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What's New in Financial Aid

FAFSA Simplification and IRS Data Exchange continues ... 

The Application is open for US citizens, permanent residents and eligible non-citizens. For 2026-2027, eligibility is determined within the Fall 2026, Spring 2027 and Summer 2027 semesters.

Students are encouraged to submit the Free Application for Federal Student Aid (FAFSA®) or the Alternative Application for Illinois (RISE Act Application) as soon as possible after the applications become available prior to the scheduled October 1 launch.

Prior to submitting the 2026-2027 FAFSA students will need to be familiar with three terms:

  1. FTI - Federal Tax Information (direct data exchange from the Internal Revenue Service)
  2. FTI Consent - Permission for the U.S. Department of Education to use direct tax information from the Internal Revenue Service; without FTI Consent a student eligibility index cannot be determined
  3. FTI Contributors - All contributors need an FSA ID to provide FTI Consent. FTI Contributors include:
    • Applicant or student
    • Applicant parent(s) - only for dependent students
    • Applicant spouse - only if taxes are not filed jointly

In preparation for the FAFSA, make sure all FTI Contributors have an FSA ID.

Paths to Financial Aid Success

Step 1: FAFSA

Your path to financial aid begins with filling out the Free Application for Student Financial Aid (FAFSA). It takes about 30 minutes to complete online. Upon submission of the application, eligibility will be determined for federal and state assistance (grants, loans, and work study funds).

Step 2: Apply for Institutional Scholarships 

Step 3: Apply for Private Scholarships 

Illinois AIM HIGH Grant: Your Future Starts at Northeastern

Northeastern Illinois University is launching the Golden Opportunity Scholarship in partnership with Illinois' AIM HIGH Grant Program. This State program started in the 2019-2020 award year. Northeastern is bringing excellence to our students; with AIM HIGH, students can significantly reduce and possibly offset tuition and fees costs. The AIM HIGH Grant will be available to incoming freshmen who attended an Illinois high school, are Illinois residents and have a GPA of at least a 3.0. AIM HIGH will be available for eligible students throughout their time at Northeastern for a maximum time frame of four award years; students must also continuously meet the eligibility requirements.

City Treasurer's Hispanic Heritage Month Scholarship

Chicago City Treasurer Melissa Conyears-Ervin is proud to announce the 2020 Hispanic Heritage Month Essay Contest. This scholarship recognizes a senior in high school who has displayed outstanding academic achievement or community involvement and writes a thoughtful and impactful essay (500 words) on a topic related to Hispanic Heritage Month. Participating students must also provide a description of their college plans. Winners will receive a $1,500 and $1,000 award, respectively. This opportunity is open to DREAMers as well.

Students can apply at the CPS Academic Works website or submit their essay and other required materials to citytreasurerevents@cityofchicago.org. Submit applications by Oct. 15.

How the OB3A impacts 2026-2027 Federal Direct Loan eligibility

  1. Limits for New borrowers in the Parent Loan for Undergraduate Students (PLUS)

    The annual limit (fall, spring and summer) per student is $20,000; the aggregate borrowing limit is $65,000

  2. Limits for Graduate (master's) degree and Professional program borrowers

    GRADUATE Master's - The annual limit (fall, spring and summer) is $20,500; the aggregate borrowing limit is $100,000 (including loans received for undergraduate study).

    PROFESSIONAL Programs - The annual limit (fall, spring and summer) is $50,000; the aggregate borrowing limit is $200,000 (including loans received for undergraduate study).

    The Department of Education defines a graduate/professional as a student who:

    1. is enrolled in a two-year program that is above the baccalaureate level or leads to a first professional degree AND 

    2. has completed the equivalent of at six 6 academic years of full-time study at an institution of higher education AND

    3. is enrolled in a preparation program for a licensed occupation. These programs include: Pharmacy, Dentistry, Veterinary Medicine, Chiropractic, Law, Medicine, Optometry, Osteopathic Medicine, Podiatry, theology and Clinical Psychology. 

  3. Elimination of Graduate PLUS for New Borrowers

    This includes Graduate Master's students who have reached their maximum timeframe for satisfactory academic progress purposes.