Financial Aid FAQ

You should apply for financial aid after October 1st of the prior year you plan on attending college. You only have to apply for financial aid one time per school year but you have to apply every year that you remain in school. You can complete the FAFSA at any time during the school year, however, there are deadlines that can eliminate you from eligibility for certain grants and scholarships.

Approximately 4 weeks after sending your FAFSA to the processor, you will receive a Student Aid Report (SAR). Review your SAR for any errors and if it is correct, contact the Office of Financial Aid & Veterans’ Affairs. If corrections are needed, make corrections on Part 2 of the SAR and send it back to the processor, or log into and make corrections to your Free Application for Federal Student Aid (FAFSA) online at https://studentaid.gov/. You should receive a corrected SAR within two weeks. Once you receive an accurate SAR, do NOT mail it back to the processor, it is for your records. If you listed Kaskaskia College first on your application, your information will be electronically submitted to the Office of Financial Aid. If you plan to attend and did not list Kaskaskia College first on your application, you should make a school change by logging into your FAFSA online and making corrections to the School Selection Section. Some applications are selected for a process called verification. You will be informed of your selection on your Student Aid Report and the Estimated Family Contribution (EFC) number on your SAR may be flagged with an asterisk (*). If conflicting or inconsistent information appears your SAR you will also be selected for verification by the Office of Financial Aid. If your form is selected for verification you will be required to complete a verification worksheet and submit copies of your income tax returns as well as documentation of non-taxable income and assets and other required information that will be outlined on the notice you will receive from the Office of Financial Aid.

After your financial aid file is complete, the Office of Financial Aid will send you an Award Letter outlining the types and amounts of aid for which you are eligible. The Award Letter is based on full-time enrollment and will be adjusted according to your enrollment at the end of the two-week drop/add period for each semester. Read your Award Letter very carefully. If you have any questions or concerns regarding your Award Letter, contact the Office of Financial Aid.

You can earn money to be used for paying educational costs through Federal Work Study and Student Aid opportunities. Federal Work Study positions are funded by the federal government and are awarded based on financial need. Eligible students work part time up to 20 hours per week. If deemed eligible by your FAFSA, you only need to enroll in 6 credit hours in the fall and spring and 3 credit hours in the summer to qualify to work in a student worker position. Submit your resume at Simply Hire now!

Kaskaskia College does not participate in the Federal Direct Loan program. However, if you already have received a Direct Loan in the past or from another institution and need to complete mandatory exit counseling, please follow this link https://studentaid.gov/exit-counseling/. You must complete exit counseling if you have graduated, withdrawn or dropped below 6 credit hours and have previously taken out a Federal Direct Loan.

Student loans are offered through the preferred lenders, Sallie Mae Student Loans and Commerce Bank. You may also borrow from private banks and other lending institutions if you prefer. The interest rates, repayment options, and terms may vary depending on which lender you choose to use. You may also need to provide a credit worthy co-signer in order to qualify for a student loan or to receive a lower interest rate through one of these preferred lenders.

1. Steps to apply for an Outside Loan
   • Choose a lender
   • Sallie Mae Student Loans
   • Commerce Bank
   • College Ave 
   • PNC Bank
   • Students may also seek out private banks or lending institutions of their choice, in this scenario however, the loan funds would be sent directly to the student and not through Kaskaskia College. Examples of other private lenders could include US Bank, First National Bank, GTSB Bank, FCB Bank etc.
2. If you are a first-time borrower with Kaskaskia College, you will need to review the first-time loan seminar after being approved for a student loan.
3. Follow up with Financial Aid Office to make sure your loan was certified. Please call 545-3080 or email kcfinaid@kaskaskia.edu.
   
   

The family information you provide on the Free Application for Federal Student Aid (FAFSA) is calculated by the federal government’s comprehensive formula. This formula determines the amount you and your family can afford to contribute to educational costs and is considered the Expected Family Contribution (EFC). The EFC is then subtracted from your total Cost of Attendance, which includes tuition, room and board, and an estimate of personal expenses and transportation. Some of the items calculated in the Cost of Attendance are not directly charged to you by the school, i.e., room and board, transportation, etc., but are estimates of personal living costs. The remaining amount is your financial need, which becomes the basis for the financial aid award.