A grant is usually awarded based on “financial need” and does not need to be repaid. Grants come from several sources including the College, some states, and the federal government. Grants listed below are the most common programs available to U.S. citizens and permanent residents.
To apply for a grant, you must complete the Free Application for Federal Student Aid (FAFSA) each year. Follow the appropriate link for information for students from Canada and other foreign countries.
Lake Forest College Grant
This grant, provided directly from the College, is available only to full-time students. Most students who qualify for financial aid can expect a substantial amount of their need to be met by a Lake Forest College Grant. While most eligible students receive grants ranging from $1,000 - $20,000 for a year, grants of varying amounts are made based on your individual circumstances, application and eligibility.
Lake Forest Cornerstone Grant
This grant is awarded to students who show distinct potential and character. It is not based on financial need.
Lake Forest Founders Grant
This grant is awarded to students who show “financial need” as determined by the College.
Federal Pell Grant
This federal grant is awarded to both full- and part-time students with exceptional financial need. Awards range from $500 - $5,500. Must be a U.S. citizen or permanent resident.
Federal Supplemental Educational Opportunity Grant (FSEOG)
This federal grant is awarded to students with exceptional financial need, with most awards going to students who are Pell Grant recipients. At Lake Forest, most awards are in the amount of $1,000 for a year.
Illinois Monetary Award Program (MAP) Grant
This state grant is awarded to Illinois residents who attend an approved Illinois college/university, and meet the “need” requirements. The maximum grant is currently $4,720. The Illinois Student Assistance Commission (ISAC) administers this and other state grants. Together with ISAC our Office of Financial Aid determines if you are eligible for the grant. The FAFSA must be submitted before the deadline announced by ISAC to be considered.
By applying for financial aid and agreeing to share that information with the Illinois Student Assistance Commission (ISAC) you have been considered for the State of Illinois (IL) Monetary Award Program (MAP) Grant. If you were determined to meet the eligibility criteria for the MAP grant, an award is included on this award letter. This award may be an estimate made by the financial aid office and, if so, is identified as a “State of IL MAP Grant (Est)”. 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 MAP grants are possible.
Eligibility for a MAP grant is tracked by the equivalent number of semester credit hours of MAP benefits paid on your behalf. This is called MAP Paid Credit Hours. Payment for each term is being made according to the equivalent number of credit hours eligible for MAP payment, with a minimum of 3 and a maximum of 15 MAP Paid Credit Hours.
There is a limit on the number of MAP Paid Credit Hours that can be paid while you are classified by your school as a freshman and sophomore. This limit is the equivalent of 75 MAP Paid Credit Hours. If this maximum is reached, you must attain junior status for your MAP grant eligibility to resume. The maximum number of MAP Paid Credit Hours that can be received is capped at 135.
If a State of IL MAP Grant (Est) is not included in your award letter, you are not eligible for the grant at Lake Forest College.
State Grant Programs
There are currently just a a few states - Pennsylvania, Rhode Island and Vermont for example- that offer funds which can be used at an out-of-state college/university. If you are a resident of one of these states, and meet the requirements (set by each state) the funds may be used here at Lake Forest. Since the grants are awarded by the states themselves, contact the higher education agency in your home state to learn more.
Outside Sources of Funding
Your ability to secure outside funding is always advantageous. For that reason you are encouraged to apply for national, state, and local grant that you may be eligible to receive. Funds are awarded at various levels by businesses, churches, civic organizations, and foundations. Visit our outside scholarships webpage page for examples of funding available.
If you do receive assistance from another source, we may be required to reduce other funds you have been offered.