Illinois Bonus Incentive Grant (BIG)
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| Provided by: | Illinois Student Assistance Commission (ISAC) |
| Type: | Scholarship |
| Amount: | Varies What's this |
| Description: | |
| The Bonus Incentive Grant (BIG) is a non-need based grant which is available to holders of Illinois College Savings Bonds if the bond proceeds are used to pay for educational expenses at an eligible Illinois institution. Grant amounts range from $40 - $440 per $5,000 of compound accreted value at maturity, depending on the maturity of the bond. | |
| Additional Information | |
| Bondholders must: 1) have continuously owned the bond(s) for at least 12 months preceding the date of maturity; 2) use, directly or indirectly, at least 70% of the proceeds to defray educational expenses; and 3) designate only one student beneficiary for each bond redeemed. Student beneficiaries must be enrolled on at least a half-time basis at an ISAC-approved Illinois public or private two- or four-year college or university. | |
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