Financial Aid Opportunities
There are several financial aid options available to students who plan on utilizing financial aid to cover tuition costs. Federal aid can include (for those who qualify): PELL grant, Academic Competitiveness Grant (ACG), and the William D. Ford Stafford Loans (subsidized and unsubsidized). In addition, there are a variety of alternative loan options available as well.
All applications (federal, state and private) should be submitted at least 4 weeks prior to the beginning of the quarter to have funds available within the first few of weeks of the quarter.
All students should be aware that the Free Application for Federal Student Aid (FAFSA) is only good for one academic year. The FAFSA is an online application and can be completed here by going to the FAFSA website: www.fafsa.ed.gov . All financial aid applicants will need to submit a new application to renew their funding. Students are responsible for timely submission of their financial aid applications.
Failure to submit the financial aid application, or any financial aid form, in a timely manner may result in the student being responsible for any tuition and fees owed.
Minnesota State Grant Program
Students may apply for a Minnesota State Grant (MSG) by completing the
Free Application for Federal Student Aid (FAFSA). The FAFSA is available online at www.fafsa.ed.gov.
A Minnesota State Grant (MSG) award is considered gift aid and represents funds that DO NOT have to be repaid. Eligibility is determined by applying a formula, created by the Minnesota State Legislature, to the information submitted on the FAFSA to determine the amount of award. The cost of attendance budget is determined by the Minnesota Office of Higher Education (MOHE) for each institution. Award ranges will vary from institution to institution, as cost of attendance figures will be different with each school.
Aid is disbursed by the school to the student’s tuition account. The school expects the student to meet tuition, book and lab fee charges when due. MSG awards are disbursed by week 4 of each quarter. The institution is responsible for monitoring student eligibility according to the State regulations that govern this program.
To be eligible to receive a MSG for a quarter, the student‘s original FAFSA must be received by the Federal application processing center (CPS) within 30 calendar days of the start date for that quarter.
Credit-based student loans through private funding may also be available. Please see the Financial Aid Office for details.