Welcome to Student Finance
What makes our Student Finance Office different is the individual attention we are able to give every student.
The financial aid offered by Saint Francis Medical Center College of Nursing is not like any other. Unlike larger institutions, we don’t just give you forms to fill out. We can connect you to a wide variety of resources.
Because of our deep roots in the community, we help our students access a wide variety of outside resources, from public and private agencies to generous individuals, clubs and organizations. In addition, a variety of scholarships, grants and loans are available from many community organizations, civic and religious groups, foundations and government agencies.
The College of Nursing participates in the Federal Pell Grant, Federal Family Loan Programs, the Illinois Student Assistance Commission Monetary Award Program (MAP), the Veterans Educational Benefits Program (V.A.) and various tuition assistance programs offered by employers.
We know more and more students are experiencing financial struggles – but that just means we need to be very creative and use every possible resource to help you.
We value you, and we hope that you will want to stay here and work with us when your studies are complete. Our Modified Education Employment Program (MEEP) offers assistance to selected, qualified undergraduate students who are willing to commit to becoming a Mission Partner (employee) at OSF Saint Francis Medical Center after graduation.
We are deeply committed to helping you get into school, stay in school and achieve your dreams. Contact us! We are here to help you with the process of financing your nursing education.
COVID-19 Financial Aid Appeal
We understand many families and student have been impacted financially due to COVID-19. We want to be able to help students who have had changes in their financial situations due the national pandemic.
If you and/or your family has been impacted by COVID-19, there is a COVID-19 Financial Aid appeal process.
The purpose of the appeal is to document the change in you financial situation that occurred in 2020 and/or continuing in the current 2021 tax year as a result of reasons related to COVID-19.
Please contact our office to determine if your situation will impact the student’s financial aid eligibility.
We have some greater flexibility through a Department of Education process called “Professional Judgment” which allows us to make corrections to your 2021/2022 FAFSA.
Because the 2021/2022 FAFSA uses 2019 tax information, there may have been substantial changes to your income. Professional Judgment allows us to accurately report your current income situation.
If you submit an appeal it does not guarantee additional grant funding. Appeals will be reviewed by a committee when all required documentation is received.
Below are the special circumstances that may be considered:
- Loss of employment due to COVID-19 pandemic
- Decrease in wages or salary due to COVID-19 pandemic
- Loss of business due to bankruptcy related to COVID-19
- Other circumstances related to COVID 19
Frequently Asked Questions
What is financial aid?
Financial aid, also known as financial assistance, is a combination of scholarship, grants and loans obtained to assist a student in going to college. There are basically two types of financial aid:
Scholarship/grants - If eligible, a student does not have to repay this type of assistance.
Student Loan - Assistance you have to pay back after you graduate or drop below half time enrollment.
How do I apply for financial aid?
The application for federal financial assistance begins with completing the Free Application for Federal Student Aid (FAFSA) .
The FAFSA is designed to collect student (and parent for dependent student) information such as income, household size and the number of people in your household who will be attending college. The information is then put into a formula that determines the level of financial need for the student and his or her family. The College of Nursing uses the result of this formula to determine which type of assistance the student is eligible to receive.
The FAFSA can be found online at Student Aid.gov . You can submit your FAFSA as early as October 1, 2020 for the 2021/2022 academic year. We recommend you complete your 2021/2022 FAFSA no later than November 15th to maximize your financial aid opportunities.
Before you go online to complete your FAFSA, make sure you and your parents (if dependent) have your FSA ID. If you don't have a FSA ID number or can't locate the one you already have, go online to https://fsaid.ed.gov/npas/index.htm and follow the instructions. The ID number is a way to sign your FAFSA application electronically.
Please note - Department of Education websites are not supported by internet explorer.
When you are ready to complete your FAFSA, you will need your Federal tax information, as well as your parent’s (if dependent) and the school code for the College of Nursing (006240). There is also a Pre-application worksheet you can download and complete. This form has the same questions as the FAFSA in the order they should appear on the website. When you have all this information, simply go online and complete the process. It is a quick, convenient way to apply for federal assistance. Once you complete the online process, the College of Nursing will receive an electronic copy of your application from the federal government.
