Procedures for Students to Apply for Financial Aid
- The first step in applying for all types of Financial Aid requires the student to complete the Free Application for Federal Student Aid (FAFSA). Student Completes the FAFSA, on the web at http://www.fafsa.gov/. Students wishing to complete the paper version of the FAFSA may request a copy by calling 1-800-394-7084 or online at www.fsapubs.gov. This should be done no later than MARCH 1st each year if you are a SVCC Student. This helps to ensure that the student meet all federal, state and institutional deadlines. To be eligible for Financial Aid, a student must meet the following requirements
A) a citizen of the United States or permanent resident,
B) enrolled in a program at SVCC that leads to a degree or certificate, and
C) maintain satisfactory academic progress toward completion of their academic program.
This is not a comprehensive list of eligibility requirements. Please check with our office to confirm that you meet eligibility criteria.
- School receives an electronic version of your FAFSA application after submission, if SVCC's Federal School Code (001752) was indicated on the FAFSA.
- The SVCC Office of Financial Assistance will review the students application and mail/e-mail* a Document Request Letter, with documents to complete, sign and return to the office. Students who are chosen to be a verification either by the Department of Education, or the SVCC Office of Financial Assistance, will be required to provide additional documents which may include taxes, W2s or other items. Students chosen for verification should review the SVCC Verification Policies and Procedures. All items must be returned within 30 days from the date of the letter. This will ensure timely processing of the students financial aid.
- Once the SVCC Office of Financial Assistance receives the completed and signed documents from the student, the application and documents are reviewed by office staff. Verification documents will be used by the Office of Financial Assistance to make corrections to a student's application if required. After the review process is complete, an Estimated Award Letter will be generated and mailed/e-mailed* to the student, explaining estimated full-time awards. In the event that a student's EFC changes the student's eligibility for Title IV aid at a later date, the student will be e-mailed a new Estimated Award Letter. At this time, if the student has any questions about his/her aid package, he/she is welcome to visit or call (815-835-6339) the Office of Financial Assistance.
- When a student registers for classes at SVCC for Fall/Spring, his/her financial aid will automatically be applied to his/her account on a weekly basis. When registering for Summer courses students must contact the Office of Student Financial Assistance in order for any eligibility to be applied. Any award applied to the student's account will also automatically deduct any charges incurred at SVCC, including tuition, course fees, book charges, etc.
- If, after all financial aid is processed, the student still has a balance (money owed) on his/her account, he/she must contact the SVCC Business Office (815-835-6267) to make payment arrangements, such as a Deferred Payment Plan.
- Approximately 7-10 days before classes begin for the term, students may charge against their remaining financial aid to purchase books and supplies in the SVCC Campus Bookstore. For the exact date when students may use their financial aid towards book purchases, please contact the SVCC Campus Bookstore at 815-835-6304.
- Generally it can take anywhere from 2 to 6 weeks for the federal government to process your FAFSA, depending on the method in which it is submitted. During this processing time, the SVCC Office of Student Financial Assistance will not have any information on whether or not you are eligible for aid. SVCC students need to complete the FAFSA early enough to allow for this processing time if they are planning on using financial aid to pay for their education.
*Starting with the 2008-2009 academic year all correspondence after you receive your initial award letter will be through the student’s SVCC provided e-mail address. Every student at SVCC will have an e-mail account created within 48 hours of their registration. The naming convention for your e-mail account is first name dot middle initial dot last name @ students.svcc.edu (email@example.com). To enter your e-mail account the password will be sv and the last four digits of your Student ID Number using no spacing (sv0000). You will be required, after entering the account for the first time, to change your password. Please visit http://www.svcc.edu/ and choose ‘Student Email’ from the dropdown box labeled ‘Online Services’ for more information. If you encounter problems entering your SVCC e-mail address you may request assistance by calling the Information Technology Center at 1-815-835-6229.
Don't want to wait 4 to 6 weeks to hear back from the paper version? Then try The Online FAFSA
There are two basic types of financial aid: gift aid and self-help aid. Gift Aid is assistance you receive that does not have to be repaid such as scholarships and grants. Self-Help Aid includes work opportunities and loans. It's called self-help because you take responsibility for receiving this type of aid. Work-Study allows you to earn money while you are in college. Students Loans assist students with educational expenses while in college.
State Sponsored Financial Aid Programs (ISAC)
- Monetary Award Program (MAP)
- The State of Illinois provides an opportunity for all Illinois residents to receive an award for tuition and approved fees. The amount of the award is based upon financial need as computed by the Illinois Student Assistance Commission. Students enrolled for at least three credit hours of undergraduate study are eligible for the program. The monetary award is not based upon academic achievement, test scores, or high school rank. No repayment is required. Early application for the Illinois Student Assistance Commission Monetary Award is encouraged. Apply using the Free Application for Federal Student Aid.
- Illinois Veterans Grant (IVG)
- Illinois veterans who served one year of active duty, received an honorable discharge, were residents of Illinois six months before entering and returned to Illinois within six months of discharge, and are currently residents of Illinois may have their tuition and approved fees paid for. Please visit the Veterans Services portion of our website for more information.
- Illinois National Guard
- Must be currently inthe Illnois Army or Air National Guard and have served for at least one year in the Illinois Army or Air National Guard. Any recipient under this program is entitled to payment of tuition and approved fees. Iowa residents who are active members of Illinois National Guard are eligible to receive the grant. Students must apply annually for the grant. Please visit the Veterans Services portion of our website for more information.
For more specific information on these programs you can contact ISAC at 1(800) 899-4722 or visit their web site at www.isac.org.
Federally Sponsored Financial Aid
- Federal Pell Grants
- Students enrolled in an eligible program may apply using the Free Application for Federal Student Aid. Contact the Office of Financial Assistance or your high school counselor for further information on how to apply.
- Federal Supplemental Educational Opportunity Grants (FSEOG)
- Students with demonstrated need enrolled in eligible programs for at least three credit hours of study are eligible to apply. Award preference is given when all paperwork is completed in the Office of Financial Assistance by March 1.
- Federal Work-Study Program (FWS)
- The Federal government and the College provide funds for part-time employment opportunities for students who are enrolled as half-time students or more and who need financial assistance in order to attend college. Award preference is given when all paperwork is completed in the Office of Financial Assistance by May 15.
- Federal Direct Loan Program (subsidized and unsubsidized)
- Direct loans are available for students attending at least half-time at SVCC. Students must complete the Free Application for Federal Student Aid (FAFSA) first. Subsidized loans are based on financial need. Unsubsidized loans are not based on need. Applications are available online and in the Office of Financial Assistance.