Gift Aid
These are grants, scholarships, and other benefits that do not have to be repaid. Most grants are based on financial need, as determined by a federal formula, and are given by the federal or state governments; most scholarships are based on criteria such as grades or affiliations or other criteria, and may or may not also include a financial need component; most benefits are based on a combination of criteria.
- Federal Pell Grants
- Federal SEOG (Supplemental Education Opportunity Grant)
- Illinois MAP Grants (for Illinois residents)
- Need-based Merit Grants
- Other scholarships
- Vocational Rehabilitation
- Veterans Benefits
- Tax Benefits
Loans do need to be repaid; repayment can usually be delayed until several months after the student leaves school. Some loans, such as Federal Stafford loans, are given to students in their own names; some loans, such as Federal PLUS loans are given to parents of dependent students. Some loans are based on the student's financial need; some loans require a credit check; some loans are available regardless of income. There are alternative educational loans offered by private lenders to students, that may or may not require a cosigner.
- Federal Subsidized Stafford Loan
- Federal Unsubsidized Stafford Loan
- Federal PLUS Loan (Parent Loan for Undergraduate Students)
- Creative Education Loan
- Home Equity Loan
Some students choose to work to help to pay their living expenses while attending school. The Illinois Institute of Art - Chicago participates in the Federal Work-Study program, and also assists students to find part-time jobs in the community.
- Federal Work-Study
- Part-time job assistance