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Types of Financial Aid

Grants, Scholarships, Work Study, Loans

Learn more about the types of aid that may be available to you.

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 governments.

  • Knox College Scholarships
    Knox offers a variety of scholarships 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 them. Review details about the MAP Grant, including eligibility and limitations. 
  • 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 proudly participates in the GI Bill® and the Yellow Ribbon program. The Post 9/11 GI Bill® pays for tuition and fee charges at eligible institutions of higher learning. The tuition and fees cap covered by the Post 9/11 GI Bill® for the 2025-26 academic year is $29,920.95. Once that amount has been disbursed by the VA, any remaining tuition and fee charges for that term or subsequent terms are then eligible for the Yellow Ribbon Program (subject to the student's eligibility). Knox College is committed to support Yellow Ribbon-eligible tuition and fee charges, which is then matched by the VA. 

Campus Employment

Student 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 $4,000. Most work award recipients use their earnings to pay for personal expenses, books, and supplies.

Loans

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. The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you're in school at least half-time, for the first six months after you leave school (grace period), and during a period of deferment. 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 even if the student does not demonstrate financial need and students whose parents are ineligible for the Federal PLUS Loan.

More Resources

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). Visit the U.S. Department of Veteran Affairsfor more information about education benefits offered by VA.