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The Illinois Student Assistance Commission (ISAC) manages multiple programs to help students understand their options for paying college tuition. These programs include financial aid, scholarships, grants, and loans. Quality education is essential for the next generation, and having adequate resources is a critical first step toward a bright future for students. By utilizing these programs, students can expect the necessary guidance for a strong start in college.

Before enrolling in classes, students need a solid foundation, plan, and goals. Initially, they should explore available options for financial planning, choose suitable programs, and utilize online resources. Online tools are useful for researching colleges that fit their needs, exploring career paths, and understanding the admissions process.

Financial aid has enabled countless students to complete their degrees and pursue quality education. Eligibility for financial aid depends on the student's and their family's financial situation and requires timely application submission. The first step in this process is completing an application through the Free Application for Federal Student Aid (FAFSA), which is available online.

Scholarship programs provide "gift aid" that rewards students for unique skills, special talents, grades, or athletic achievements. Most scholarships do not require repayment but may have specific program requirements. Students should begin exploring scholarship options once they have selected a college to attend.

Grants are another form of "gift aid" that does not need to be repaid. Typically awarded by the government or the attending college, grants consider students automatically if they submit a FAFSA application. Three common types of grants include:

- State of Illinois Monetary Award Program (MAP) grant

- Federal Pell Grant (Pell)

- Federal Supplemental Educational Opportunity Grant (SEOG)

Loans allow students to borrow money from the government, banks, or other lending institutions with an obligation to repay with interest. Students should understand borrowing basics and research loan options carefully while only borrowing what is necessary. Examples of loans include:

- Student Loans – Federal Subsidized and Unsubsidized

- Parent Loans – Direct PLUS Loan applied by parents

- Private Loans – Nonfederal loans made by lenders

For additional information about planning your future in college, visit the Illinois Student Assistance Commission website.

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