Financial Aid

Making College More Affordable. Find out which loans, grants and scholarships you qualify for today.

We know you are here to follow your dreams and pursue your passion. We don’t want the cost of your education
distracting you from that. That is why our financial aid representatives will work with you to help find all financial aid
opportunities you may qualify for, whether it is loans, grants or scholarships.

Financial Aid for Students

If you want to get a jump on things, the first step is to fill out the Free Application for Federal Student Aid (FAFSA). You can access it online. IPR’s federal school code is 041302. The results of the FAFSA will help us assess your eligibility for various financial aid options.

Guide to Financial Aid

How are you supposed to earn a degree when you can’t afford the tuition? Here’s some straight talk for you. This full-length guide to financial aid is honest about the realities of financing this big investment. We’ll show you how to pay for your education without breaking the bank.

Learn More

Primary Sources of Financial Aid and How to Apply

One of the most common ways students fund their education is through loans and grants. Grants are often preferred because they do not need to be paid back. But loans can be helpful in helping to stretch out payments into manageable amounts, and some don’t need to be paid back until after you graduate.

Federal, State and Private Loans

LoansAward TypeAmount per YearApplication
Federal loan program extended to eligible student upon completing the FAFSA.
Long-term, low interest loan (current rate is 3.73%*)
Payment deferred until six months after student leaves school or attends less than half time.
Need based calculation.
*Rates are effective 7/1/2021. Check the website for current interest rates and loan
origination fees.  
1st year up to $5,500
(Dependent), $9,500
2nd year up to $6,500
(Dependent), $10,500
3rd/4th year up to $7,500
(Dependent), $12,500
Free Application for Federal StudentAid (FAFSA) form, Master Promissory Note, and Entrance Counseling
Long-term, low interest loan (current rate is 6.28%*) for parents of dependent undergraduates.
Rates are effective 7/1/2021. Check the website for current interest rates and loan origination fees.
Up to cost of attendance
minus all other financial
Free Application for Federal
StudentAid (FAFSA) form and
Federal PLUS Master
Promissory Note processed
through school and private
Supplemental variable or fixed interest rate loans are available. Alternative loans are privately funded and may require a co-signer.Up to tuition, fees, and book
costs (Lender determines
amount awarded based on various factors)
Applications processed through third-party loan lender/servicer


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:

Grant based on financial need. The student receives notification of eligibility with receipt of
Student Aid Report (SAR), which must list the appropriate school code for determination of
amount based on cost and credits.
$220 to $6,495 Free Application for
Federal Student Aid
(FAFSA) form
Grant is based on financial need. Applicant must be an undergraduate student with Minnesota
residence. The student must submit FAFSA form with appropriate school code listed for
determination of amount of the award, based on cost, credits, and legislative appropriations.
$100 to $6,454Free Application for Federal
StudentAid (FAFSA) form and
School Financial Form
Grant is based on financial need and is awarded by the institution. Notification is made approximately four weeks after start date.$800 to $2,400Free Application for Federal
StudentAid (FAFSA) form

Student Support

We know paying for college can be stressful. We are here to help you find ways to make it more affordable, so you can focus on what matters most — your art. IPR’s financial aid staff will help you discover what kinds of aid are available. To get an idea of what you might need to pay, use the net price calculator.

financial aid loans and grants at IPR


Scholarships are another great financial aid option for those who qualify. At IPR, we offer a wide variety of scholarships that cover an array of students, including high school students and military personnel

Academic Merit Scholarship : provides up to $3,000 in merit awards, depending on student’s high school CGPA, ACT or SAT scores.

Student Engagement Scholarship:  IPR is  dedicated to increasing student access to IPR programs and to making programs affordable. We will be offering students a $1500/term scholarship to support their ability to start a program at IPR and to see them through program completion.

Business Alliance Scholarship : provides funds based on partnerships with businesses committed to assisting IPR students. Employees of IPR Business Alliance Partners who fulfill certain requirements are eligible for discounted tuition.

Community Service Scholarshiprewards students for community service and continued enrollment. The scholarship, worth $2,000 annually, is awarded to two students per quarter.*

Director’s Academic Scholarship: awards graduating high school seniors up to $5,000 toward tuition, depending on their scores on the Wonderlic SLE.

The BEC Matching Scholarship: doubles the value of certain scholarships awarded by businesses, civic institutions and other organizations, up to $1,000 per academic year.

High School Advantage:Currently attending high school juniors and seniors may qualify for a scholarship of up to $2,000  to be applied toward the cost of one course and the accompanying fee, for up to seven terms.

The IPR Graduate Scholarshipintended for those who have already graduated from IPR but wish to return to complete another degree. The baseline award amount is $2,000, but graduates with a 3.5 or better CGPA may qualify for $3,000 toward their second degree.

The Mary Ann O’Doughtery World Music Scholarshipawarded to one student per quarter chosen randomly from registrants of the World Music course. The recipient will receive class books at no charge.

The Military Scholarship: qualified military personnel and their family members may be eligible for this scholarship. Recipients receive $480 per quarter. Applicants need to fill out the Application for Military Scholarship.

President’s Scholarship:  offers awards up to $5,000 depending on a prospective student’s application date and high school GPA.

Professional Certification Scholarship: eligible students may get reimbursed for the cost of certain certification examinations. An application can be found here.

Brand Lab Scholarship:  $2000 annual scholarship awarded to students who have participated in The Brand Lab and are enrolled in an associate or bachelor’s program at IPR.