Financial Aid & Value

A WORTHY INVESTMENT

FINANCIAL AID & VALUE

To say we’re excited that you may be joining us at Illinois Wesleyan is an understatement. Investing in bright, curious students like you is our passion, and has been for well over 150 years. We are fully committed to putting the opportunity for engaged, experiential, and entrepreneurial learning within the reach of every qualified applicant.

Year after year, top employers eagerly hire IWU graduates, citing their “superior innovation and problem solving skills” along with their “well-rounded talents.” They consistently note our students’ experience and leadership skills honed through research and internship opportunities, international travel, and a host of on-campus activities and clubs.

It’s possible that Illinois Wesleyan University is not the least expensive school you’re considering. We are confident, however, the outcomes of an Illinois Wesleyan degree will pay dividends far surpassing the investment.

HOW WILL YOU MEASURE SUCCESS? ILLINOIS WESLEYAN:

EMAIL: iwufaid@iwu.edu

PHONE: (309) 556-3096

FAX: (309) 556-3833

HOURS OF OPERATION:

Monday – Friday

8 a.m. – 4:30 p.m.

ADDRESS:

1312 N. Park St. Bloomington, IL 61701

MAILING ADDRESS:

IWU Financial Aid Office

P.O. Box 2900 Bloomington, IL 61702-2900

Statements of Accreditation and Non-discrimination Illinois Wesleyan University is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools.

Illinois Wesleyan University does not discriminate on the basis of age, race, religion, sex, sexual orientation including gender identity and expression, disability, or national origin in its admissions policies, educational programs and activities, or employment policies. Inquiries regarding the non-discrimination policy should be directed to the Office of the President, Illinois Wesleyan University, P.O. Box 2900, Bloomington, IL 61702-2900.

Illinois Wesleyan expressly recognizes the requirements of the Title IX legislation. Title IX complaints should be reported to the University’s Title IX coordinator, who is the Director of Human Resources (209 Holmes Hall, (309) 556-3255).

Illinois Wesleyan University does not discriminate on the basis of disability in admission or access to, or treatment or employment in, its programs and activities. The Vice President for Business and Finance, the Vice President for Student Affairs/ Dean of Students, and the Associate Provost are designated by the University to coordinate all efforts to comply with Section 504 and its implementing regulation 34 C.F.R. Part 104 of the Rehabilitation Act of 1973. All questions should be directed to the University compliance coordinators indicated above.

All trademarks not owned by IWU that appear in this brochure are the property of their respective owners; and this brochure is neither endorsed by, nor sponsored by, nor affiliated with the respective owners of said trademarks.

WHAT IS A WORTH? JUMP START ON YOUR FUTURE

" The Hart Career Center is one of the most valuable resources on campus. The staff is incredible and so helpful! They have helped me obtain all of my internships and my full time job through alumni connections. IWU Alumni are always willing to give back here, and for that I am glad for Wesleyan."

Izabella Villatuya ’24

IWU Major: Accounting

Campus Activities: Student Senate, Titan Ambassador

[ Izabella completed internships at both Deloitte and GCM Grosvenor. Upon graduation, she will begin a Tech Risk Consulting role at RSM in Chicago. She is on track to graduate in 4 years ]

DID YOU KNOW

Illinois Wesleyan's Hart Career Center has ranked in the top 20 of institutions nationwide in the Princeton Review's list of colleges with the best career services.

AN IWU EDUCATION: WELL WORTH THE INVESTMENT

Graduate On Time with a Higher Salary

Before you make your final college decision, please take a moment and consider your family contribution at your top schools. Also think about the sometimes hidden factors that might change the bottom line. How long will you be in school? Will you have a network of alumni helping you find your first job? How much will the job you land after graduation pay?

When considering the full picture, choosing Illinois Wesleyan is a solid investment. Don’t just take our word for it; we invite you to check out the U.S. Department of Education College Scorecard at: collegescorecard.ed.gov

MEDIAN SALARY AFTER ATTENDING

One of your goals after completing school is to earn a salary. What if we told you that, chances are, you’ll earn more with an Illinois Wesleyan degree than with a degree from other schools in Illinois? We’ve reviewed the research, and it is true. Illinois Wesleyan graduates earn an average of $66,591 after graduation.* According to Degree Choices (using College Scorecard and IPEDS data) IWU is the #1 Liberal Arts College in Illinois for earnings (2022).

DID YOU KNOW

IWU grads pay back their student loans at a rate 4-5 times higher than the national average? You know what that means? IWU graduates land good paying jobs!

