The Office of Financial Aid is committed to helping you and your family apply for and receive financial aid, both before you enroll and during your time here.
The steps below are for U.S. citizens and permanent residents applying for need-based financial aid (grants, loans, work-study). Note that we do not require the CSS Profile.
Each year, the State of Illinois establishes a date by which Illinois residents must submit the FAFSA, to be considered for Illinois MAP Grant funds. For the 2015-2016 academic year, the deadline was February 21. If you are an Illinois resident and your application is submitted on or after February 22 you will be on a “waiting list” for MAP Grant funds. (In recent years, FAFSAs submitted within a week of the deadline have received funds.) Even if you do not receive a MAP Grant, Lake Forest will offer other financial aid (scholarships, grants, loans) if you qualify.
If this is your first time dealing with financial aid, you may want to watch this two-minute video (it will download to your computer as a .wmv file).
Applying for Fall 2015
Step 1. Complete the 2015-2016 FAFSA* (en Español)
- Available now
- Please submit by Feb 15 (Illinois residents) or March 1 (other states)
- Be sure to choose the 2015-2016 version
- Our FAFSA “Helps” Page - optional
- Click here to add Lake Forest to a FAFSA you already submitted
- FAFSA Worksheet (en Español) - optional - will show steps that require some preparation
- Our Federal School Code is 001706
Step 2. Complete “special circumstance forms” (optional)
You may complete the form(s) below if you would like our office to consider your unique situation. Do so only if your cost exceeds any minimum amount shown.
- Educational Expense - $2000; for parent/younger sibling, 7/15 - 6/16
- Educational Loan -$2000; parent repaying loans in 2015
- Healthcare Expense - $3000; expenses paid in 2014 / 2015
- Income Change, parent - a significant change in 2015 vs. 2014
- Income Change, student - a significant change in 2015 vs. 2014
- Second Household - if living in two homes in different cities in 2015
- Unusual Expense - $2000; daycare, funeral, legal, etc. in 2014 / 2015
Please do not send tax returns to our office. If required, we will ask you for the necessary IRS documents.
What Happens Next…
Once you have been admitted and submitted all applicable financial aid documents, we will prepare an “Award Letter” showing the aid you qualify to receive. Our hope is to provide the Award Letter within two weeks of receiving your financial aid documents, beginning in mid-February. It will be sent by e-mail to both student and parent, and - shortly thereafter - by regular mail.
How to Read Your Award Letter connects you to descriptions of the aid we have offered, financial aid policies related to that aid, and other important information.
We may require additional information from you at some time in the process. If so, we will also use email to let you know. We may even send an occasional text message to alert you to an important e-mail we have sent.
Worth Every Penny
Forbes Magazine has Lake Forest in the top 7 percent on its recent list, ranking institutions based on alumni with the highest salaries.
PayScale.com named Lake Forest 11th in the nation among liberal arts colleges for the best return on investment. The College was ranked #1 among liberal arts colleges in Illinois, and fourth in Illinois college and universities.
Learn about what other rankings and guides have to say.
Examples of Scholarship Scams
In January 2014, the National Association of Student Financial Aid Administrators reported about a fake scholarship fund that sends a congratulatory message and even a check in the mail, and then it asks the student to send them a check for taxes and fees in return. The check from the scholarship company bounces, and then the student suffers the costly consequences, even identity theft.
In January 2013, our office heard from several students who received an email claiming to be from the Robert Sterling Scholarship Foundation. A scholarship is offered and awarded based on very limited information from the applicant, and a false scholarship check is sent. They contact you later to say the check was larger than it was supposed to be. They ask you to deposit the first check immediately, and write a check to them to cover the excess amount you received. The problem? the check you received from them is bad and you will have lost the money that you sent to them.
If you ever have a question about a scholarship offer that sounds (or smells) “fishy” feel free to contact the Office of Financial Aid (firstname.lastname@example.org, 847-735-5103) and we will try to help determine if it is legitimate.