Financial Aid Overview

Agenda

• Financial Aid Overview
• Tuition and other costs.
• Types of Aid.
• FAFSA
• Steps to apply.
• What is the result?
• H
• Scholarships & Student Employment

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• Other Ways to Pay/Payment Options

Financial Aid Overview

Residency: District Boundary

www.elgin.edu/residency

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Financial Aid Overview

• Cost of attendance
• Tuition
• Fees
• Books and Supplies
• Other Components
• Transportation
• Personal Expenses
• Housing and Food

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Financial Aid Overview

• Federal and State Grants (No repayment typically required)
• Federal Pell Grant
• FSEOG
• Illinois MAP grant

*Eligibility assessed through the FAFSA or State Alternative application

• Scholarships (No repayment typically required)
• Scholarships available via the college
• Private Scholarships

*Eligibility is determined via the donor or a committee

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Financial Aid Overview

• Loans (Repayment Required)
• Federal Direct loans
• Federal Direct Parent Plus loan
• Private loan

*Federal loan eligibility is determined through the FAFSA process with additional documentation required.

• Federal Work Study (No repayment required)

*Eligibility is assessed through the FAFSA

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Free Application for Federal Student Aid

FAFSA-Before You Start

• 2025-26 FAFSA application is available December 1^st 2024.
• When this information is used by the school varies by institution
• ECC uses the 2025-26 to award beginning in the Summer 2025 term
• Needed personal information
• Social Security Number/Alien Registration number*
• Drivers license
• Federal tax information for tax year 2023
• Record of untaxed income (child support, veterans noneducation benefits, etc.)
• Asset information (cash, savings, checking balance, investments)
• Applicants will be required to use the Direct Data Exchange where possible.
• The Department of Education is prioritizing its use to transfer tax information to the FAFSA to ensure accuracy

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FAFSA-Before You Start

• Determine your Dependency status.
• Knowing your dependency status will help determine who your FAFSA contributors will be.
• All contributors must agree to Direct Data Exchange with the IRS
• FAFSA asks several Dependency Status Questions
• Age
• Marital Status
• Dependents you provide more than half the financial support for.
• Veteran status
• Orphan or Ward of the court
• Emancipated Minor
• Unaccompanied youth

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FAFSA-Steps to Complete�

• Go to studentaid.gov
• Create an account.

*Note all contributors must create an account

• Select the “FAFSA Form” tab and “Complete the FAFSA Form”.
• After the student’s portion is completed they will be prompted (if necessary) to add a contributor.

*Contributors are Parent(s)/Step Parent/Spouse

• Add all colleges you wish to send the results of your FAFSA

*Note ECC school code 001675

• Schools should receive results within 3-5 business days after processing. (Assuming schools are receiving applications)

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FAFSA: Next Steps

• When a school receives the FAFSA result it will be determined what the next steps are.
• The school needs to have your accurate information including social security number to pull your application.
• You will be notified if you are selected for verification and the school may request additional information to confirm your FAFSA application’s accuracy.
• ECC requires the completion of our Institutional Aid Application which is available on the student’s self service financial aid page.
• Once your FAFSA is received (and verified if needed) your school will award your financial aid eligibility and you will receive an “offer letter”.
• Your “offer letter” will indicate what aid you qualify for during the year. (Pell grant, State Grants, etc.)

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FAFSA Alternative

• RISE Act
• Alternative Application for Illinois Financial Aid
• This application is intended for qualifying undocumented students.
• Assesses a student’s eligibility for the Illinois MAP grant through many of the same questions asked on the FAFSA
• Note that the MAP funding is subject to a suspense date. The earlier you apply the better.
• Application can be accessed: ISAC.org
• Also available December 1^st 2024.

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Scholarships

ECC Scholarships

Board of Trustees Scholarships

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• Academic: Top 10% or Top 20% of high school graduating class
• Athletic
• Creative Writing
• Forensics (speech team)

ECC Scholarships

Requirements for Board of Trustees Scholarships

• Complete all application requirements
• Must be in-district resident
• Must meet additional criteria of the specific scholarship
• Scholarships are available for up to four consecutive semesters (excluding summer)

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ECC Scholarships

ECC Foundation Scholarships

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• General Student Scholarships
• Academic
• Career/Education Focused
• Special Populations
• Community Service

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ECC Scholarships

ECC Foundation Scholarship Requirements

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• Complete application and provide one letter of support
• Minimum 2.0 GPA; some scholarships have additional requirements
• Some scholarships require completion of FAFSA
• Awarded for one year; reapply annually

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Scholarships Suggestions

• When writing your essay pay close attention to the question asked, word count, spelling and grammar.
• Private Scholarships are available
• Think about outside organizations you may be part of
• Unions
• Rotary clubs
• Religious institutions
• Be aware of scams scholarship applications typically do not have a fee to apply
• Review the school’s website frequently for when applications open and deadlines.
• ECC’s applications are available January 1^st.

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ECC Student Employment

How to get a Student Job on Campus

• Students must be enrolled in at least 6 credit hours and have a 2.0 GPA
• Student jobs are posted on the ECC Jobs webpage
• Apply for all student jobs you are qualified for or interested in
• Most jobs require students to complete the FAFSA

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Payment Options via Student Accounts

Payment Plans

www.elgin.edu/paymentplan

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Other 529 Plans & Trusts

If you have a 529 plan or a trust, follow these steps:

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1. In order to request a check from your 529 plan or trust, you will need your student statement found on the student portal. This will give you the exact dollar amount and a breakdown of tuition and fees.
2. Make sure your provider has this information so we can credit your account:
• Student Name
• Student ID Number
• Semester
3. Checks should be made payable to Elgin Community College.

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Elgin Community College

Attention Student Accounts

1700 Spartan Drive

Elgin IL 60123

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ECC must receive your check by the published due date.

Questions

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