Financial Aid (FAFSA)
CLASS OF 2024:
New FAFSA has opened!
Students who plan to continue their education and need financial aid to help pay the costs should
file the FAFSA as soon as possible.
Be patient and if you receive error messages, please keep trying back. The US Department of Education is still working out the bugs.
Parents and students can refer to these websites for more information:
https://www.isac.org/students/
This is a mandatory process in order to graduate!!
Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation. It provides federal grants, loans, and work-study funds each year to students paying for college or career school. The FAFSA must be completed as soon as possible after it opens. See the "FAFSA Non-Participation" section on this webpage if you do not plan on filing the FAFSA.
What information do I need to complete my 2024-25 FAFSA?
* Social Security Number
* Your Alien Registration Number, if you(student) are not a U.S Citizen
* Your parents' and your 2022 federal tax returns, W-2's, and other records of money earned.
* Banking statements and records of investments(if applicable)
* Records of untaxed income(if applicable)
* An FSA ID to sign electronically. (This can be created beforehand at
https://studentaid.gov/fsa-id/create-account/launch, or at the time of application) Please be aware that it may take 1-3 days to verify your information.
* List of colleges you would like to attend.
The parent and student will both need to create an FSA ID prior to FAFSA completion.
Financial Aid Timeline
Helpful Videos:
YouTube Videos on a Variety of FAFSA topics
https://www.youtube.com/user/FederalStudentAid
Frank Palmisani-Conquering college costs
Handouts for the video
Need FAFSA help? Meet our ISAC rep on Shepard's campus!
More FAFSA Help
ISAC College Q&A statewide text messaging service
The ISAC College Q&A service allows students to text any questions they may have about the financial aid process, their FAFSA, and the college planning process in general. Replies are not automated, rather each question is answered on an individual basis by ISAC staff members. In addition to replying to individual messages, we can also push out mass messages (statewide or based on region or grade level or other criteria) to alert students to important deadlines, upcoming events, or other critical information.
A student or parent can sign up by simply texting their first and last name to the phone number with the area code closest to where they live.
(773) 453-9520
(708) 252-3890
(630) 216-4910
(847) 243-6470
(815) 242-4630
(217) 207-3265
(309) 306-7066
(618) 223-6450
Also, when meeting at school isn’t feasible, our ISACorps members are always available to work with students via email or phone. ISACorps members can be located using the search by zip code tool on the ISAC Student Portal: studentportal.isac.org/isacorps. And of course, our website isac.org provides extensive information on ISAC program and services, including our need-based and other gift assistance financial aid programs.
US Department of Education College Affordability and Transparency Center
Links to General Financial Aid and Scholarship Websites
General/Financial Aid/Scholarships
Ways to Cut College Costs
Guide to Scholarships and Financial Aid
10 Strategies Middle-Income Families Often Forget That Can Save Them Thousands
Take Advantage of the American Opportunity Tax Credit
Over a million families forget to take advantage of this tax credit. Though a partial credit is available for families making less than $180,000 per year, a full $2,500 tax credit is available to families earning up to $160,000 per year. This credit alone will save you up to $10,000 per child over a four-year period.
Rent Textbooks Instead of Buying Them
Rent textbooks through Amazon, instead of purchasing. This can save you as much as $750 per year. That’s another $3,000 savings over a four-year period.
Research How Your Top Choice in College Treat Private Scholarships
In some cases, private or outside scholarships may reduce the amount of other financial aid a student qualifies for. Some colleges use these scholarships to replace a portion of the institutional financial aid they would have otherwise awarded to the student. When this is the case, earning private or outside scholarships is practically pointless. However, some schools use these scholarships to reduce student loans or unmet need. At schools where this is the case, private or outside scholarships are absolutely worthwhile.
Here’s the question to ask the admissions or financial aid office: Can I use private or outside scholarships to fill unmet need?
Make Sure That Both Scholarships and Grants Offered by Your College Are Renewed Every Year
Some colleges front load the grants they provide you. This means you have more in your first year than you will in following years. Make sure they renew automatically (assuming that your income and assets reported on your FAFSA are about the same) into your second, third, and fourth year of college.
