Financial Aid

Financial aid, also known as financial assistance, is a combination of scholarship, grants and loans obtained to assist a student in going to college. There are basically two types of financial aid:

Scholarship/grants - If eligible, a student does not have to repay this type of assistance.

Student Loan - Assistance you have to pay back after you graduate or drop below half time enrollment.

The application for federal financial assistance begins with completing the Free Application for Federal Student Aid (FAFSA).

The FAFSA is designed to collect student (and parent for dependent student) information such as income, household size and the number of people in your household who will be attending college. The information is then put into a formula that determines the level of financial need for the student and his or her family. The College of Nursing uses the result of this formula to determine which type of assistance the student is eligible to receive.

The FAFSA can be found online at Student Aid.gov. You can submit your FAFSA as early as October 2024 for the 2025/2026 academic year. We recommend you complete your 2025/2026 FAFSA no later than February 15th to maximize your financial aid opportunities.

• Locate or create you and your parent's FSA ID. Go online to FSA ID and follow the instructions. The ID number is a way to sign your FAFSA application electronically. New to 2025/2026, contributors without a social security number can create a FSA ID
• Determine if or which parent is considered a Contributor for the FAFSA.
• Find 2023 federal tax information for you and Contributor including net business and/or farm values

School code is 006240

Please note - Department of Education websites are not supported by internet explorer.

2025/2026 FAFSA completing process NEW

1. Student signs into StudentAid.gov and starts the FAFSA

2. After answering some questions, the student answers questions about their parent(s) to determine who should be invited to complete the parent portion (if applicable) of the FAFSA. An email invitation is sent to the parent(s) while the student finishes their portion of the FAFSA.

3. The parent or parents receive an email invitation and can log into StudentAid.gov to complete their portion of the FAFSA. Because the student and parent sections are separated (but still part of the same FAFSA), the parent(s) can work on their part while the student completes their part.

4. The student and parent(s) each sign and submit their portion of the FAFSA.

Once we receive a copy of your FAFSA, we will review it and contact you with the documents you will need to submit in order to complete for your financial aid file. When your file is complete, we will send you a financial aid notification packet by mail, which will include your direct student and/or parent (if applicable) loan paperwork. The booklet will outline the next steps in the process.

Please remember that you will have to complete the College of Nursing admissions process before we will process your financial aid application.

1. Pre-nursing hours must be completed and recorded in the College of Nursing Admissions Office prior to the disbursement of federal and state assistance.
2. Your award is based on the assumption you are an U. S. citizen or permanent resident. State residency has been determined from the information you provided to Saint Francis Medical Center College of Nursing.
3. The financial aid notification offer was determined in accordance with laws, regulations and appropriations (existing or anticipated) of the U. S. Congress, Illinois Legislature, Saint Francis Medical Center College of Nursing and other agencies. The award(s) are subject to adjustments or cancellations if changes occur.
4. The financial aid notification offer is based on financial information supplied by you and/or your family on the financial aid application. All award(s) are subject to adjustment or cancellation if your financial situation changes or if errors in the data are discovered.
5. As a financial aid recipient you must assume the responsibility of remaining aware of the program eligibility requirements and the policies which govern the approval, disbursement and use of the financial aid funds. You should be aware of the requirements which are specific to each financial aid program through which you receive funding. Contact the Student Finance office with any questions.
6. Students who are in default on student loans, have borrowed in excess of the loan limits or owe a refund to any Title IV program are not eligible for financial assistance.
7. Students must meet the Financial Aid Satisfactory Academic Progress Requirements to receive state and federal financial assistance.
8. Award amounts are based on your enrollment status. Differing enrollment hours may result in an adjustment to the award amount(s).
9. Dropping courses or withdrawal from Saint Francis Medical Center College of Nursing may critically affect your current or future financial aid eligibility. Students withdrawing from the College may be required to repay scholarships, grants or loans already received.
10. You must be enrolled in a degree-seeking program to receive federal or state financial aid. This includes Federal Pell Grants, Illinois Student Assistance Commission Monetary awards, and the Federal Direct Loan Programs.
11. Course credits not considered eligible for State and Federal Assistance at Saint Francis Medical Center College of Nursing:
    • Course credits transferred in from another institution or prerequisite courses.
    • Course credits received from Portfolio courses.
    • Course credits given for prior education or work experience.

Applications received after the dates below may have a processing delay.

• Fall 2025 – June 30 2025
• Spring 2026 – September 30, 2025

The Free Application for Federal Student Aid (FAFSA) collects income information for the prior, prior tax year. However, there may be special and/or unusual circumstances within your financial situation which are not reflected on your FAFSA. The student may qualify for a special and/or unusual circumstance which we may be able to consider for certain situations.

In the event the student and/or parent has special circumstances, the student may submit a Special Conditions Request with all supporting documentation. It is possible the student may need to complete verification before the special circumstances can be reviewed.

Special circumstances allow the financial aid administrator to revise data elements in the Cost of Attendance or the EFC calculation.

Examples of special circumstances:

• Loss of income for student, spouse, parent if more than 10 consecutive weeks
• One-time reduction in income such as a one-time IRA withdrawal
• Exceptional medical and/or dental expenses
• Death, divorce or separation of parents or spouse

Important application information

• File FAFSA
• Submit signed and dated (you and/or parent) explaining reason for special circumstances
• You may submit one special circumstance for one reason, per student, per academic year
• If your FAFSA is selected for verification, you must submit all required documentation prior to special circumstances being reviewed.
• The student must be admitted and meet all federal eligibility requirements when special conditions form is received.
• Processing can take 2-4 weeks from time all requested documents are received
• Student notified of final decision by mail.

