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Financial Information & Planning

Understanding the financial aspects of education is essential for planning your future. This page provides information on financial aid options, scholarships, and resources to help students and families make informed decisions. Explore the available resources and support to ensure a smooth path to achieving your educational goals.

FAFSA (Free Application for Federal Student Aid)

What is FAFSA?

FAFSA Guidelines Video: What is FAFSA?

  • FAFSA = Free Application for Federal Student Aid
  • It's the form students fill out to find out how much money they can get to help pay for college or career school.
  • Money can come as grants (free money), scholarships, work-study jobs, or loans.
  • This is the first step in the negotiation process for college.

Why Should Everyone Apply?

  • Its free to apply.
  • Many families think they won't qualify, but most students get something.
  • Colleges, states, and even some scholarships require FAFSA to be considered.
  • You won't know what you can get unless you fill it out.

Key Details Parents Need to Know

  • The form opens every year, usually in the fall, for the next school year.
  • Both student and parent info are needed (income, tax info, Social Security number, etc.)
  • You'll need to create a FSA ID (a login) for both parent and student before starting.
  • FAFSA is used for 2- and 4-year colleges, trade schools, and career programs.
  • Deadlines matter: federal, state, and college deadlines can all be different.
  • Even if your student isn't sure about college, filling it out keeps options open.

FAFSA Non-Participation Form

Starting with the  2020-21school year, to receive a diploma from a public high school in Illinois, a student must complete the Free Application for Federal Student Aid (FAFSA) or, if applicable, the Alternative Application for Illinois Financial Aid. Local school district staff must provide support and assistance to students and parents/guardians in the application process. Additional assistance with completing an application is available from the Illinois Student Assistance Commission. 

Alternatively, a parent/guardian must file a waiver if they choose to opt a child out of this graduation requirement by completing this Non-Participation Form; students who are at least 18 years of age or legally emancipated may complete the form themselves. If you or your student wish to opt out of the Financial Aid Application graduation requirement, students can complete the online form on ISAC’s website. This form closes and reopens each school year. Typically it opens after January 1. 

Who Should Opt-Out?

  • Those going straight to the workforce.
  • Those enlisting in the military.
  • Those attending a GAP year program.
  • Those attending an apprenticeship program.

All other persons should plan to complete the FAFSA.

If a student is at least 18-years old, they can complete the form. If a student is under 18-years old, a parent must complete this form on the student's behalf. If a student is an emancipated minor, they will need to complete the paper non-participation form, which can be requested by emailing fafsa@isbe.net.

Financial Aid Tips

The Alternative Application - Financial Aid for Undocumented Students

The Illinois RISE Act, allows undocumented students to apply for state financial aid. This is important, as undocumented students cannot apply for federal financial aid via FAFSA. Students who are citizens but whose parents are not may submit the FAFSA.

Undocumented Illinois students may be able to complete the Alternative Application for Illinois Financial Aid depending on the status of recent federal legislation. 

Scholarships

Scholarships are money that does not need to be paid back. They can come from the college itself or from an outside organization. Some scholarships are automatic merit scholarships from a college and others a student may need to apply for in order to be considered. Look at a college's website to see what scholarship opportunities are available.

Local Scholarships

Local scholarships are posted on SchoolLinks, under Scholarship Matching, for students to view. In the fall of their senior year, students can begin looking for scholarships in SchoolLinks. Local and targeted opportunities that we are made aware of will be posted in the Finances section of SchoolLinks, under the Scholarships heading.

Video paying for Education: Scholarships

Third Party Scholarships

Students can also use third party scholarship search websites to find other scholarship opportunities. Below are sites that previous students have used with success. Woodstock and Woodstock North High Schools do not endorse any third party scholarship websites. They are provided as a starting point for students and families, if they would like to use them.

If you decide to use any of the above websites, here a some tips.

  • You do not need to sign-up for any/all of these sites. If you decide to utilize these resources, we recommend choosing one so not to be overwhelmed and to prevent overlap of scholarship opportunities.
  • If it sounds too good to be true, it probably is. The more work a scholarship requires of a student, the more legitimate they tend to be.
  • We strongly recommend creating a separate email address to use for applying to colleges/scholarships. Inevitably, student information is repurposed. By using a separate email address, it will prevent clutter in your main inbox and give you focus and purpose when checking that dedicated email inbox.
  • Don't ever pay money to get money.

QuestBridge National College Scholarship Match

QuestBridge's National College Match is a combination college-scholarship application for academically distinguished high school seniors with demonstrated financial need. The maximum award is a 4-year scholarship to cover the entire cost of attending college.

Scholarship Details

  • You can apply to over 55 colleges for free with QuestBridge's National College Match application.
  • The application encourages students to explain their financial and academic circumstances.
  • Recipients are connected to a network of QuestBridge alumni for further support.
  • Application opens late summer.

Eligibility Criteria

  • U.S. Citizen or permanent resident
  • High school senior
  • Enrolled in challenging courses and earning mostly A's
  • Writing skill and academic drive to succeed
  • Low-income household

Application Process

  • Create an applicant profile on QuestBridge's website
  • Fill out the application when it opens
  • Upload all required documents, including proof of financial need and supplemental essays
  • Submit the application in advance of the deadline

QuestBridge was founded in 1994. Over 17,000 QuestBridge finalists have matched with partner colleges, an honor that permits attendance with a full-tuition scholarship for all four year colleges.

More on QuestBridge

Financial Information Resources