DID YOU KNOW in comparison with our competitors, federal statistics show that IWU students are more likely to remain in school, graduate on time, earn a higher salary, and pay off student debt after graduation

GRADUATION RATE

We are committed to you completing your degree and being successful in the working world (or in graduate school) within four years. Our official graduation rate is 79% (20% above the national median).* Private competitor schools in Illinois have lower graduation rates.** When you do the math, four years at IWU versus five (or even six) at a “less expensive” school, Illinois Wesleyan adds up to a better deal.

**NPR, National Student Clearinghouse Research Center

*College Scorecard

DID YOU KNOW on average, 93% of IWU’s grads completed their degrees in 4 years?

FOR YOUR REVIEW

Four Main Types of Financial Assistance

These are the four main sources of aid with a brief explanation to help you understand the assistance offered. Please keep in mind, your financial aid award is specific to you, and may or may not include all of the types of assistance below.

IWU Grants and Scholarships

Many students receive an Alumni Scholarship, Esports Scholarship or Fine Art Scholarship at the time of acceptance. These scholarships are not stacked so an admitted student only receives one of these scholarships. A student may also be awarded a Housing Scholarship at the time of acceptance which is available to the student each year they live in University owned housing. Based on a student's FAFSA results, students may qualify for a Titan Scholarship and possibly an IWU Alumni Grant. We try to be as generous as possible at the start and do not hold scholarships that require additional applications or interviews. In total IWU offers approximately $50 million in IWU grants and scholarships.

Student Employment or Federal Work Study

Students must qualify for this opportunity based on their FAFSA materials. Student employment at the University typically involves 8 hours per week for the year with potential earnings of $2,400. Student employment information will be mailed to those eligible students in the summer.

Governmental Grant Assistance

Both Illinois Wesleyan University grants and scholarships are considered gift assistance and do not need to be repaid. Grants, such as those listed below, are awarded based on need. Yearly completion of the FAFSA is required in order to be considered for grants. Illinois Wesleyan scholarships are awarded based on materials provided in the application package. With the exception of Fine Arts scholarships, which require auditions, the academic information provided upon application qualifies a student for multiple scholarship opportunities.

Federal Pell Grants provided by the federal government are available to students who demonstrate significant financial need. For 2023-24, the maximum Pell Grant award is $7,395.

Federal Supplemental Educational Opportunity Grants (SEOG), provided by the federal government, are also available to students from families who demonstrate significant financial need and who would not be able to attend the University without this assistance. The awarding of these grants is based on Pell Grant eligibility, availability of federal funds, and satisfactory academic progress. Amounts typically range from $200–$1,000 per year.

State of Illinois MAP (Monetary Award Program) Grant is an estimated award based on information from the Illinois Student Assistance Commission (ISAC). Eligibility is based on financial need, being an Illinois resident and attending an Illinois college or university. The amount listed is subject to change until it is finalized by the Illinois legislature. For the 2023-24 academic year, the maximum MAP Grant award is $8,400. This award is also based on the assumption that a student is enrolled in four units per semester at Illinois Wesleyan.

Loan Funds

The Financial Aid Office has information on many student loan funds, which provide low-cost financing of college expenses and constitute an important source of assistance. Loans must be repaid over a period of time at the terms specified on the next page. Historically, Illinois Wesleyan graduates have one of the lowest cohort default rates at approximately 2% – demonstrating that our students are successful in being able to repay their loans on time.

The Federal Direct Stafford Loan Program

Loan assistance is provided for education expenses through the University. The Financial Aid Office will provide information about the Stafford Loan during the summer prior to enrollment. Repayment of the principal will not begin until six months after graduation. The loan must be repaid over a maximum of ten years. A loan origination fee of 1.057% will be assessed by the U.S. Department of Education at the time of disbursement.

Stafford Loan Limits–Subsidized and Unsubsidized:

Freshman – $3,500

Sophomore – $4,500

Junior and Senior – $5,500

Additional Annual Unsubsidized Loan Limits – $2,000

Federal Direct Stafford Subsidized Loan is available to students based on their financial need. The subsidized loan is interest-free while the student is attending school on at least a half-time basis. Loans obtained through this program were fixed at 5.5% for 2023-24.

Federal Direct Stafford Unsubsidized Loan is available to all students without demonstrated financial need. The borrower is responsible for paying the interest on the loan from the date the funds are disbursed. Various repayment options are available. Loans obtained through this program were fixed at 4.99% for 2023–24.

Private Scholarships

Illinois Wesleyan Loans

Some students with demonstrated financial need are awarded an IWU loan. The maximum amount that can typically be borrowed is $2,000 per year, with no charge for interest until six months after the borrower ceases to be enrolled on a full-time basis. Repayment of the principal will not begin until six months after graduation and may be extended over ten years at 8% interest.

