Financial Aid

The Financial Aid Office at Touro College Illinois is here to assist you in understanding, applying for, and securing financing for your education, from the beginning of your academic career at Touro College Illinois to your post-graduate entry into the workplace. We want to take away some of the stress of navigating loans and funding for your education, so you can focus on learning.

The Financial Aid Office at Touro College Illinois operates in compliance with the Department of Education Financial Aid rules and regulations.

Eligibility Requirements

Please read the eligibility requirements outlined below to verify your qualification for federal financial aid. To qualify, you must:

  1. demonstrate financial need;
  2. be a U.S. citizen or an eligible noncitizen;
  3. have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau);
  4. be registered with Selective Service, if you’re a male (you must register between the ages of 18 and 25);
  5. be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;
  6. be enrolled at least half-time (6 credits) in courses leading to your degree to be eligible for direct Loan Program funds;
  7. maintain satisfactory academic progress (SAP) in your program of study;
  8. sign the certification statement on the Free Application for Federal Student Aid (FAFSA®) stating that
    1. you are not in default on a federal student loan and do not owe money on a federal student grant and
    2. you will use federal student aid only for educational purposes.

Application Process for 2020 - 2021

Step 1: Create a FSA ID

Step 2: Fill out a Free Application for Federal Student Aid (FAFSA)

The 2020-2021 FAFSA will use 2018 income.

Select school code 010142.

Do not select the “Will File” status. The Financial Aid Office will not award your financial aid until you have filed your federal tax return if you are required to file.

See other FAFSA filing help: The Two-Minute FAFSA Video, FAFSA Checklist, Married and filing a FAFSA8 Steps to Filling Out the FAFSA Form

Step 3: Submit Required Documentation and/or missing information.

You can view the missing information on TouroOne and will be sent emails to your Touro email address. For example: citizenship or verification documentation.

Note: "Terms and Conditions" only after you have been offered your federal financial aid for 2020-21.

Step 4: Check out the Cost of Attendance of your program.

The 2020-2021 Cost of Attendance (COA) budgets are available for all programs. These forms will assist you in determining the maximum amount you can borrow for your year in your program.

Step 5: Complete Entrance Counseling (incoming students or new loan borrowers only)

TouroOne may not reflect this information until you are able to accept your loan offers.

First-time Direct loan Subsidized/Unsubsidized and Grad PLUS borrowers at Touro College Illinois must complete Entrance Counseling before applying for student loans. Entrance Counseling is an online tutorial that teaches students about their rights and responsibilities as loan borrowers. Federal Loan Balances, will show on your dashboard when you log in.

Step 6: E-sign your Master Promissory Note (MPN) (incoming students or new loan borrowers only)

TouroOne may not reflect this information until you are able to accept your award offers.

First-time borrowers at Touro College Illinois must complete the Loan Agreement also known as the Master Promissory Note (MPN) with the Federal Student Aid website in order for their funds to disburse.

Your MPN can be signed using school code 010142. Students should complete both the 1) Subsidized/Unsubsidized Loan MPN and the 2) Grad PLUS Loan MPN. You can find more information about federal financial assistance programs loan interest rates and fees on our website and from the Federal Student Aid Information Center.

If you want to apply for a private student loan (credit-based non-federal) start at ElmSelect.

Step 7: Accept/Reduce/Decline your loan offers in TouroOne.

You will receive an email when your loan offers are ready to review.

 

Please note all loan funds are disbursed to the school and distributed after verification of:

* satisfactory academic progress

* registration in at least 6 credits for the semester that lead toward your degree.

If you have any questions please call the HelpDesk at 1-844-868-7666 or e-mail the HelpDesk at help@touro.edu.