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FAFSA is a Graduation Requirement in Illinois
The 2026-2027 FAFSA opened on October 1
In Illinois, high school seniors are required to complete either the Free Application for Federal Student Aid (FAFSA) or the Alternative Application for Illinois Financial Aid as a graduation requirement. Students also have the option to submit a waiver, as described below. We strongly encourage all eligible students to file either the FAFSA or the Alternative Application for Illinois financial aid.
Seniors students must either:
File a FAFSA, or if applicable, an alternative application for state financial aid (for undocumented students), or
Waive FAFSA completion indicating that the parent/guardian or the student (if 18) understands the FAFSA and has chosen not to apply by completing the Financial Aid Non-Participation Form. Students must create an account in the ISAC Student Portal to access the waiver form. After using the above link to get to the portal, scroll all the way to the bottom of the page and click on "FAFSA Non-Participation Form", and then click on "Sign-Up" to create an account.
**Remember that you will be filling out the 2026-2027 FAFSA (not the 2025-2026).
Prepare for the FAFSA:
Create an FSA ID. What is an FSA ID?
An FSA ID is a username and password that is required to log in to certain U.S. Department of Education websites. Your FSA ID identifies you as someone who has the right to access your own personal information on ED websites such as the FAFSA. You and a parent/guardian to create your FSA IDs. This way, you will be ready to complete and submit the FAFSA.
Why do you recommend doing this as soon as possible?
Processing a new FSA ID can take 3-5 business days. By getting those IDs early, it means you will be ready to complete and submit the FAFSA once it's available and not have to wait for your FSA IDs to process.
Who needs an FSA ID?
All contributors (student and parent/guardian) must have their own FSA ID.
Determine your dependency status and whether your parent(s) will be required to contribute information on your FAFSA form.
If you’re a dependent student, use the Who’s My FAFSA Parent? wizard to identify which parent(s) will be a required contributor on your form.
How does someone get an FSA ID?
To create an FSA ID, make an account with studentaid.gov.
What if the student or contributor doesn’t remember their FSA ID or is not sure if they have one?
To retrieve a forgotten FSA ID or password, please go to the sign-in page and click either the "Forgot my Username" or "Forgot my Password" links.
More Info About the FAFSA:
More Info About the FAFSA:
Learn about the documents you may need to fill out the FAFSA.
College Guidance Network: A Family Guide to the FAFSA
Stay informed about 2026-2027 FAFSA and receive up-to-date notifications and information:
Follow Federal Student Aid on social media for resources and announcements.
Once you’ve completed your FAFSA form, there are more steps you have to take before you receive financial aid. Make sure you know what happens after you submit your FAFSA form.
If you have any questions about FAFSA, use these resources:
Call the FAFSA helpline: 1-800-4FED-AID (1-800-433-3243);
Reach out to our representative from the Illinois Student Assistance Commission (ISAC):
Carlos Morales - carlos.morales@illinois.gov - (847) 309-8820 or Book time to meet with me
Sue Biemeret (retired College Counselor from Stevenson High School) and Jerry Cebrzynski (Associate Vice President for Financial Aid at Lake Forest College) created the Financial Aid Guide.
Going Merry created this FAFSA FAQ.
FINANCIAL AID DEFINED
Financial Aid is money that the government and other organizations give you or lend you so you can pay for college. To qualify for Financial Aid, you must apply. Financial aid comes from the federal government (the largest source), state governments, colleges and universities, private organizations (such as companies, clubs and religious organizations), and banks and lending companies.
THERE ARE FOUR MAIN TYPES OF FINANCIAL AID:
Grants: Grants are called gift aid because they do not have to be paid back. Grants come from federal and state governments and from colleges. Most grants are need-based, which means they are usually given based on your or your family’s financial circumstances.
Scholarships: Scholarships are also gift aid. Scholarships come from colleges and private organizations. They may be awarded for academic or athletic ability, interest in a certain subject, or volunteer work, for example. Some scholarships are given based on membership in an ethnic or religious group. Companies may also give scholarships to children of employees. (See our separate link on the left regarding Scholarships.)
Loans: Borrowing money from a bank, government or lending company is called taking out a loan. A loan must be paid back with an extra charge called interest. The federal government offers low-interest loans to students with financial need. Other lenders charge more interest.
Work-Study Programs: The Federal Work-Study Program offers paid part-time on-campus jobs to help students pay for part of their college cost.
