FINANCIAL AID AWARD INFORMATION

Your award notification is for both fall and spring semesters. A summer award notificiation is processed for students who register for summer term.  Aid not used during fall and spring terms is generally the aid available during summer term.

How Financial Aid Eligibility is Determined
To determine your financial aid eligibility, we must first determine your need.  Financial need is determined by subtracting the Expected Family Contribution (EFC) from the Cost of Attendance (COA).  The EFC comes from the information you provided on the FAFSA.  The federal processor used the FAFSA information in a needs analysis formula to determine your EFC.

The COA is an estimate of your costs while attending HTC.  Estimated costs for two terms (fall and spring) at 15 credits/term are as follows:

Tuition and Fees:                 $5,132
Books and Supplies:           $2,000
Personal:                               $3,000
Transportation:                     $2,500
Room and Board:                $7,948
Total:                                     $20,580

The amount of need you have determines the amount of need based aid you are eligible to receive.  Need based aid includes grants, work study and federal subsidized loans. 

Overawards
The amount of assistance you receive from all sources, including private scholarships, cannot exceed the COA.  Therefore, if you receive additional assistance that we were not aware of when we processed your application, you may be overawarded.  If this happens, then we may have to reduce, cancel, or collect  back some of your aid.  Examples of additional assistance that might affect your eligibility include:

Scholarships
Vocational Rehabilitation Services assistance
Minnesota G.I. Bill
State Tuition Assistance (Military)
Federal Tuition Assistance (Military)
Tuition Waiver
 

Disbursement of Aid
Aid disbursement begins no earlier than the 15th day of the term and then weekly thereafter.  When financial aid is disbursed, it is applied to your tuition balance first and then if any aid is still remaining, it will be sent to you via Direct Deposit or a paper check in the mail (no checks can be picked up per school policy).  Financial aid is applied to your tuition balance in the beginning of the third week of the term and the disbursement by direct deposit is made on Friday of that same week.  Checks are put in the mail on Friday of the third week.

Grants and Loans are disbursed at the same time with one exception.  First time borrowers will have the disbursement of the loan delayed by 30 days.

If the loan period is for one term (fall or spring or summer), the disbursement of the loan will be split into two equal disbursements.  For example, a loan for fall term only will disburse towards the beginning of the term (September) and the other half will disburse at the mid point of the term (October).

If the loan period is for two terms, the disbursement of the loan will also be splint into two equal disbursements.  The first half will disburse fall term (September) and the second half will disburse spring term (January). 

If your first course begins after the 10th day of the term, your aid disbursement may be delayed until approximately three weeks after the start date of your courses.

The amount of aid that disburses is determined by your credit level and is subject to change if your credit level changes and/or if your attendance changes.

Please see Financial Aid Disbursements & Billing for more information.

Attendance Requirement
Receipt of financial aid requires that you attend your courses.  If you never start attendance in a course, you will not be eligible for aid for that course.  If you stop attending a course you may be ineligible for all of the aid awarded and/or disbursed to you.  If it is reported that you did not attend a course, or stopped attending a course, your eligibility for aid will be reviewed and adjusted if needed, and you will be responsible for any balance due to the college.  If you feel the last date of attendance, or no attendance, was reported incorrectly, you must resolve the issue with the instructor of that course.

Withdrawing From Courses
If you withdraw from some or all of your courses, HTC may be required to return all or a portion of your aid to the appropriate aid programs.  This may result in you owing the college.  Withdrawals will be on your academic transcript and they count towards satisfactory academic progress evaluations.

Satisfactory Academic Progress
Meeting Satisfactory Academic Progress (SAP) standards is required for all financial aid recipients.  At the time you fail to meet the SAP standards you become ineligible for additional financial aid.

For more information about Attendance, Withdrawing and Satisfactory Academic Progress, please see Financial Aid Policies & Procedures.

Repeating Courses
A student is generally eligible to receive aid for repeating a course as many times as needed to pass the course.  Once a course has been passed, a student has one additional attempt to improve the grade and then that course is no longer aid eligible.

Types of Aid
Types of aid disbursed at HTC include:
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (SEOG)
Minnesota State Grant
Minnesota Child Care Grant
Minnesota G.I. Bill
Minnesota Indian Scholarship
Minnesota Achieve Grant
Alliss Grant
Federal Direct Loans
Federal Work Study
Minnesota State Work Study

For more information about the types of aid, please go to Types of Aid.

Borrowing a Loan

The Work Study Program

REMEMBER!

  • A grant does not need to be paid back (if you attend and complete your courses).
  • A loan does need to be paid back, with interest.  Borrow only what you need.
  • The awards are based on your credit level. If your credit level changes, your awards may change.
  • You must be meeting Satisfactory Academic Progress standards at all times to be eligible for the awards offered to you.
  • If you never attend a course or stop attending a course, you are not earning the aid awarded to you. Your aid may be reduced and you will owe the college.
  • The disbursement of aid is based on the understanding that you will attend and complete your courses.

Contact our office if: 

  • You are not planning on attending courses at HTC.
  • You are not attending courses at HTC.
  • You want to withdraw from all of your courses.

Last updated by bscheffler : 2015-06-30 15:04:31