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The number of grants made through programs administered by ISAC, as well as the individual dollar amount awarded, are subject to sufficient annual appropriations by the Illinois General Assembly and the Governor.
A grant is a type of “gift aid” that does not need to be paid back. The amount awarded is usually based on financial need and is generally provided by the government or the college a student plans to attend. After an undergraduate student submits a FAFSA, he or she is automatically considered for three types of grants—the State of Illinois Monetary Award Program (MAP) grant (for Illinois residents), the Federal Pell Grant (Pell), and the Federal Supplemental Educational Opportunity Grant (SEOG).
In addition to these three grants, others offered by the State of Illinois include:
Other grants are available as well, and many are designated for Illinois students. The list below offers some places to start. But remember to watch out for financial aid scams.
Every grant program - including those funded by the federal or state government, colleges, or other organizations - has its own unique awarding and processing cycle. If a student plans to use funds from a grant to pay a balance owed the college, but those funds are not received by the scheduled due date(s), it is the student's responsibility to work with the appropriate office at the college to make satisfactory arrangements.
While some colleges may agree to temporarily postpone due dates (sometimes for a fee) until funds are received, others might require that the student make a full or partial payment by the established due date. If, once received, the grant funds are more than the remaining balance due to the college, the student may receive the excess funds to reimburse out-of-pocket expenses or to apply toward other education-related costs. Students who are uncertain of the college's policy regarding anticipated financial assistance should contact their Financial Aid Office for clarification.
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