Welcome to Financial Aid

Thank you for visiting the Financial Aid webpage for Spoon River College (SRC). SRC participates in federal and state programs to assist students in meeting the costs of higher education. Financial assistance is available in the form of grants, scholarships, work opportunities, and loans.  Click on the Net Price Calculator to determine your estimated family contribution and net price of attendance. Many of SRC's students live at home with their parents, reducing their cost to attend college by about $6,000 per year.

Priority Processing Deadlines

• FALL 2013 - June 15, 2013
• SPRING 2014 - November 1, 2013
• SUMMER 2014 - April 1, 2014

The Financial Aid Office cannot guarantee that financial aid will be in place by the tuition due date if you do not submit all requested information and supplemental forms by the priority processing deadlines. The Financial Aid Office will continue processing applications after the priority processing deadline but, cannot guarantee that aid for forms received after the deadline will be in place by the tuition due date. In order to ensure classes will be held, students may set-up a payment plan through FACTS by accessing their My SRC account.

Upcoming Events

Requests for documents needed to determine eligibility for 2013-2014 have been mailed.  Please read the letter carefully and follow the directions for downloading any needed forms from your MySRC account.  We have included a new notification for every student about the Pell Lifetime Eligibility (more information below) with our request for documents.  It is very important for all students to be aware of the limits in funding from the beginning of their college career.

PELL LIFETIME ELIGIBILITY

The amount of Federal Pell Grant funds a student may receive over his or her lifetime is limited by a new federal law to the equivalent of six years of Pell Grant funding.  Since the maximum amount of Pell Grant funding a student can receive each year of full time enrollment is equal to 100%, the six-year equivalent is 600%

As of mid-July 2012, you can log on to the National Student Loan Data System (www.nslds.ed.gov) Student Access Website using your Federal Student Aid PIN and view your Lifetime Eligibility Used (LEU).  The LEU will be found on the Financial Aid Review page.

Completing the FAFSA

The Financial Aid process at Spoon River College is an annual activity beginning January 1 for the following academic year (fall, spring, and summer). The Free Application for Student Aid is required for all federal aid, including grants, Stafford student loans, and work study as well as the Illinois Monetary Award Program (MAP). The FAFSA is a free application, you should never have to pay a fee to submit your information.

1. Fill out an Admissions Application for SRC
2. Submit an official HS transcript or GED scores
3. Complete the FAFSA (Free Application for Federal Student Aid)

Gather the documents you need:

• Your SS#, DL#, W-2's, Federal Income Tax return, parent's Federal Income Tax return (if required), parent's W-2's (if required), and any additional untaxed income such as veteran's benefits, child support, and worker's compensation.

Apply for a PIN:

• A PIN (Personal Identification Number) is a four-digit number used in combination with your SS# and date of birth to identify you as someone who has access to your own personal information. You, along with your parents (if required) will use your PIN to sign your FAFSA. Note: Your parents must also apply for a PIN, used to sign their portion of your FAFSA (if required).

Print a FAFSA on the Web Worksheet:

• The FAFSA on the Web Worksheet allows you to read and complete the questions before entering your information online.

Apply Early. Some funds are limited, and the sooner you file the more financial aid you could potentially receive.