The Institute for Clinical Social Work

Financial Aid

At ICSW, we want to help you advance your career, and we know that funding your education is an important part of that process. Take a look at the below overview of the financial aid options available at ICSW. To apply for any form of federal financial aid, you must first complete the Free Application for Federal Student Aid (FAFSA). We recommend that you fill it out online, or you can contact Sebastien Beaudet, Financial Aid Administrator, at (312) 935-4234 or for a paper version.

Financial aid applications must be received by July 15 for new students enrolling in the fall semester.

Federal Student Loans

ICSW has been certified by the Department of Education to participate in the William D. Ford Federal Direct Loan program. Eligible students may borrow under two different loan programs: Direct Unsubsidized Stafford Loans and Direct PLUS Loans. Students who are enrolled half-time or more are eligible to receive Stafford loans. Applications are available at the ICSW office or for download here.

Direct Unsubsidized Stafford Loans

Direct PLUS Loans

To be eligible for federal student loans, you must:

FYI — Interest

A loan expense charged for the use of borrowed money. Interest is paid by a borrower to a lender. The expense is calculated as a percentage of the unpaid principal amount of the loan.

How is it calculated? The amount of interest that accrues (accumulates) on your loan from month to month is determined by a simple daily interest formula. This formula consists of multiplying your loan balance by the number of days since the last payment times the interest rate factor.

Simple daily interest formula: Outstanding Principal Balance × Number of Days Since Last Payment × Interest Rate Factor = Interest Amount

Loan Interest Rates by Disbursement Dates
Loan Type First Disbursed between July 1, 2013 and June 30, 2014
Direct Unsubsidized Loans (Graduate or Professional Students) Fixed at 5.41%
Direct PLUS Loans (Parents and Graduate or Professional Students) Fixed at 6.41%


Private Loans

Private Loan Options
Private Loan Further Information
Sallie Mae Smart Option Call Sallie Mae at 1-877-279-7172 or Apply Online
Wells Fargo Graduate Loan Call Wells Fargo at 1-800-378-5526 or Apply Online
Discover Graduate Loans Call 1-877-728-3030 or Apply Online


Applicable Scholarships
Loan/Resource Category Further Information
National Health Service Corps Repayment/Scholarships E-mail
Jack Kent Cooke Dissertation Fellowship Award Scholarship Call 1-703-723-8000 or email
AAUW Career Development Grants (Women) Scholarship Call 1-319-337-1716 ext. 60 or email
Diversifying Higher Education Faculty in Illinois Program Scholarship Call 1-217-782-2551 or email
The Sandra Koscielniak Graduate Education Scholarship Scholarship Call 1-630-483-5799 or email
Elizabeth Jacobs Scholarship (ICSW) Scholarship  
Fastweb Scholarship