Student Loans for Eastern Illinois University
About Eastern Illinois University
Founded as a teacher’s college, Eastern Illinois University has grown into a vibrant university with just about 10,000 undergrads, a strong campus community, and a surprisingly famous alumni base. It boasts its own daily, student-run newspaper, something of a rarity among colleges, and has been something of a breeding ground for football luminaries. Current head coaches Sean Payton and Mike Shanahan, of the Saints and Redskins respectively, were both Eastern Illinois Panthers, as well as former Vikings head coach Brad Childress and current Cowboys QB Tony Romo.
The application process for EIU Financial Aid is easy—easier than you’d expect, at least. There’s only one form you really need concern yourself with, and that’s the Free Application for Federal Student Aid (FAFSA). The FAFSA is your gateway to federal and institutional financial aid, and is pretty simple to fill out. Check out our guides on how to complete it so the process doesn’t have to be a headache. Once you submit your FAFSA to the EIU Financial Aid office, you’re good to go—you’ll hear back from the financial aid office in advance of your next tuition bill.
EIU Financial Aid Packages and Student Loans
The EIU Financial Aid program is strong, but not as robust as one might like. While the majority of students receive some form of financial aid from the university, there are still a good number of students left who need financial assistance. The good news is that since almost everyone at Eastern Illinois is in state, the total cost they need to cover is just about $11,000. While not small, this figure is really manageable in comparison to many other universities, and can be easily covered by both federal and private student loans.
Students who find themselves short of financial aid and in need of some additional funding to attend Eastern Illinois should exhaust all federal aid options first—federal loans have lower interest rates and more favorable terms than private loans. However, after federal loans, students may use private student loans to cover whatever financial gap may remain. To find, compare, and apply for private student loans for Eastern Illinois, check out our Student Loan Comparison Tool just above.
What is the policy for receiving a work-study position through the EIU Financial Aid department?
The EIU financial aid program offers students the opportunity to work at an on-campus job and obtain compensation through the federal work-study program. Students will be paid an hourly wage, and the amount they earn will be used to offset the cost of attendance, and a projected earnings amount is included in the student’s financial aid award. Wages earned by the student are given to them by the EIU Financial Aid department in the form of a paycheck every other week.
What student employment opportunities are available with Eastern Illinois financial aid?
The Eastern Illinois financial aid office offers federal work study opportunities to students. This program allows students to work on campus while enrolled, and to earn a decent wage that is used either directly against their tuition or to cover personal expenses. To take advantage of work study through the Eastern Illinois financial aid program, students are required to file the Free Application for Federal Student Aid (FAFSA) and must demonstrate a degree of financial need.
I’ve heard that I need to maintain ‘satisfactory academic progress,’ or SAP, to continue receiving Eastern Illinois University financial aid. What does this mean?
To continue receiving Eastern Illinois University financial aid, it is important for students to maintain satisfactory academic progress, or SAP. SAP is a simple benchmark requirement for students who are receiving Eastern Illinois University financial aid and states that students must maintain a GPA above a certain mark, and must take a minimum number of credits per semester. Failure to do so will result in suspension of financial aid awards; however, students can appeal against the suspension once they have met the minimum SAP requirements to resume financial aid.
Pay for Eastern Illinois University*
|Total Avg. Cost||$19,877|
|Room & Board||Not Avail.|
|Financial Aid Information|
|Students Receiving Fin Aid||78%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$8,786|
|%Receiving Other Loans||8%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics