Financial Aid Advance Program

Administrative Procedure 4.301

Elgin Community College has established a financial aid advance fund to help enrolled students who may need a small, short-term advance on their excess aid to meet educational-related financial obligations. The fund will be administered through the Financial Aid and Scholarship Office, which will develop procedures using the following guidelines:

1. Financial Aid Advance applications may be obtained in the Financial Aid and Scholarship Office.
2. The maximum advance allowed is $500 or up to the estimated amount of aid, whichever is less.
3. The advance, under the discretion of the Director of Financial Aid, must be for needs directly related to the student's successful completion of his/her academic pursuits.
4. No advance will be made to satisfy other outstanding financial obligations with Elgin Community College. Any outstanding financial obligations must be paid before being considered for a Financial Aid Advance.
5. Advances must be repaid before the end of the academic term in which they were issued.
6. If the advance remains unpaid at the end of the term, the student’s account will be assessed a late fee.
7. Each student may receive no more than one advance per term.
8. To qualify, the student must have a cumulative grade point average of 2.0 or higher.
9. To qualify, the student must be enrolled in at least six (6) credit hours for the current term.
10. Students with an outstanding financial obligation at the end of the semester for any reason may be restricted from enrolling in future terms.

This policy was last reviewed on 08/18/2025.