Parents of college students and high school seniors headed that way should be busy filling out financial aid paperwork — if they haven’t already.
The Free Application for Federal Student Aid (better known as the FAFSA) determines eligibility for all financial aid, including Illinois’ grants for lower-income students.
The old FAFSA application period opened on Jan. 1, and you couldn't complete the form until you'd filed your taxes. But as of last year, the federal government decided to accept “prior prior” year’s taxes,
which means families can use their 2016 tax returns to file as early as Oct. 1.
Carolyn Schloemann, financial aid director at the University of Illinois Springfield, says some folks take that start date very seriously.
"High school guidance counselors, I was told last week, some of them set up some FAFSA completion workshops at midnight,” she says. “How many of those happened across the state I can't tell you, but I know that there are a few schools, especially up in the Chicagoland area, that did that."
The story was reported by NPR Illinois on October 3, 2017.
Read the full story online.
Showing posts with label Financial Assistance. Show all posts
Showing posts with label Financial Assistance. Show all posts
Thursday, October 5, 2017
Wednesday, February 17, 2016
State grants for schools could be cut due to budget
Illinois has now gone eight months without a state budget.
With the lack of state dollars, college students are feeling the pressure. Financial aid programs, that are meant to help with the burden of costs, could soon be cut
"We have reached the breaking point when it comes to this budget impasse," said Senator Dick Durbin (D-Illinois).
Eight months without a budget is starting to take a toll on a couple students.
Senator Durbin met with higher education officials Monday in effort to warn people about the lack of money for student financial aid.
"Now we have to realize, that if we jeopardize higher education for these students. We could pay the price for a long, long time to come," he added.
Students fear the state could cut MAP grants, which provide $5,000 toward their education.
"We're playing with people's dreams here now. Eight months into this, people have to worry about if they can come back to school next semester; be the lawyer that sought out to be; or be the social worker they sought out to be," said University of Illinois Springfield Senior Jamie Anderson.
Even if lawmakers are able to come to agreement, the MAP grants could be lower, which isn't sitting well with students.
"I would not be the student I am today if I did not receive the MAP grant funding. Nobody can just come up with $20 to $26,000 for school," said Anderson.
Senior Dominique Wilson has received map funding each year of his college education. And he's counting on the money this year as well.
"That support for my life, for my education, my goals may not happen and may be taken away from me because of the uncertainty going on with the budget," said UIS Senior Dominique Wilson.
The story was featured on WICS-TV on February 15, 2016.
Watch the story online
With the lack of state dollars, college students are feeling the pressure. Financial aid programs, that are meant to help with the burden of costs, could soon be cut
"We have reached the breaking point when it comes to this budget impasse," said Senator Dick Durbin (D-Illinois).
Eight months without a budget is starting to take a toll on a couple students.
Senator Durbin met with higher education officials Monday in effort to warn people about the lack of money for student financial aid.
"Now we have to realize, that if we jeopardize higher education for these students. We could pay the price for a long, long time to come," he added.
Students fear the state could cut MAP grants, which provide $5,000 toward their education.
"We're playing with people's dreams here now. Eight months into this, people have to worry about if they can come back to school next semester; be the lawyer that sought out to be; or be the social worker they sought out to be," said University of Illinois Springfield Senior Jamie Anderson.
Even if lawmakers are able to come to agreement, the MAP grants could be lower, which isn't sitting well with students.
"I would not be the student I am today if I did not receive the MAP grant funding. Nobody can just come up with $20 to $26,000 for school," said Anderson.
Senior Dominique Wilson has received map funding each year of his college education. And he's counting on the money this year as well.
"That support for my life, for my education, my goals may not happen and may be taken away from me because of the uncertainty going on with the budget," said UIS Senior Dominique Wilson.
The story was featured on WICS-TV on February 15, 2016.
Watch the story online
Tuesday, February 2, 2016
A "MAP" of how higher ed and students are lost in Illinois' political battle
College campuses (and the politics behind them) are taking center stage in
Springfield's festering stalemate.
Gridlock has kept money from going to higher education since July. Then, in a matter of hours on Thursday, Democratic lawmakers approved a plan that would pump $720 million dollars into the system. Republicans are calling it a "cruel hoax" that's giving students false hope, even though they, too, say they want to help higher ed. It's a scenario that demonstrates the partisan tensions, and politics, at play.
Legislators on the House higher education committee recently had the chance to meet someone.
