Financial Aid
When to apply?
Apply for financial aid early––as early as possible prior to starting classes. You don’t have to wait until you have applied to the College or registered for classes.
Apply
Complete the FAFSA application. The information you are asked to provide on the FAFSA is used to determine your eligibility for grants, federal student loans, and work study funds. Gather your Social Security number, your Income Tax Return, and your parent’s Income Tax Return (if you are under 24 and not married).
Minnesota West Federal School Code: 005263
Complete the Free Application
Summer Financial Aid
Loan Counseling
If you are a first time student loan borrower at Minnesota West, you must receive entrance counseling before your funds can be credited to your student account.
Entrance Counseling Exit Counseling
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Overview
Grants are awards based on your financial need.
Scholarships are awards based on financial need, academic achievement, minority status, program talent, and more.
Loans can be granted through federal, state, or private organizations
Work Study are federal or state funds that are paid for working in an eligible position.
To receive financial aid, the student must:
- Maintain Satisfactory Academic Progress (SAP).
- You must be enrolled in at least 6 credits when Minnesota West certifies and pays out your loan.
- Apply annually for financial assistance to demonstrate need.
- Notify the Financial Aid Office of any scholarships they will be receiving from outside sources.
- Be enrolled for all courses by the drop/add deadline each term.
- Provide accurate and factual information including changes such as withdrawal from school, reduction of number of credits below full-time status, any change in name or address, and/or owing a refund of Title IV funds to any institution.
- Be accepted and enrolled in a degree or certificate program.
If you become eligible for additional funding such as scholarships or third party funding, your loan eligibility may decrease. As a result, you may have to repay part of your loan funds to the college if you have already received the loan funds
If you are enrolled for just one semester at Minnesota West, your loan may be adjusted based on that shorter enrollment period. This could result in a reduction for what you are eligible to borrow. The amount listed in your award letter could be more than what you're eligible for. The amount will be revised by the college when they certify your loan.
Federal and state regulations require that all students maintain Satisfactory Academic Progress (SAP) in order to be eligible to receive financial aid. The purpose of this requirement is to encourage all students to progress steadily at a reasonable rate toward graduation.
Financial aid is provided for the purpose of attending school. It is the responsibility of each recipient to use his/her financial aid for educational purposes and carefully manage the funds provided.
Considering withdrawal from the college?
A portion of all aid received must be refunded to the appropriate aid programs upon
partial or full withdrawal from school.
If you are receiving any type of federal financial aid (grants or loans), your withdrawal
prior to the 60% point in the term may cause a repayment of funds received and can
prevent you from receiving federal financial aid in the future. Students who are in
default on any education loan will be denied financial aid.
A total withdrawal may also impact your ability to enroll at Minnesota West Community
& Technical College in the future. If you have a student loan, you need to complete
an exit counseling per the U.S. Department of Education Policies.
You are advised to discuss this with your advisor prior to withdrawing.
At any time after the Minnesota West Financial Aid office has received the FAFSA Application for Financial Aid, you may check the status of your financial aid application.
- Log in to eServices
- Enter your STAR ID and Password
- Choose Financial Aid
When your financial aid paperwork is complete, your funds will be disbursed on the Financial Aid Overage Disbursement date.
- All federal student loan requests are split into 2 disbursements, Fall and Spring. We presume you will be attending both semesters.
- Semester-only loans must be split into two disbursements. Half the loan amount will be disbursed starting the third week of classes. The other half will be disbursed mid-way through the semester.
- First-time loan borrowers must wait 30 days after the start of the term before the first disbursement can apply to their student account.
Textbooks may be charged using your financial aid if you have submitted a valid FAFSA to Minnesota West. Check the online bookstore for Semester Student Charging Dates.
Financial Aid Resources
This grant is available to full-time students who demonstrate financial need. Students must put a bachelor degree completion plan into place with advisor. Grants are a minimum of $500.00.
Student loan borrowers in default have options to repay their student loans. The U.S. Department of Education's Collections Department assists those in default by making repayment of their debts a simple process.
Online application for the Federal Direct Loan.
Available in Spanish and English, the Student Guide is a comprehensive resource on student financial aid from the U.S. Department of Education. The Student Guide tells you about grant, loan and workstudy programs and how to apply for them.
The financial aid estimator will help you estimate your eligibility for a Federal Pell Grant, Minnesota State Grant, and federal education tax benefits.
Parent and student guide to Federal tax benefits for tuition and fees.
Information for students and parents on preparing academically and financially for their future education.
The Minnesota State colleges and universities student loan service center.
Almost all male U.S. citizens, and male aliens living in the U.S. who are 18 through 25 are required to register with Selective Service.
Minnesota SELF loan information and counseling.
FAQs
No interest is charged on a subsidized Direct Loan while you are in school attending at least half-time. Interest does not begin to accumulate until after your 6-month grace period after you cease enrollment. An unsubsidized Direct Loan begins accruing interest immediately after you receive the funds.
Find the most up-to-date interest rates on the StudentAid.gov website.
Your grant funds and other gift aid will automatically be applied to your account at Minnesota West. You will need to apply for any loans that you are eligible for. You can do that on your e-Services Student Account.
If funds remain after tuition and fees are paid, the remaining funds are prepared in a check for disbursement to you.
If you have submitted a valid FAFSA to Minnesota West, you are eligible to charge your textbooks. If your financial aid does not completely cover the cost of your books, you will be required to pay the balance owed. To charge your books please visit the online bookstore and at the payment processing screen, select payment type "Fin Aid/3rd pty/VA/PSEO/Nelnet". You will need to know your 8 digit numerical ID. When making your purchase, if you are eligible, the system will allow the charge to be placed on your student account.
If your financial aid paperwork is complete, your funds will be disbursed on the Financial Aid Overage Disbursement date found on the student calendar.
Note: All federal student loan requests are split into 2 disbursements (Fall and Spring)
as we assume you will be attending both semesters.
Semester-only loans must be split into two disbursements. Half the loan amount will
be disbursed starting the third week of classes. The other half will be disbursed
mid-way through the semester.
First-time loan borrowers must wait 30 days after the start of the term before the
first disbursement can apply to their student account.
If you indicated on your FAFSA that you were interested in Work Study AND you qualify, your Award Letter will reflect the amount you are eligible to earn.
You receive financial aid based on the number of credits that you are taking so any change in your credits may affect the amount of aid that you are eligible to receive. You may have to return funds that were previously disbursed to you. If you withdraw after 60% of the semester is over, you may not have to return your financial aid. Check with your Advisor to discuss your individual situation before you withdraw from any classes.
Federal and State regulations prohibit you from receiving financial assistance that exceeds your calculated financial need or the cost of attending Minnesota West. Therefore, if you receive additional assistance that we were not aware of when we processed your application, you may be overawarded and we may reduce, cancel or collect back some of your awards.