Loan and Disbursement

All federal and state grants and loans are disbursed to students through direct deposit on or after the 14th school day of each semester.  All students are notified of disbursement dates via student email and will need to view their updated account information online through web registration.  An exit interview will be required before a student leaves school.

If a Pell and/or Minnesota State Grant is listed on your award letter it is based on a full-time credit status.  Full-time for a Pell grant is calculated at 12 credits and full-time for State grant is 15 credits.  If you drop below full-time status, your Pell and/or State grants will be adjusted for that credit level.  This adjustment is made after the fifth day of the fall and spring semester and verification of credit status from the Registrar's Office.

If you drop below half-time status (5 credits or less) you may still be eligible for a part-time Pell and/or State grant.  Loans will be affected if you drop below 6 credits.  You will not be eligible for any portion of your loan at 5 credits or less. 

Remember, you will be responsible for any tuition that is not covered by grants and/or loans.  When there is an adjustment in grant amounts due to a drop in credits, any balance due on your tuition billing is your responsibility.

Students are able to charge books against their remaining financial aid 5 days prior and 5 days after the start of the semester.  Tuition, fees and books can only be charged against a loan if there is a completed loan application in the Financial Aid Office.

Loans are funds available to students during enrollment and repaid once the student has finished school.  Loan eligibility for the student is determined by filling out the FAFSA.  Once eligibility is determined, the student completes an online loan application.  To be eligible for student loans, a student needs to take 6 or more credits per semester.