"Good afternoon, thank you for having me. My name's Jamie Anderson, I'm a senior at the University of Illinois Springfield. I'm from Stillman Valley, Illinois which is a small town ten minutes outside of Rockford, Illinois."
Anderson says everyone in her life had told her, she'd never make it that far.
"I was a ward of the state. I was a foster child for 11 years. And I just didn't have a family to afford for me to come to college," she testified Wednesday.
She says the Monetary Award Program made it possible.
"I would not be here today if it wasn't for the MAP grant. I would not be the student leader I have become today if it was not for the MAP grant," Anderson, 22, told representatives.
This story was featured on NPR on January 29, 2016.
Listen to the story online
Gridlock has kept money from going to higher education since July. Then, in a matter of hours on Thursday, Democratic lawmakers approved a plan that would pump $720 million dollars into the system. Republicans are calling it a "cruel hoax" that's giving students false hope, even though they, too, say they want to help higher ed. It's a scenario that demonstrates the partisan tensions, and politics, at play.
Legislators on the House higher education committee recently had the chance to meet someone.
"Good afternoon, thank you for having me. My name's Jamie Anderson, I'm a senior at the University of Illinois Springfield. I'm from Stillman Valley, Illinois which is a small town ten minutes outside of Rockford, Illinois."
Anderson says everyone in her life had told her, she'd never make it that far.
"I was a ward of the state. I was a foster child for 11 years. And I just didn't have a family to afford for me to come to college," she testified Wednesday.
She says the Monetary Award Program made it possible.
"I would not be here today if it wasn't for the MAP grant. I would not be the student leader I have become today if it was not for the MAP grant," Anderson, 22, told representatives.
This story was featured on NPR on January 29, 2016.
Listen to the story online
Tuesday, December 15, 2015
No money, mo' problems
Thousands of college students in Illinois are starting to feel the effects of the budget impasse that has left many state government agencies with limited funding. Included in that group is the Illinois Student Assistance Commission, which distributes MAP grants to help college students.
At the University of Illinois Springfield, the administration applied the MAP grants to students’ accounts and has made a commitment to also apply funds for the spring semester, said Carolyn Schloemann, acting director of the Office of Financial Assistance at UIS.
“Our students, at this time, are not feeling any adverse consequences to the fact that the budget hasn’t been passed,” she said.
So far, UIS has done what they do with the MAP grants every year. Money is applied to eligible students’ financial aid accounts at the beginning of the semester. Then, in October, the school begins billing the state for what they paid out for the fall semester; billing would continue until the deadline in December. Finally, in late December or early January, the state would begin reimbursing the school.
Except this year, they aren’t expecting any money from the state.
“That’s the different piece now,” Schloemann said.
UIS is seeing the budget impasse affect them in other ways, said UIS spokesman Derek Schnapp. UIS has limited spending, and hiring for vacant positions has temporarily stopped. Additionally, a new public safety building has been put on hold.
The story was reported by The State Journal-Register's Voice Section on December 15, 2015.
Read the article online.
At the University of Illinois Springfield, the administration applied the MAP grants to students’ accounts and has made a commitment to also apply funds for the spring semester, said Carolyn Schloemann, acting director of the Office of Financial Assistance at UIS.
“Our students, at this time, are not feeling any adverse consequences to the fact that the budget hasn’t been passed,” she said.
So far, UIS has done what they do with the MAP grants every year. Money is applied to eligible students’ financial aid accounts at the beginning of the semester. Then, in October, the school begins billing the state for what they paid out for the fall semester; billing would continue until the deadline in December. Finally, in late December or early January, the state would begin reimbursing the school.
Except this year, they aren’t expecting any money from the state.
“That’s the different piece now,” Schloemann said.
UIS is seeing the budget impasse affect them in other ways, said UIS spokesman Derek Schnapp. UIS has limited spending, and hiring for vacant positions has temporarily stopped. Additionally, a new public safety building has been put on hold.
The story was reported by The State Journal-Register's Voice Section on December 15, 2015.
Read the article online.
Wednesday, October 21, 2015
Students urge lawmakers to fix budget
They ditched the lecture halls and computer labs for a different classroom setting.
Hundreds of university students made their way to the Capitol to lobby for funding.
Students from the state's nine public universities showed up to demand action. Since the start of the semester, many students have been without MAP Grants. Tuesday, they pleaded for answers.
