DCB catalog 2024-25

24 Financial Aid Programs Available Programs requiring the FAFSA application for determination of eligibility are: 1. Federal Pell Grant - A federal entitlement program, Pell grant provides funds to students who demonstrate a financial need in meeting college costs. As a grant, it does not need to be paid back if students adequately meet eligibility standards. 2. Federal Supplemental Educational Opportunity Grant (FSEOG) - These grants are available to a limited number of undergraduate students with exceptional needs and will be offered only to students who qualify for Pell Grants. 3. Federal Work Study (FWS) - Students eligible for financial aid may receive FWS for the year. A variety of jobs are available on campus and a list of positions is made available to students upon being offered work study. 4. Direct Loans (Subsidized Federal Stafford Loan) - 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 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 offered 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. 1. Part-Time Employment - Dakota College provides several 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. 2. Scholarships - Students may qualify for any number of scholarships offered by both private parties and the Dakota College Foundation or Alumni Association. Scholarships are funded from the income of endowed funds as well as annual gifts. If interested in additional information concerning institutional scholarships and applications, contact the Financial Aid Office. Dakota College uses one scholarship application form which students can use to apply for institutional scholarships. The scholarship application is located on the website at www.dakotacollege.edu . Financial Aid Offers The target date for financial aid offers is June 1. However, students must have submitted ALL information needed before offers can be made. Offers are based upon federal appropriations and may be reduced or increased proportionately depending upon the availability of funds and a student’s enrollment status at any time during the academic year. It is not always possible to offer students the amount or type of aid which they request or for which they are eligible. Federal regulations make it necessary to combine various forms of aid to best meet the needs of the students. However, students have the right to accept or decline any or all the aid offered. Students accept or decline their offers through their Campus Connection Account.