Federal and State Programs, Scholarships, and Tuitions Rates
The Financial Assistance Department is available to all students in a program attending Midstate College. Financial assistance is available for all income levels. Federal and State Financial Aid was created to help individuals with costs related to attending school, not to increase the standard of living or provide assets unavailable to the individual through his or her current income situation. Any students interested are encouraged to contact the Financial Assistance Office to schedule an appointment to discuss their eligibility.
The Financial Assistance Office makes every effort to assist students who need financial help while attending college. Students and their families are encouraged to visit the Financial Assistance Office to determine eligibility for state and federal programs. These programs are briefly outlined in the following paragraphs.
State of Illinois Programs
Monetary Award Program (MAP)
This program provides need-based grants for undergraduate students to help pay tuition. The student must meet Illinois residency requirements. Students apply for the MAP grant when they complete the Free Application for Federal Student Aid (FAFSA) form. Eligibility restrictions apply to students who file their FAFSA after application deadlines established each year by the Illinois Student Assistance Commission. Award amounts and established deadlines for this grant are subject to change based upon state appropriations.
Federal Pell Grant Program
The Federal Pell Grant is an award for undergraduate students. Eligibility is determined by the Department of Education using a standard formula to evaluate the information submitted on the Free Application for Federal Student Aid (FAFSA). The amount of the Federal Pell Grant award varies from year-to-year depending on annual government appropriations and student eligibility.
Federal Supplemental Educational Opportunity Grant Program (SEOG)
The Federal Supplemental Educational Opportunity Grant is for undergraduate students with exceptional financial need. Priority is given to Federal Pell Grant recipients when awarding this grant. The maximum Federal SEOG award a Midstate student can receive varies according to award year allocations and the number of classes for which the student is scheduled.
Federal Work Study Program (FWS)
This program provides jobs for students who need financial help. FWS gives students a chance to earn money to help pay for their educational expenses. Like other Federal programs, students must demonstrate financial need to be considered for employment opportunities. Work hours are usually limited to 10 hours per week per student. Positions are available both on- and off-campus. Positions off-campus are limited to non-profit organizations performing a service in the community.
Direct Loan Program (Subsidized)
The Direct Loan Program provides a maximum loan of $3,500.00 per academic year during the student's freshman level and $4,500.00 per academic year for the sophomore level. Junior and senior loans are available at a maximum of $5,500.00 per academic year. The eligibility to receive this loan is determined by completion of the FAFSA. The student must be attending at least half-time. Application forms are available through the Financial Assistance Office. The Financial Assistance Office will determine each student's eligibility for loan amounts based on the cost of attendance and the amounts of other financial aid available to the student.
Direct Loan Program (Unsubsidized)
This loan program is for borrowers who do not show need for interest subsidies under the existing Direct Loan Program. Terms and conditions are the same as the subsidized Direct Loan Program except the Federal government pays no in-school interest subsidy. Like the subsidized loan, applications are available through the Financial Assistance Office.
Direct PLUS Loan Program
Direct PLUS loans are for parents who want to borrow to help pay for their dependent child's education. The Financial Assistance Office can supply interested students or their parents with more information and applications for this loan program.
Other financial aid is available through scholarships offered by community and civic organizations, as well as private businesses and corporations. As these scholarships become available, the Financial Assistance Office will make announcements regarding amounts and eligibility requirements. Students are also encouraged to investigate scholarship opportunities available in their own communities and use Internet-based scholarship searches. Midstate College also works closely with many county and state agencies that provide financial assistance to students who qualify under the guidelines of each individual agency.
- Alumni Scholarship
- Entrance Exam Excellence Scholarship
- First Time Full Time Scholarship
- High School Scholarship
- Merit Transfer Scholarship
G.I. Bill of Rights
Selected degree and diploma courses are approved for training under the G.I. Bill by the State Approving Agency. Veterans with disabilities are accepted upon recommendation of the veteran's counselor.
Contact the Financial Assistance Department
If you have any questions please contact the Financial Assistance Office at:
Attn: Financial Assistance
411 W. Northmoor Road
Peoria, IL 61614-3558
Toll Free: 1.800.251.4299