"Sixty to seventy students that are here from the campus." Mitch Dickey stepped out from his role in the student government to handle state government. "Students are known for exactly not engaging, not voting, not doing all these things. But, what we have here today, 250 students. That speaks volumes."
For the first time in history, the state has failed to appropriate funds to the colleges. "Students are on the line right now. Time is of the essence. We're looking at 130,000 students across the state that receive MAP Grants." Now, students are relying on the universities to help pay for their educations, so they asked lawmakers what they're going to do.
"I really just want to get across to our legislators how important higher education is to us, to our community, to the people of Illinois." Senators stepped out from the session doors to meet with students like DeJa' Willingham, from UIS. She's worried about completing school. "We can post on Facebook and take pictures, but really, showing up shows we care and we're here."
This story appeared online on WCIA on October 20, 2015.
Watch the story here.
Hundreds of university students made their way to the Capitol to lobby for funding.
Students from the state's nine public universities showed up to demand action. Since the start of the semester, many students have been without MAP Grants. Tuesday, they pleaded for answers.
"Sixty to seventy students that are here from the campus." Mitch Dickey stepped out from his role in the student government to handle state government. "Students are known for exactly not engaging, not voting, not doing all these things. But, what we have here today, 250 students. That speaks volumes."
For the first time in history, the state has failed to appropriate funds to the colleges. "Students are on the line right now. Time is of the essence. We're looking at 130,000 students across the state that receive MAP Grants." Now, students are relying on the universities to help pay for their educations, so they asked lawmakers what they're going to do.
"I really just want to get across to our legislators how important higher education is to us, to our community, to the people of Illinois." Senators stepped out from the session doors to meet with students like DeJa' Willingham, from UIS. She's worried about completing school. "We can post on Facebook and take pictures, but really, showing up shows we care and we're here."
This story appeared online on WCIA on October 20, 2015.
Watch the story here.
Monday, August 17, 2015
Local colleges crediting students for MAP grants held up by state budget impasse
Students who depend on Monetary Award Program (MAP) grants to help with college tuition and fees are in limbo because of the state budget impasse, but most apparently will be able to attend classes this fall.
Without a final budget, the Illinois Student Assistance Commission, which administers the state-funded MAP grants, doesn’t know what will be appropriated for the program for the 2015-16 school year and can’t pay schools on behalf of students.
However, many schools, including the University of Illinois Springfield, Lincoln Land Community College and others, are crediting student accounts for MAP on the assumption there eventually will be a budget and they will be paid.
“We’re going to go ahead and apply the money to student accounts just like they had a budget,” said Carolyn Schloemann, acting director of financial assistance at UIS. “Our students won’t be penalized because there’s not a state budget.”
At UIS, 815 students received MAP grant funding totaling just more than $2.6 million last year, an average grant of $3,232 per student.
Jamie Anderson, 21, is a senior majoring in social work at UIS. She holds down two jobs — one at the campus records and registration office and another at Meijer — and counts on a MAP grant to fill the gap in her tuition and fees.
“It’s a huge worry of mine,” that the money won’t be there, she said. “I really depend on that grant as an independent student. Loans are hard to get because there’s no one to co-sign for me.”
The story was reported by The State Journal-Register on August 14, 2015.
Read the full article online.
Without a final budget, the Illinois Student Assistance Commission, which administers the state-funded MAP grants, doesn’t know what will be appropriated for the program for the 2015-16 school year and can’t pay schools on behalf of students.
However, many schools, including the University of Illinois Springfield, Lincoln Land Community College and others, are crediting student accounts for MAP on the assumption there eventually will be a budget and they will be paid.
“We’re going to go ahead and apply the money to student accounts just like they had a budget,” said Carolyn Schloemann, acting director of financial assistance at UIS. “Our students won’t be penalized because there’s not a state budget.”
At UIS, 815 students received MAP grant funding totaling just more than $2.6 million last year, an average grant of $3,232 per student.
Jamie Anderson, 21, is a senior majoring in social work at UIS. She holds down two jobs — one at the campus records and registration office and another at Meijer — and counts on a MAP grant to fill the gap in her tuition and fees.
“It’s a huge worry of mine,” that the money won’t be there, she said. “I really depend on that grant as an independent student. Loans are hard to get because there’s no one to co-sign for me.”
The story was reported by The State Journal-Register on August 14, 2015.
Read the full article online.
