Mar
21

Last Week to Apply for Aid, Illinois Collegians

March 21, 2011

If you are an Illinois resident who will be attending an Illinois college next fall and could benefit from financial aid, you should know that Friday is the deadline to apply for it.

The Illinois Student Assistance Commission has declared Friday, March 25, the last day to apply for a grant through the state’s Monetary Award Program.

That is the earliest deadline ever enlisted by the state.

According to the Sun-Times, state officials said they are going to stop taking applications for grants of up to $5,000 per year because the demand for aid is larger than the amount of funds available.

More than 130,000 applications have been submitted so far. And, because of the rough economy and rising tuition costs, more students are qualifying for more assistance.

Last year, the funds lasted through mid-April, almost two months before the cut-off time in 2009.

ISAC Executive Director Andy Davis said 130,000 students were awarded grants last year but that as many as 150,000 grants could be granted for the upcoming school year.

The problem is that on top of the 130,000 receiving aid last year, 140,000 students were denied assistance; a similar amount could be turned down again this year.

Any Illinois resident attending a school in Illinois is eligible to apply for financial aid from the state.

For more information on the program and to fill out a free application for Federal Student Aid, visit fafsa.ed.gov.

Try to do it by Friday. After then, you can and should still apply because there are still other resources available.

Categories: Economy, Education

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