Special circumstances request will not be considered for the following reasons:

• Voluntary loss/decrease of income
• Leaving a job to go to school
• Excessive consumer debts
• Private school tuition
• Daycare expenses

Unusual Circumstances

Department of Education regulations determine whether or not a student is independent or dependent. For a dependent student, financial aid eligibility is based on student and parent income information.

Financial aid administrators have the ability to change a student’s dependency status in cases where unusual circumstances exist.

Important Application Information

• File FAFSA
• Complete dependency override form
• Submit all required documentation
• The student must be admitted and meet all federal eligibility requirements when dependency override form is received
• Processing can take 2-4 weeks from time all requested documents are received
• Student notified of final decision by mail.

Examples of Unusual Circumstances Considered

• Victims of human trafficking
• Both parents deceased after filing FAFSA
• Parental abuse or abandonment
• Parents are incapacitated

Examples of Unusual Circumstances Not Considered

• Parents not supporting student’s education financially
• Parents do not claim you as a dependent on their tax return
• Student no longer living with parent

Please note the Student Finance office is not mandated to use professional judgment for these circumstances and neither are we limited to the situations listed above.

If you believe you have a special or unusual circumstance that affects your financial aid eligibility, please contact the Student Finance Office as soon as possible after submitting your FAFSA.

Verification is a review process in which the Student Finance Office determines the accuracy of the information reported by the student/parent on the Free Application for Federal Student Aid (FAFSA). The U.S. Department of Education selects certain applications to be verified by the College of Nursing. During the verification process the student and/or parent will be required to submit documentation to verify the FAFSA information. We compare the information on those documents and make any necessary corrections to the FAFSA. This process ensures the eligibility of all students receiving the federal and state assistance they are entitled to.

The documents we need in order to complete verification include the following:

• A completed verification worksheet, which will be mailed to you
• Copies of parent (if applicable) and student W2 statements and/or Schedule C

The Verification Worksheet collects data in relation to your family size size and untaxed income you and your parent/spouse might have. Student must complete and return the worksheet as designated by your letter.

Additional documents may be requested on a case-by-case basis.

At the College of Nursing, all financial aid applicants are required to submit an Institutional Application for Financial Assistance. You must submit all the required documentation before you are sent a financial aid notification offer.

You can find forms on the Forms page or contact the Student Finance Office.

Processing delays – Depending on the time of year, the verification process can take four to six weeks. The process can take longer if additional documentation is required to resolve conflicting information.

The College of Nursing does not require graduate students to complete verification.

Verification policies and procedures (for students selected)

Selected student:

Saint Francis Medical Center College of Nursing will verify all FAFSAs selected for verification by the federal government in an academic year. The College of Nursing may choose certain FAFSA filers in addition to the federal government if there is a reason to suspect the FAFSA information in inaccurate. The verification process must be completed before the student can receive any federal and/or state financial aid.

Notification

Students are notified of their selection for verification through the federal government on their Student Aid Report (SAR). The College of Nursing will also notify students through a Document Tracking Letter which will be sent to the student’s permanent address along with the required forms. Any correspondence with the student after the initial letter will be sent by email until the student’s financial aid file is complete.

Documentation:

The basic requirement for verification is completion of the Verification Worksheet Form. Specifics are required and requested for the individual verification groups as outlined by the Department of Education.

Deadlines for Verification Documentation:

Requested verification documentation should be submitted within 30 days of notification by the College of Nursing. Although the normal turnaround time for verification is two weeks, there will be delays if the students files their FAFSA or submits documentation in mid-June or July. The earlier the required documentation is submitted, the better chance of having financial aid awards in place prior to tuition due dates.

The College of Nursing will accept verification documentation after the 30 day window and after the dates above, however, the student and parent will be responsible for complying with all impending tuition and fee payment due dates. There is no guarantee from the College of Nursing that the verification process will be complete by the start of the term.

Corrections:

Saint Francis Medical Center College of Nursing will update and correct information on the FAFSA upon review of the documentation submitted by the student and/or parent. Corrections submitted by the Student Finance Office will be submitted electronically to the Department of Education for processing. Corrections will be communicated by the College of Nursing to the student through their financial aid notification offer.

Office of Inspector General:

If the College of Nursing suspects a student, employee or other individual misreported information or altered documentation to fraudulently obtain federal funds, the College will report the suspicion and provide evidence to the Office of Inspector General

For questions/concerns regarding applying for financial assistance or verification, please email the Student Finance office at (309) 624-9932 or (309) 655-4119.

Please see the "Forms" link on the website to download documents needed to complete your file.
Documents for verification may be submitted by fax or mail to:

Saint Francis Medical Center College of Nursing
Attn: Student Finance Office
511 NE Greenleaf St.
Peoria, IL 61603
Fax: (309) 655-3962

The OSF Saint Francis Medical Center TAPP is designed to provide educational assistance to selected qualified undergraduate nursing students who are enrolled at Saint Francis Medical Center College of Nursing (SFMC-CON) and are willing to commit to employment at OSF Saint Francis Medical Center (OSF SFMC) following graduation.

Students who have been approved as a Resident Assistant at the College are offered a $2250 per semester waiver.

The College does not participate in the College Work Study Program. However, many of our students have found employment at OSF HealthCare Saint Francis Medical Center. View a list of employment opportunities at OSF Saint Francis. If you are employed by OSF Saint Francis, you may be eligible for tuition assistance opportunities Read the frequently asked questions (PDF) and find out more about the Guild Program or visit osf.guildeducation.com to get started and apply for a program today!