Need-Based Grants

  • Grants

    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 $5,000 - $20,000 for a year, grants of varying amounts are made based on your individual circumstances, application and eligibility. 

    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.

    Illinois Grant Programs

    There are a limited number of special programs (including scholarships) available to Illinois residents.

    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. 

    Our Outside Scholarships page includes several links.

    If you do receive assistance from another source, we may be required to reduce other funds you have been offered.