College Financial Aid Information
NEW Free Application for Federal Student Aid (FAFSA)
New FAFSA soft launch application is now available.
For more information please visit the FAFSA wesite for updates.
STUDENTS and PARENTS will need to create a FAFSA account and get their account verified BEFORE applying with FAFSA.
Visit the FAFSA website to establish both a student and parent account to obtain your FSA ID which is needed to complete both the student and parent FAFSA forms.
Applying for FAFSA:
Establish a student and parent FAFSA account to obtain a FSA ID before being able to apply for FAFSA.
WHAT TO KNOW ABOUT THE SOFT LAUNCH
- Complete and submit a free application for federal student financial aid and to apply for most state and college aid.
- Download and print the FAFSA Worksheet to assist with the application
- Apply online starting by January, 2024
- Students may be unable to access the FAFSA due to periods of maintenance downtime throughout January. The form is expected to be fully available later in January and February. There is still plenty of time to submit the FAFSA before the March 15th priority deadline.
- Although students may be able to complete the form, FSA will not transmit their FAFSA to any institution until late January.
- Upon submission, students will receive a confirmation email noting their submission date, estimated Student Aid Index (SAI), and estimated Federal Pell Grant eligibility.
- Students will receive an email when their FAFSA Submission Summary is available to view online.
HELPFUL Website Links:
Federal Student Aid online information
CREATE an FSA ID with FAFSA
Who is Eligible for FAFSA?
Students with family incomes up to $65,000 may be eligible for Pell Grants. However, most Pell awards go to students with family incomes below $30,000 but this depends on the family size too! It is FREE to apply for Federal Pell Grants.
FAFSA quick estimate: Estimator
The U.S. Department of Education’s federal student loan program has four types of Direct Loans available:
- Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
- Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
- Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
- Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.
Minnesota Career Information System (MCIS)
Students can apply for financial aid to help pay for college. They can use their MCIS account to research and learn more about government financial aid, scholarships, grants and more.
- Log into MCIS (Log in with Clever, using student Gmail account user and password)
- Go to Financial Aid, Scholarships, Grants and Information
Tuition Reciprocity Programs
Minnesota has reciprocity agreements with Wisconsin, North Dakota and South Dakota for the cost of tuition at state colleges and universities.
Midwest Student Exchange Program students attending school at state colleges in Kansas, Michigan, Missouri, & Nebraska may be eligible for reduced tuition rates. Students will pay 150% of regular in-state tuition under this program. A 10% tuition discount may apply at certain private colleges in these states.
Military Financial Aid Resource
Financial Aid for Military Service Members and student veterans information is available with Best Colleges. Military Tuition Assistance Programs, federal student aid for service members and veterans with additional resources for financial assistance visit: Best Colleges