Tuition, Grants, and Scholarships... Oh My!
This is where you can find your financial aid offer notification.
What is UIS Student Self-Service?
You can also see billing information, your grades, class schedule and more!
Once you accept a student loan, you cannot cancel part of the loan later in the semester if you do not need it. True/False
What is false?
Not only can you adjust the initial amount of a loan that you accept on your student aid notification, you can also request more of what was offered later if you need or cancel part of the loan if you don’t need it.
You can pay interest on unsubsidized student loans as it accrues to avoid capitalization and decrease overall loan costs. True/False
What is true?
You can pay down interest on unsubsidized student loans as it accrues while you're still in school to avoid capitalization and decrease the overall cost of your loans.
The percentage of students who take longer than 4 years to complete a bachelor's degree.
5%
10%
25%
50%
What is 50%?
Graduating late may impact your return on investment for a degree, student loan repayment costs, income potential, and opportunity costs.
Scholarship applications for UIS Donor-Funded Institutional Scholarships are due_________.
What is mid-February?
Typically February 15. You should also complete the FAFSA prior to the scholarship deadline since financial need is a consideration for many scholarships.
This is the length of the standard repayment plan for a federal student loan.
What is ten years... or 120 monthly payments?
Federal Work-Study earnings will not reduce your future financial aid. True/False
What is true?
Federal work-study earnings are subject to taxes, but they will not reduce your future student aid.
The FAFSA typically opens for the following academic year on __________.
What is October 1?
There will be a delay for the 2025/2026 form, but you should plan to apply as soon as possible.
If you qualify for an Illinois MAP Grant, you are guaranteed those funds. True/False
What is False?
Available funding for MAP grants can run out. Submitting your FAFSA or IL alternative aid application as early as possible increases the likelihood that you will receive the aid you qualify for.
You must pay back student loans even if you don't graduate. True/False
What is true?
These are funds used to pay for expenses not covered by financial aid.
Personal Funds,
College savings plans,
Payment Plan, or
All of the above
What is all of the above?
If the financial aid you’re offered does not cover all of your education costs, you can use any or all of these to cover the difference.
The number on your debit card is the same number you would use for e-check and direct deposit. True/False
What is false?
Many students enter their debit card number instead of their routing and account number when making a payment on their student account in UI-Pay.
The following statement is true...
Loans must be paid back,
Scholarships must be paid back,
Grants require receipts for purchases, or
All loans require you to maintain a minimum GPA
What is loans have to be paid back?
Loans must be paid back, but scholarships and grants do not.
The government pays the interest for you while in school or in deferment on this type of loan.
What is a Direct subsidized student loan?
The government pays the interest on behalf of the borrower during in school deferment and the grace period
An example of an indirect cost.
Tuition & Fees,
Books & Supplies,
On campus housing and meal plans, or Transportation
What Books & Supplies and/or Transportation?
Direct costs include tuition & fees, Housing & meals (if living on campus), and any other charges billed through the school.
Indirect costs include books and supplies, Transportation, personal expenses, and off campus living expenses.
The more education you have, the less likely you are to be unemployed during your lifetime. True/False
What is true?
Research from the U.S. Bureau of Labor Statistics shows that people with more education tend to have higher median weekly earnings and lower unemployment rates.
To maintain Satisfactory Academic Progress (SAP) a student must...
Maintain a minimum GPA, or
Complete 67% of attempted credits for all enrollment periods, or
Not exceed the maximum time frame eligibility, or
All of the above
What is all of the above?
In order to maintain SAP, a student must:
•maintain a minimum GPA (2.0 for Undergraduates and 3.0 for Graduate students),
•complete 67% of attempted credits for all enrollment periods (credits completed divided by credits attempted = completion rate), and
•not exceed the maximum timeframe of eligibility (180 credits if the bachelor degree requires 120 credits to complete)
Student loans can easily be discharged by filing for bankruptcy. True/False
What is false?
It is very difficult to get student loans discharged in bankruptcy and you should not rely on that option for handling your student loans.
When it comes to student loans, a common rule of thumb is to borrow less than...
What is your first-year salary out of school?
A common guideline is to keep your student loan debt total below your expected first-year salary out of school. Your salary can vary based on the location of your job, your experience, and more.
If your income is $45,000 in Springfield, IL, you would need $________ to maintain the same standard of living in San Francisco, CA, if the cost of living is 90% higher.
What is approximately $85,000!
To maintain your standard of living in San Francisco, CA, you'll need a household income of $85,319.