PLUS and Alternative Loans

While we do not award the Parent Loan for Undergraduate Students (PLUS) with the initial financial aid proposal, many families will explore this option to assist them with their portion of the family contribution.

To learn more, please check our website: iwu.edu/loans

We encourage students to pursue private scholarships regardless of financial need, as an outside scholarship will always provide the opportunity to reduce some portion of college expenses. Notification of all scholarships received from outside sources must be sent to the financial aid office. Outside scholarships may reduce the estimated balance due to the University or the student’s self-help (student loan or employment) portion of the proposal. These scholarships are first used to reduce any unmet need. Once unmet need has been met, the scholarships will be used to reduce loans first and student employment last.

INVEST IN YOURSELF

Michael Ashton ’27

IWU Majors: Psychology and Women, Gender & Sexuality Studies

IWU Minor: Advocacy with a Law Concentration

Campus Activities: Student Senat e, The Argus, APAC, Campus Activities Board, Multi-Faith Engagement, The Human Psyche, Pride Alliance, ODI, Phi Gamma Delta

[ MICHAEL IS ON TRACK TO GRADUATE IN 4 YEARS ]

WHAT IS THIS WORTH? LEVEL OF SUPPORT

“As a student of color, I have really appreciated the IMPACT program that IWU offers. It gives you a place for community even before the academic year starts. the Office of Diversity and Inclusion really establishes itself as a safe zone, full of students who care about each other, care about IWU, and use their experiences to create safe, diverse, and inclusive communities that are crucial for any college.”

IWU SUPPORT SYSTEMS

PAYMENT PLAN OPTIONS

Monthly Payment Plan

Illinois Wesleyan offers a monthly installment plan. Your annual family contribution may be paid over ten monthly payments with five payments per semester. Monthly payments begin in July for families wishing to participate in this program.

Standard Payment Plan

You may choose to pay in two installments if this better meets your financial requirements. The University accepts payments made by credit card including American Express, Discover, MasterCard or Visa. Your credit card company may charge a convenience fee for this service.

There’s a reason we’re ranked #1 for jobs.

It may have to do with the fact that every major and professional program is grounded in a wide variety of academic subjects. Our physics students might quote Shakespeare. Our pre-med majors might talk philosophy. Our music majors probably have a firm grasp on political science. The secondary focus is up to you, but in an ever-changing world, we know you will stand out.

iwu.edu/outcomes

WHAT IS WORTH? COMMITMENT TO YOUR SUCCESS

“Last semester I was in a chemistry class with 5 other students. Our professor taking the time to pass along all of his knowledge to just 6 of us students, showed me that he saw potential in each of us, and wanted to invest in us and our future. Having such established and esteemed professors investing in students individually is unique to a small university. Their support has been a driving force in my pursuit of more opportunities.”

Lauren Huber ’25

IWU Major: Biology

IWU Minors: Philosophy

Campus Activities: Women’s Basketball (All Conference and All American Honors), Student-Athlete Advisory Committee, Fellowship of Christian Athletes, Beta Beta Beta National Honor Society, Athletic Training Room Student Worker

[ Lauren is on track to graduate in 4 years ]

FREQUENTLY ASKED QUESTIONS

Do I need to reapply for financial aid each year?

Yes. Federal regulations require that students reapply for federal financial aid each year. The primary reason for this is to ensure that an individual’s eligibility for assistance is based on the most up-to-date income, asset, and family information.

I have received a financial aid proposal and have decided to attend IWU. What is my next step?

Welcome! Your non-refundable $350 deposit represents your commitment to attend Illinois Wesleyan University. You can send a check (don’t forget to include your name and your ID number, found on your acceptance letter) or pay online, iwu.edu/deposit .

Online options include credit card (American Express, Discover, Master Card or Visa)1 or having your savings or checking account debited with an ACH (automatic clearing house)2 payment. iwu.edu/pay-bill. If you cannot locate your ID number, simply call the Admissions Office at 800-332-2498 or send an email to iwuadmit@iwu.edu.

1 A convenience fee is charged by the provider for credit card payment options. IWU does not charge or collect the convenience fee.

2 There is no fee for an ACH payment.

WHAT IS WORTH? FINDING YOUR COMMUNITY

I have grown such a strong community over my four years at Illinois Wesleyan. My favorite thing about the closeness of our school is that I can walk through the quad at a given time and see at least one person I know. This is so important because college can feel isolating at times, so it helps to see a familiar face so easily.”

