Learning all you can about financial aid is a vital part of planning for your higher education, because families have the primary responsibility to pay for college. Sometimes, though, a family's resources aren't enough to pay all college expenses. That's where financial aid comes in. There are many different types to help a family meet the costs of higher education, which include direct education costs (such as tuition, fees and books) and indirect costs (things like personal living expenses, food, housing and transportation).
- Financial Aid - Find out about all the types of financial aid - scholarships, grants, loans, and work programs - and how they can help you and your family finance your college education.
- Scholarship Search - Use these free reputable scholarship search services to locate available programs based on personal information you provide.
- FAFSA Transfer - Once you've learned about applying for financial aid through the Free Application for Federal Student Aid (FAFSA), you can transfer your My Mentor profile information to FAFSA on the Web and save time when completing your application.
- e-Messaging Sign-up - Subscribe to College Zone's e-Messaging service and receive periodic messages from ISAC about how to plan for, find and apply to, and finance college.
- Calculators - Use these calculators to estimate the amount of state and federal financial aid you may qualify for, the monthly student loan payment amount once it enters repayment, the monthly payment amount on a graduated repayment plan, and more. The State & Federal Aid Estimator will calculate your expected family contribution (EFC) and estimate your eligibility for a federal Pell grant, an Illinois Monetary Award Program (MAP) Grant and/or a subsidized Federal Stafford loan. In addition, the SLOPE (Student Loans Over Projected Earnings) Calculator can be used to determine what percentage of your income will be taken up by student loan payments, based on your career choice, and how that will impact your monthly budget and future borrowing for high-ticket items such as cars and homes.
