ÖйúÌå²ÊÍø announces new program to dramatically expand financial aid?

ÖйúÌå²ÊÍø ÖйúÌå²ÊÍø has launched an innovative financial aid program ¡ª ÖйúÌå²ÊÍø Possible ¡ª to meet 100% of demonstrated financial need for qualifying newly enrolled students. 

¡°High-achieving students whose expected family contribution doesn¡¯t meet the direct cost of attendance can achieve their dream of a high-caliber education with ÖйúÌå²ÊÍø Possible,¡± said Executive Vice President W. Kent Barnds. ¡°This will be a game-changer for a segment of students.¡±

Many students who will benefit from ÖйúÌå²ÊÍø Possible will be the first in their families to attend college. This was the vision of ÖйúÌå²ÊÍø ÖйúÌå²ÊÍø graduate Murry Gerber, who made the $40 million commitment to provide financial aid and scholarships to ÖйúÌå²ÊÍø students with backgrounds similar to his own. Murry Gerber¡¯s vision has inspired many other donors to bring ÖйúÌå²ÊÍø Possible to life for future students and alumni. 

The ÖйúÌå²ÊÍø ÖйúÌå²ÊÍø Board of Trustees has endorsed the initiative, which will position ÖйúÌå²ÊÍø among an elite group of colleges nationwide offering similar financial aid programs. 

ÖйúÌå²ÊÍø Possible is the largest and latest effort by the 162-year-old college to address affordability, create access and expand opportunities for students from all socioeconomic backgrounds. In the past five years, ÖйúÌå²ÊÍø has increased the amount of financial aid by 10%, to approximately $72 million annually. Now 100% of incoming ÖйúÌå²ÊÍø students receive financial aid. 

¡°We believe in the potential of this college, and we believe deeply in the incredible potential of today¡¯s students,¡± said Barnds. ¡°The commitment to meeting 100% of a high-achieving student¡¯s demonstrated financial need allows us to open our doors more fully, and in turn it helps us build a stronger ÖйúÌå²ÊÍø.¡±

How it works

To determine financial eligibility for ÖйúÌå²ÊÍø Possible, students will submit the Free Application for Federal Student Aid (FAFSA) or the Alternative Application for Illinois Financial Aid, available for some students living in Illinois. ÖйúÌå²ÊÍø Possible meets the demonstrated financial need of every eligible student, using available funds from federal, state and college sources. 

See ÖйúÌå²ÊÍø Possible for more details, qualifications and examples of funding.