What MAP Grant funding means to you: Understanding your financial future

Over 6,000 UIC students rely on a Monetary Award Program (MAP) grant, aid from the Illinois government given through the Illinois Student Assistance Administration (ISAC) to students in the greatest need of financial assistance.

When the Illinois State budget was passed in July, it did not allocate adequate funding for the ISAC to support it's grant and scholarship programs. The UIC Office of Student Financial Aid was notified in late July that roughly $6.5 million of $13 million, to be given to MAP recipients would not be available in the spring semester. An urgent letter was sent out with information on the situation.

"ISAC basically wasn't given enough money to fully fund all of it's programs," says Tim Opgenorth, Director of the UIC Office of Student Financial AID, "The MAP grant goes to the neediest of Illinois students,". The major concern is that without MAP funding, many of the 6059 students relying on MAP funding won't be able to come back for the spring semester because an additional $2,484 dollars won't be available to help pay tuition costs. It is not known how many students may have to not come back in the Spring next semester due to this cut. "It's the big unknown," says Opgenorth.

The biggest reason UIC students should be concerned is the precedent this may set for Illinois legislators. If only a small amount of MAP students drop out, policy makers in the Illinois government may see it as reasonable to further cut aid funding if they think that students can manage to survive on their own.

Governor Pat Quinn will hold a Town Hall Meeting in the Chicago Rooms of Student Center West on Tuesday, September 29th, at 2 p.m. To discuss solutions for the MAP situation. The Office of Financial Aid is urging not only map recipients, but also any student concerned about access to government money for education. Bring your questions and concerns to the meeting as well as any friends. There is strength in numbers.

The Stats:

6059 students of the greatest financial need are currently relying on MAP grants

$4,968 dollars was the maximum amount a MAP student could receive for a year.

Since July 30th, that number is now $2,484. ISAC bases the award on a family contribution ranging from zero to $7,500 Dollars.

Making Sense of it All

Work study? Unsub, sub? Grants? To college students, these three things are what we have most in common on our award letters. So, for new UIC students, what does it mean?

Grants- The government (or any generous organization), will basically subsidize you so you can further grow that beautiful slimy thinking machine in your head.

Work Study- UIC receives about $1.6 million dollars annually for it's federal work study program. If you qualify for this, you can work ten to fifteen hours per week for the school with the government paying 65 percent of your paycheck and UIC covering that last 35. This ends up getting you a cool three grand and some work experience to put on your resume.

Unsubsidized and Subsidized Loans - This one is simple. Your "Federal Direct Sub-Loan," usually amounts to about $3,500. The Federal government pays the interest on this saving you some money. Your unsubsidized loan will get you $2,000 dollars but you have to pay some interest on it after college. Throughout your college career, the government may loan you up to $30,000. This tidy sum is to be payed back after you graduate and find a job.