Student Financial Aid Options
Loans and grants are some of the most common forms of financial aid. But we know that finding ones for which you may qualify can seem like a daunting task. Don’t worry. Our financial aid representatives can help sort through all your options. We work with both public and private lenders to help students who qualify defray the cost of their education.
Federal, State and Private Loans
Loans are a form of financial aid that you need to pay back, but the good news is that federal student loans may offer lower interest rates. That allows you to spread your payments out into more reasonable amounts without having to pay as much in interest. Some of the available loan programs include:
- Federal Direct Loan Subsidized and Unsubsidized: This loan is based on need. It is a long-term federal loan with low-interest rates.
- Federal Direct Parent Loan for Undergraduate for Students (PLUS) loans: This loan is commonly used by parents of undergraduate students who are still dependents to help cover education expenses.
- Alternative Loan Programs: Most banks and financial institutions offer privately funded student loans.
We encourage all students to look into grant opportunities because it’s money you don’t have to pay back. Grants are often need-based. You must fill out a FAFSA to help determine whether you qualify. Some available educational grants include:
- Federal Supplemental Educational Opportunity Grant (FSEOG): The amount awarded for this grant is based on financial need.
- Federal Pell Grant: Pell grants are based on financial need, tuition costs and your status as a full-time or part-time student.
- Minnesota State Grant: This grant helps students from low and moderate-income families pay for educational expenses at eligible Minnesota colleges and universities.
Other Financial Aid Opportunities
Contact an admissions representative to learn more about the following financial aid opportunities:
- American Indian College Fund
- GI Bill Benefits
- VA Benefits