HOW AND WHEN TO APPLY FOR FINANCIAL AID
U.S. citizens or eligible noncitizens can complete the Free Application for Federal Student Aid (FAFSA) to be considered for financial aid from the federal government, state governments and many colleges. The Retention of Illinois Students & Equity (RISE) Act allows eligible undocumented students and transgender students who are disqualified from federal financial aid to apply for all forms of state financial aid. The Alternative Application for Illinois Financial Aid provides a pathway for these qualified students to apply for Monetary Award Program (MAP) grants, the state's largest need-based grant program for low-income college students. More information and application can be found here.
Some colleges may also require you to submit the CSS/Financial Aid PROFILE or their own private forms. Remember, meeting deadlines is your responsibility. You have to submit your applications on time to qualify for financial aid. October 1 of your senior year is the first day you can file the FAFSA. College, state and private financial aid deadlines vary. Aim to file the FAFSA as soon as possible; many colleges are recommending the FAFSA to be completed within a month to a month and a half after opening. Financial aid dollars are limited, and in many cases are awarded on a first-come, first-served basis. In previous years, the MAP Grant (awarded/funded by Illinois and is worth up to $8,064) ran out of funds a few months after the opening date of the FAFSA. This is why it is essential to apply as close to the opening date as you can.
Use the Student Federal Aid At A Glance info sheet to help you navigate the application process for federal student aid. You can also read about FAFSA programs: program description, type of aid and amount awarded annually.
This application is completely free and you may file your FAFSA with your previous year's tax information. There is nothing hurt by applying to see what is possible. In the worst case scenario your family would not qualify for any grants, but still could qualify for loans through the federal government. This works in your favor because the interest percentage for the loans you would get from the government is much lower than the rate from any other institution offering loans. Another reason to take out a loan is to start building good credit. Also, some colleges award merit scholarships and require the FAFSA to be filled out in order to be considered for scholarships. Remember, you must file a FAFSA every year in December to be considered for federal student aid the following year.
NET PRICE
Net price is the real price that a student pays to go to a college. It is the net cost (the published price of the college) minus the gift aid the student receives. The net price of a college is often much lower than its published price. Colleges offer a tool on their websites called a net price calculator. This online tool gives an estimate of the actual price you would pay to go to a certain college, based on information you enter about your finances. Your net price will be different for every college, so it’s a good idea to use each college’s net price calculator.
MyinTuition College Cost Calculator: https://myintuition.org/quick-college-cost-estimator/
MyinTuition, a revolutionary online tool, ensures that students and their families have quick and easy access to the information they need to make decisions about college affordability. MyinTuition shows the projected cost of college once financial aid is factored in, helping students understand and plan for what college will actually cost.
DON'T RULE OUT EXPENSIVE COLLEGES
A college with a higher price tag might offer you generous financial aid. It might even be more affordable than colleges that charge lower tuition. So think about net price, not net cost (published price), and don’t be afraid to apply to colleges you think you can’t afford. Once you hear from the colleges you’ve applied to, compare your financial aid offers (usually offered in March or April) to see which options are best. Use this Financial Aid Comparison Worksheet to compare your college costs to see which college is more affordable. This Financial Aid Letter Comparision tool is also a great resource. You have until May 1 to commit to a college.
Student Debt: Student Debt Smarter (SDS). SDS, made possible by the Peter G. Peterson Foundation, can help the students and families better understand their financial options for college. In using SDS, students see personalized financial information and resources to help them understand student loans. For example, SDS can show students how long it may take them to pay off their student loans based on their expected salary post-graduation and where they'll live. The tool offers much more, too. We encourage you and your students to check it out at studentdebtsmarter.org/NACAC
HELPFUL FINANCIAL AID WEBSITES
FAFSA
This is the Free Application for Federal Student Aid. If you are applying to a college/university for financial aid, you must complete this application. Even if you believe you will not qualify for Financial Aid, you should complete the forms because colleges have access to this information and could be able to award private scholarships based on your information from the FAFSA. The first official date to file for FAFSA, is October 1 of senior year. It is highly recommended to complete the FAFSA as soon as possible.
This is a free financial aid calculator that gives you an early estimate of your eligibility for federal student aid. This information helps families plan ahead for college. You must use the Free Application for Federal Student Aid(FAFSA) to apply for aid once you’ve decided to apply for admission and attend college.
