Financial Aid

Students enrolled at McKendree University's Center at Scott AFB may be eligible for a variety of financial aid and scholarships including: 


•   Federal Pell Grant

•   Illinois Monetary Award Program (MAP) Grant

•   Federal Direct Subsidized Loan

•   Federal Direct Unsubsidized Loan

•   Additionally, all courses have been approved for Veterans' Education Benefits and both military and corporate tuition assistance.


Follow these steps to have your eligibility determined for all financial aid including loans:


1.   Complete a FAFSA (Free Application for Federal Student Aid) electronically @ www.fafsa.gov/ . You will be using the previous year’s Federal Income Tax forms. Please go to the www.pin.ed.gov  web site to register for your Personal Identification Number if you do not have one. This unique number represents your electronic signature.

2.   List McKendree as one of your school choices in Section 6 on the FAFSA. McKendree’s school code is 001722.  IL residents wishing to be eligible for IL grants: your FAFSA information must be received by the Federal Processor as soon as possible after January 1st. Since not all students meet the residency requirements, please refer to the Source of Aid Handout.

3.   You will receive an e-mail confirming that your application has been processed. You will be able to print your Student Aid Report (SAR) at this time. 


4.   All students expecting to use scholarships or loans through financial aid are encouraged to register as soon as possible in order to allow enough time for all processes to be completed. McKendree’s Office of Financial Aid will review your SAR and will determine your eligibility for any financial aid after you have registered.  An award letter will be mailed to you listing all sources of aid.  If additional documents are required you will be notified in your original letter.  No loans will be processed nor aid disbursed until all documents are submitted and reviewed by the Office of Financial Aid.

5.   Important!  All questions on the FAFSA must be completed with accurate information. These answers may impact your financial aid eligibility. If you are uncertain of your response, please contact the Office of Financial Aid.

To check on the status of your FAFSA you may call: 1-800-433-3243 or look online at www.fafsa.gov.

 


Types of Financial Aid



You must complete a FAFSA every year to be determined eligible for all of these types of financial aid:


Federal Pell Grant

A Federal Pell Grant does not have to be repaid.  Pell Grants are awarded usually only to undergraduate students who have not earned a Bachelor's degree or a professional degree. LIfetime eligibility is equivalent to 12 full-time semesters.


ISAC / MAP Grant

The Monetary Award Program (MAP) provides grants to Illinois residents who attend approved IL colleges.  These do not have to be repaid.  Lifetime eligibility is equivalent to nine full-time semesters.


Federal Direct Subsidized Loan

Low interest, need-based loan with 4.66% interest. Loan limits are based on the student’s grade level. Interest is paid by the Federal Government while the borrower is enrolled in school at least ½ time.


Federal Direct Unsubsidized Loan

Similar to Subsidized Stafford except the student pays the interest while in school or has the interest capitalized. Interest on Unsubsidized loans is 4.66%.  Origination fees of 1% will be deducted from each loan disbursement for both Subsidized and Unsubsidized loans.


Enrollment Classifications



ISAC MAP GRANT

15 or more hours for Full-time award
Less than 15 hours is prorated

 

PELL GRANT

12 or more hours Full-time
9-11 hours 3/4 time
6-8 hours 1/2 time
1-5 hours 1/4 time


Referral Phone Numbers



Federal Student Aid Information Center

1-800-433-3243
The Information Center can:

- Assist in completing FAFSA
- Explain federal student aid eligibility requirements
- Explain the process of determining financial need and awarding aid
- Send federal student aid publication to you


Illinois Student Assistance Commission

1-800-899-4722
ISAC can assist you with:
-Information regarding Illinois State MAP grant and other state financial aid programs

The Center at Scott Financial Aid Advisor

MAIN NUMBER: 1-800-232-7228 Ext. 6532 or 618-537-2146 FAX 618-537-6530


Steps to Receive a Loan



Complete the FAFSA (Free Application for Federal Student Aid). 


Register for at least 6 hours of classes. Students are encouraged to register at least 1 month before classes begin to allow enough time for all processes to be completed.

Complete the necessary paperwork for the Financial Aid file (i.e. verification).

Students must complete and return to McKendree's Office of Financial Aid the loan acceptance form  included with the award letter. Students will be packaged with loan amounts based on class level (i.e. Junior, Senior) at time of packaging.

All first time borrowers at McKendree must complete the loan acceptance, the master promissory note (MPN) at student loans.gov , and the loan entrance counseling at mappingyourfuture.org.
Please allow 30-40 minutes, without interruption, to complete these processes.