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 financial aid to meet the financial obligations of their education. The fund will be administered through the Financial Aid and Scholarship Office, which will develop procedures using the following guidelines:

• Financial Aid Advance applications may be obtained in the Financial Aid and Scholarship Office.
• The maximum advance allowed is $500 or up to the estimated amount of aid, whichever is less.
• The advance, as determined by the Director of Financial Aid, must be for needs directly related to the student's successful completion of his/her academic pursuits.
• 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.
• Reasonable extensions of advances must be arranged through the Director of Financial Aid in advance of due dates, but in all cases the advance must be paid by the end of the term. If the advance remains unpaid at the end of the term, the student’s account will be assessed a $25.00 late fee, sent to a pre-collection agency, and have all College services suspended.
• One advance per student, per term.
• The student must have a cumulative grade point average of 2.0 or higher.
• The student must be enrolled in at least 6 credit hours for the current term.