Grants, loans, jobs available; students should apply early

Students having difficulty paying their bills can take advantage of NIU’s financial aid programs.

Jerry Augsburger, director of the Student Financial Aid Office, said financial aid at NIU falls into three categories: grants, benefits and loans. Last year, about two-thirds of NIU students received a total of more than $37 million in financial aid. About 30 percent of the financial aid was in the form of grants, he said.

Grants provide monetary gifts which do not have to be paid back, while benefits involve student employment, Augsburger said. Resident assistants in the residence halls receive free room and board as part of their “payment,” he said. Educational loans provide money for school but must be paid back, Augsburger said.

Among the major types of financial aid available at NIU are National Direct Student Loans, now called Perkin’s Loans, the Supplemental Education Opportunity Grant and College Work Study. Augsburger said NIU receives an allotment of money for these campus-based programs and NIU determines who is eligible.

Students also can receive money from federal and state programs. The Pell Grant, Guaranteed Student Loans and the Illinois State Scholarship Commission’s Monetary Award Program are need-based programs available to NIU students.

Students can apply for all of these programs by filling out two forms available at the Student Financial Aid Office, located in Swen Parson Hall. The Financial Aid Form must be submitted to the College Scholarship Service when completed, and the NIU application is a form unique to NIU, Augsburger said. Students also need to send a copy of their parents’ tax return, he said.

Augsburger said priority in financial aid is given to students applying before March 1 or within 30 days after admission to NIU. He said the campus-based programs have limited funds and might not be available to students who apply late.

Federal and state programs have a much larger pool of funds, but it is still better to apply before March 1, Augsburger said.

“The later people apply, the later NIU will be able to process and the less likely the award will come in time to pay fall semester bills,” he said.

Augsburger said NIU has several books with information on a large number of scholarships students might want to look at. Five such books are The Scholarship Book, Need a Lift, Financial Aid to Illinois Students, Blum’s Guide to College Money and The A’s and B’s of Academic Scholarships, he said.

Augsburger said students concerned about their ability to pay for school should contact the Financial Aid Office. “Several counselors are available for consultation with students and parents,” he said.