CSS/Financial Aid Profile
Some colleges offer the CSS profile as a means for rewarding additional grants/scholarships from their own institution. The CSS profile asks more specific questions than what is on the FAFSA as a means of understanding your family financial circumstances better. The CSS Profile can be found on the College Board website. View this step by step guide to completing the CSS profile.
Please read the acknowledgement emails you receive from the CSS Profile and FAFSA processors after filing these forms. These emails may include additional steps that must be taken to complete their financial aid applications. Here is a CSS Profile Guide from Appily.
FinAid
This provides information on federal and private loans and scholarship programs sponsored by the National Association of Student Financial Aid Administrators.
US Department of Education Resources:
US Department of Education Resources:
Illinois Student Assistance Commission (ISAC)
ISAC has primary responsibility for student financial aid for Illinois students and their families. You can reach out to our representative from ISAC to answer any questions about financial aid and/or the FAFSA:
Carlos Morales (He/Him)
ISAC Corps Community Outreach Worker
Illinois Student Assistance Commission
Region 2 - College of Lake County District
carlos.morales@illinois.gov
Cell: (847)-309-8820
ISAC College Q&A:
ISAC College Q&A:
The Illinois Student Assistance Commission now offers ISAC College Q&A - get your questions about college planning and financial aid answered via text message, and receive important information about college planning events and deadlines. To use the service simply text your first and last name to the phone number below. (847) 243-6470 Servicio en español: (773) 823-0570
ADDITIONAL RESOURCES
Families should have an initial conversation around paying for their college—the limitations and the expectations—before students apply anywhere.
• Have you discussed as a family your overall finances and how to pay for college?
• What’s your debt tolerance? How much do you want to borrow for school, knowing that the average student graduates with some $30,000 in loan debt in addition to debt parents have taken on?
• If taking on student loans, will parents help out in repaying? Have you calculated what payments will look like?
• Have you tried the net-price calculator on your initial college list and does it change your perspective on any of the schools?
Webinar: 2025 FAFSA, CSS & Scholarships Tips | Get the Most College Financial & Merit Aid
Webinar: College Admissions and Financial Aid How will colleges evaluate students for admissions and give out financial aid during the pandemic? Join a panel of experts to hear how campuses plan to move forward, and how families can conduct a college search during this time.
Top 12 Tips to Manage the Cost of College (See below)
Top-12-Tips-to-Manage-the-Cost-of-College.pdfAffordability
Affordability
Key Guidance
Families need to talk about finances and affordability long before the admissions decisions and financial aid offers arrive in the spring of senior year.
Despite the high “sticker-price” of college, students should know that institutional aid can significantly reduce costs.
Colleges have different price points. Price is mainly driven by type of program (2 or 4 year), type of institution (public or private) and location.
There are many ways to finance college. Most families cover the cost of college with a combination of institutional aid, family savings, work- study, and loan(s).
Tips for Comparing Financial Aid Offers
Tips for Comparing Financial Aid Offers
First, make sure you understand direct cost (or billed cost), indirect cost (anticipated expenses), and total cost (those two added together) at each college to ensure you’re comparing apples to apples.
Compare the cost of each school subtracting only gift aid (scholarships and grants) from the total cost, then subtracting loans, and then subtracting work study and any additional options. You may find that different schools are the most affordable at different stages of this exercise. The final cost is critical in determining whether or not you’ll be able to pay your bill, but the cost before loans and work study is critical in assessing the best value offer. Loans and work study are great options to help you pay your bill, but they still represent money that you ultimately have to pay.
When assessing value, it’s important to think of college cost as an investment; just like buying a car or house, the cheapest option isn’t always the best investment. Consider which college is the best academic and social fit for you. Consider which college offers the most additional value included in tuition. (For example, is study abroad included in tuition? Are there paid summer internships available?) Finally, consider which college will set you up best for post-graduate success — compare graduation rates, employment and graduate school enrollment rates, student loan default rates, job-placement programs, and access to alumni networks.
And some important questions to ask financial aid offices:
Which parts of my financial aid offer are locked in for four years and which parts are reevaluated annually?
How is the college planning for the changes to the FAFSA taking effect next year? If I’m receiving additional financial aid this year because I have a sibling in college, for example, will I still receive that next year even though it will no longer be on the FAFSA?
How much of a tuition increase should I budget for annually?
What happens if my financial circumstances change significantly for the worse? Will you reevaluate my financial aid?
Is there a cap on the amount of work study money I can earn?
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