Financial Aid Overview

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Federal student aid is financial help for students enrolled in eligible programs to cover school expenses called the Cost of Attendence (COA) which includes: tuition and fees, room and board, books and supplies, personal expenses and transportation. Many students wonder about what they will have to spend to attend CLC for an entire year as a full-time student. To help answer that question, the College has developed a budget for Dependent and Independent Students. Please note that there may be minor variations in these figures due to tuition increases or changes in federal guidelines.

Approximate Student Budget for Aid Year 2009-10
Dependent-Living with Parents
(Based on 9 months)
Tuition and Fees	$2,660.00
(Based on 14 credit hours per semester)
Books and Supplies	$1,400.00
Room and Board	$1,792.00
Personal Expenses	$1,330.00
Transportation	$1,652.00
Estimated Cost	$8,834.00

Approximate Student Budget for Aid Year 2009-10
Independent-Not Living with Parents
(Based on 9 months)
Tuition and Fees	$2,660.00
(Based on 14 credit hours per semester)
Books and Supplies	$1,400.00
Room and Board	$4,550.00
Personal Expenses	$1,330.00
Transportation	$1,652.00
Estimated Cost	$11,592.00

Approximate Student Budget for Aid Year 2008-09
Dependent-Living with Parents
(Based on 9 months)
Tuition and Fees	$2,660.00
(Based on 14 credit hours per semester, in-district)
Books and Supplies	$1,232.00
Room and Board	$1,722.00
Personal Expenses	$1,274.00
Transportation	$1,582.00
Estimated Cost	$8,470.00

Approximate Student Budget for Aid Year 2008-09
Independent-Not Living with Parents
(Based on 9 months)
Tuition and Fees	$2,660.00
(Based on 14 credit hours per semester, in-district)
Books and Supplies	$1,232.00
Room and Board	$4,368.00
Personal Expenses	$1,274.00
Transportation	$1,582.00
Estimated Cost	$11,116.00

Most federal aid is need-based. The three most common types of aid are grants, loans and work-study.

Grants - financial aid that does not have to be repaid. Federal Pell Grants for the 2008-09 school year will range from approximately $523 to $4,731. Federal Supplemental Educational Opportunity Grants (FSEOG) range from $200 to $500. For Illinois residents, the Illinois Student Assistance Commission (ISAC) offers a tuition grant to eligible students. The maximum amount of the award is limited to tuition and fees.

Academic Competitiveness Grant (ACG)
An eligible student may be able to receive an Academic Competitiveness Grant (ACG) up to $750 for their first academic year and up to $1300 for their second academic year.

ACG Requirements
To receive an ACG, you must

be Pell Grant-eligible during the same award year;
be enrolled at least half-time;
be a first-year or second-year undergraduate student or a student in a certificate program of at least one year in length at a two-year or four-year degree granting institution;
have completed a rigorous secondary school program of study;
and
if a first-year student: have completed secondary school after Jan. 1, 2006; not have been enrolled in ACG-eligible program while at or below age of compulsory school attendance
or
if a second-year student: have completed secondary school after Jan. 1, 2005, and have at least a 3.0 grade point average as of the end of the first year of undergraduate study.

For a list of recognized rigorous programs of secondary school study in your state visit http://www.ed.gov/admins/finaid/about/ac-smart/state-programs.html

Students are notified of their potential eligibility by the U.S. Department of Education and must follow through by going to the Department's web site to answer questions to determine if their high school program meets the definition of "a rigorous secondary school program." Students must verify eligibility by providing a copy of their high school transcript to the Office of Admission and Records.

Veterans - There are financial aid programs designed specifically for veterans of the armed forces. For more information, please contact our office or click here.

Loans - borrowed money that must be repaid with interest. Maximum loan amounts depend on the student?s year in school.

Federal Family Education Loan (FFEL) Program: private lenders provide federally guaranteed funds. FFELs include Subsidized Stafford, Unsubsidized Stafford and Parent Loans for Undergraduate Students CLC Parent PLUS Loan Request Worksheet 2009/2010.
A student must fill out aCLC Federal Stafford Loan Request Worksheet 2009/2010 in order for their loan to be processed.
Complete your 2009/2010 Master Promissory Note online. If you have trouble with the Master Promissory Note, please contact the Direct Loan Origination Center at 800-557-7394.

Work-study - lets you earn money while enrolled in school to help pay for education expenses. Students are limited to no more than 20 hours per week in the work-study program.

Who gets federal student aid?

Following is a list of requirements to receive aid from the U.S. Department of Education. You must

Be a U.S. citizen or eligible non-citizen with a valid Social Security Number;
Have a high school diploma or a General Education Development (GED) certificate or pass an approved ability-to-benefit (ATB) test;
Enroll in an eligible program as a regular student seeking a degree or certificate from CLC. (Note: all programs under 16 credit hours are ineligible for federal financial aid.);
Register or have registered with the Selective Service if you are a male between the ages of 18 and 25;
Meet the satisfactory academic progress standards set by the College;
Certify that you will use federal aid only for educational purposes;
Certify that you are not in default on a federal student loan and that you do not owe money on a federal grant;
Certify that you have never been convicted for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid.

How do you apply for federal student aid?

Complete the Free Application for Federal Student Aid (FAFSA).
The FAFSA should be completed each year before April 15th to ensure that all federal, state and institutional deadlines are met.
Review your Student Aid Report (SAR).
After you submit your FAFSA, the Department of Education will send you a SAR. The SAR confirms the information reported on your FAFSA and will tell you your Expected Family Contribution (EFC). The EFC is an index of need that our office will use to determine the amount of federal student aid for which you qualify.
Contact the Office of Financial Aid.
Talk with our office to make sure that your file is complete and you can be awarded. After a review of your SAR, we will prepare a letter outlining your aid eligibility.

