HOW DO I USE FINANCIAL AID TO BUY BOOKS? If financial aid (not including loans or MAP) exceeds the cost of tuition and fees, the excess will be available at the Bookstore. Books may be charged to financial aid beginning two weeks before the start of the semester.  One-half of the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Monetary Award Program, Illinois Incentive for Access, and unspecified outside scholarships or grants will be distributed each semester.  Awards will be adjusted for part-time enrollment. 

BALANCE CHECKS If financial aid remains (not including MAP) after your tuition and books are paid, the remaining funds will be direct deposited or mailed to you approximately four weeks after the semester begins.

Carl Sandburg College is now offering electronic deposits of financial aid and tuition refunds to all its students. This service will provide a faster and convenient way for students to receive their refund money through the Direct Deposit option.

• Login to your account on Carl Sandburg College Web Advisor
• Enter your banking information under the Financial Information link
• Agree to receive your funds electronically

You can use your existing checking or savings account from any bank to sign up for this service. The College´s banking partner First Bank is offering students a free, FDIC insured First Bank Account, including a Debit Master Card to students.

FEDERAL DIRECT LOANS are distributed after the first 30 days of classes each semester.  Enrollment must be confirmed and all college charges must be paid. The remaining balance will be direct deposited or mailed to the student's home address. 

FEDERAL WORK STUDY is distributed by payroll check twice a month for hours actually worked.  The student must provide a signed time sheet to the Financial Aid Office according to the payroll schedule.  Students awarded Federal Work Study are not guaranteed a job and they are not guaranteed to earn their entire award.  Students may not work more than 20 hours a week when classes are in session. 

ELIGIBILITY: Eligibility for financial aid is determined through the analysis of your student aid application and the cost of education at Carl Sandburg College.  Your award is based on full-time enrollment and will be adjusted if you enroll in less than 12 credit hours.

• Pell Grant awards are generally 75% for 9-11 hours, 50% for 6-8 hours, and 25% for 1-5 hours.
• SEOG, MAP, and loans are prorated according to credit hours enrolled and eligibility.
• Trio SSS awards are prorated at 75% for 9-11 hours, and 50% for 6-8 hours. 
• We reserve the right to modify your award(s) at any time due to changes in your financial aid eligibility or in the availability of funding. 
• IF YOU WISH TO DECLINE ANY AWARDS OR YOU RECEIVE ADDITIONAL SOURCES OF AID, YOU MUST NOTIFY THE FINANCIAL AID OFFICE IN WRITING.  If aid from outside sources causes you to exceed your calculated financial need, we are required to reduce your FWS, SEOG, or Direct Loan.
• ATTENDANCE:  You must attend classes to receive financial aid.  Enrollment is verified each semester.  Your aid will be calculated based on the classes in which your attendance has been confirmed.  If you decide not to attend Carl Sandburg College, you should withdraw from your courses.  Your financial aid funding is based on all courses in which you are enrolled for the current semester.  If you withdraw from a course that is scheduled to begin later in the semester, the Financial Aid Office must recalculate your eligibility.  You will be responsible to repay any financial aid funds you received in excess of your adjusted eligibility.  Please contact the Financial Aid Office if you have questions.

SCHOLARSHIPS
Scholarships are disbursed one-half per semester unless otherwise specified by the awarding organization.  Scholarships will be considered available for any educational expenses and distributed to the student using the College's disbursement policies unless the donor establishes specific restrictions.  Funds restricted to direct costs and not used by the student are returned to the donor at the end of the academic year.

REVISIONS AND CANCELLATIONS
The College reserves the right to revise or cancel financial aid award(s) at any time due to (1) changes in your financial, residential, or academic status;  (2) your failure to comply with the policies, procedures, or laws pertaining to these programs; (3) the availability of federal, state and institutional funds; (4) changes in your eligibility or college policy; or (5) correction of errors.  The College is not obligated to satisfy the total financial need of a student.

CARL SANDBURG COLLEGE DEFERRED PAYMENT PLAN
Carl Sandburg College provides a convenient, affordable alternative to lump sum payments.   The Deferred Payment Plan enables you to spread tuition payments equally over several months without interest or finance charges.  By paying monthly, you limit borrowing and keep the overall costs of education down.  The Deferred Payment Plan is available to all families regardless of financial need.  There is a minimal enrollment fee to cover administrative costs. For more information on the payment plan, call (309) 341-5431. 

I STILL NEED MORE MONEY If you still need more assistance, you should consider applying for scholarships or outside sources of assistance.  Scholarship resource books are available at most libraries and on the Internet.  If you have special circumstances, such as loss of job or benefits, contact our Financial Aid Office and explain your circumstances. 

TAXATION OF FINANCIAL AID GRANTS:  Financial aid grants in excess of tuition, fees, and books are taxable.  Please keep a copy of your financial aid check stub for use in filing taxes.

The Financial Aid Office will process late applications as quickly as possible; however, late applicants should make other arrangements to meet payment deadlines until financial aid funds can be released.