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State & Federal Aid EstimatorWelcome to IllinoisMentor's State & Federal Aid EstimatorIllinoisMentor's State & Federal Aid Estimator is designed to provide an estimate of student financial aid eligibility. Here's what the Estimator will do for you:
One of the most important numbers in the yearly financial aid process for you and your family is the Expected Family Contribution (EFC). The EFC is the amount your family is expected to contribute toward paying for your college education. The federal government will determine your EFC when you submit the Free Application for Federal Student Aid (FAFSA), which is the first step in the college financial aid process. Regardless of the college you choose to attend, your EFC will remain the same for the academic year. IllinoisMentor's State & Federal Aid Estimator will provide an estimate of your EFC, which is calculated using the federal methodology. The EFC figure is then used to calculate your estimated eligibility for a federal Pell grant, an Illinois MAP grant, and a subsidized Stafford loan. The Estimator requires a lot of the same information that you'll use to complete your FAFSA, including income information for you and your parents, so it will help to have copies of the federal tax returns for yourself (if you filed one) and your parents at hand before you begin. If you don't have the most recent income information, use your best estimates. Reminder The dollar amounts provided by this Estimator are only estimates. The information provided does not constitute an actual offer for financial aid, nor does it imply acceptance to any college indicated. You should not eliminate any college you may be considering as a result of these estimates. The financial aid office of the college you plan to attend will provide the official information regarding your financial aid eligibility. Start Estimator The IllinoisMentor State & Federal Aid Estimator can be used with or without an IllinoisMentor user account. Having an account allows you to save your information and return at a later date to complete or update your information. However, if you do not wish to create an IllinoisMentor account at this time, you can simply proceed without logging on. |
