DCB catalog 2020-22

General Information 29 Students may be eligible to receive a fixed low interest guaranteed student loan from the federal government. Currently, depending upon eligibility a student may be able to borrow up to $3,500 per year as a freshman or $4,500 as a sophomore. 5. Unsubsidized Federal Stafford Loan The Unsubsidized Stafford Loan is a non-need-based loan program. Students who may not be eligible for any or all of the Subsidized Stafford Loan Program may be offered a loan through the Unsubsidized Loan Program. Interest will not be deferred while the student is attending college; therefore, the student must pay the interest while attending college. 6. North Dakota Student Financial Assistance Program (State Grant) The program provides grants to undergraduate students. To be eligible, the student must be a resident of North Dakota, a high school graduate, or hold the Graduate Equivalency Diploma (GED), and be able to meet all requirements for admission as a student of an eligible institution. The FAFSA serves as the application for the program. Aid Programs Requiring Additional Applications: 1. Federal Parent Loan for Undergraduate Students (FPLUS) Parents may be able to borrow low-interest educational monies for their children to attend college. Repayment begins 60 days following the disbursement. 2. Alternative Loan If the amount of financial aid awarded is not enough to cover educational expenses, alternative loans are available. Alternative loans are offered by for- profit loan companies. While payments may be deferred during the time a student is enrolled in college, interest on the loan will accrue. Therefore, students should exhaust all other possible resources (e.g., income from a job, parental assistance, money from savings, etc.) before seeking an alternative loan. 3. Part-Time Employment The College provides a number of part-time jobs not associated with any federal program. Jobs are on campus and include maintenance, library work, secretarial work, food service, teachers’ aides, and many more. 4. Scholarships Students may qualify for any number of scholarships offered by both private parties and the DCB Foundation or Alumni Association. Scholarships are funded from income of endowed funds as well as annual gifts. If interested in additional information concerning institutional scholarships and applications, contact the Financial Aid Office. The College uses one scholarship application form which students can use to apply for institutional scholarships. The scholarship is located on the website at www.dakotacollege.edu .