What happens next?
Once we receive a copy of your FAFSA, we will review it and contact you with the documents you will need to submit in order to complete for your financial aid file. When your file is complete, we will send you a financial aid award letter packet by mail, which will include your direct student and/or parent (if applicable) loan paperwork. The booklet will outline the next steps in the process.
Please remember that you will have to complete the College of Nursing admissions process before we will process your financial aid application.
Criteria for selecting and determining award recipients and amounts
- Pre-nursing hours must be completed and recorded in the College of Nursing Admissions Office prior to the release of federal and state assistance.
- Your award is based on the assumption you are an U. S. citizen or permanent resident. State residency has been determined from the information you provided to Saint Francis Medical Center College of Nursing.
- The award offer was determined in accordance with laws, regulations and appropriations (existing or anticipated) of the U. S. Congress, Illinois Legislature, Saint Francis Medical Center College of Nursing and other agencies. The award(s) are subject to adjustments or cancellations if changes occur.
- The award offer is based on financial information supplied by you and/or your family on the financial aid application. All award(s) are subject to adjustment or cancellation if your financial situation changes or if errors in the data are discovered.
- As a financial aid recipient you must assume the responsibility of remaining aware of the program eligibility requirements and the policies which govern the approval, disbursement and use of the financial aid funds. You should be aware of the requirements which are specific to each financial aid program through which you receive funding. Contact the Student Finance office with any questions.
- Students who are in default on student loans, have borrowed in excess of the loan limits or owe a refund to any Title IV program are not eligible for financial assistance.
- Students must meet the Financial Aid Satisfactory Academic Progress Requirements to receive state and federal financial assistance.
- Award amounts are based on your enrollment status. Differing enrollment hours may result in an adjustment to the award amount(s).
- Dropping courses or withdrawal from Saint Francis Medical Center College of Nursing may critically affect your current or future financial aid eligibility. Students withdrawing from the College may be required to repay scholarships, grants or loans already received.
- You must be enrolled in a degree-seeking program to receive federal or state financial aid. This includes Federal Pell Grants, Illinois Student Assistance Commission Monetary awards, and the Federal Direct Loan Programs.
- Course credits not considered eligible for State and Federal Assistance at Saint Francis Medical Center College of Nursing:
- Course credits transferred in from another institution or prerequisite courses.
- Course credits received from Portfolio courses.
- Course credits given for prior education or work experience.
Financial Aid Application Dates
Applications received after the dates below may have a processing delay.
- Fall 2021 - June 30, 2021
- Spring 2022 - September 30, 2021
What is Verification?
Verification is a review process in which the Student Finance Office determines the accuracy of the information reported by the student/parent on the Free Application for Federal Student Aid (FAFSA). The U.S. Department of Education selects certain applications to be verified by the College of Nursing. During the verification process the student and/or parent will be required to submit documentation to verify the FAFSA information. We compare the information on those documents and make any necessary corrections to the FAFSA. This process ensures the eligibility of all students receiving the federal and state assistance they are entitled to.
The documents we need in order to complete verification include the following:
- A completed verification worksheet, which will be mailed to you
- Copies of parent (if applicable) and student W2 statements and/or Schedule C
- Parent (if applicable) and student official IRS tax data, which can be sent to us either by updating the FAFSA using the IRS Data Retrieval tool, obtaining a tax transcript or submitting a signed and dated copy of student and/or parent 2019 federal tax return.
Additional documents may be requested on a case-by-case basis.
At the College of Nursing, all financial aid applicants are required to submit an Institutional Application for Financial Assistance. You must submit all the required documentation before you are sent a financial aid award letter.
You can find forms on the Forms page or contact the Student Finance Office.
Processing delays – Depending on the time of year, the verification process can take four to six weeks. The process can take longer if additional documentation is required to resolve conflicting information.
The College of Nursing does not require graduate students to complete verification.
Verification Policies and procedures
Verification Policies and Procedures (for students selected)
Saint Francis Medical Center College of Nursing will verify all FAFSAs selected for verification by the federal government in an academic year. The College of Nursing may choose certain FAFSA filers in addition to the federal government if there is a reason to suspect the FAFSA information in inaccurate. The verification process must be completed before the student can receive any federal and/or state financial aid.
