What are the different types of financial aid?
Laura Inlow
Last Update 10 maanden geleden
Grants help defray the cost of a college education. Unlike a loan, the money you receive as a grant does not have to be repaid.
Illinois Grants
- ISAC Monetary Award Program (MAP) Grant - This state grant is based on need and provides payment for tuition and mandatory fees only. To qualify, you must meet ISAC Illinois residency criteria. If you are a legal resident of Illinois and you list Lewis and Clark Community College on your FAFSA, the MAP grant application is automatically included. The State of Illinois General Assembly determines specific award amounts.
Other Illinois Grants
For more information about state educational funding, please visit www.isac.org.
Federal Grants
- Federal Pell Grant - The maximum Pell Grant award is up to $7,395 per year. The actual amount of your grant will depend on your estimated family contribution (EFC) number (as determined by your FAFSA), your enrollment status (whether you’re full-time, part-time, or less than part-time), and whether you attend school for the full academic year.
- Federal Supplemental Educational Opportunity Grant (FSEOG) - These grants are for students with the most financial need as determined by their FAFSA. Students who receive Federal Pell Grants, apply for financial aid by the L&C Financial Aid Office’s priority deadline of August 31, 2023, and have the greatest financial need for the 2023-2024 school year are given initial priority. Awards at L&C range from $250 - $500 per year, depending on enrollment status.
Student Loans
Student Loans are money you borrow to help pay for college expenses and must be repaid in the future. Repayment begins six months after you graduate, drop below half-time, or cease attending. More information is available at https://www.lc.edu/pay-for-college/financial-aid/types-of-aid/loans.html.
Scholarships
Scholarships are another type of help that does not need to be repaid. At LC, we have several opportunities through our Institution, Foundation, and other public and private organizations. More information is available at https://www.lc.edu/pay-for-college/financial-aid/types-of-aid/scholarships.html.
Federal Work Study
Federal Work Study (FWS) allows students to work part-time on campus in order to earn a paycheck to help with educational expenses. More information is available at https://www.lc.edu/pay-for-college/financial-aid/types-of-aid/work-study.html.