Friday, April 10, 2015
Congressman Rodney Davis talks student loans
Congressman Rodney Davis stopped in Springfield today to talk about student loans while Congress is on break.
Davis and his Millenial Advisory Board spoke with students at the University of Illinois Springfield campus.
He says loan debt is a major concern for parents and families, but there are few solutions in sight in Congress.
Davis is proposing a bill that would allow employers to help students in relieving their college debt.
He also says Washington's approach to student loans should change. "We need to make college affordability more transparent," said Congressman Davis. "We also need to make sure families and institutions where their students are going to, that they understand what the true cost of college is going to be."
Congressman Davis says the bill would provide tax incentives for employers to help students pay off loans. He says he expects the bill would have bipartisan support. When asked about a timetable, Davis said the bill was "in process.
This story appeared online on WICS NewsChannel 20 on April 9, 2015.
Watch the story online.
Davis and his Millenial Advisory Board spoke with students at the University of Illinois Springfield campus.
He says loan debt is a major concern for parents and families, but there are few solutions in sight in Congress.
Davis is proposing a bill that would allow employers to help students in relieving their college debt.
He also says Washington's approach to student loans should change. "We need to make college affordability more transparent," said Congressman Davis. "We also need to make sure families and institutions where their students are going to, that they understand what the true cost of college is going to be."
Congressman Davis says the bill would provide tax incentives for employers to help students pay off loans. He says he expects the bill would have bipartisan support. When asked about a timetable, Davis said the bill was "in process.
This story appeared online on WICS NewsChannel 20 on April 9, 2015.
Watch the story online.
Tuesday, January 6, 2015
UIS Financial Aid Director: Apply for FAFSA Immediately
The start of the year means a new year to apply for federal financial aid, better known as FAFSA.
If you need financial aid, you should look into applying as soon as possible.
It became available January 1 for the 2015-2016 school year.
It's the largest student financial aid provider in the country.
You should apply for the aid because it gives you more opportunities to get help, and you don't need your 2014 taxes, said Carolyn Schloemann, the acting financial aid director at the University of Illinois Springfield.
“Go ahead and fill out the 2015-2016 application using their 2013 taxes that were already completed,” Schloemann said. “Go ahead and submit the application and then once their taxes are done for 2014, they can go in and make a correction to the 2015-2016 application and still have the application on file and still be considered for all the grant programs that might be available.”
Schloemann said more students are sending their FAFSA applications early in January, but there are some students who learn too late about the advantages.
This story appeared online at WICS Newschannel 20 on January 5, 2015.
Watch the story online.
If you need financial aid, you should look into applying as soon as possible.
It became available January 1 for the 2015-2016 school year.
It's the largest student financial aid provider in the country.
You should apply for the aid because it gives you more opportunities to get help, and you don't need your 2014 taxes, said Carolyn Schloemann, the acting financial aid director at the University of Illinois Springfield.
“Go ahead and fill out the 2015-2016 application using their 2013 taxes that were already completed,” Schloemann said. “Go ahead and submit the application and then once their taxes are done for 2014, they can go in and make a correction to the 2015-2016 application and still have the application on file and still be considered for all the grant programs that might be available.”
Schloemann said more students are sending their FAFSA applications early in January, but there are some students who learn too late about the advantages.
This story appeared online at WICS Newschannel 20 on January 5, 2015.
Watch the story online.
UI proposes no tuition hike for freshmen
Faced with more Illinois students turning them down, the University of Illinois has proposed keeping tuition rates flat for in-state freshmen who enroll for this fall.
The move was prompted in part by an increasing number of Illinois students who have declined offers of admission to the state's flagship university in recent years and an attempt by the UI to lessen the burden on middle-class students who find themselves not poor enough to qualify for financial aid but not wealthy enough to pay full sticker price for a college education.
UI trustees, President Bob Easter and President-elect Tim Killeen praised the plan, which was detailed Monday at a trustee committee meeting. The proposal will likely be approved next week when the board meets as a whole in Chicago.
Killeen, sitting alongside Easter in Washington, D.C., listened in on the meeting via videoconference. "I'm supportive of the tuition freeze. I think that will play very well," he said. "I think we're heading in the right direction," added trustee James Montgomery.
Freshmen from Illinois would pay no increase in the general tuition rate on the university's three campuses.
For non-Illinois residents, base tuition rates would increase by 2 percent, according to the proposal.
Base tuition for in-state students currently is $12,036 a year in Urbana-Champaign, $10,584 in Chicago and $9,405 in Springfield.
