How to pay for it all

Tuition is going up as are gas prices, along with many other things, making paying for college all the more difficult. There are ways to lessen that load, at least as far as tuition bills are concerned.

The Financial Aid Office at NEIU offers assistance to students, including part-time students, in accessing loan and grant programs through federal and state loans, grants and scholarships; student work-study; and merit or need-based programs. The office will also offer advice on loan consolidation.

Federal legislation recently allowed student loans to have a variable rate rather than a fixed rate. That rate will vary depending on the loan. Stafford fixed rate loans will be set at 6.8 percent while guarantee PLUS fixed rate loans will be set at 8.5 percent.

Consolidation may not ensure a better deal. "Consolidation is putting loans together. Loans with different rates will become one loan with one rate and one payment. The life of the loan might be extended but you still might not pay a lower rate, but that rate is locked in," said Director of Financial Aid Marshal Jennings. Consolidation is available through the State of Illinois and private lenders.

Jennings encourages students to file early for financial aid to get the maximum benefit. Jennings suggested January 1 for the following fall semester but said "we will try to work with late filers as much as possible."

Advisors are assigned to students who are available during working hours and additional general advisors are available during evening hours.

Some programs, which are available to both full- and part-time students with a class load of six hours or more, include the Stafford loan, the Supplemental Educational Opportunity Grant and the Monetary Award Program Grant (often referred to as the MAP Grant).

Additionally there are tuition wavers offered through various departments like the honors program, as well as other merit-based scholarships available through individual academic departments.

Military veterans have several options through the GI Bill but also through state based programs such as the Illinois Veterans Grant.

The first step in the process is to complete a Free Application for Student Aid (FAFSA) form, which is available at the Financial Aid Office or online at www.studentaid.ed.gov. A student will submit the form along with federal and state income tax returns for themselves and/or their legal guardian(s) to prove need.

In the event that the awards granted exceed tuition costs, refund checks and book waivers are issued to students to help with other expenses. Students can find the Financial Aid Office in DBL-200 (across from Beck's Book Store), or they can call (773) 442-5000 for more information.