Illinois Quick Hits: FAFSA applications rise with increase in state taxpayer funding

By Jim Talamonti | The Center Square
The Center Square

(The Center Square) – According to the National College Attainment Network’s Free Application for Federal Student Aid Tracker for the Class of 2026, Illinois ranked second in the nation with 71.9% of students completing financial aid applications.

The Illinois Student Assistance Commission and its partners conducted almost 3,400 FAFSA outreach events and held more than 12,230 financial aid workshops during the school year. The ISAC’s budget appropriation for fiscal year 2027 includes $8.36 million for agency outreach and research and $9.0 million for operations, a 6.6% increase over fiscal year 2026.

The Illinois FAFSA Mandate requires every Illinois public high school student to complete a financial aid application or submit a waiver as part of their graduation requirements.

STATE ENHANCES SENIOR FARMERS MARKET VOUCHERS

The Illinois Department on Aging and the Illinois Department of Human Services are offering enhanced Senior Farmers Market Nutrition Program vouchers for income-eligible older adults to purchase fruits, vegetables and harvested honey at participating farmers markets and roadside stands.

Participants will receive up to $40 per person in benefits, up from $25 in 2025.

FUEL PRICES RISE

The average price for a gallon of regular unleaded gasoline in Illinois has increased to $4.13, up nearly 5 cents from yesterday, according to AAA.

The national average rose just over a nickel to $3.94 on Friday. The average Illinois price one year ago was $3.45.

FINANCIAL STRESS INDEX DIPS

The St. Louis Fed Financial Stress Index dipped to -0.88 in the week ending July 10 from the prior week’s -0.72.

The index measures the degree of financial stress in the markets and is constructed from seven interest rate data series, six yield spreads and five other indicators. Values below zero suggest below-average financial market stress, while values above zero suggest above-average financial market stress.