How financial aid eligibility is determined

The Department of Education calculates your Expected Family Contribution (EFC) from the information you reported on the FAFSA.  The EFC is the amount you or your family is expected to contribute toward your education.  Your EFC is determined from base year income (which is 2006 for the 2007/2008 school year), the number of family members, the number of family members in college, and the value of your assets. 

You and your family are expected to make a maximum effort to finance college expenses.  Financial assistance is meant to supplement that effort. 

If you feel your EFC number is not a true reflection of your ability to contribute to the cost of your education because of special circumstances, contact the Financial Aid Office.  We may be able to adjust the data that determine your EFC or to your Cost of Attendance (COA) budget to better reflect your true need or ability to pay for college.  Additional paperwork, time, and documents are required for these processes. 

Your EFC number, calculated from the information you report on the FAFSA, is used to determine your eligibility for the Federal Pell Grant, the ISAC MAP Grant, the ISAC Silas Purnell IIA Grant, Federal Work Study, and some student loan programs. You do not have to be eligible for a Federal Pell Grant in order to receive an ISAC MAP Grant. If you are not eligible for a Pell Grant, you still need to submit your FAFSA and complete paperwork to the Financial Aid Office to be eligible for the ISAC MAP Grant. 

If you indicate on your FAFSA that you wish to be considered for the Federal Work-Study Program or if we determine that you are eligible for an FSEOG, the Financial Aid Office will indicate these awards on your estimated financial aid award package. This package will specify which programs you’re eligible for and the amount you can expect to receive. Eligibility is determined by the following formula: 

 (COA) - (EFC) = Financial Need 

In order to be eligible to receive any federal and ISAC state student assistance, you must be enrolled as a regular student. For all federal and ISAC state aid programs, you are a regular student if you:

• Exhibit the ability to benefit from higher education by having a high school diploma or General Education Development (GED) certificate; or are beyond the age of compulsory school attendance (17 for the state of Illinois), are not enrolled in high school, and have passed the Department of Education’s approved ability-to-benefit test administered through L&C’s Assessment Center.
• Are enrolled as a degree-seeking student in an eligible program
• Are taking courses that apply toward your program
• Have registered with Selective Service (if you’re male and between the ages of 18 and 25)
• Are a U.S. citizen or eligible non-citizen
• Have not applied for, and are not receiving, financial aid from two colleges at the same time (some exceptions apply; see the Director of Financial Aid for more information).
• Have a valid Social Security number
• Are not debarred or suspended from any federal programs
• Do not owe a federal student aid refund
• Are not in default of a federal student loan.

Some programs require that you be enrolled as a regular student and maintain at least six credit hours of coursework for continued eligibility. 

If you are receiving federal or ISAC state financial aid, you are also responsible for knowing, understanding, and complying with the preceding and following information. All information is subject to change and all changes will be publicized by L&C. This information is correct at the time of this printing and complies with all applicable consumer information reporting requirements. 

What is required after financial aid is received

Once you have received your aid, you’re expected to meet satisfactory academic progress standards. If you do not, you may be denied future financial aid.

You must reapply for financial aid every academic year (which begins with the fall semester and ends with the summer semester).  

If you do not wish to use financial aid to pay tuition and fees for courses you are taking, you must pay those charges yourself or withdraw if you do not plan on attending class. If you do not pay yourself or withdraw, L&C may apply any aid you are eligible for toward your tuition and fees.