From the desk of Financial Aid

From the desk of Financial Aid

The Office of Financial Aid administers over $50 million in institutional, federal, and state financial aid to North Central's undergraduate and graduate students. We are here to support all students and make a North Central education affordable. Our office is open Monday through Friday from 8:00 a.m. to 4:30 p.m. We can be reached at finaid@noctrl.edu or 630-637-5600.

What is Financial Aid?

Financial aid refers to funding available to students to help cover their education costs. This funding can come in several forms:

Grants: Typically need-based, grants do not require repayment. Federal Pell Grants and the IL MAP Grant are common examples.

Scholarships: These are awarded based on merit, talent, or specific criteria. All students at North Central receive a merit scholarship guaranteed for four years as first-year students and three years as transfer students as long as they meet Satisfactory Academic Progress. 

Loans: Unlike grants and scholarships, loans must be repaid with interest. Federal student loans often offer low interest rates and flexible repayment options. Students who are dependent based on FAFSA can have their parents become eligible for the Federal Direct Parent PLUS Loan. 

Work-Study: This employment program provides part-time jobs for students with financial need, allowing them to earn money to help pay for their education.

The Application Process

Complete the FAFSA: The Free Application for Federal Student Aid (FAFSA) is your gateway to most financial aid programs. Completing this form annually is critical, as it determines federal, state, and institutional aid eligibility. Students who are residents of Illinois who cannot file the FAFSA can complete the Alternative Application for Illinois Financial Aid. Both applications will become available on December 1.

Apply for Scholarships: Start early! Numerous scholarships are available through North Central’s scholarship portal, AcademicWorks.

Tips for Maximizing Your Financial Aid

Meet Deadlines: Submit your FAFSA as soon as possible after it opens. Do not miss a scholarship deadline. 

Stay Informed: Financial aid policies and programs can change. Ask questions! 

Communicate with financial aid: Don’t hesitate to contact our office. We understand that every family situation is not the same. We are here to understand and connect you to resources.