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KCC > Future Students > Paying for College > Financial Aid > Types of Financial Aid

Types of Financial Aid

Three types of financial assistance make up the majority of aid provided by the federal government and the state of Illinois: grant assistance, loan assistance and work study assistance.


Grants are forms of financial assistance that do not have to be repaid. They are provided for students from limited-income families.

Pell Grant

This is a federally funded program that provides assistance for any educational expenses based on need, academic load, length of enrollment and cost of education. Awards range from $606 to $5,920 per year.

Supplemental Educational Opportunity Grant (SEOG)

This is a federally funded program for students who demonstrate exceptional need and are Pell eligible. Awards range from $150 to $300 per semester and can be used for any educational expense.

MAP Grant

This is a state-funded program that provides assistance toward the cost of tuition and service fees. Awards range from $285 to $1,733 per year, and fluctuate as funding runs out. It is extremely important to apply as early as possible for this award, since funds are limited. The Illinois Student Assistance Commission(ISAC) is suspending the announcement of 2017-18 Monetary Awards Program(MAP) grants for all students whose initial 2017-18 FAFSA is received by the Central Processing System(CPS) on or after January 16, 2017.


Loans are federally funded sources of assistance that must be repaid with interest. Please refer to the Department of Education's publication Federal Student Loans: Basics for Students for further information regarding Federal Student Loans.

Federal Stafford Student Loan

Students may qualify for a "subsidized" Federal Stafford Loan based on financial need. Students may qualify for an "unsubsidized" Federal Stafford Loan regardless on other criteria.

Dependent students may borrow up to $5,500 as freshmen for full-time enrollment and sophomores up to $6,500 for full-time enrollment. Independent students may borrow up to $9,500 as freshmen and sophomores up to $10,500 (again for full-time enrollment). Loans are prorated for 3/4 time and half-time enrollment each term. These loans are repaid starting six months after you graduate from college, leave school or drop below half-time student status.

Students who are enrolled half time, meet standards of satisfactory progress and meet need requirements may be eligible for these loans. The current interest rate for 2016-17 is 3.76% for Stafford Subsidized loans and 3.76% for Stafford Unsubsidized loans. KCC's Loan Policy and Loan Maximum Borrowing Chart Prorated for Enrollment are available in the Financial Aid Forms section of this web site. Click on the "Financial Aid Forms" tab to get more information under the Stafford/PLUS loans section.

For more information on federal student loan interest rates and repayment, please visit the Federal Student Aid webpage by clicking here

Federal PLUS Loan

These loans provide for parents who want to borrow to help pay for their children's educations. The current interest rate for 2016-2017 is 6.31% for this type of loan. A Parent PLUS Loan Application is available by contacting the KCC Office of Financial Aid; Parents must also request a PLUS Loan at for an updated credit report to be considered.  

Work Study

Federal Work-Study (FWS)

Provides jobs for students who have applied for financial aid and are eligible to work as part of their financial aid award package. Participating students work on or off campus; money earned is paid to the student. FWS students must be enrolled at least half-time. For more information, please visit the Student Employment page for details.

Regular student employment

Visit the Student Employment page for details.

For further federal and state financial aid information, visit