FINANCIAL AID APPLICATIONS: NEW GRADUATION REQUIREMENT

Under Public Act 101-0180, starting in school year 2020-21, to receive a diploma from a public high school a student must complete a financial aid application.

One of the following is required of students who will graduate, exit or age out in SY21:

• Complete a Free Application for Federal Student Aid at FAFSA.gov; OR

• Complete an Alternative Application for IL Financial Aid at https://studentportal.isac.org/en/alternativeapp; OR

• Complete the ISBE Non-Participation Form: English | Spanish

For more information, please contact your Counselor or Postsecondary College & Career Coach or e-mail LearnPlanSucceed@cps.edu.

HOW FINANCIAL AID WORKS

For most students planning to attend college or career school, financial aid is essential. We’ll walk you through how financial aid works, resources to pay for college, and loan repayment options. Select the links under each topic to find out more

Start Planning Early

Plan how to pay for college before you start. Ask school counselors and the college financial aid office about state, college, and nonprofit grants and scholarships you can apply for. Be sure to meet application deadlines. Start saving before you get to college. Consider prepaid tuition and education savings (529) plans.

1. Preparing for College

2. Understanding Grants

3. Understanding Scholarships

Fill Out the FAFSA^® Form

Before each year of college, apply for federal grants, work-study, and loans with the Free Application for Federal Student Aid (FAFSA^®) form. Your college uses your FAFSA data to determine your federal aid eligibility. Many states and colleges use FAFSA data to award their own aid. After submission, you’ll receive your Student Aid Report.

1. Filling Out the FAFSA^® Form

2. Understanding Work-Study Jobs

3. Understanding Loans

4. Reviewing Your Student Aid Report

Review Your Aid Offer

Your aid offer explains the types and amounts of aid a college is offering you, and your expected costs for the year. If you’ve been accepted to multiple colleges, compare the costs and aid offers. Accept the aid from the school that's best for you and inform them of other sources of aid (such as scholarships) you expect to receive.

1. Comparing School Aid Offers

2. Accepting Financial Aid

3. Understanding College Costs

Get Your Aid

Time to go to school! Your financial aid office will apply your aid to the amount you owe your school and send you the remaining balance to spend on other college costs. One of the requirements to maintain financial aid eligibility is that you must make satisfactory academic progress. And don’t forget to complete a FAFSA^® form each year!

1. Receiving Financial Aid

2. Staying Eligible

3. Renewing Your FAFSA Form

Graduate and Start Repayment

As you prepare to graduate, get ready to repay your student loans. Good news! Federal student loan borrowers have a six-month grace period before you begin making payments. Use this time to get organized and choose a repayment plan. If you start falling behind on your payments, contact your loan servicer to discuss repayment options.

1. Managing Your Loans

2. Exploring Repayment Plans

3. Seeking Temporary Relief

4. Getting Back on Track

ALTERNATIVE APPLICATION FOR ILLINOIS FINANCIAL AID

The Alternative Application for Illinois Financial Aid allows qualifying undocumented students and transgender students who are not otherwise eligible for federal financial aid to apply for Illinois Monetary Award Program (MAP) grants to attend eligible Illinois colleges, universities, and career education programs. To accommodate RISE Act-eligible students (both undocumented and transgender students), an online application for MAP grants is available. Instead of completing the FAFSA to begin the MAP application process, these students may be eligible to complete the Alternative Application for Illinois Financial Aid. The application, patterned after the FAFSA, is accessible for the 2020-21 and 2021-22 academic years through the link/image below.

TYPES OF SCHOLARSHIPS

Some scholarships are earned by meeting or exceeding certain standards set by scholarship providers. Some scholarships reward a student’s academic achievement or a combination of academics and special talents, traits, or interests. Other scholarships are based on a student’s financial need.

• Financial need

• Merit

• Talent (visual and performing arts, athletics)

• Volunteerism and service

• Religious affiliation

• Organizational affiliations

• Other qualifications

To be considered for most scholarships, students will have to submit applications that require basic information including, transcripts, activities resume and in most instances complete an essay.

TIPS FOR QUALIFYING FOR SCHOLARSHIPS

Eligibility varies by scholarship, but students can improve their overall chances of winning a scholarship by:

• Getting good grades

• Preparing and practice to do well on the ACT or SAT tests

• Being involved in school clubs and extracurricular organizations (outside of school)

• Submitting thorough college applications

• Submitting applications prior to deadlines and meeting eligibility criteria

• Following directions carefully

• Writing exceptional essays to respond to questions within scholarship applications

For more information about CPS scholarship resources, email CPS Scholarship Manager at CollegeScholarships@cps.edu.

Chicago Public Schools Scholarship Email Blast - Opt In Form (SY 2020-21)

Complete this form in its entirety to begin receiving scholarship, scholarship-related and postsecondary access program emails from the CPS Scholarship Manager email account CollegeScholarships@cps.edu for the 2020-21 school year. CPS Scholarship Email Blast Sign-Up