Information about Financial Assistance Scholarships and Grants Augustana Financial Assistance Grants are given to students demonstrating financial need. Application is made by completing the FAFSA and the AAIFA. Alumni Scholarships are $1,000 awards made to students whose parent(s) are alumnae/alumni of Augustana College. American Daughters of Sweden Scholarship is a one-year award granted by the Chicago Chapter of the American Daughters of Sweden, and awarded to young women of Swedish descent. Recipients enroll in a Swedish language course. Art Scholarships up to $2,000 are awarded to selected students after review of their portfolios. Scholarships may be renewed with the recommendation of the Art Department. Dean’s Scholarship ($6,000-7,000). Awarded to students with outstanding academics who are not selected for the Presidential Scholarship. Students must maintain good academic standing for renewal. Debate Scholarships up to $2,000 may be awarded to students on the basis of proficiency in debate as recommended by the Speech Communication Department. Deisenroth Music Scholarship up to $4,500 will be awarded each year to one new student who need not be a music major. These renewable scholarships are awarded based upon an annual music audition. Family Allowance Grants. Students from families that have two or more children enrolled full-time at Augustana are given a $3,000 family allowance in their financial assistance package. The grant is not available to husband and wife or when a parent and child are enrolled. Students with academic awards less than $6,000 will have their academic award reduced by half while receiving the family allowance. For students receiving an academic award of $6,000 or greater, the family allowance plus the academic award will not exceed the total value of the academic award. Students who have completed a degree program or have completed 12 terms of attendance are not eligible for this grant. Illinois State Monetary Awards are available to residents of Illinois who qualify based on financial need. Application is made by completing the FAFSA. Augustana Lutheran Brotherhood Scholarships. Eligible Lutheran students will receive up to $1,000 per academic year for four years. Students receiving $1,000 or more in gift assistance from any other source (state, federal or Augustana aid programs) are ineligible for this award. To be considered for the scholarship, the student’s pastor must send a letter to the Office of Financial Assistance prior to June 1 indicating the student is a member in good standing in the church. Music Scholarships up to $2,000 are awarded to talented students (including non-majors) on the basis of auditions held on campus. Awards are renewable based on recommendations from the Department of Music. Naeseth Writing Awards up to $1,000 are available to first-year students who show promise as writers and intend to major in English. Applicants should submit three pieces of original writing to the Department of English. Contact the English Department for an application. Federal Pell Grants are calculated and awarded by the Federal Government according to an eligibility formula determined by the Department of Education. Application is made by completing the FAFSA. Founders Scholarship ($5,000). Awarded to qualified students based on previous academic performance. Students must maintain good academic standing for renewal. Presidential Scholarships up to full tuition are awarded to students who demonstrate exceptional academic ability. Award determination is based on high school grade-point average, class rank, ACT or SAT scores, leadership qualities, community involvement, and extracurricular activities. Completion of a separate Presidential Scholarship application and a campus interview are required. Scholarship renewal requires a 3.20 Augustana cumulative G.P.A. Rissing Scholarships of up to $9,600 will be awarded each year to students who wish to prepare for church services in the Evangelical Lutheran Church of America. Award is renewable annually by maintaining a 2.5 Augustana cumulative grade-point average. Federal Supplemental Education Opportunity Grants (SEOG) for needy students come from the Federal Government but are determined by Augustana. Application is made by completing the FAFSA. Theatre Scholarships up to $2,000 are awarded to exceptional individuals pursuing interest in performance, technical theatre, dance, and playwriting or criticism. An on-campus audition is required. Awards are renewable based on recommendation from the Theatre Arts Program. Loans Federal Parent Loan for Undergraduate Students (PLUS). This loan is secured through a local bank, credit union or savings and loan association. Parents may borrow up to the cost of education minus other aid. Payments begin 60 days after the loan is dispersed. The borrower may take up to 10 years to repay at the current annual variable interest rate (rate equals the 52-week Treasury Bill rate plus 3.1%, capped at 9%). Federal Perkins Loans are federally-funded loans disbursed through Augustana. The Perkins Loan is interest-free for the duration of a student’s educational program. Repayment does not begin until nine months after college enrollment ends. The Perkins Loan is repaid over a 10-year period at an annual interest rate of 5%. Eligibility is determined by completing the FAFSA. Subsidized Federal Stafford Loan. This loan is available for students needing assistance. Eligibility is determined by completion of the FAFSA. Loans can be secured through a bank, credit union or savings and loan association. First-year students are eligible to borrow up to $2,625 per academic year. Sophomores are eligible to borrow up to $3,500 per academic year. Juniors and seniors may borrow up to $5,500 per academic year depending on calculated eligibility. The loan is interest free during the duration of the student’s educational program. Repayment begins no later than six months after graduation or cessation of at least half-time study. Payments are made over a 10-year period at a variable interest rate with a cap of 8.25%. Unsubsidized Federal Stafford Loan. This loan is available for students who do not qualify or partially qualify for the subsidized Federal Stafford Loan. Eligibility is determined by completion of the FAFSA. Loans can be secured through a bank, credit union or savings and loan association. Students may combine both unsubsidized and subsidized loans up to the program maximum (see Subsidized Federal Stafford Loan for program maximums). The Unsubsidized Federal Stafford Loan requires the student to pay the interest on the amount borrowed from the date funds are disbursed. Repayment of principal begins no later than six months after graduation or cessation of at least half-time study. Payments are made over a 10-year period at a variable interest rate with a cap of 8.25%. Employment Federal College Work Study (CWS) jobs let students earn money while enrolled in college up to $1,350 per year in CWS eligibility if financial need is demonstrated. To earn $1,350 during the academic year requires working approximately eight hours per week Return to Application Menu