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Financial Aid News
The application for summer 2013 financial aid is now available. Students must have registered and enrolled for summer classes prior to completing the application. The last day an application will be accepted is June 14, 2013.
Registration for the Summer 2013 and Fall 2013 semester is ongoing. Please refer to the Records and Registration website for additional details. If you have a financial hold that prevents you from registering, please contact University Student Financial Services and Operations (USFSCO) to get an explanation of the hold.
You can get an estimate of your Summer 2013 and Fall 2013 charges for tuition, fees and assessments by accessing the tuition calculator at http://uisapp.uis.edu/tuition/calculator.aspx?semester=20138. Please contact Records and Registration if you have any questions with regards to tuition, fees and assessments.
The time to apply for financial aid for the 2013-2014 academic year (Fall 2013, Spring 2014 and Summer 2014) is now by completing the Free Application for Federal Student Aid (FAFSA). The Office of Financial Assistance encourages all students to apply as early as possible to avoid missing any grant opportunities. Our Federal School Code is 009333.
You will need information from your (and your parent's) 2012 federal tax return but those tax returns do not need to have been filed with the IRS for you to be able to complete and submit the FAFSA. If you filed the FAFSA last year for the 2012-2013 academic year, please just update the information and submit the FAFSA today if you have not already done so. You will find additional information and tips on how to apply and how you can submit your FAFSA application for 2013-2014 by clicking here.
The US Department of Education has instituted some changes to the FAFSA process. Applicants are encouraged to use the IRS Data Retrieval process functionality within the FAFSA application. When completing the income sections of the FAFSA, the applicant is given the option to have this data retrieved directly from the IRS. If you have already completed your Federal Tax Return for 2012, please complete the IRS Data Retrieval process to transfer your 2012 Federal Tax Return information onto the FAFSA. The benefit of utilizing the IRS Data Retrieval process is that it will minimize your chances of being selected by the federal processor for the verification process. Follow the IRS Data Retrieval process directions on the FAFSA to complete the process. This is our preferred method.
1098T tax forms are now available on-line for students to access at http://paymybill.illinois.edu/Understanding1098T. If you have any questions, please contact University Student Financial Services and Cashiers Operations (USFSCO) at (217) 206-6727.
The Illinois Student Assistance Commission (ISAC) announced on the afternoon of February 28, 2013 that it was suspending the announcement of 2013-14 Monetary Award Program (MAP) grants for all students whose initial 2013-14 Free Application for Federal Student Aid (FAFSA) is received by the Central Processing System (CPS) on or after Saturday, March 2, 2013. The March 2 suspension date, which is the earliest in MAP history, is the result of continuing state budget difficulties and an unprecedented number of early applicants.
The application for the 2013-2014 Children of Veteran Tuition Waiver is now available. The award is a four-year tuition waiver at the University of Illinois awarded to natural or legally adopted children of service members. Please see the application form for eligibility requirements and additional details. Priority deadline was March 1, 2013.
Spring 2013 financial aid disbursements/refunds started occuring on an ongoing basis as of January 11th, 2013. Please click on the “Check Your Financial Aid Status” link to the left to review your financial aid file status, as well as your student account summary and your E-bill via the Student Self-Service. Refunds will be direct deposited to your bank account by University Student Financial Services and Cashiers Operations (USFSCO). Direct deposit is mandatory for all student account refunds. If you have not already signed up, go to the USFSCO website for information on enrolling in direct deposit. An e-mail will be sent to your official university e-mail account once the refund has been processed.
The deadline for processing financial aid for the Fall 2012 semester is November 15, 2012; the Spring 2013 semester is April 15, 2013; the Summer 2013 semester is June 15, 2013. Please submit all required financial aid documents to our office prior to these dates. Applications received after these dates may not be processed.
Effective beginning the 2012-2013 award year a student’s eligibility for receiving the Federal Pell Grant will be limited to 12 full-time semesters (or its equivalent). This change applies to all Federal Pell Grant eligible students. It is not limited to students who received their First Federal Pell Grant on or after 2008-2009 award year. The Department of Education will calculate the Pell Grant duration for a student by adding together each annual percentages of a student’s scheduled award that was actually disbursed to the student. For example, a student whose 2011-2012 Federal Pell Grant award was $5,550, but who received $2,775 because she was only enrolled for one semester, will have used 50% of that award year’s schedules award. Similarly, a student who was enrolled three quarter time (9 credits) for the 2011-2012 award year would have used 75% of their scheduled award. A more detailed explanation is available at www.studentaid.ed.gov/Pell-Limit.
The Budget Control Act of 2011 was signed into law on August 2, 2011. Effective July 1, 2012, graduate and professional students will no longer receive the Federal Direct Subsidized Loan. As a result, graduate and professional students will only be awarded the Federal Direct Unsubsidized Loan. The annual limit, however, does not change.
Effective, July 1, 2012, the up-front rebate that has been provided to Direct Loan borrowers at the time of their loan disbursement will no longer be offered. As a result, the origination fee for the Direct Stafford Loans will be 1.0% and the origination fee for the Direct PLUS Loans will be 4.0%.
The federal regulations governing the verification process, whereby schools are required to confirm that the data on the student's FAFSA is accurate, has changed for the 2012-2013 academic year. Student are encouraged to review these verification changes as this process may impact the timely receipt of their financial aid proceeds.
New and returning students applying for financial assistance will receive their financial aid award letters electronically. You will be notified that your e-award is ready to be viewed via an e-mail to your official UIS e-mail address, as well as any other e-mail addresses we may have on file for you. As such, it is extremely important to verify that your email account(s) are valid. Furthermore, you should be checking your official UIS email account regularly, at least once a week, for updates on your financial aid status and other important financial aid notifications or billing information. You will then be able to access your E-Award Letter by clicking on the “Check Your Financial Aid Status” link. Students will no longer receive paper award letters.
Office of Financial Assistance
University Hall, Room 1015
One University Plaza
MS UHB 1015
Springfield, IL 62703-5407