Paying for College

Paying for college can be as stressful as applying. The following details will provide you with initial steps on how to better understand the financial aid process.

** Class of 2021 & On: The State of Illinois has passed Public Act 101-0180, which requires students to complete a financial aid requirement in order to graduation from an Illinois Public High School. More information will be shared by your College & Career Office during the fall of Senior year. **

Free Application for Federal Student Aid (FAFSA)

In December 2023, high school seniors & their families will be allowed to file the FAFSA using Prior-Prior Year (PPY) tax data (i.e. a senior planning to enroll in college in Fall 2024 would use 2022 tax information on their FAFSA). Financial Aid presentations & information will be shared in the fall of your Senior year. If families have additional questions, you can reach out to our Illinois Student Assistance Commission (ISAC) Representative, Angelo Brown. You can also text ISAC with your FAFSA questions: (630) 216-4910.

Types of Financial Aid

• Grants are typically based on financial need and do not need to be repaid.

• Scholarships may be awarded based on academics, special achievements, or involvement in school or community activities. Financial need is sometimes a factor. Scholarships are known as gift aid and do not need to be repaid.

• Loans are a significant part of most aid packages. The loan must be repaid, though most often not until after graduation. Interest rates are usually lower than other types of loans. The repayment period varies from two to three years, up to thirty years.

• Work Study refers to part-time employment on campus. Funding is provided through the Federal Work Study Program or institutional funds.

College Board’s College Scholarship Service (CSS PROFILE)

Since there is a cost for this service, students should check directly with their prospective college(s) to be sure the CSS PROFILE is required. Used by selective, private institutions, the CSS PROFILE utilizes institutional methodology which differs somewhat from the calculation performed by the federal government. The CSS PROFILE collects more specific data than the FAFSA and sends it to colleges. Families can complete the CSS Profile early in the student’s senior year.

College Specific Financial Aid Forms

Some schools ask students to complete an individual financial aid document from their own financial aid office. Such forms are typically mailed to accepted students or may be included in the application packet.

NOTE: Make sure you work with your college’s Financial Aid/Scholarship Office to pursue an optimum financial aid package.