Students are notified of their selection for verification through the federal government on their Student Aid Report (SAR). The College of Nursing will also notify students through a Document Tracking Letter which will be sent to the student’s permanent address along with the required forms. Any correspondence with the student after the initial letter will be sent by email until the student’s financial aid file is complete.
The basic requirement for verification is completion of the Verification Worksheet Form. Specifics are required and requested for the individual verification groups as outlined by the Department of Education.
Deadlines for Verification Documentation:
Requested verification documentation should be submitted within 30 days of notification by the College of Nursing. Although the normal turnaround time for verification is two weeks, there will be delays if the students files their FAFSA or submits documentation in mid-June or July. The earlier the required documentation is submitted, the better chance of having financial aid awards in place prior to tuition due dates.
The College of Nursing will accept verification documentation after the 30 day window and after the dates above, however, the student and parent will be responsible for complying with all impending tuition and fee payment due dates. There is no guarantee from the College of Nursing that the verification process will be complete by the start of the term.
Priority deadline dates for documentation Fall 2021 6/30/2021 Spring 2022 9/30/2021
Saint Francis Medical Center College of Nursing will update and correct information on the FAFSA upon review of the documentation submitted by the student and/or parent. Corrections submitted by the Student Finance Office will be electronically submitted to CPS for processing. Corrections will be communicated by the College of Nursing to the student through their award letter sent to their permanent address.
In the even the student and/or parent have special circumstances, the student may submit a Special Conditions Request with all supporting documentation as communicated to the student. It is possible the student may need to complete verification before the special circumstances can be reviewed.
Office of Inspector General:
If the College of Nursing suspects a student, employee or other individual misreported information or altered documentation to fraudulently obtain federal funds, the College will report the suspicion and provide evidence to the Office of Inspector General.
The Verification Worksheet collects data in relation to your household size, number in college and untaxed income you and your parent/spouse might have. Student must complete and return the worksheet as designated by your letter.
Please refer to your letter/email for the documents you need to submit to our office.
For questions/concerns regarding applying for financial assistance or verification, please email the Student Finance office at (309) 624-9932 or (309) 655-4119.
Please see the " Forms " link on the website to download documents needed to complete your file.
Documents for verification may be submitted by fax or mail to:
Saint Francis Medical Center College of Nursing
Attn: Student Finance Office
511 NE Greenleaf St.
Peoria, IL 61603
Fax: (309) 655-3962
IRS Data Retrieval
A student/family may utilize the Data Retrieval Tool from within the FAFSA online (www.fafsa.ed.gov) to retrieve their IRS tax return information electronically. This will populate the necessary data from the IRS into the FAFSA application where it can be resubmitted for processing and the data will be verified. If student and/or parent both complete federal tax returns, then both tax returns would have to be retrieved using the tool.
A student/family may choose to request a Federal Tax Return Transcript. This tax transcript is a computer generated report detailing (line by line) the amounts you reported on your federal return. The tax transcript is free of charge and can be requested in one of the following ways:
- Calling (800) 908-9946 and ordering a tax transcript
- Visiting www.IRS.gov and clicking on "Get Your Tax Record". Then click "Get Transcript by MAIL"
- Completing IRS form 4506-T or form 4506T-EZ, which is a request of transcript of tax return. Click here to obtain the form. http://www.irs.gov/pub/irs-pdf/f4506t.pdf
In addition to the Institutional Application for Financial Assistance, the next part of the verification process is to confirm the information on the Federal IRS tax return. There are a variety of ways to accomplish this task.
The IRS Data Retrieval tool may not work for a variety of reasons. Some of these reasons:
- When attempting to link within the FAFSA to the IRS, a student/family must have the addresses typed exactly right and matching your tax return perfectly. The examples below show the same address typed a variety of ways and could result in the Retrieval tool not working properly. Abbreviations and punctuation are very important!
- Some families are able to use the Retrieval Tool successfully, however, they are then failing to realize they must proceed through the signature (using pin #s) and resubmit the FAFSA. If you close the FAFSA without submitting the correction, it will NOT process and fulfill the requirement for verification.
