Augustana announces new program to dramatically expand financial aid
Augustana College has launched an innovative financial aid program — Augustana Possible — to meet 100% of demonstrated financial need for qualifying newly enrolled students.
“High-achieving students whose expected family contribution doesn’t meet the direct cost of attendance can achieve their dream of a high-caliber education with Augustana Possible,” said Executive Vice President W. Kent Barnds. “This will be a game-changer for a segment of students.”
Many students who will benefit from Augustana Possible will be the first in their families to attend college. This was the vision of Augustana College graduate Murry Gerber, who made the $40 million commitment to provide financial aid and scholarships to Augustana students with backgrounds similar to his own. Murry Gerber’s vision has inspired many other donors to bring Augustana Possible to life for future students and alumni.
The Augustana College Board of Trustees has endorsed the initiative, which will position Augustana among an elite group of colleges nationwide offering similar financial aid programs.
Augustana Possible is the largest and latest effort by the 162-year-old college to address affordability, create access and expand opportunities for students from all socioeconomic backgrounds. In the past five years, Augustana has increased the amount of financial aid by 10%, to approximately $72 million annually. Now 100% of incoming Augustana students receive financial aid.
“We believe in the potential of this college, and we believe deeply in the incredible potential of today’s students,” said Barnds. “The commitment to meeting 100% of a high-achieving student’s demonstrated financial need allows us to open our doors more fully, and in turn it helps us build a stronger Augustana.”
How it works
To determine financial eligibility for Augustana Possible, students will submit the Free Application for Federal Student Aid (FAFSA) or the Alternative Application for Illinois Financial Aid, available for some students living in Illinois. Augustana Possible meets the demonstrated financial need of every eligible student, using available funds from federal, state and college sources.
See Augustana Possible for more details, qualifications and examples of funding.
Keri Rursch, 309-738-2628