This story appeared online in The News-Gazette on Monday, January 5, 2015.
Read the entire story here.
The move was prompted in part by an increasing number of Illinois students who have declined offers of admission to the state's flagship university in recent years and an attempt by the UI to lessen the burden on middle-class students who find themselves not poor enough to qualify for financial aid but not wealthy enough to pay full sticker price for a college education.
UI trustees, President Bob Easter and President-elect Tim Killeen praised the plan, which was detailed Monday at a trustee committee meeting. The proposal will likely be approved next week when the board meets as a whole in Chicago.
Killeen, sitting alongside Easter in Washington, D.C., listened in on the meeting via videoconference. "I'm supportive of the tuition freeze. I think that will play very well," he said. "I think we're heading in the right direction," added trustee James Montgomery.
Freshmen from Illinois would pay no increase in the general tuition rate on the university's three campuses.
For non-Illinois residents, base tuition rates would increase by 2 percent, according to the proposal.
Base tuition for in-state students currently is $12,036 a year in Urbana-Champaign, $10,584 in Chicago and $9,405 in Springfield.
This story appeared online in The News-Gazette on Monday, January 5, 2015.
Read the entire story here.
Tuesday, October 7, 2014
Managing The Rising Cost of College
Of the many reasons you'll want to watch your money closely, there's this; the cost of a college education.
Some students at the University of Illinois Springfield say they're racking up tens of thousands of dollars in debt each year.
According to Collegedata.com the average cost to attend a private college is more than $30,094. For in-state residents at public universities, it is $8,893. And the price tag for out-of-state residents attending public universities is $22,203.
Students struggling to manage their money and get an education are well aware of the financial strains it puts on them, and their families.
"Scared! I need to get a job, because I'm still applying for jobs right now." Said Infiniti Starks, a freshmen at the University of Illinois Springfield.
Another freshmen at the University of Illinois Springfield, Marvell Anderson also shares this cause for concern. "That's a lot of money. So I'm kind of scared, but at the same time I can't really focus on that," he said.
Those two students say they're focused on getting an education first, and then getting a job after graduation to pay off their student loans.
Here are three things, you can do, to keep your debt under control: First, don't borrow more money than you must. Remember, you have to pay it all back, at some point. Second, keep track of how much you owe. Knowing this will keep you focused. Third, when the time comes to pay it back try to pay more than just, the minimum amount due.
The class of 2013, according to a survey, faces an average of more than $35,000 in debt.
This story was featured on WICS on Monday, October 6, 2014.
Watch the video online.
Some students at the University of Illinois Springfield say they're racking up tens of thousands of dollars in debt each year.
According to Collegedata.com the average cost to attend a private college is more than $30,094. For in-state residents at public universities, it is $8,893. And the price tag for out-of-state residents attending public universities is $22,203.
Students struggling to manage their money and get an education are well aware of the financial strains it puts on them, and their families.
"Scared! I need to get a job, because I'm still applying for jobs right now." Said Infiniti Starks, a freshmen at the University of Illinois Springfield.
Another freshmen at the University of Illinois Springfield, Marvell Anderson also shares this cause for concern. "That's a lot of money. So I'm kind of scared, but at the same time I can't really focus on that," he said.
Those two students say they're focused on getting an education first, and then getting a job after graduation to pay off their student loans.
Here are three things, you can do, to keep your debt under control: First, don't borrow more money than you must. Remember, you have to pay it all back, at some point. Second, keep track of how much you owe. Knowing this will keep you focused. Third, when the time comes to pay it back try to pay more than just, the minimum amount due.
The class of 2013, according to a survey, faces an average of more than $35,000 in debt.
This story was featured on WICS on Monday, October 6, 2014.
Watch the video online.
Tuesday, September 9, 2014
U of I Board expected to OK more need based financial aid
The University of Illinois Board of Trustees is expected to approve more need-based financial aid than it does now by adopting a more flexible funding formula.
The university’s institutional aid is the money it gets mostly from student tuition that flows into need-based financial aid for students who cannot afford to pay full tuition.
The institutional aid has exceeded the amount that the university gets in either state or federal financial aid since the 2013 academic year. The most recent data available show that, in 2015, the university’s institutional-based financial aid is budgeted at $83.9 million, while state Monetary Award Program funding is estimated at $61.3 million and federal Pell Grant funding at $72.7 million.
