Financial Aid Procedures
Students enrolled at McKendree University's Center at Scott AFB may be eligible for a variety of financial aid and scholarships including:
- Federal Pell Grants
- Illinois Student Assistance Commission (ISAC) Grants
- Federal Subsidized Stafford Loan
- Federal Unsubsidized Stafford 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 @ http://www.fafsa.ed.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. This unique number represents your electronic signature.
2. List McKendree as one of your choices in Section 5 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 by 9/30 for first time FAFSA applicants and 8/15 for renewing applicants. (Sometimes the State of IL will move this deadline forward from this date so file your FAFSA ASAP.) 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. Then you will be able to print your Student Aid Report (SAR). Contact the Center at Scott Financial Aid Advisor at 618-537-6532 or 1-800-BEARCAT ext. 6532 to review what your preliminary eligibility has shown and to determine if all necessary paperwork has been received.
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. 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 under Section 1 of 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 Center at Scott AFB.
To check on the status of your FAFSA you may call: 1-800-433-3243.
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 now earned a Bachelor's degree or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.)
ISAC / MAP Grant
The Monetary Award Program (MAP) provides grants, which do not need to be repaid, to Illinois residents who attend approved IL colleges.
Federal Subsidized Stafford Loan
Low interest, need-based loan with a cap of 8.25% 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 Unsubsidized Stafford Loan
Similar to Subsidized Stafford except the student pays the interest while in school or has the interest capitalized.
Enrollment Classifications
ISAC MAP GRANT
15 or more hours Full-time
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
3-5 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
-Lender and student loan guarantee information
The Center at Scott Financial Aid Advisor:
FAX 618-537-6530 MAIN NUMBER: 1-800-232-7228 Ext. 6532
or 618-537-6532
STEPS TO RECEIVE A LOAN
Complete the FAFSA (Free Application for Federal Student Aid). Mark that you are interested in student loans in Section 1.
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).
Returning students must complete and return to McKendree's Office of Financial Aid the loan acceptance form that will be included with the their 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, and the loan entrance counseling at this website http://www.mckendree.edu/prospective/financial_aid/FirstTimeStaffordLoanBorrower.aspx .
Please allow 30-40 minutes, without interruption, to complete these processes.