Federal and State Aid

• This program enables undergraduate students to borrow annual amounts up to $3,500 for freshmen, $4,500 for sophomores, and $5,500 each for juniors and seniors.
• Dependent undergraduates whose parents can borrow PLUS Loans may borrow an additional annual amount of $2000 through the unsubsidized Federal Direct Loan Program.
• Undergraduate dependent students whose parents cannot borrow PLUS Loans and undergraduate students meeting the federal criteria for independent status may borrow for the freshman and sophomore years an additional annual amount of $6000 through the unsubsidized Federal Direct Loan Program while students at the junior and senior level may borrow up to an additional $7000 per academic year. Contact Financial Aid for current interest rates and fees.
• Subsidized Federal Direct Loans are need based with all interest paid by the U.S. Department of Education while attending at least half time (six credit hours for undergraduates).
• Unsubsidized Federal Direct Loans are not need based and interest accrues on the loan. Students with an unsubsidized Direct Loan are responsible for paying the interest while they are in school; however, the student has the option of capitalizing the interest.

Direct Loan borrowers must:

• Complete the Federal Direct Loan Entrance Counseling online at studentaid.gov.
• Complete a Master Promissory Note at the same website. When you sign the Master Promissory Note, you are agreeing to repay the loan according to the terms of the note. If you have completed an MPN in the last ten (10) years in the Direct Loan program and received funds based on it, you will not need to complete a new MPN.

Students may review their federal loan history by visiting: studentaid.gov

All Financial Aid documentation must be received in the Financial Aid office before your Direct Loans can be processed including your Entrance Counseling and Master Promissory Note at studentaid.gov

Graduate Students

Graduate students are eligible to borrow up to the cost of education, with a maximum of $20,500 per year in Direct Unsubsidized Loans.

• The value of this grant can range from $692 – $7,395 for eligible students in 2026-27.
• Application must be made annually with the FAFSA at studentaid.gov
• The Federal Pell Grant Program provides need-based grants to eligible degree-seeking undergraduates. The amount of the award is based on the Expected Familty Contribution (EFC) and the number of credit hours for which the student is enrolled. Awarding of Pell Grant is limited to twelve (12) full-time semester awards. This award is only for first Bachelors degree.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) is a limited-funding award available to degree-seeking undergraduate students who demonstrate exceptional financial need. Like the Federal Pell Grant, FSEOG funds may be applied only toward a student’s first bachelor’s degree. In accordance with federal guidelines, priority is given to students with the greatest financial need who are eligible for the Pell Grant.

Federal Work Study (FWS) Program

The Federal Work Study Program (FWS) provides eligible students with part-time, on-campus employment opportunities to help offset educational expenses. Students typically work between 8 and 12 hours per week, with most positions located on campus. It is the student’s responsibility to find an on-campus job. There is a job fair in August on the first Monday after students have returned to campus.

FWS positions are limited, and priority is given to students who indicate interest in Federal Work Study on their FAFSA and meet the priority filing deadline.

• Parents (or step-parents) who need additional funds to assist with educational expenses may borrow up to the cost of education minus any financial aid the student is eligible to receive for the academic year.
• Parents must complete a Plus Loan Application and Master Promissory Note at studentaid.gov
• Repayment normally begins after the loan is fully disbursed.
• Interest begins to accumulate at the time the disbursement is made.
• Contact Student Financial Services for current interest rates and fees.

• The Illinois Student Assistance Commission (ISAC) offers a need-based grant to eligible Illinois residents.
• Residence status for dependent students is based on parents Illinois residency. Independent students must document Illinois residence for 12 months before the beginning of the academic year.
• Due to limited funding, students are encouraged to apply early to avoid loss of funding.
• Application for the MAP Grant is made by properly completing the FAFSA at studentaid.gov, listing an Illinois school, and meeting Illinois residency requirements.
• Eligibility is limited to 135 paid MAP credit hours.
• Students who have been paid 75 or more MAP credit hours must attain junior status.
• Quincy University’s FAFSA code is 001745.

MAP grants are limited based on the number of applicants and funding levels appropriated by the Illinois General Assembly. Please be aware that in light of state funding constraints, reductions to estimated or actual grants are possible.

• Students having disabilities which limit them vocationally may be eligible for the services of their state’s department of rehabilitation.
• These services include vocational counseling and training, payment of tuition, fees, books, and job placement.
• Contact your local department of rehabilitation office for details.

Quincy University is approved by the State Approving Agency for educational assistance benefits to veterans and veterans’ dependents.

Fiction
I need a computer to file the FAFSA.

Fact
You can file your FAFSA on your phone with the myStudentAid app! It’s free at the Apple App Store (iOS) or the Google Play store (Android). You can also request a form be sent to you so you can mail it back in by calling 1-800-4FED-AID.

Fiction
I need to pay a fee to file the FAFSA.

Fact
Filing the FAFSA is free – it’s right there in the name! Avoid any website or mobile app that requires a payment – that means it isn’t the official FAFSA site or the official myStudentAid app.

Fiction
It takes a really long time to fill out the FAFSA.

Fact
The average time to complete a FAFSA is only 22-30 minutes. There’s also lots of help available – even a FAFSA YouTube channel!

Fiction
The FAFSA asks for a lot of information and I won’t be able to find it.

Fact
The information the FAFSA collects includes things you can easily access, like your Social Security number, bank statements and driver’s license. You don’t even have to have your tax forms on hand: there’s a tool that can pull them in automatically for you! See a checklist of the information you need to file the FAFSA.

Fiction
I need both parents’ information to complete the FAFSA.

Fact
It depends. There are many situations when you only need one parent’s information to complete the FAFSA – and you might not even need that. The FAFSA considers many different family situations, and so will your college’s financial aid office. Learn more about parent involvement.

Fiction
I don’t need to fill out the FAFSA.

Fact
The FAFSA not only enables you to apply for federal grants and low-interest loans, it’s also the form that states and individual colleges use to determine your need-based aid. Check the FAFSA submission deadline for your state here.

Fiction
I need to be a U.S. citizen to be eligible for financial aid.

Fact
Students who fall into certain non-citizen statuses are eligible for federal financial aid. See a list here. Your parents’ citizenship does NOT impact your eligibility. For information on financial aid options for DACA recipients, click here.

Fiction
My family must have filed their tax returns before I can file the FAFSA.

Fact
You can use what’s called “prior-prior year” taxes to complete the FAFSA. That means that for the 2022 FAFSA, you use 2020 information.