No Place So Close Can Take You So Far

Advantages to Starting at IVCC Quality faculty who specialize in teaching . Small Class Size Low cost Availability of assistance/mentoring through Disability Services, Project Success, Career Services , Financial Aid and the Counseling Departments. Transferable Credit – AA and AS degree completers transfer to Illinois colleges at the junior level. Career Programs Reduced need for student loans.

Average Yearly Costs Northern Illinois State Aurora IVCC Tuition/Fees 12,847 13,563 23,260 3,900 Room/Board 10,776 9,850 10,070 Books/Supplies 1,200 Total Charges 24,823 24,613 34,530 5,100

Student Loan Debt. Depending on what surveys you read… the average student loan debt for a four- year education is estimated between $25,000 - $35,000. Parents often carry additional debt from PLUS loans on average of $22,000 With loans being a common necessity to cover educational expenses it is important for both student and parent to know their repayment comfort level.

Student Loan Costs Starting at 4-Year Starting at 2-Year Loan Balance $27,000.00 Monthly pmt. $279.17 10 years @ 4.45% Total interest pd. $6,500 Yearly salary to support student loan repayment (based on 8% of income) = $41,875 Loan Balance $15,000.00 Monthly pmt. $155.11 10 years @ 4.45% Total interest pd. $3,611 Yearly salary to support student loan repayment (based on 8% of income) = $23,265

IVCC Foundation Scholarships IVCC offers over 200 scholarships to new and returning students. In December the applications will be available from your School Counselor’s Office or can be printed at www.ivcc.edu/foundation Friday February 09,2018 is the estimated deadline to return the IVCC Foundation application & essay. Applicants for Foundation scholarships must file also 2018-2019 FAFSA by February 09, 2018

Special Circumstances / Professional Judgment Financial aid is based on the premise that what you made in the 2016 tax year is a good reflection of your available income in the coming 2018 year. If your family income for 2018 will be significantly less due unemployment, divorce, death, one-time income, excessive medical bills or some other reason… Please speak with a financial aid advisor at your college. Financial aid advisors can, on a case by case basis, alter your FAFSA application to reflect your estimated current year income instead of your prior-prior year’s earnings from the tax return. You must first complete the FAFSA using actual 2016 tax information before a financial aid advisor can make any alterations.

Chicago Tribune Article by Gail Marks Jarvis 8/13/17 “If you aren’t sure college is for you, consider this: You don’t have to get a four-year degree to make a good living”. “Anthony Carnevale, director of the Georgetown center, has found that 28 percent of people who get associate degrees from community colleges end up with better jobs than those with bachelor’s degrees”. “Associate degrees can sometimes take people further, provided the degree isn’t general in nature and focuses on particular skills that are in high demand, such as nursing, computer specialist or mechanical technicians”. “The researchers identify good jobs in blue-collar categories ranging from welders, plumbers, heating mechanics, electricians and carpenters to skilled services such as bookkeepers, food service managers, security guards and industrial production managers”.

Best AdviCe for Students File early for financial aid. IVCC recommends filing the FAFSA by November 15, 2017. However, you need to check with your college to find out their deadline dates. Check with the Admission’s Office at each school to find out what scholarships might be available. Compare Financial Aid Award Letters by subtracting only the grant money from your direct costs (tuition, fees, room & board and est. books) to find your actual out-of-pocket expenses. Talk to a Financial Aid Advisor if there is a substantial change in the family’s financial situation .

BEST ADVICE FOR Parents Be honest with yourself and your child on how much you can give yearly for educational expenses including books. Are you willing to take out PLUS loans and for how much. Check college websites for estimated costs. Check out student loan calculators for estimated repayment information.