Need Based Grants
- Federal Pell Grant for students and families that qualify
- Minnesota State Grant for students and families that qualify.
The above grants require a completed FAFSA.
All loans require a completed FAFSA, except for some alternative loans which may have no requirements.
- Stafford (assuming the student is independent on the FAFSA)
Freshman (0 -31 credits) $9,500 maximum
Sophomore (32-63 credits) $10,500 maximum
Junior or Senior (64 or more credits) $12,500 maximum
There are two types of Stafford loans:
- Subsidized (federal government pays interest while student is in school)
- Unsubsidized (student pays interest while in school or interest accrues)
Accepting a Stafford Loan
To accept a Federal Stafford Loan, please complete the Stafford loan entrance counseling and sign this Stafford Master Promissory Note (MPN).
- Private Educational Loans
If your tuition was not covered fully by Federal Stafford loans and Need-Based Grants, you will need to pay the remainder out of pocket or apply for a Private Educational loan. There are many types of student loans, and it is important for you to choose the one that best meets your needs.
FASTChoice is a tool that helps you to compare lenders and their loan products