That would mean a total of $217.9 million in fiscal year 2014 would be awarded to 26,000 undergraduate students on the university’s three campuses.
The amount of institutional need-based financial aid for fiscal year 2015 is estimated at $45 million at UI-UC, $38.5 million at UIC and $250,000 at UIS.
The article was featured in the Chicago Sun-Times on September 9.
Read the article online
The university’s institutional aid is the money it gets mostly from student tuition that flows into need-based financial aid for students who cannot afford to pay full tuition.
The institutional aid has exceeded the amount that the university gets in either state or federal financial aid since the 2013 academic year. The most recent data available show that, in 2015, the university’s institutional-based financial aid is budgeted at $83.9 million, while state Monetary Award Program funding is estimated at $61.3 million and federal Pell Grant funding at $72.7 million.
That would mean a total of $217.9 million in fiscal year 2014 would be awarded to 26,000 undergraduate students on the university’s three campuses.
The amount of institutional need-based financial aid for fiscal year 2015 is estimated at $45 million at UI-UC, $38.5 million at UIC and $250,000 at UIS.
The article was featured in the Chicago Sun-Times on September 9.
Read the article online
Tuesday, January 14, 2014
Filing for student financial aid early could mean more money
The race is on for students and their parents looking to secure college financial aid. Tax season is upon us, and that means it's time for college students to start thinking about filing the free application for student aid.
In order to qualify for Illinois’ Monetary Aid Program, or MAP grants, students must submit a FAFSA by March 1st. If college students don't meet that deadline they could be missing out on around $4,700 in aid that does not have to be repaid.
"If they file after April 1st then they may have limited chances to get funds that are campus based aid or institute funds because we award on a first come first serve basis. So the later they file the less their chances of getting free money," said Jerry Joseph, UIS director of financial assitance.
The story was featured by WICS-TV 20 on January 13, 2014.
Watch the story online
In order to qualify for Illinois’ Monetary Aid Program, or MAP grants, students must submit a FAFSA by March 1st. If college students don't meet that deadline they could be missing out on around $4,700 in aid that does not have to be repaid.
"If they file after April 1st then they may have limited chances to get funds that are campus based aid or institute funds because we award on a first come first serve basis. So the later they file the less their chances of getting free money," said Jerry Joseph, UIS director of financial assitance.
The story was featured by WICS-TV 20 on January 13, 2014.
Watch the story online
Tuesday, June 11, 2013
College students fear possible interest rate hike
The clock is ticking for college students across the country who are anticipating a possible hike in student loan interest rates.
The rate hike is scheduled to kick in on July 1.
It would double interest rates on students with subsidized Stafford loans from 3.4 percent to 6.8 percent. If Congress fails to come to an agreement, students with subsidized Stafford loans would have to pay nearly $1,000 more in interest over the life of their loan.
UIS Financial Aid Associate Director Carolyn Schloeman said the possible interest rate hike most likely won't impact future students' decisions to go to college.
"At this point, a lot of them already committed, they made their plans, and they kinda already had an idea about how they are going to pay their education for this upcoming year," said Schloeman. "They have already made their plans and got everything together, so I don't see it being a huge impact."
Shloeman said currently the interest rates are fixed on all subsidized and unsubsidized loans. Therefore, if Congress doesn't come to an agreement by July 1 of this year, only students who take out loans after the first will be affected by the higher interest rates.
It would double interest rates on students with subsidized Stafford loans from 3.4 percent to 6.8 percent. If Congress fails to come to an agreement, students with subsidized Stafford loans would have to pay nearly $1,000 more in interest over the life of their loan.
UIS Financial Aid Associate Director Carolyn Schloeman said the possible interest rate hike most likely won't impact future students' decisions to go to college.
"At this point, a lot of them already committed, they made their plans, and they kinda already had an idea about how they are going to pay their education for this upcoming year," said Schloeman. "They have already made their plans and got everything together, so I don't see it being a huge impact."
Shloeman said currently the interest rates are fixed on all subsidized and unsubsidized loans. Therefore, if Congress doesn't come to an agreement by July 1 of this year, only students who take out loans after the first will be affected by the higher interest rates.
Friday, January 4, 2013
MAP grant priorities change
Tens of thousands of students in our state depend on it to help pay for college. But whether they will able to continue to take advantage of it could change. It is the result of rising tuition fees, increased demand for financial aid and less money available to give out.
