Federal, State and University Aid Programs

Grants | Student Employment | Scholarships | Loans

(Minimum of 6 semester hours per term enrollment required)

Grants

Federal Pell Grants are based on need as determined by the federal government and the funding level approved by Congress. The 2008-2009 award ranges from $890 - $4,731.

Federal Supplemental Educational Opportunity Grants (SEOG) are available to students who are eligible for the Pell Grant. These limited federal funds are dependent on congressional appropriations and are awarded by the college or university in varying amounts.

Illinois Monetary Award Program Grants (MAP) are available to Illinois residents attending an Illinois college. Illinois residents automatically apply for the MAP Grant by filing a FAFSA. To be considered for the MAP Grant as a new student, you must file the FAFSA by September 30.  If you are a continuing student, the deadline is August 15.

MAP grants are limited based on the number of applicants and funding levels appropriated by the Illinois General Assembly. The estimated maximum award for 2008-2009 is $4,968 based on a registration of 15 semester hours or more. Please be aware that in light of state funding constraints, reductions to estimated or actual MAP grants are possible.

Aurora University Grants are awarded on the basis of financial need. Awards range from $100 to $6,000 and are given to both Illinois and out-of-state students.

Student Employment (Federal Work-study)

Federal College Work Study (FWS) is based on need and is funded by federal and university dollars. The 2008-2009 FAFSA must be completed for your eligibility to be determined by the Financial Aid Office. The amount of your FWS eligibility will be listed on your financial aid award letter. Typically, FWS awards range from $500 to $3,500 for the academic year (no summer term eligibility). FWS monies are not credited to your student account/ bill like a grant or scholarship.  A student accesses their FWS award through a bi-weekly payroll check.

A variety of on-campus student employment opportunities are available at Aurora University through the Student Work Corps Program. There are also employment opportunities available in off-campus community service settings as well.  Students are advised to weigh several factors such as the job requirements, their skill level, their interests and their class load before pursuing available positions.

Earnings begin at $7.50 with work schedules ranging from 5 to 20 hours per week. Employment earnings may be used to help cover out-of-pocket expenses such as gas and books.  Please contact Career Development in the Crouse Center for Student Success at 630-844-6870 or visit them online for more information about the Student Work Corps Program.

Scholarships

There are opportunities for financial assistance available to students who do not demonstrate federal and/or state eligibility on the basis of the FAFSA. However, it is strongly recommended that students complete the FAFSA even if their ability to receive financial assistance is doubtful.

Scholarships, many of which are endowed by generous donors to the University, and some grants are awarded based on a student’s cumulative high school GPA and composite ACT score. They are available to all full-time, first-time freshmen based on merit. All awards are renewable for up to four years for students who maintain the required renewable GPA for each scholarship level.

The following scholarships and grants are available for students entering the university during the 2008-2009 academic year:

Financial aid awards cannot exceed the overall cost of tuition, room and board (if applicable) at Aurora University.

Alumni Legacy Grants are awarded to the children and grandchildren of alumni of Aurora University and George Williams College. The amount of the Legacy award is $1,000 per year for a full-time student and $500 per year for a part-time student. An application must be completed and returned to your Admission representative in order to verify eligibility.

The Aurora University Family Discount is awarded to students who have a sibling enrolled at Aurora University or George Williams College concurrently. Each family member attending Aurora University must be a full-time student. The amunt of the Family Discount is $300 per year for each family member that attends Aurora University. An application must be completed and returned to the Financial Aid Office in order to verify eligibility.

Out-of-State Grants of $1,000 per year are awarded to students residing outside the state of Illinois who live on campus during the academic year and whose parents are not Illinois residents.

Music and theatre scholarships are available in amounts ranging from $500-$2,000. Auditions are required. Please contact your Admission representative for further information.

The Solon B. Cousins Scholarship in the amount of $1,000 is awarded to students who are recommended by their local YMCA Executive Director and are enrolled in the YMCA Senior Directors Certification Program. An application must be completed and returned to Jennifer Buckley, Supplemental YMCA Coordinator (see application for more details).

Scholarships for Transfer Students
Transfer students are awarded need-based financial aid in the same manner as freshmen students. Awards are based on information provided on the FAFSA. Thus, it is important for transfer students to complete the FAFSA even if they are not sure whether they will qualify for need-based financial aid.

Transfer students who qualify are also awarded merit-based financial aid based on their cumulative transfer GPA. Awards are determined as follows for full-time transfer students entering the university during the 2008-2009 academic year:

* An additional scholarship of $1,500 is added for those with a membership in Phi Theta Kappa

Dunham Scholars are chosen from among juniors and seniors majoring in a business-related field who complete a special application. They are awarded full tuition. Dunham Scholars are expected to perform 20 hours per week of voluntary service to the University. Students can get information and an application from the Dunham School of Business. This scholarship cannot be combined with other Aurora University merit awards.

Transfer students are also eligible for Legacy, Out-of-State, and Solon B. Cousins scholarships.

Loans

Federal Perkins Loans are long-term, low-interest loans made available by the college or university and the federal government. Simple interest of five percent begins to accrue nine months after you are no longer enrolled in school at least half-time. The loan is interest-free as long as the borrower remains a student. An Entrance Interview is required for first time Perkins loan borrowers at Aurora University. An Exit Interview is required for all Perkins loan borrowers who either graduate, withdraw or are registered below half-time.

Federal Stafford Loans (subsidized) are available to students who filed a FAFSA and are enrolled at least half-time. Freshmen are eligible to borrow up to $3,500 a year, sophomores $4,500 a year, and all other undergraduate students $5,500 a year. The federal government will pay the interest as long as the student remains enrolled at least half-time. Repayment of loan principal plus interest begins six months after leaving school. The current interest rate is 6.8 percent, but it is capped at 8.25 percent. An Entrance Interview is required for first time Stafford loan borrowers at Aurora University. An Exit Interview is required for all Stafford loan borrowers who either graduate, withdraw or are registered below half-time.

Federal Stafford Loans (unsubsidized) follow the same guidelines as the subsidized Stafford Loan except the government does not pay the interest payments. The student may choose to make interest payments while in college or allow them to accrue. Independent students may borrow an additional $4,000 as first-year students and sophomores. Juniors or seniors may borrow $5,000 per year.

Federal PLUS loans are available to parents who have a dependent child enrolled in college. These loans are guaranteed by the federal government and also need lender approval based on a credit check. Individual eligibility is determined by subtracting any financial aid available for the academic year from the cost of education. Financial need is not a prerequisite. Repayment begins within 60 days of the final disbursement. The current interest rate is fixed at 8.5 percent.

For detailed information about interest rates for the Stafford and PLUS Loan programs, please visit CollegeZone. We also recommend contacting your lender for current interest rates and payment options.

Aurora University Student Loans (AUSL) are low-interest loans given to qualifying full-time students. Loans are given for one term at a time, based on registration. The AUSL is based on available funding, with the maximum annual award of $1500.