Financial aid packages still available
Kate Stickelmaier, Daily Vidette Senior Staff
Issue date: 4/28/08 Section: News
As many colleges, including ISU, have begun mailing their financial-aid award letters this month, students can still consider their options to obtain more monetary assistance for the upcoming school year.
Although a House committee approved increasing the four-year undergraduate loan limit from $23,000 to $31,000, help is unlikely to come quick enough to impact those with decisions to make for next semester, according to a recent MSNBC report.
According to Steven M. Bragg, vice president for finance and planning on campus, families and students planning for a future in higher education can expect tuition costs to rise faster than the inflation rate and ISU is no exception.
"This concerns us greatly," Bragg said. "We work very hard to keep an Illinois State education affordable. For Illinois State to continue to provide the best faculty services…we've had to dedicate almost all of our tuition increase to faculty salaries."
That being said, students can continue to turn to resources on campus such as the Financial Aid Office in time to see some results if they act fast.
"At ISU, we ask that students fill out their FAFSA by March 1," Jana Albrecht, director of the Financial Aid Office said. "Now students can file it on a weekly basis."
While the deadline for many of the smaller grants has passed, the federal deadline for the Pell Grant will fall on July 1, 2009. However, students need not hesitate if they plan to apply.
"We actually have to have a completed application by the last day of their attendance," Albrecht said.
The rolling deadline for the Illinois Student Assistance Commission MAP Grant is August 15, 2008. According to Bragg, $1.1 million has been earmarked each year for the last four years to fund the grant.
"[That's] $4.5 million to supplement financial aid that is already there for students who are eligible," Bragg said. "We take it very seriously."
Students are also encouraged to search for scholarship opportunities as deadlines and rules vary between individual institutions. The Scholarship Resource Office's Web site offers tips for seeking out such aid as well as lists of ISU scholarships available through different departments free of charge.
"The hard part for students is finding the time to sit down and do the search and actually go through the process," Albrecht said.
"Even if it's a $500 scholarship…if you get three of those, it can help. It will pay off if you work at it. We have students whose entire cost is made up of free money."
Students taking summer classes can still apply for assistance if they are taking six or more credit hours and Albrecht recommends they do so through ISU before going to an outside lender.
"[It's] best to go through us first," she said, "We always want people to get free money before getting a loan."
Although a House committee approved increasing the four-year undergraduate loan limit from $23,000 to $31,000, help is unlikely to come quick enough to impact those with decisions to make for next semester, according to a recent MSNBC report.
According to Steven M. Bragg, vice president for finance and planning on campus, families and students planning for a future in higher education can expect tuition costs to rise faster than the inflation rate and ISU is no exception.
"This concerns us greatly," Bragg said. "We work very hard to keep an Illinois State education affordable. For Illinois State to continue to provide the best faculty services…we've had to dedicate almost all of our tuition increase to faculty salaries."
That being said, students can continue to turn to resources on campus such as the Financial Aid Office in time to see some results if they act fast.
"At ISU, we ask that students fill out their FAFSA by March 1," Jana Albrecht, director of the Financial Aid Office said. "Now students can file it on a weekly basis."
While the deadline for many of the smaller grants has passed, the federal deadline for the Pell Grant will fall on July 1, 2009. However, students need not hesitate if they plan to apply.
"We actually have to have a completed application by the last day of their attendance," Albrecht said.
The rolling deadline for the Illinois Student Assistance Commission MAP Grant is August 15, 2008. According to Bragg, $1.1 million has been earmarked each year for the last four years to fund the grant.
"[That's] $4.5 million to supplement financial aid that is already there for students who are eligible," Bragg said. "We take it very seriously."
Students are also encouraged to search for scholarship opportunities as deadlines and rules vary between individual institutions. The Scholarship Resource Office's Web site offers tips for seeking out such aid as well as lists of ISU scholarships available through different departments free of charge.
"The hard part for students is finding the time to sit down and do the search and actually go through the process," Albrecht said.
"Even if it's a $500 scholarship…if you get three of those, it can help. It will pay off if you work at it. We have students whose entire cost is made up of free money."
Students taking summer classes can still apply for assistance if they are taking six or more credit hours and Albrecht recommends they do so through ISU before going to an outside lender.
"[It's] best to go through us first," she said, "We always want people to get free money before getting a loan."
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