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How much is the MAP grant?
Program Funding The 2020 fiscal year (July 1, 2019-June 30, 2020) appropriation for the Monetary Award Program (MAP) is $451,341,900.
What is the MAP grant?
The Monetary Award Program — MAP — is a grant program administered by the Illinois Student Assistance Commission (ISAAC), and funded by the State of Illinois. MAP provides payment toward college tuition and mandatory fee costs at Illinois institutions that participate in the program.
How many credit hours do you need for MAP grant?
For a MAP eligible traditional student, the initial Financial Aid Award assumes the student will be enrolled for a minimum of 15 credit hours each semester. Your MAP amount may be lower depending on your EFC.
What is state of IL map Grant est?
State of IL MAP Grant (EST) is a grant provided by the state for Illinois students attending Illinois colleges. The data provided on the Free Application for Federal Student Aid (FAFSA) is shared with the state who calculates the student award.
How much is the IL map Grant?
Program Funding The 2020 fiscal year (July 1, 2019-June 30, 2020) appropriation for the Monetary Award Program (MAP) is $451,341,900.
Is MAP grant taxable?
Any portion of your Well grant that is not spent on qualified education expenses is required to be reported as income on your tax return. ... If you use your Well grant to pay for room and board charges, or to travel to your permanent home on weekends or holidays, then the amount will be considered taxable income.
What is the state of IL map Grant?
The current maximum award for 2019-2020 is $5,340 for full-time enrollment (15 credit hours per term), and may be less for students enrolled in fewer than 15 credit hours. The award is restricted to tuition and mandatory fees. For complete information on the Illinois MAP Grant, visit Isaac.org.
What is monetary grant?
Grant (money) ... Grants are non-repayable funds or products disbursed or given by one party (grant makers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual.
What is MAP grant?
The Monetary Award Program (MAP) provides grant assistance to eligible students demonstrating financial need. MAP grants are applied toward tuition and mandatory fees for undergraduate students, not to exceed the maximum award amount for the academic year.
How does the MAP grant work?
MAP grants, which do not need to be repaid, are available to eligible Illinois residents who attend approved Illinois colleges and demonstrate financial need, based on the information provided on the FAFSA. ... The formula distributes the appropriated funds so that the neediest students receive grant assistance.
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