How to Apply for a Pell Grant in Illinois
Pell Grants provide undergraduate students across the country with up to $5,550 per year for college costs. Although the federal government awards Pell Grants to all students who qualify, regardless of how early they submit the application, you are best off submitting your application early in Illinois if you want state-based financial aid, as well. The Illinois Student Assistance Commission awards its grants and other financial aid on a first-come, first-served basis, so you should submit your application as soon as possible after Jan. 1 of the year in which the school year begins.
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Things You'll Need
- W2s or pay stubs for student and parents
- Last year's tax return for student and parents
Instructions
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1
Gather your and your parents' W2 statements from the previous calendar year. If they have not arrived yet, use the last pay stub of the year for each job to estimate your year-end earnings.
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2
Fill in this year's income in place of last year's on a copy of last year's tax return.
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Go through the tax return and substitute this year's numbers for last year's in every step. You need an estimate of this year's adjusted gross income and tax liability from your tax return to apply for financial aid. If you have completed this year's tax return in full, use that instead of your estimate.
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4
Go to the Free Application for Federal Student Aid website and start a new application by typing in your name, Social Security number and date of birth.
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Fill in all parts of the FAFSA with the personal and financial information the application requests.
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Go to the Federal Student Aid PIN site and apply for a PIN so you can electronically sign your FAFSA. This is the fastest way to have your application processed in Illinois.
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Type your PIN to sign the application and submit the FAFSA. The federal government will pass it along to the Illinois Student Assistance Commission.
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Tips & Warnings
Many students who qualify for the federal Pell Grant also qualify for aid from the Illinois Student Assistance Commission. This is why it is so important to submit the FAFSA before the state aid runs out.
A few days after you submit your FAFSA, you should receive your Student Aid Report. This report shows your Estimated Family Contribution, which the federal government uses to determine whether you get a Pell Grant.
As of the 2011 to 2012 school year, students with an EFC of $5,273 or less are eligible to receive a Pell Grant of at least $555. The amount of the grant increases with lower EFCs.
