Grants are need-based awards funded by the federal or state government. Grants are funds that do not require repayment.
A Federal Pell Grant is awarded based on financial need from your FAFSA application. Federal Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree.
Federal Supplemental Educational Opportunity Grant
The Federal Supplemental Educational Opportunity Grant (FSEOG) is for eligible undergraduate students who will receive Pell Grants and have exceptional financial need. Consideration for a FSEOG will be given first to students with the lowest expected family contribution from their FAFSA application and have a need to help pay down that terms balance.
Illinois Grant Programs
Illinois Monetary Award Program (MAP) Grant
Recipients of a MAP Grant must be Illinois residents (if you are a dependent student, your parent(s) must be Illinois residents), actively pursuing an undergraduate program of study, and be enrolled in at least four quarter credit hours. The MAP Grant is awarded based on the Illinois Student Assistance Commission’s comprehensive review of the family’s financial situation and cost of attending the college, as well as state funding authorization. To be considered for this grant, the applicant must complete a FAFSA prior to the deadline specified by the State of Illinois.
All students must meet the following general eligibility requirements:
For many students and parents, loans represent an important resource to help finance your investment in education. Since Northwestern College is fully accredited by the Higher Learning Commission, we are able to participate in the Federal Student Loan Program, which allows students and their parents to borrow money to help fund their educational program. A loan is money that will need to be paid back. Our financial aid office will be able to answer your questions regarding student loans and discuss repayment options.
Direct Subsidized Loans are available to undergraduate students with financial need. While in school at least half-time, the interest is subsidized by the federal government.
A Direct Unsubsidized Loan may be used instead of or in conjunction with a Direct Subsidized Loan; however, interest on Direct Unsubsidized Loans begins to accrue at disbursement.
Parents of dependent students may borrow up to the cost of attendance, minus other financial aid, based on credit approval. Dependent students whose parents are denied a Direct PLUS Loan may borrow an additional Direct Unsubsidized Loan.
These loans are a flexible alternative for students who want help managing the cost of a college education. Students may borrow up to the cost of their undergraduate education, less financial aid. These loans are credit-based and are available after all federal and state financial aid options are exhausted.
This loan may be used to cover the gap between financial aid and tuition cost once all available financial resources have been exhausted. Students may be eligible to borrow up to $5,000 each academic year for a total of $10,000 funding in the Tuition Flex Program, which varies by program. The interest rate is dependent on the terms of the loan. If enrolled in the autopay option with the Tuition Flex Program, your GAP loan may be reduced by 2%. Our financial aid advisors are able to assist with any questions regarding this option.