Lake Forest College is affordable.
We’ll help you combine scholarships and financial aid to create an aid package that works for you. You could receive up to $37,000 annually in merit-based scholarships, plus additional scholarships you can apply for, on top of financial aid.
Scholarships are blocks of funding in different amounts that students are not expected to repay. Did someone say “free money”?
What goes into an aid package?
College financial aid helps students and their families by covering higher education expenses such as tuition and fees, room and board, books and other coursework supplies, and transportation. There are several types of financial aid:
- Grants
- Scholarships
- Federal or private loans
- Work-study and other programs
Scholarships are one piece of an aid package. Keep reading to learn more about how scholarships make Lake Forest College affordable.
You could qualify for free tuition
Our Forester Flagship Program offers qualified Illinois first-year and transfer students an incredible opportunity: it covers 100% of tuition and fees through grants and scholarships that do not need to be repaid.
Along with a low-interest federal loan, almost all food and housing costs are covered as well. If you transfer in as a junior, your out-of-pocket cost will be $1,500 per year, and if you start as a sophomore transfer or first-year, it's $2,500. On top of that, every student can earn $2,500 through on campus jobs, allowing you to focus on your education and future without stress.
Transfer students: Please refer to the transfer scholarship page for further information.
How do our merit scholarships work?
Our merit scholarships are based on GPA or standardized test scores, plus a holistic review of your individual academic background.
There is no application for the scholarships; they are automatically applied to your award package based on your college application.
These scholarships are guaranteed for all four years as long as you maintain a 2.0 GPA and satisfactory academic progress. Merit scholarships, for example the Presidential Scholarship, are restricted to tuition and fees.
Please note that the below grid only applies to first-year students entering the College in Fall 2025 excluding United World Colleges.
Not on the grid?
Don’t worry! At Lake Forest College, we know that our students are more than just a number. We are searching for interesting, well-rounded students to add to our already diverse community. Your engagement with the College, accomplishments in and out of the classroom, leadership potential, course preparation, and more will be taken into consideration by our holistic review. We are a test-optional college. With a holistic approach to admissions and scholarships, we take into consideration much more than just
grades and test scores, and you are still considered for up to $36,000 in merit-based scholarships. Don’t hesitate to apply!
Applying Test-Optional?
Those students who are applying without submitting their ACT or SAT scores must schedule an interview with their admission counselor as soon as possible. We believe that this conversation tells more about a student’s drive and passion for learning than a standardized exam. Students who apply test-optional will be reviewed for scholarship on an individual basis using our holistic review process.
Review Process
As an institution that is truly diverse in every sense of the word, we at Lake Forest College pride ourselves in our holistic admissions review. Whether you find yourself on the above grid or not, your admissions counselor will review your file for scholarship consideration based on qualities that we know make a successful Forester. Beyond just a GPA or test-score, we are looking for students that want a personalized academic experience, paired with the world-class opportunities that Chicago has to offer.
Renewal Requirements
Academic scholarships from the College are renewed with continued, full-time enrollment and a minimum cumulative GPA of 2.0. Additional requirements can be found on our Financial Aid for Returning Students page.
Forester scholarships (Fine Arts, Carnegie English, etc.) are renewed by the respective department conditional on meeting the specific scholarship requirements. Renewal decisions are made every spring.
Additional Scholarship/Grant Opportunities
Fine Arts Scholarships
Lake Forest College offers talent-based scholarships in music, studio art, and theater. Scholarships are available to both majors and non-majors, first-years and transfers.
Carnegie English Essay Contest
If you are admitted as a first-year student for the Fall of 2026, and plan to study English either through the literature or creative writing track, we invite you to participate in our annual Carnegie English Essay Contest. Winners will be awarded $2,500 annually.
Jensen Physics Scholarship
If you are admitted as a first-year student for the Fall of 2026, and plan to study Physics, we invite you to apply for our Jensen Physics Scholarship. Winners will be awarded $3,000 to $8,000 annually.
Forester Flagship Program
Our Forester Flagship Program provides qualified in-state first-year and transfer students with 100% of the College’s tuition covered in grants and scholarships.
Outside Scholarships
"Outside Scholarships" refer to awards provided by an entity outside of Lake Forest College.
Curious about what different forms of aid mean?
One important thing to keep in mind when looking at colleges is that the actual cost is not always as high as the tuition price makes it seem. The price you see on the tuition and fees page is often different from the price you’ll end up paying out of pocket.
In 2025, 99 percent of Lake Forest College students received some form of financial aid.
Check out our free guide to making sense of financial aid.