The Monetary Award Program Task Force spent six months reconstructing the way MAP grant funding will be prioritized. It is an effort to boost the education level of the general population and close the achievement gap.
Samaia Ahmad is one of tens of thousands of students statewide depending on a MAP grant to get through college. The junior at the University of Illinois Springfield works two jobs and gets $4,000 a year through MAP.
"So that's a quarter of my tuition, which is great," Ahmad said. Without that money, life would be different. “Probably two or three other jobs it would add, or less classes I would have to take instead," Ahmad said.
Ahmad was featured by WICS-TV 20 on January 3, 2013.
Watch the story online
The Monetary Award Program Task Force spent six months reconstructing the way MAP grant funding will be prioritized. It is an effort to boost the education level of the general population and close the achievement gap.
Samaia Ahmad is one of tens of thousands of students statewide depending on a MAP grant to get through college. The junior at the University of Illinois Springfield works two jobs and gets $4,000 a year through MAP.
"So that's a quarter of my tuition, which is great," Ahmad said. Without that money, life would be different. “Probably two or three other jobs it would add, or less classes I would have to take instead," Ahmad said.
Ahmad was featured by WICS-TV 20 on January 3, 2013.
Watch the story online
Tuesday, November 6, 2012
Issues key to turnout of young voters
While many of Springfield’s teenagers are forced to sit out on Election Day, they’re wholly vested in who Americans will send to the White House.
On top of a job shortage, many teenagers are headed to college and are concerned about student loans.
Students are right to be concerned, said Gerard Joseph, director of financial assistance at the University of Illinois Springfield. State funds have been stagnant, he said, and students have to apply earlier and earlier to try and access help from Illinois’ Monetary Assistance Program.
“You’ve got more students trying for the same pool of dollars,” Joseph said.
High school respondents also ranked quality of college education, elementary and high school education, and war, Iraq, Afghanistan and terrorism as their other leading concerns.
Joseph was featured by the State Journal-Register on November 4, 2012.
Read the article online
On top of a job shortage, many teenagers are headed to college and are concerned about student loans.
Students are right to be concerned, said Gerard Joseph, director of financial assistance at the University of Illinois Springfield. State funds have been stagnant, he said, and students have to apply earlier and earlier to try and access help from Illinois’ Monetary Assistance Program.
“You’ve got more students trying for the same pool of dollars,” Joseph said.
High school respondents also ranked quality of college education, elementary and high school education, and war, Iraq, Afghanistan and terrorism as their other leading concerns.
Joseph was featured by the State Journal-Register on November 4, 2012.
Read the article online
Wednesday, October 24, 2012
Lt. Governor calls for college affordability
University of Illinois Springfield sophomore Nekira Cooper is putting herself through school by piecing together grants, loans, a scholarship, a part-time job off campus and a federal work study.
She’s not alone. Statistics show the cost of higher education increases every year. That is not true of people's incomes.
“It did have to come out of pocket a little because financial aid did not cover all of it,” UIS senior Kyle Palmer said.
Lt. Gov. Sheila Simon is on a mission to keep Illinois' colleges affordable so students who are educated at places like UIS can go on to compete with the rest of the world.
“When I was a kid we talked about competing against Indiana," Simon said. "Now we need to be able to compete against India."
The Monetary Award Program is one option for students in need, but with budgets being squeezed every which way, those are not as readily available.
Simon's appearance at UIS was featured by WICS-TV 20 on October 23, 2012.
Watch the story online
She’s not alone. Statistics show the cost of higher education increases every year. That is not true of people's incomes.
“It did have to come out of pocket a little because financial aid did not cover all of it,” UIS senior Kyle Palmer said.
Lt. Gov. Sheila Simon is on a mission to keep Illinois' colleges affordable so students who are educated at places like UIS can go on to compete with the rest of the world.
“When I was a kid we talked about competing against Indiana," Simon said. "Now we need to be able to compete against India."
The Monetary Award Program is one option for students in need, but with budgets being squeezed every which way, those are not as readily available.
Simon's appearance at UIS was featured by WICS-TV 20 on October 23, 2012.
Watch the story online
Monday, October 8, 2012
Susan Koch: College education worth the investment
The following is part of an op-ed written by UIS Chancellor Susan J. Koch. It was published in a October 7, 2012 edition of the State Journal-Register.
"As I walked through Chicago’s Union Station several days ago, this Newsweek headline caught my eye: 'Is college a lousy investment?'
