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The Financial Aid Process for Returning Adults & Paying for College for Anyone

April 8, 2010
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Janetta Clemons, Outreach Program Coordinator from the Illinois Student Assistance Commission presented the financial aid workshop, The Commission administers financial aid for Illinois and their goal is to make college accessible and affordable for all Illinois students.

The more education an individual has the less likely they are to unemployed or stay unemployed. A handout was provided to the students regarding the unemployment rate and earnings in relationship to the level of education obtained.

There are two basic types of financial aid. The “Gift Aid”, which includes grants and scholarships and “Self Help Aid”, which includes work-study and loans. These funds may be merit-based, need-based, or non- need based. Financial aid comes from a variety of sources: Federal, State, College Institutional and Outside/Private Sources.

The first step to apply for federal and state assistance is to complete the Free Application for Federal Student Aid (FAFSA). This application process can be completed electronically at fafsa.ed.gov, on paper or PDF FAFSA. The electronic method is the quickest with a 3 –5 day turn-a-round time.

More information is also available through the web site http://www.collegezone.com.