Trinity Christian College Adult Studies

SCHOLARSHIPS
Many students have found scholarship sources within their communities. Some possible sources for outside scholarships are employers, Rotary International and similar service organizations, home churches, veterans' benefits, Pullman Foundation (for Chicago area), and the Illinois Future Teachers Corps Program. We encourage you to discuss scholarship sources with our staff. We do not recommend paying for a scholarship search service.   We have compiled a reference list of outside scholarships.

NEED-BASED AID
Need-based financial aid refers to grants, loans, and part-time employment awarded on the basis of a student's financial need.

The department of education uses the information you provide on the FAFSA to calculate your "estimated family contribution (EFC)." Need is then determined by the following equation: College cost - EFC = need.

GRANTS
Pell Grants are made available by the U.S. government and are awarded only to students who qualify according to strict rules of family income and assets. In general, lower income families are eligible to receive Pell Grants. About 25 percent of Trinity students receive Pell Grants in amounts that vary from $500 to $5,500. Adult Studies students who possess a bachelor's or master's degree are not eligible for Pell Grants.

SEOG Grants are awarded by Trinity, under strict federal government guidelines, to needy students. Preference is given to Pell recipients. The awarding process takes into consideration all other types of aid that a student receives. Amounts are based on the availability of funds. Adult Studies students who possess a bachelor's or master's degree are not eligible for SEOG Grants.

Illinois MAP Grants are awarded by the state to needy Illinois students. Students from both low and middle-income families are eligible to receive Monetary Award Program grants. Approximately 40 percent of all Trinity students who are Illinois residents receive MAP grants. Amounts vary from $300 to $4,968 and are prorated based on credit-hour enrollment. Adult Studies students who possess a bachelor's or master's degree are not eligible for MAP Grants.

Through the College Cost Reduction Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4000 per year to students who intend to teach in a high-need field at a public or private elementary or secondary school that serves students from low-income families. To be eligible, students must complete the FAFSA (although they do not need to demonstrate need), be enrolled in coursework that is necessary to begin a career in teaching, and maintain a cumulative GPA of 3.25 or greater. For more details, click here.

LOANS
Subsidized Stafford Loans are the most common government subsidized loans available to Trinity students who have completed the FAFSA and show financial need. Stafford Loan eligibility is determined by the College based on the information provided in the FAFSA. Stafford Loans are made available through a chosen lender, who holds the promissory note and provides the loan. No interest is charged on a Subsidized Stafford Loan, so long as the student remains in college. Six months after leaving school, the student will receive payment instructions from the bank or its loan servicer, at which time a variable interest rate is charged, not to exceed 8.25 percent.

Perkins Loans are available mainly to adult studies students who have extreme financial need. Typically, students are offered Perkins Loans only if there is additional aid eligibility after the maximum Stafford Loan has been offered. Perkins Loan amounts are usually $500 to $2,000. Students sign loan forms at Trinity. No interest is charged on a Perkins Loan, so long as the student remains in college. Nine months after leaving school, the student will receive payment instructions from Trinity; at that point, an interest rate of five percent will be charged.

ADDITIONAL LOANS
You may consider borrowing money to make up the difference between the amount of your financial aid package and the amount you are able to pay for college. Trinity students and families often use the following three types of loans.

OTHER

Those pursuing a teaching certificate may be eligible for the Federal TEACH Grant (up to $4,000 per year). For eligibility requirements, visit www.federalstudentaid.ed.gov.

Unsubsidized Stafford Loans are loans provided by the federal government not based on need. Students who do not qualify for subsidized funds will have Unsubsidized Stafford Loan eligibility. Additional Unsubsidized Loan funds are available to independen students or students whose parents are denied a Parent PLUS Loan. The additional funds ($6,000 for freshment and sophomores, $7,000 for juniors and seniors) are unsubsidized, meaning that the student is responsible for the interest that accrues while they are in school. Out-of-pocket interest payments can be made or a student may choose to defer the interest that accrues while they are in school, in which case the interest will be added to the principal.

PLUS Loans (for parents of dependent students) are available to those who need additional funds to help pay for college after all other aid possibilities have been exhausted. It is not necessary to demonstrate financial need in the FAFSA process to be eligible for PLUS Loans. These loans are subject to interest immediately, and payment begins 60 days after the final disbursement of the loan. Principal payments may be deferred; contact your lender for more details. Although the loan is in the parent's name, families often make arrangements for students to take over payment of the loans once they graduate. Pre-screen applications are available in the financial aid office.

Alternative Loans are another option for individuals to fund their college education expenses. It is not necessary to demonstrate financial need in the FAFSA process to be eligible for an alternative loan. Several different alternative loans are available. Because the loans are funded by private companies, each loan has different characteristics. Students who do not meet an established income level will typically need a cosigner. Payment on alternative loans may begin immediately or may be deferred. Students must apply for the Stafford Loan before requesting an alternative loan.

Click here for a list of alternative loan sources.

WORK OPPORTUNITIES
College Work-Study is a federally funded program through which needy students are offered the opportunity to work on campus and defray part of their college costs. Eligible new students must complete a special application available on the TrollWeb; you must have a Trinity login account.

VETERANS
Trinity Participates in the Yellow Ribbon Program. Read more about the program here.