Section 595.210  Determination of Financial Need

a)         Financial need will be determined by subtracting the student's financial resources, consisting of all gift assistance from the college budget submitted by the institution the student will attend.

1)         The "college budget" is comprised of tuition, fees and college living expenses as determined by the institution the applicant will attend.

2)         "Gift assistance" is the total of all other financial aid awarded to a student such as scholarships, grants and loans, including tuition reimbursement from employers.

b)         After applying the formula described above, those applicants that have a financial need greater than zero will be considered to have demonstrated the requisite financial need.

(Source:  Amended at 12 Ill. Reg. 3757, effective February 1, 1988)