Eligibility

Criteria to Receive Federal Loan and Work-Study Funds

You must meet all of the following criteria: 

• Be a U.S. citizen, national, permanent resident, or other eligible noncitizen
• Be enrolled at least half time in a degree-seeking program that is eligible for federal aid
• Have a valid U.S. Social Security number
• Demonstrate federal financial need (note: this requirement does not apply to Federal Direct Unsubsidized Loans)
• Maintain Satisfactory Academic Progress (SAP) as defined by your program and the U.S. Department of Education
• Be in compliance with Selective Service registration requirements, if applicable
• Not be in default on any federal educational loan, and not owe a repayment on a grant or loan at any institution
• Not have been convicted of certain drug offenses (see your FAFSA for details)
• Comply with federal regulations governing the use of aid funds for educational purposes 

A note on Graduate PLUS Loans: due to recent changes under the One Big Beautiful Bill Act (OBBBA), Graduate PLUS Loans are no longer available to new borrowers for terms beginning on or after July 1, 2026. If you previously borrowed a federal direct loan while enrolled in your current program before July 1, 2026, you may qualify for a legacy provision that allows continued access for up to three academic years. Please visit our Federal Legislation Updates page for full details or contact our financial aid office to understand how this affects your specific situation. 

Criteria to Receive Non-Federal Private Loan Funds

Private loans are another option for students who need additional funding beyond what federal aid covers or for international students who are not eligible for federal assistance. To be eligible for a private loan, you must meet the following criteria: 

• Be enrolled for each term in which you wish to receive funds
• Be a creditworthy U.S. citizen, national, permanent resident, or other eligible non-citizen. In most cases, you can apply without a cosigner. If you are not initially approved, applying with a creditworthy cosigner or endorser may help. We always encourage students to explore federal aid options first before turning to private loans.

International students may also be eligible for private loans with an eligible cosigner or endorser. The cosigner or endorser must be a creditworthy U.S. citizen, national, or permanent resident who meets the lender’s requirements. Please note that international students must hold an F1, F2, J1, or J2 visa, and some lenders may require a valid U.S. Social Security number as part of the application.

Maintaining Your Eligibility: Satisfactory Academic Progress (SAP)

Receiving financial aid isn’t just about meeting eligibility criteria at the start; it also requires maintaining them throughout your enrollment. Federal regulations require all graduate students receiving Title IV federal aid to make Satisfactory Academic Progress (SAP) toward completing their degree in order to continue receiving assistance. This applies regardless of how long you’ve been enrolled or how much aid you’ve received.

Title IV federal aid programs covered by these requirements include Federal Work-Study, Federal Direct Loans (subsidized and unsubsidized), and the Federal TEACH Grant. 

To maintain SAP, you must meet all three of the following standards each term: 

• Maintain a cumulative GPA of at least 2.0, or the minimum required by your program for graduation, whichever is higher
• Successfully complete at least 66% of all credit hours you attempt, whether or not those credits count toward your degree
• Complete all degree requirements within 150% of the normal timeframe established by your program

These standards exist to help ensure you’re making meaningful progress toward your goal. If you’re ever concerned about whether you’re on track, please reach out to your academic advisor and our financial aid team before a problem affects your aid.

In addition, The Chicago School has specific SAP requirements which can be found in more detail in the Academic Catalog.

Standards Include:

Qualitative Standards

Cumulative Grade Point Average (CGPA) 

• An undergraduate student must maintain a CGPA of 2.00 or above.
• A graduate student must maintain a CGPA of 3.00 or above. 

Quantitative Standards

Rate of Progress (ROP) 

Rate of Progress = Cumulative number of credit hours successfully completed / Cumulative number of credit hours attempted 

All undergraduate, graduate, and certificate students must maintain a minimum of 66.67% ROP for all attempted credit hours.  

Maximum Time Frame (MTF) 

MTF requires the successful completion of all program requirements within 150% of the published program length as measured in credit hours attempted for the program of study.  

The number of credit hours required for program completion appears in the programs of study descriptions. 

• A student who exceeds the 150% MTF for a program of study or who cannot mathematically complete the program within the MTF will be dismissed from the institution.

IllinoisCOM SAP Standards

Quantitative Standards

For a student to progress through the program to graduate within the maximum time frame, all IllinoisCOM students must complete 67 percent of credit hours attempted for federal student aid purposes.

Attempted hours not earned include any grade of Fail (F), Incomplete (I), Withdrawal (W), Administrative Withdrawal (AW), or Administrative Drop (AD). 

Qualitative Standards

A student enrolled at Illinois COM is graded on an Honors/Pass/Fail system. For federal student aid purposes, a grade of Honors or Pass is the equivalent of receiving a 70% or higher (passing grade) in measuring SAP. A 70%is equivalent to the letter grade of C.

A student must pass all courses to be considered making Satisfactory Academic Progress for federal financial aid.

SAP Evaluation and Appeal

The Chicago School evaluates SAP at the end of each evaluation period. Students who do not meet SAP standards may be placed on Warning, Probation, or Dismissal depending on their circumstances. Students with mitigating circumstances may appeal for their financial aid eligibility. Contact the Financial Aid office if you believe extenuating circumstances have affected your academic progress. 

Review the Full SAP Policy

Contact Financial Aid — [email protected]

What Happens if You Don’t Earn a Passing Grade in a Term?

We know that difficult terms happen, and we want you to be aware of the financial implications before they catch you off guard.

If you do not earn at least one passing grade in a given term, federal regulations require The Chicago School to treat you as an unofficial withdrawal. This means:

• 50% of any Title IV federal aid disbursed to you for that term must be returned to the federal government
• If that return creates a balance on your student account, you will be responsible for paying that amount 

Grades must be submitted and posted to the Registrar’s system within 30 days following the last day of the term for this determination to be made.

If you find yourself in academic difficulty during a term, please don’t wait until grades are posted to reach out. Both your academic program and our financial aid team would much rather help you navigate a difficult situation in real time than see you face unexpected financial consequences after the fact.