institutional Student Information Record (ISIR)

From the FAFSA to the FAFSA Submission Summary/ISIR:

The FPS calculates a Student Aid Index (SAI) and checks the application for possible inconsistencies and mistakes

When a FAFSA is submitted, it is processed through the FAFSA Processing System formerly called the CPS (central processing system). The FPS calculates the student’s SAI and checks the application for inconsistencies and mistakes. The CPS does data matching with other agencies to verify the responses provided for specific questions on the FAFSA. If the FPS identifies an inconsistency, the student’s application will be flagged by the system for verification. Student’s whose FAFSAs are flagged for verification by the FPS must be verified. Meaning, if the student applied and sent their FAFSA to multiple schools, they would be required to complete verification at every school since they were flagged by the FPS. Keep in mind though, that schools also have the authority to verify additional students so just because a student wasn’t flagged for verification by the FPS does not necessarily mean that they won’t be subject to verification.

The FPS generates two documents for every FAFSA submitted. A FAFSA Submission Summary, which is sent to the student, and an Institutional Student Information Record (ISIR), which is sent to every school listed on the student’s FAFSA. Both forms contain the students SAI and FAFSA information. The ISIR contains specific information intended for a Financial Aid Administrator to use when packaging.

Also, ED has announced that it will be significantly reducing verification requirements this year but will maintain measures focused on avoiding identity fraud.

Source: https://fsapartners.ed.gov/knowledge-center/fsa-handbook/2024-2025/application-and-verification-guide/ch1-application-process-fafsa-isir

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FAFSA Processing System (FPS) Data Matching

Social Security Administration (SSA)

Student’s citizenship status and identity (name, date of birth, & Social Security Number)
Contributor’s identity (name, date of birth, & Social Security Number)

Department of Homeland Security (DHS)

Confirm eligible noncitizen status of the student
Only if student provides A-Number on the FAFSA

National Student Loan Data System (NSLDS)

Financial aid history and eligibility
Checks for defaulted loans, overpayments, exceeded loan limits, unusual enrollment patterns

Department of Veterans Affairs (VA)

Veteran status
Only if student indicated they are a veteran on the FAFSA

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Student Aid Index

The application will calculate your Student Aid Index (SAI)

If you file a FAFSA, you will see it on your confirmation page
If you file an Alternative App, you will not see it; you can ask your college’s financial aid office

The SAI reflects what you can contribute towards your education in one academic year
It can be a negative number
The SAI is used to determine eligibility for federal and state financial aid
Many colleges use it for institutional aid eligibility

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Step 2 (Dec- Feb): Complete Verification (if selected)

A process used by schools to confirm your application data is accurate

Do not be alarmed! It’s a common process.

You may be asked to submit additional documentation

Provide only the information requested

Submit all documents on time

And keep copies of everything!

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Step 3 (Jan- Apr): Receive and Review Offers

The amount of aid depends on your financial need and Student Aid Index (SAI)
Colleges will consider all available aid to try to meet your financial need, but this is not always guaranteed
All available aid will be packaged into a financial aid offer

COA

SAI

OFA

Financial Need

Remaining need

Other financial aid

Your financial resources

Cost of college

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$14,000

$1,000

$10,00

Comparing Your Options

COA

OTHER FINANCIAL AID

REMAINING NEED

$25,00

$10,000

$12,000

$42,000

$3,000

SAI

$3,000

$39,000

$0

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Financial Aid Offers

A list of the types and amounts of financial aid a college is offering a student, including:

Tuition and fees
Grants, scholarships, and loans offered
Out-of-pocket cost
Other aid options available such as a Parent Plus Loan

When should students expect their financial aid offer?

February-May (4-year colleges)
Late spring-summer (2-year colleges)

Where can students find their financial aid offers?

Mail, Email, Student Portal of the institution

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Analyze Your Offers

Things to consider in your financial aid offers

Deadlines for accepting/declining offers
Types of aid included (grants, scholarships, loans, etc.)
Offers with grants & scholarships (versus loans) tend to be more desirable
Pay attention to student loan types and interest rates

Questions to Ask

Do you have to meet any conditions? (e.g., maintain a certain GPA)
Which ones are renewable? (i.e., can I get it more than one year?)
What will your out-of-pocket cost be? (remaining cost after all aid)

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Step 4 (Apr- May 1): Decide & Respond

Once you decide, respond to all colleges
Accept the offer from the college you will attend

This lets them know you plan to attend
Serves as confirmation you will receive the aid they offered

Decline offers from the colleges you will not attend

Let them know you will not attend
Frees up the financial aid to give to another student

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Step 5: Complete Pending Processes

Check your college email/student account to see pending tasks
Submit all required forms
Confirm you will attend (intent to enroll)
Accept your financial aid offer
Pay enrollment & housing deposits if applicable, or ask for waivers if needed

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Repeat the Process Every Year

Applying for financial aid is not a one-time process
You must file a FAFSA or Alternative App every year you attend college
Circumstances can change from year to year, it is important to reapply

E.g., loss of income, new family member, marriage, divorce, etc.
These things can affect your eligibility

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Tips & Reminders

Apply as soon as applications become available �(usually October 1^st)

The FAFSA & Alternative App are free to complete �do not pay anyone!

Keep track of deadlines! Missing one can delay your financial aid

It’s never too early to apply for scholarships!

Reapply every year you will be in college!

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Trusted Websites

Stay up-to-date and learn more using these free, trusted sources of information

studentportal.isac.org

studentaid.gov

fafsa.gov

isac.org/alternativeapp

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ISAC Student Portal

One-stop online hub for Illinois students to manage financial aid and college planning
Track progress and updates for state aid applications
Scholarship Search Tool: Find scholarships based on personalized criteria
College Planning Resources: Includes tools for career exploration, budgeting, and college comparisons
Accessible with a secure login, and completely free to use for Illinois students
Studentportal.isac.org

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First Generation Scholars Network

Click the JOIN NOW! button on the Student Portal. By joining, you’ll:

Connect with fellow first gen students and a corps member for one-on-one support
Access first gen programs and events on your campus
Become familiar with your campus departments and services
Receive summer support during your transition to college
Get answers to your financial aid and college-related questions

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ISAC College Q&A

Check out the free ISAC College Q&A text messaging service:

Get your questions about college planning and financial aid answered
Receive important information about college planning events and deadlines

You will be prompted for the name of your school and graduation year to verify that you are a student

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Contact Me!

Payton Major

(309) 756-8175

Payton.Major@illinois.gov