Elizabeth Mudiandambo ’24

IWU Major: Nursing

IWU Minor: Health

Campus Activities: IWU Cheer Club, Student Senate Executive Board, IMPACT Orientation, Student Affairs Committee for School of Nursing

[ Elizabeth is on track to graduate in 4 years ]

How does Illinois Wesleyan’s outside scholarship policy work?

Notification of all scholarships received from outside sources are to be sent to the financial aid office and will be counted as part of your financial aid package. Any IWU scholarships and grants you may have been awarded will not be affected unless the total of your scholarships exceed your demonstrated need and tuition and fees. Outside scholarship monies will be used to reduce any unmet need you may have. Once unmet need has been met, the scholarships will be used to reduce loans first and student employment last.

I’ve deposited and plan to attend IWU. What do I need to do next to accept the loans in my financial aid award?

Students who are offered loans will want to accept, decline, or reduce them online through their MyIWU portal in June. Students will receive instructions for accessing their MyIWU portal after submitting their deposit. If you accept any portion of the loans offered in your financial aid package, additional documents will need to be completed in the summer in order to finalize your loan process.

I have seen information about a Jennings Scholarship for non-music majors. Can you tell me more about this?

The School of Music offers a scholarship to students who are interested in music, but who are not intending to make it their major. Jennings Scholarship recipients are expected to perform in one of our music ensembles as determined by the appropriate music faculty. Please refer to iwu.edu/music/admissions for more information on how to audition for a Jennings Scholarship.

WHAT'S NEXT?

Review your financial assistance award letter

Students who qualify for need-based aid after completing their FAFSA may receive grants, loans, and student employment, or a combination of these awards. This could include assistance from university, state, federal, and/or private sources.

Your eligibility for participation in these programs has been indicated on your financial aid award letter.

DID YOU KNOW

IN ILLINOIS & IN THE U.S. FOR JOB PLACEMENT

Zippia, 2022

Rated 1 OF THE BEST COLLEGES FOR UNDERGRADUATES TO EARN THEIR COLLEGE DEGREE

RANKED

@illinoiswesleyan @il_wesleyan

@IL_Wesleyan

iwu.edu/admissions

IS:

OF THE BEST COLLEGES FOR UNDERGRADUATES TO EARN THEIR COLLEGE DEGREES

DID YOU KNOW IS:

The Princeton Review, 2022

The Princeton Review, 2022

DID YOU KNOW IS:

Rated 1 OF THE BEST COLLEGES FOR UNDERGRADUATES TO EARN THEIR COLLEGE DEGREE

No. 1 IN ILLINOIS FOR HIGHEST EARNING GRADUATES

SCHOOL AMONG BACCALAUREATE INSTITUTIONS IN THE MIDWEST AWARDING DEGREES IN DIVERSE FIELDS NO.

The Princeton

Degree

No. 1 IN ILLINOIS FOR HIGHEST EARNING GRADUATES

U.S. News & World Report, 2023

No. 1 INSTITUTION IN ILLINOIS & No. 7 IN THE NATION FOR JOB PLACEMENT

BEST LIBERAL ARTS COLLEGE IN ILLINOIS NO.

No. 1 INSTITUTION IN ILLINOIS & No. 7 IN THE NATION FOR JOB PLACEMENT

No. 1 IN ILLINOIS FOR HIGHEST EARNING GRADUATES

Degree

Niche, 2023

Zippia,

Zippia, 2022

RANKED A COLLEGE OF DISTINCTION FOR STUDENT ENGAGEMENT, TEACHING, COMMUNITY, AND OUTCOMES

Ranked a COLLEGE OF DISTINCTION FOR STUDENT ENGAGEMENT, TEACHING, COMMUNITY, AND OUTCOMES

NO.

No. 1 INSTITUTION IN ILLINOIS & No. 7 IN THE NATION FOR JOB PLACEMENT

Colleges of Distinction, 2023

Zippia,

Colleges of Distinction, 2021

BEST BACHELOR'S DEGREE COLLEGE IN THE COUNTRY

No. 2 AMONG HIDDEN GEMS IN THE MIDWEST

Ranked a COLLEGE OF DISTINCTION FOR STUDENT ENGAGEMENT, TEACHING, COMMUNITY, AND OUTCOMES

Washington Monthly, 2023

College Raptor, 2021

NO.

Colleges of Distinction 2021 AMONG HIDDEN GEMS IN THE MIDWEST

No. 2 AMONG HIDDEN GEMS IN THE MIDWEST

College

Ranked a BEST COLLEGE FOR YOUR MONEY BASED ON QUALITY, AFFORDABILITY AND OUTCOMES

College Raptor, 2023

a BEST COLLEGE FOR YOUR MONEY BASED ON QUALITY, AFFORDABILITY AND