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Need-Based Grants

A grant is usually awarded based on “financial need” and does not need to be repaid. Grants come from several sources including the College, some states, and the federal government. Grants listed below are the most common programs available to U.S. citizens and permanent residents.

To apply for a grant, you must complete the Free Application for Federal Student Aid (FAFSA) each year. Follow the appropriate link for information for students from Canada and other foreign countries.

Lake Forest College Grant

This grant, provided directly from the College, is available only to full-time students. Most students who qualify for financial aid can expect a substantial amount of their need to be met by a Lake Forest College Grant. While most eligible students receive grants ranging from $1,000 - $20,000 for a year, grants of varying amounts are made based on your individual circumstances, application and eligibility. 

Lake Forest Cornerstone Grant

This grant is awarded to students who show distinct potential and character. It is not based on financial need.

Lake Forest Founders Grant

This grant is awarded to students who show “financial need” as determined by the College. 

Federal Pell Grant

This federal grant is awarded to both full- and part-time students with exceptional financial need. Awards range from $650 - $6,100. Must be a U.S. citizen or permanent resident.

Federal Supplemental Educational Opportunity Grant (FSEOG)

This federal grant is awarded to students with exceptional financial need, with most awards going to students who are Pell Grant recipients. At Lake Forest, most awards are in the amount of $1,000 for a year.  

Illinois Monetary Award Program (MAP) Grant

This state grant is awarded to Illinois residents who attend an approved Illinois college/university, and meet the “need” requirements. The maximum grant is currently $5,340. The Illinois Student Assistance Commission (ISAC) administers this and other state grants. Together with ISAC our Office of Financial Aid determines if you are eligible for the grant. The FAFSA must be submitted before the deadline announced by ISAC to be considered.

The following applies to the 2020-2021 academic years: By applying for financial aid and agreeing to share that information with the Illinois Student Assistance Commission (ISAC) you have been considered for the State of Illinois (IL) Monetary Award Program (MAP) Grant. All MAP-approved institutions are required by the State of Illinois to announce MAP Grant awards to students who are enrolled or intending to enroll at their institution. An award amount is included in your financial aid package if you have met the eligibility criteria.
 
The MAP Grant award amount is an estimate made by the financial aid office and is identified as a "State of IL MAP Grant (Est)." Please be aware that the number of available MAP Grants is limited by funding levels approved by the Illinois General Assembly and the Governor, and reductions to estimated or actual MAP Grants are possible.
 
There are also limitations to how long you can continue to receive a MAP Grant. Usage is tracked by the number of credit hours for which you’ve received MAP benefits and is referred to as MAP Paid Credit Hours (MPCHs). The maximum number of MPCHs that can be received is 135, which is equivalent to approximately four and a half years of full-time enrollment. For your reference, and to learn more about MPCH limitations, you may access a record of your MPCHs through the ISAC Student Portal at https://studentportal.isac.org/MPCH

Other State Grant Programs

There are currently just a a few states - Pennsylvania, Rhode Island and Vermont for example- that offer funds which can be used at an out-of-state college/university. If you are a resident of one of these states, and meet the requirements (set by each state) the funds may be used here at Lake Forest. Since the grants are awarded by the states themselves, contact the higher education agency in your home state to learn more.

Outside Sources of Funding

Your ability to secure outside funding is always advantageous. For that reason you are encouraged to apply for national, state, and local grant that you may be eligible to receive. Funds are awarded at various levels by businesses, churches, civic organizations, and foundations. Visit our outside scholarships webpage page for examples of funding available.

If you do receive assistance from another source, we may be required to reduce other funds you have been offered.

Grants and Scholarships from the College usually require full-time enrollment, while federal and state grants may also be used for part-time enrollment. They do not need to be repaid, and will appear on your billing statement without further action after confirming your enrollment. College Grants (and most federal and state grants) may be used in the fall and spring semesters, and may be used for many off-campus programs. An annual application is required. Eligibility continues until graduation requirements have been completed, to a maximum of six years. 

We make a considerable effort to keep your grant aid at a similar level from one year to the next. There are, however, many factors which determine eligibility for need-based aid, including: the number of people in your household, the number of household members in college, taxable and untaxed income, and any “special circumstances” you ask us to consider. Changes in any of these categories from one year to the next may affect the grant aid you receive in subsequent years.

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