Impact of Federal Sequester
The budget cuts that went into effect on March 1, 2013 have resulted in further changes to TEACH Grant funding for grants that will have a first disbursement on or after October 1, 2013. This will impact TEACH Grant awards for the 2013-2014 academic year.
The funding amount will be cut by .89% from the award amount that a student would have originally been eligible to receive. The reduction is specific to an individual student’s eligibility. For example, a student who was eligible $4,000 in 13-14 but will have his/her initial disbursement after October 1, 2013 will now be eligible for $3,964.40.
Please note that these changes only impact students whose first disbursement of a TEACH Grant is on or after October 1, 2013. Students may receive more than one annual limit of TEACH Grant funding in an academic year and second annual awards would be subject to the award amounts for those grants that disburse on or after October 1, 2013.
What is a Grant?
A grant, like a scholarship, is a financial aid award that you do not have to repay. All grants available to National Louis University students are funded by by the federal or state government and require students to complete the FAFSA to be considered for the resources.
Grants for National Louis Students
The following grants are open to all NLU undergraduate students. The only grant program open to graduate students is the TEACH Grant.
- Federal Pell Grant – The amount of this need-based grant is based on the financial information you provide in your FAFSA. The maximum grant amount for the 2013-2014 academic year is $5645.
- Federal Supplemental Educational Opportunity Grant (FSEOG) – These grants are reserved for students with the greatest demonstrated financial need and are often awarded to supplement a Pell Grant.
- Illinois State Monetary Award Program (MAP) – Similar to a Pell Grant, this need-based grant is awarded to Illinois residents or dependents based on information submitted on your FAFSA.
- TEACH Grant – This federal grant is available to both undergraduate and graduate students who commit to teaching four years in a high-need field in a school serving low-income students. The TEACH Grant is for NLU students enrolled in an education program. For more detailed information, view the National Louis University TEACH Grant Information Sheet.
- Students interested in receiving the TEACH Grant should complete the online application here.
Questions? Contact Us
Don’t hesitate to contact the Office of Student Finance if you have any questions about your eligibility for NLU grant programs.