Always Ask for More Financial Aid
Though there are many circumstances changes (like a pandemic!) that allow families to receive additional financial aid by using the appeals process, you can ask for additional financial aid no matter what. You have more leverage, of course, if your student is in the top 20% of their entering freshman class. In our experience asking for a modest amount of $3,000 per year is the best strategy. Chalk up another $12,000 in savings over a four-year period! More details available in this helpful article: How to Negotiate Your Financial Aid Package
Look for Colleges That Offer Three-Year Degrees or Guarantee a Four-Year Degree
Be sure to explore colleges that offer three-year degree options or colleges that will guarantee that your student will graduate in four years. The average student will take over five years to get their four-year degree. Graduating on time can save the average middle-income household an additional $25,000.
Apply to Colleges That Are Part of a Regional Students Exchange Program to Get a Large Discount on Tuition
These programs do appear to save you more money than they will actually will. That’s because if you qualify for a tuition discount of $10,000 per year, the college may also reduce your scholarship offer. However, participating in one of these programs can still save you at least $2,500 per year. If that’s the case, chalk-up another $10,000 in total savings over a four-year period.
Explore Out-of-State Colleges That Need More Students—Especially Students from the State in Which You Reside
Only applying to colleges in your state can be a big mistake if you are trying to maximize your financial aid eligibility. Apply to college where very few students from your state are applying and you are likely to get more money. You will be filling their geographical diversity needs. Again, the more leverage you have, the better.
If Your Circumstances Are Right, You Can Leverage the Benefits of the Parent Plus Loan Program to Save More Money Than with All of the Above
Though it may seem counterintuitive that you can borrow money to save money (especially when the interest rate is higher than you would receive in the private loan market) this may indeed be the case. If you take the time to learn the loan forgiveness benefits available to you under this federal loan program, there is money to be saved long-term. Depending on your situation, you can save thousands of dollars by implementing this strategy.
If you want to explore the possibilities, be sure to contact our office for the smartest borrowing strategies based on your unique circumstances.
Other ways to cut costs in college
Take AP classes and get a 3,4,5 on the test
Take Dual Credit Classes
Take Dual Enrollment classes at Moraine and start early
Study for the ACT/SAT to get a higher score
Find out-of-state schools with in-state tuition programs or the ability to claim residency
Apply, apply, apply to all scholarship opportunities at the high school level(make sure to have community service(at least 30 hours) and activity participation)
Begin with an Associate Degree and transfer to four year school
Take summer classes at the community college before you go and when you are home from college
Apply for scholarships during all four years of college!
Apply to businesses that help you pay for college:
Amazon
Best Buy
Starbucks
Home Depot
Chick-Fil-A
Chipotle
KFC
McDonald's
Papa John's
Pizza Hut
Taco Bell
T-Mobile
Target
Walmart
Chicago Regional College Program!! (UPS)
Contact: Servelure McMath Bostick
708-387-4622
Partnership with local college and work for UPS! Get paid to go to college
RaiseMe!
Find a clearer path to college earlier
Earn micro-scholarships from colleges for your achievements as early as 9th grade
Give Something Back!
Since 2003, Give Something Back (GSB) has been awarding scholarships to students in Illinois. Some basic points to remember about our scholarship:
- The program is available to all 9th-grade students in Illinois. We select our scholarship recipients early—in the ninth grade—in order to prepare them for college.
- Preference will be given to students who have an incarcerated parent, foster children or students who have been deemed homeless.
- Give Back scholars are low-income (full Pell Grant eligible.)
- Our scholars are required to maintain 3.0 weighted GPA in high school, take a college preparatory course load, and demonstrate strong character throughout the program.
- GSB has established and fully funded partnerships with several excellent colleges in Illinois (Lewis University, Blackburn College, University of Illinois Urbana Champaign, and Illinois State University.)
- Students who successfully complete our program and continue to meet the financial requirements (full Pell Grant Eligible) will be able to attend college and our scholarship will fund tuition, room, and board.
- If a student is no longer a freshman and has an incarcerated parent, been deemed homeless, or has been in DCFS care while meeting the academic/financial requirements of the program, they are welcome to submit an application.
- To learn more about the program and the application process please visit https://www.giveback.ngo/scholars-illinois/ to register for one of our Information Sessions for students/families interested in our program.
If you would like free, printed copies of our program brochure (or if you have additional questions or concerns, please feel free to email [email protected] or call my direct line at 815-834-8401.
Estimate How Much Financial Aid You Are Likely to Be Eligible For
FAFSA4caster will help you understand your options for paying for college.
MAP Estimator - The MAP (Monetary Assistance Program); grants to students from the State of Illinois
Financial Aid Comparison Worksheet - Easily compare financial aid offers from colleges
FAFSA Non-Participation Form (Waiver)