The article, by a Washington, D.C.-based journalist and blogger, cites familiar data. 'The price of a college education has doubled since 1995.' 'The amount of student loan debt has more than quintupled since 1999.' The author concludes that investing in a college education may not be worth it for an increasing number of young people today.
As a university chancellor, I share the author’s concern about increasing college costs, and we’re providing more financial aid and scholarships at the University of Illinois Springfield to make college more affordable; but despite our shared concerns I am moved to a conclusion that differs from the Newsweek writer."
Read the full editorial online
"As I walked through Chicago’s Union Station several days ago, this Newsweek headline caught my eye: 'Is college a lousy investment?'
The article, by a Washington, D.C.-based journalist and blogger, cites familiar data. 'The price of a college education has doubled since 1995.' 'The amount of student loan debt has more than quintupled since 1999.' The author concludes that investing in a college education may not be worth it for an increasing number of young people today.
As a university chancellor, I share the author’s concern about increasing college costs, and we’re providing more financial aid and scholarships at the University of Illinois Springfield to make college more affordable; but despite our shared concerns I am moved to a conclusion that differs from the Newsweek writer."
Read the full editorial online
Friday, January 13, 2012
Consider this before you pay for an online degree
For busy folks seeking a college or graduate degree, online education may seem like an attractive route that can cater to their lifestyles. Professionals with full-time jobs, for instance, may welcome the ability to squeeze in classes after work or on lunch breaks, while parents juggling kids' schedules can coordinate their learning around elementary school pickups and soccer practices.
There tend to not be as many scholarships for online learners as there are for traditional learners, but some opportunities do exist. Institutions including the University of Illinois--Springfield report to U.S. News that they offer scholarships, grants, fellowships, or assistantships to distance learners.
Online learners with financial need are also eligible for federal grants such as the Pell, which funds up to $5,550 a year for the neediest students. Just like traditional students, distance learners must complete the FAFSA in order to receive any federal aid. The 2012-2013 version has been available since January 1.
UIS online scholarships were featured in an January 13, 2012, article by the Huffington Post.
Read the article online
There tend to not be as many scholarships for online learners as there are for traditional learners, but some opportunities do exist. Institutions including the University of Illinois--Springfield report to U.S. News that they offer scholarships, grants, fellowships, or assistantships to distance learners.
Online learners with financial need are also eligible for federal grants such as the Pell, which funds up to $5,550 a year for the neediest students. Just like traditional students, distance learners must complete the FAFSA in order to receive any federal aid. The 2012-2013 version has been available since January 1.
UIS online scholarships were featured in an January 13, 2012, article by the Huffington Post.
Read the article online
Tuesday, September 21, 2010
A growing number of grads can't afford to pay back loans
The number of borrowers defaulting on their student loans is at a ten year high.
According to data recently released by the U.S. Department of Education. Seven percent of students who took out loans to pay for college defaulted between October 2008 and September 2009. The jump in student loan defaults comes at the same time unemployment amongst degree holders skyrockets from 1.8 percent in 2006 4.7 percent in 2009. A scary reality for those who will soon be heading out into the real world.
UIS Financial Assistance Director Gerard Joseph and graduate student Anthony Thomas-Davis are interviewed in this September 20, 2010, report by WICS-TV 20.
Watch the story on News Channel 20's website
According to data recently released by the U.S. Department of Education. Seven percent of students who took out loans to pay for college defaulted between October 2008 and September 2009. The jump in student loan defaults comes at the same time unemployment amongst degree holders skyrockets from 1.8 percent in 2006 4.7 percent in 2009. A scary reality for those who will soon be heading out into the real world.
UIS Financial Assistance Director Gerard Joseph and graduate student Anthony Thomas-Davis are interviewed in this September 20, 2010, report by WICS-TV 20.
Watch the story on News Channel 20's website
Friday, July 16, 2010
More students denied MAP grants
Tens of thousands of Illinois college students have one less resource to pay for school. The Illinois Student Assistance Commission says over 58,000 students have been denied MAP grants.
The commission estimates more than four times that many will be denied this upcoming school year.
For many students like UIS senior Charles Olivier it's one of their main ways to pay for school.
The grants range from $300 to $5000. Denials started in April, the earliest they ever have this year. The $400,000,000 in grants was gone. Leaving students scrambling to find a way to pay.
Olivier was interviewed by WICS-TV 20 in a July 15, 2010, report.
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