Types of Financial Aid
Scholarships and Grants
Scholarships and grants are gifts that do not have to be repaid. They are awarded by Knox, outside agencies, and state and federal goverments.
- Knox College Scholarships
Knox offers a variety of scholarships -- up to full tuition -- that recognize your academic achievements, creative talents, service, and leadership.
- Private and Outside Scholarships
Knox isn't the only possible source for grants and scholarships. Community organizations and foundations often have scholarships available.
- Federal Grants
The Federal Pell Grant and Supplemental Educational Opportunity Grant programs provide need-based grants to low-income undergraduate students to promote access to postsecondary education. Eligibility is determined by your FAFSA results.
- State Grants
The State of Illinois Monetary Award Program (MAP) provides grant assistance to eligible Illinois residents demonstrating financial need as determined by the
- Knox College Grants
Students may be eligible for grant funds from Knox College based upon financial need. Eligibility is determined by your FAFSA results.
- Veteran's Benefits
Knox College is a proud participant in the Yellow Ribbon Program, a provision of the Post-9/11 Veterans Educational Assistance Act of 2008.
Campus employment and work study awards give you priority for campus jobs. Eligible students can work up to 10 hours per week and earn up to $2,475. Most work award recipients use their earnings to pay for personal expenses, books, and supplies. A list of campus jobs available to students is available in the Job Bank.
We offer a number of loan programs to help you finance college costs. Loans -- unlike gift aid -- have to be paid back. Learn more about loans and financing options.
- Subsidized Loans
Subsidized loans are awarded based on financial need. You will not accrue interest or start payments until you've been out of college for six months. Federal Direct Stafford Loan maximums are $5,500 for first-year students, $6,500 for sophomores, and $7,500 for juniors and seniors.
- Unsubsidized Loans
Unsubsidized loans are available for students who do not qualify for subsidized loans based on need and students whose parents are ineligible for the Federal PLUS Loan.
- Federal Perkins Loans
Perkins loans are usually reserved for students with greater financial need. The maximum award is $5,500 per undergraduate year, and you will not accrue interest or start payments until you've been out of college for nine months. Eligibility for the Federal Perkins Loan program is determined by Knox College.