Member of the parent's council smiles with their child

Parent & Family Financial Services

Cost & Financial Aid at SAIC

Attending SAIC is an investment in your students' future, and you are not alone in that investment. SAIC invests in your student, also, by awarding merit-based scholarships and need-based grants to those that are eligible. Visit the Cost & Financial Aid pages for detailed information regarding financial aid, costs and payment.

Financial Tips

Financing a college education can be a challenge, but it is also one of the most worthwhile and important investments an individual will make in their lifetime.

Student Financial Services offers the following basic recommendations to help parents and families tackle the challenges of financing a college education:

  • Complete the FAFSA (Free Application for Federal Student Aid) as soon as possible after October 1 at FAFSA.gov. Remember to list SAIC in the school section using FAFSA school code: 001753. This application must be completed every year to qualify for aid. Review key FAFSA dates and deadlines below.

  • Every college and university awards financial aid differently, using individual criteria and many different processes, so it is best to familiarize yourself with SAIC’s financial aid process. Learn more about Cost & Financial Aid at SAIC.

  • Failing to provide requested information on various financial aid forms is one of the most common mistakes people make when applying for financial aid. For instance, if a required Social Security number is missing from the FAFSA, it will be automatically rejected.

  • Each year, calculate your budget for each semester and academic year. After your student receives their award letter, confirm that you and/or your student have enough funds to cover direct costs charged to their student account and indirect costs for living, transportation, personal, and book/supply costs. Helpful calculation forms with sample figures are available on the Student Financial Services website

    If further funds are needed, you may need to apply for additional loan funds. Some loans such as Federal Direct PLUS and alternative/private loans offer the option of preapprovals for credit before the application is submitted for processing. The suggested time to complete loan applications is at least one to two months before the academic year or semester begins.

  • Student Financial Services sends a number of communications to students throughout the year. Make sure your student is forwarding those emails to you, as appropriate.

  • A wealth of information about paying for college is available. You can find resources via the internet, the local library, the government, banks and lenders, and the financial aid offices of colleges and universities. You may want to consider researching outside scholarships as well. Ideally, a student should apply for outside scholarships 12–14 months before the academic year begins. 

    Suggested websites to search for outside scholarships are listed on the Student Financial Services website.

Key FAFSA Dates & Deadlines

In order to be eligible for need-based aid, please file the Free Application for Federal Student Aid (FAFSA) at fafsa.gov (even if you’re unsure if you’ll qualify). Remember to file your FAFSA as soon as possible as some types of assistance are limited. An official award letter and an email outlining your financial aid offer will be sent to you once your file has been reviewed and your eligibility has been determined.

October 1 — New FAFSA opens for next award year. File your FAFSA as soon as possible so your financial aid is reflected in your award letter.

January 1 — SAIC priority deadline for completing the FAFSA for undergraduate Illinois residents.

January 15 — SAIC begins sending award letters for eligible new students who have completed a FAFSA.

February 1 — SAIC priority deadline for completing the FAFSA for all other students.

April 15 — SAIC begins sending award letters for eligible continuing students who have completed a FAFSA.

Calculate Your Costs

SAIC Net Price Calculator

Use the SAIC Net Price Calculator to estimate your student's financial aid and net costs.

Payment Options, Plans, and Billing

Payment in full or payment arrangements of any balance not covered by financial aid must be made by the 15th before each semester begins in order to avoid late fees, restriction of access on campus, and prevention from future registration and release of academic transcripts/diplomas. Learn more about payment options, plans, and billing.

  • At SAIC, we offer multiple payment methods to fit your needs, including check or money order, in-person payments, credit/debit card payments, international payments, electronic check payments, and more. Learn more about how to make your payment.

  • Electronic bills are available to students and payers in Transact. Payers are set up by the student in Transact, and an email notification is sent each month to students and payers when a new bill is available. Learn more about payment plan timing and enrollment here.

  • To stay on track with your tuition payments, please note the following due dates:

    SemesterPayment Due Date

    Summer

    May 15

    Fall

    August 15

    Winter

    December 15

    Spring

    January 15

    Payment arrangements must be completed by the 15th before each semester to avoid late fees and restrictions on campus access, registration, and transcript releases.

    Note: Payments received by December 20 each year will be credited to your account and included on that year's 1098-T form (if eligible). Payments after December 20 will be credited in January and included on the following year's 1098-T form. More information is available at saic.edu/1098t.

  • It is important to keep your student's account current. Students whose accounts are delinquent will have a hold placed on their records, preventing them from future registration and possibly limiting their access on campus. In addition, transcripts and diplomas will not be released until all financial obligations to SAIC have been met. Learn more.

Designate Parents/Guardians as Authorized Payers on Your Student's Account

Students may designate parents/guardians as authorized payers within their student accounts. See full instructions for how to do this here.

Renewing Financial Aid

Students should re-apply every year as soon as possible after October 1 for the upcoming academic year using the FAFSA to receive maximum consideration for available funds. Students will receive a confirmation from the federal government once their FAFSA application has been processed. Review the information and make corrections online. SAIC uses the SAI (Student Aid Index) each year as listed on the processed FAFSA known as the FSS (FAFSA Submission Summary) to determine federal, state, and institutional aid eligibility.

After the student's first year, Student Financial Services does not mail award offers resulting from the FAFSA but rather sends only an automated email notifying them that their award offer can be now seen in Self-Service. Learn more.

Family Educational Rights and Privacy Act (FERPA)

The Family Educational Rights and Privacy Act (FERPA) provides parents with certain rights regarding their children's education records. Students should submit an electronic FERPA form by August 1 for fall and/or January 1 for spring to allow SFS to discuss their financial aid and student account information with parents/others. 

Note: New students are sent an electronic packet before their first semester which includes a FERPA form that can be signed electronically.

See SAIC's FERPA disclosure here. For additional information, please see the US Department of Education's A Parent Guide to the Family Educational Rights and Privacy Act (FERPA).

Need Assistance? We're Here to Help

For any questions, please contact Student Financial Services.