Financial Aid

Students who attend the University may be eligible to receive financial aid in the form of loans, scholarships, tuition waivers, grants and employment. In addition to funds received through gift aid and loans, many Illinois State students seek employment to help cover expenses.

Students interested in applying for financial assistance may contact the Financial Aid Office.

All students are encouraged to apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA). This application determines eligibility for state, federal and institutional financial aid, including federal student loans.

Undocumented students who are not eligible for federal financial aid and not eligible to complete the FAFSA may complete the Alternative Application for Illinois Financial Aid to be considered for state and institutional financial aid.

Financial aid counselors are available Monday through Friday from 8:00 a.m. to 4:30 p.m. In addition, you may access information on the Financial Aid Office website.

Institutional and Financial Assistance Information for Students

The law (the Higher Education Act of 1965, as amended, and regulation 34 CFR 668) requires Illinois State University to notify enrolled students and the parents of dependent enrolled students annually of the availability of the following information:

your rights under the Family Education Rights and Privacy Act;
your right to a deferment of repayment of your Federal Direct Loan for Peace Corps or volunteer service;
financial aid available at Illinois State University;
information about Illinois State University;
the graduation rate of degree-seeking, full-time undergraduate students at Illinois State University;
an annual campus security report; and,
a report on athletic program participation and financial support data.

General Eligibility Criteria

To qualify for federal or state financial aid programs, you must:

be a United States citizen or be an eligible non-citizen;
submit the Free Application for Federal Student Aid (FAFSA) to the federal processor;
be enrolled for a minimum of 6 hours (half-time status) per semester (Students not pursuing a degree or unclassified students are not eligible for financial aid, including loans.); not be in default on a Perkins Loan or any federally guaranteed loan;
not owe a repayment to a federal grant program; and
make satisfactory progress toward a degree as defined by Illinois State University (See Satisfactory Academic Progress)

NOTE: Generally a student may not receive federal or state financial aid from more than one institution at the same time.

Application Procedures

To be considered for financial aid at Illinois State University, you must complete and submit the Free Application for Federal Student Aid (FAFSA), or the Renewal FAFSA, based on the following time table:

In September renewal aid applicants will be sent an email notification for FAFSA on the Web if they provided a valid email address on the current year’s FAFSA.
In October Complete the FAFSA online
Typically the priority FAFSA filing date for Illinois State University is November 15 each year. The federal processor must receive your application by this date to ensure your application receives full consideration for all financial aid programs. Due to a federal delay in the release of the FAFSA application for 2024-2025, the Illinois State University priority filing date has been extended to April 1. If your FAFSA is received after the priority date, you will be considered for financial aid programs for which you are eligible and that have remaining funds.

The income and asset information provided on the FAFSA determines your financial aid eligibility. Be sure to use Illinois State's Title IV school code: 001692. There is no separate institutional application for financial aid at Illinois State. You will need to submit an additional application for summer aid (see Financial Aid for Summer Session).

Financial Aid for the Summer Session

If you are enrolled for at least six hours of coursework, you may apply for financial aid. The application form for the Summer Session will be available in the Forms and Publications section of the website in early March.

Data from your FAFSA will be used to determine your eligibility for aid for the summer session. Aid funds for the summer session are very limited. Direct Loan funds are available only if you have remaining loan eligibility for your class level.

Verification

The Department of Education’s regulations require the Financial Aid Office to verify the accuracy of financial data for some aid applicants. We call this process “verification.” If your application is selected for verification, you will be notified via email and asked to provide supporting documentation. A list of requested items will also be posted to your “To-Do List” in your Student Service Center. Responding to our requests for documentation in a timely fashion is important to avoid delays in processing your financial aid offer notice and/or disbursing your financial aid.

Types of Aid Available

Federal grants and benefits - Federal grants and benefits are considered “gift-aid” and typically do not need to be repaid.

Scholarships

Loans

Financial Aid Disbursement

If your charges exceed your credits, you will have a leftover balance that will need to be paid. If the amount of financial aid exceeds charges, you will receive a refund of the balance.

Satisfactory Progress

Satisfactory academic progress for federal and state financial programs is based on three measures:

cumulative grade-point average,completion rate based on credit hours completed compared to attempted,
and a maximum timeframe for degree completion.

Enrollment Changes and Financial Aid Eligibility

Exit Information

Before you graduate, or if your enrollment status drops below 6 hours per semester, you will be sent information concerning Direct Loan exit counseling, which outlines loan repayment, consolidation, and deferment options.