Financial Aid/Admissions Awareness Month

SPRINGFIELD – Governor George H. Ryan has proclaimed February to be "Financial Aid/Admission Awareness Month," as thousands of students look ahead to enrolling in college this fall. The Illinois Student Assistance Commission (ISAC), the State’s centralized agency for providing financial assistance to college students and families, is highlighting the month of February to promote financial aid and college admission education.

"Students and families need all the help they can get in finding ways to pay for college. February represents a wonderful opportunity for all students, whether they are still in high school or are adults considering going back to school, to learn about enrolling in college," stated Governor Ryan.

This year marks the thirteenth year that February has been proclaimed "Financial Aid/Admission Awareness Month." February has been chosen since students should now begin the financial aid process by applying for scholarships and grants, like the federal Pell grant and Illinois Monetary Award Program (MAP) grant. College financial aid offices will soon be estimating financial aid eligibility for students enrolling for the 2002-03 academic year. The earlier families apply for financial aid, the sooner they will be notified how much their student may receive, which may be critical to deciding which college their student will attend.

"While ISAC works hard year-round to educate families about how to afford a college education, February is an ideal time to put extra emphasis on college awareness because students need to apply now for financial assistance. They cannot afford to wait and then be turned down because funds have already been committed to other students," explained Larry Matejka, ISAC’s Executive Director.

ISAC administers nearly all the state and federal grant, scholarship, loan, and prepaid tuition programs offered to Illinois residents and annually awards an estimated $1 billion to over 250,000 qualified students and families. Since its inception in 1957, the agency has evolved into a one-stop financial aid center, saving time and resources for people who take advantage of its services.

During the month of February, high schools, colleges, and ISAC will be promoting awareness of financial aid opportunities by providing informational programs at various sites throughout the state. These activities are a collaborative effort between ISAC, the Illinois Association for College Admission Counseling, the Illinois Association of Student Financial Aid Administrators, various lending institutions, high schools, and colleges.

There will be 57 free workshops, which are open to the public, held at numerous sites, beginning February 2. Financial aid professionals will be available to assist families and students, including adults considering college, with completing the Free Application for Federal Student Aid (FAFSA), the most-used application designed for the federal Pell grant, Illinois MAP grant, educational loans, and several other scholarships and grants. Many of these sites will provide computer access for electronically filing the FAFSA.

Families attending a FAFSA workshop should bring all completed or estimated 2001 income tax forms, as well as any other asset information for the student and parents, in order to complete the 2002-2003 FAFSA. Families may also wish to complete as much as the FAFSA as possible, either online at www.fafsa.ed.gov or via a paper application. Paper applications are available from high school counselors, college financial aid offices, and libraries.

In addition to help with financial aid applications, attendees will also receive updated information on financial aid and college admission, including general information about federal tax credits and benefits for higher education.

Families can find detailed information regarding Financial Aid/Admission Awareness Month events and FAFSA workshops, as well as information on topics related to college planning, at the Web site www.faam.org or by calling ISAC at 800-899-ISAC (4722).

About ISAC
The Illinois Student Assistance Commission is the State’s centralized provider of financial assistance aimed at helping students and families access postsecondary education and/or training. Each year, the Commission awards an estimated $400 million in scholarship and grant aid to nearly 185,000 qualified students, and also provides an additional $740 million to borrowers through its student loan programs. The agency offers credit-based alternative loans, a 529 prepaid tuition program known as College Illinois!, and a broad array of outreach and informational services to ensure that families have access to the information they need to pay for a college education. More information is available by calling toll-free 800.899.ISAC (4722) or visiting the agency’s Web site at www.collegezone.com.