Who can I contact if I have questions?

For more information about financial aid programs, contact the Office of Financial Aid.

STUDENT LOAN CODE OF CONDUCT

Purpose

Prohibits conflict of interest with the responsibilities of an officer, employee, or agent of CLC with respect to student loans. CLC officers, employees and agents include, but are not limited to:

Financial aid, admission, and business office personnel;
Supervisors of financial aid, admission and business office personnel;
The CLC president; and
Members of the Board of Trustees.

Prohibition Against Renumeration of the College of Lake County (CLC)

CLC will not solicit or accept anything of value from any lender, guarantor, or servicer in exchange for any advantage or consideration provided by the lending institution related to its student loan activity. This prohibition covers, but is not limited to:

Revenue-sharing arrangements;
Any computer hardware for which CLC pays below market prices;
Any computer software used to manage loans, unless the software can manage disbursements from all lenders; and
Any printing costs, postage or services.

This does not prevent CLC from soliciting or accepting favorable terms and conditions where the benefit is made directly to student borrowers.

Prohibition Against Renumeration to CLC Officers, Employees and Agents

CLC officers, employees and agents are prohibited from soliciting or accepting any gift, gratuity, favor, discount, entertainment, hospitality, loan or other item having a monetary value of more than a de minimus amount from a lender, guarantor, or servicer of educational loans.

This prohibition includes, but is not limited to, services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or reimbursement after the expense has been incurred.

This does not preclude any CLC officer, employee, or agent from receiving compensation for conducting non-college business with a lender, guarantor, or servicer, or from accepting compensation that is offered to the general public.

This prohibition does not prevent CLC from holding membership in any non-profit professional associations.

The following items are not considered "gifts":

Materials or programs on issues related to loans, default aversion, default prevention, or financial literacy;
Food, refreshments, training, or informational material furnished to any officer, employee, or agent as an integral part of a training program designed to improve the service of a lender, guarantor, or servicer of education loans to CLC, if such training contributes to the professional development of the officer, employee, or agent;
Favorable terms, conditions, and borrower benefits on an education loan provided to a student employed by CLC if such terms, conditions, or benefits are comparable to those provided to all students;
Entrance and exit counseling services provided to borrowers, as long as:
1. The institution's staff maintains control of the counseling; and
2. The products and services of any lender are not promoted.
Philanthropic contributions to CLC that are unrelated to education loans and are not made in exchange for any advantage related to education loans;
State education grants, scholarships, or financial aid funds administered by or on behalf of a State.

Ban on Gifts to Family Members

Gifts to family members of any officer, employee, or agent of CLC will be considered a gift to said officer, employee or agent if:

The gift is given with the knowledge and acquiescence of the officer, employee, or agent; and
The officer, employee, or agent has reason to believe the gift was given because of the official position of said officer, employee or agent.

Limits of College Officers, Employees and Agents Participating on Lender Advisory Boards

CLC officers, employees and agents are prohibited from receiving any remuneration for serving as a member or participant on an advisory board of any lender, guarantor or servicer, or receiving any reimbursement of expenses from said participation.

This does not preclude any officer, employee or agent from participating on a lender advisory board unrelated to student loans.

This does not preclude CLC officers, employees and agents not directly or indirectly involved in the affairs of the college's financial aid office from serving on the board of directors of a publicly traded or privately held company.

Contracting Arrangements Prohibited

CLC officers, employees and agents are prohibited from entering into contracting or consulting arrangements, except that:

An officer, employee, or agent who is not employed in the financial aid office and does not have responsibilities for loans may perform paid or unpaid service on a board of directors of a lender, guarantor or servicer.
An officer, employee, or agent who is not employed in the financial aid office but does have responsibilities for loans may perform paid or unpaid service on a board of directors of a lender, guarantor or servicer if they recuse themselves, in writing, from decisions involving CLC.
An officer, employee, or agent of a lender, guarantor, or servicer may serve on the Board of Trustees of CLC if they recuse themselves, in writing, from decisions regarding student lending.

Prohibition on Offers of Funds for Educational Loans

CLC will not solicit or accept any offer of funds for private educational loans or opportunity pool loans in exchange for providing a lender with loan volume or a preferred lender arrangement.

Ban on Staffing Assistance

CLC will not solicit or accept staffing assistance from any lender, except for:

Professional development training;
Educational counseling, financial literacy, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials;
Short-term staffing assistance to help CLC during emergencies.

Interaction with Borrowers

CLC participates in the Federal Family Education Loan (FFEL) program and all student and parent borrowers are packaged under that program. In respect to FFELP and/or alternative loans:

CLC will not, for any borrower, assign through award packaging or other methods, the borrower's loan to a particular lender
CLC will not refuse to certify, or delay certification of, any loan based on the borrower's selection of a particular lender or guaranty agency.

How to Apply for a Stafford Student Loan at CLC

For information about applying for a student loan, see Student Loan Procedures .

Federal Work Study

Postings for Federal Work Study positions can be found in any of these three places:

1. The two bulletin boards across from the Financial Aid Office at the Grayslake Campus (Room B114)

2. In the Career Center at the Grayslake Campus (Room E101)

3. Online at www.clcillinois.edu/depts/cps/studentjobs.asp .

For additional information on student employment, please contact the Student Employment Specialist at (847) 543-2408