ON-AIR: Financial aid payouts higher than last year

By Christine Kim

Received less financial aid this year?

Some students say they did, but the truth is that more financial aid has been distributed this year compared to last. State grants increased by five-hundred dollars and two new federal need-based programs were introduced. Associate Director of the Office of Financial Aid Victor Martinez says there are many factors that influence the amount of financial aid awarded to an individual each year.

“Sometimes it’s a perception that i’m receiving less financial aid cause some of the issues will be if the family is receiving or making more income than the previous year, it could be that the number of family members in college has decreased, and by that happening the contribution will be higher than what it was in that previous year.”

The Monetary Award Program Plus Grant is a new option for Illinois residents. It awards up to five-hundred dollars for families who make less than two-hundred-thousand dollars a year. The information on the funding from the state is not yet finalized and currently awaiting for the approval of this fund.