- If a family just recently submitted their tax return, it will take up to two or three weeks to be able to link properly.
- If a family submitted their tax return and owed taxes to the IRS, then the tax return is not considered complete and able to be retrieved until the payment is processed.
- There are two similarly named forms available from the IRS; an Account Transcript and a Tax Return Transcript. The Account Transcript is sometimes being requested in error. In order to complete Verification, a Tax Return Transcript is needed.
To Obtain a Free Tax Return Transcript from the IRS
Note: DO NOT request a Tax Account Transcript or Record of Account because they are not acceptable for verification purposes.
You can request a tax return transcript one of three ways:
- Go to http://www.irs.gov
- Click “Get Your Tax Recordt”
- Click “Get transcript online”
- If you are a first time user to the IRS transcript online website, you will have to verify your identity by setting up an account. You will need a valid email, text enabled phone in the user's name, and specific financial account numbers (such as a credit card number, account number from home mortgage, or auto loan).
- Once the IRS has verified your identity follow the instructions
- Select “Return Transcript” and tax year
- Contact the IRS at (800) 908-9946.
- Follow prompts
- Select “Option 2” to request IRS tax return transcript and enter “2019” The transcript request is generally received within 10 business days.
- Go to http://www.irs.gov
- Click “Get Your Tax Record”
- Click “Get a Tax transcript by Mail”
- Follow instructions
- Select “Return Transcript” and tax year. The transcript request is generally received within 10 business days.
- If you are unable to order a tax return transcript online, complete IRS form 4506T to request the tax return transcript be mailed to you.
The 2021/2022 Free Application for Federal Student Aid (FAFSA) collects income information for the 2019 tax year. However, circumstances may have occurred in your household since filing your 2019 federal taxes which would not be included on the 2021/2022 FAFSA.
Saint Francis Medical Center College of Nursing will consider the following “special circumstances” and could result in changes to your 2021/2022 FAFSA results:
- Loss of income for student, spouse, parent If more than 10 consecutive weeks
- One-time reduction in income such as a one-time IRA withdrawal
- Exceptional medical and/or dental expenses
- Divorce or separation occurred after taxes filed
- Death of parent or spouse which occurred after FAFSA was filed
Please note the Student Finance Office is not mandated to use professional judgment for these circumstances and neither are we limited to the situations listed above.
If you are interested in being considered for special circumstances, please submit a signed (you and parent if applicable) and dated statement explaining your reason for applying for special circumstances to the Student Finance Office. We will review your statement and send you a letter requesting all necessary documents to review your request.
Important Application Information
- You may submit one special circumstance for one reason, per student, per academic year
- The 2021/2022 FAFSA must be complete prior to submitting a Special Circumstance form.
- If your FAFSA is selected for verification, you must submit all required documentation prior to special circumstances being reviewed.
- The student must be admitted and meet all federal eligibility requirements when special conditions form is received.
- Processing can take 2-4 weeks from time all requested documents are received
Special Circumstances request will not be considered for the following reasons:
- Voluntary loss/decrease of income*
- Leaving a job to go to school
- Excessive consumer debts
- Private school tuition
- Daycare expenses
*We may consider these circumstances if there are extenuating circumstances.
Modified Education - Employment Program (MEEP)
The OSF Saint Francis Medical Center MEEP (Modified Education Employment Program) is designed to provide educational assistance to selected qualified undergraduate nursing students who are enrolled full-time at Saint Francis Medical Center College of Nursing (SFMC-CON) and are willing to commit to employment at OSF Saint Francis Medical Center (OSF SFMC) following graduation.
RA Waiver Program (Undergraduate)
Students who have been approved as a Resident Assistant at the College are offered a $2250 per semester waiver.
Employment (Undergraduate & Graduate)
The College does not participate in the College Work Study Program. However, many of our students have found employment at OSF HealthCare Saint Francis Medical Center. For a list of employment opportunities at OSF Saint Francis, click here . If you are employed by OSF Saint Francis, you may be eligible for tuition assistance opportunities. Click here for more information.