Scholarships, Grants & Loans

Federal Pell Grants usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree. 

A Federal Pell Grant, unlike a loan, does not have to be repaid, except in cases of non-attendance.  

You may not receive Federal Pell Grant funds from more than one school at a time. 

Please note that you can receive the Federal Pell Grant for no more than 12 terms full-time terms or the equivalent (roughly six years). 

The Federal Supplemental Educational Opportunity Grant (FSEOG) is awarded to a limited number of eligible students 

As mandated by federal guidelines, FSEOG awards are awarded to students who are eligible for a Federal Pell Grant with exceptional financial need. 

Each institution has limited funding in FSEOG. 

The Minnesota Office of Higher Education annually awards Minnesota State Grant to eligible Minnesota residents. 

Students must submit their FAFSA application to the federal processors no later than 30 days after the start date of the first term for which they are applying. 

Eligibility for the Minnesota State Grant program is exhausted after a student has reached the equivalency of four (4) years of full-time enrollment.  

The Minnesota GI Bill program provides postsecondary financial assistance to eligible Minnesota veterans and service members who have served in the U.S. Military and to the children and spouses of deceased or severely disabled eligible Minnesota veterans and service members who have served in the U.S. Military. 

An applicant must: be a veteran who is serving or has served honorably in any branch of the U.S. armed forces at any time; or a non-veteran who has served honorably for a total of five years or more cumulatively as a member of the Minnesota National Guard or any other active or reserve component of the U.S. armed forces, and or a surviving spouse or dependent of a person who has served in the military at any time, and who has died or has a total and permanent disability as a direct result of that military service. 

The student must also: 

• be a Minnesota resident; 
• apply for the Minnesota GI Bill benefits before the last day of the term for which benefits are requested; 
• be less than 62 years old before the beginning of the term for which benefits are requested; 
• be current on child support obligations, if applicable; 
• be enrolled in an eligible MN post-secondary institution in a certificate, diploma or degree program; 
• be making satisfactory academic progress in his or her academic program. 

The Childcare Grant program provides financial assistance to students who are Minnesota residents, have children 12 and under, are not receiving assistance under the Minnesota Family Investment Program (MFIP), and who demonstrate financial need for grants, to help pay for childcare while pursuing a postsecondary education. Funds are limited and awarded on a first-come basis. 

For more information and to apply, visit our Childcare Resources page.  

The North Star Promise (NSP) Scholarship program creates a tuition and fee-free pathway to higher education for eligible Minnesota Residents at eligible institutions.  The NSP scholarship is considered a “last-dollar” program by covering the balance of tuition and fees remaining after other scholarships, grants, stipends, and tuition waivers have been applied.

February 20, 2025:  Important Updates and Changes

Due to a projected spending deficit in the North Star Promise program, the Minnesota Office of Higher Education has announced the following changes :

• For Summer 2025, no NSP Plus funds (see description below) will be awarded.
• Beginning 2025-2026 (Fall 2025, Spring 2026, Summer 2026):
  • Only resident undergraduate tuition and mandatory fees will be included in the NSP award calculation.
  • No NSP Plus funds will be awarded.

Eligible students must

• Be a Minnesota resident
• Have a family Adjusted Gross Income (AGI) below $80,000 (FAFSA or MN Dream Act application)
• Attend a Minnesota public higher education institution or Tribal College
• Not be in default on a state or federal student loan
• Meet Satisfactory Academic Progress (SAP) standards
• Have not already earned a baccalaureate degree
• Be enrolled in a program or course of study that applies to a degree, diploma, or certificate

What does “last dollar” mean?

The scholarship will cover the balance of your tuition and fees after other gift aid funding (scholarships, grants, tuition waivers, certain veterans’ benefits, etc.). Any grants or scholarships you already have (from the university, private companies, community scholarships, etc.) would first be applied to your tuition and fees balance before the North Star Promise Scholarship is calculated. Loans and work-study are not sources of gift aid.

Other costs, such as housing, food, books, supplies, and transportation, are not considered for the North Star Promise Scholarship.

Application Process

• Complete the Free Application for Federal Student Aid (FAFSA) or Minnesota Dream Act Application.
• That’s it! The Financial Aid office will determine your eligibility on a term-by-term basis and award North Star Promise scholarships to all eligible students.

NORTH STAR PROMISE PLUS (NSP+) AWARD

North Star Promise Plus (NSP+) is a supplemental financial aid award given to students who are North Star Promise (NSP) eligible and who receive a Federal Pell Grant.

Update: These funds are not available to students for the Summer 2025 term, and the 2025-2026 school year (Fall 2025, Spring 2026, Summer 2026).

For more information on the NSP and NSP+, please visit: Minnesota North Star Promise Scholarship Program

Direct Loans: Offered by the federal government or a third-party lender, Stafford Loans can be subsidized or unsubsidized. 

• Subsidized loans The Department of Education pays the interest: 

• • While you are enrolled at least half time 
  • First six months after you leave school (grace period) 

• • During a period of deferment 

• Unsubsidized loans You are responsible for paying interest on this loan during all periods. Students may choose to pay interest while attending school so that it doesn’t increase the principal balance. 

Interest Rate
The interest rate for undergraduate students whose subsidized or unsubsidized Direct Loan is disbursed on or after July 1, 2023 through July 1, 2024 is fixed at 5.50%. Any loan with a first disbursement date on or after October 1, 2020 and before Oct. 1, 2023 has a loan fee of 1.057%. 

Six-Credit Minimum
In order to be eligible to receive a loan, you must also be enrolled in at least six credits each semester. In addition, each of the loan programs listed above, have a six-month grace period before you are required to begin repayment on a loan (for example if a student drops below six credits (half-time) due to withdrawing from one or more courses). If you withdraw and are enrolled in less than six credits, your grace period will begin. 

Circumstances that may change your grace period include the following: 

• Active duty military—If you are called to active military duty for more than 30 days before the end of your grace period, you will receive the full six-month grace period when you return from active duty. 
• Returning to school before the end of your loan’s grace period—If you re-enroll in school at least half-time before the end of your grace period, you will receive the full six-month grace period when you stop attending school or drop below half-time enrollment (other conditions apply). 
• Loan consolidation—If you consolidate your loans during your grace period, you will give up the remainder of your grace period and begin repayment after your Direct Consolidation Loan is disbursed (paid out). Your first bill will be due approximately two months after the Direct Consolidation Loan is disbursed. 

How do I get these loans? 

After completing the Free Application for Federal Student Aid (FAFSA) application, you will be offered loans in your financial aid package to accept or decline. 

Steps to apply for federal direct loans: 

• Go to Pine Technical & Community College’s E-Services.  
• Log-in with your StarID and password.  
• Select Financial Aid in the left-hand column.  
• Select Loans.  
• Instructions will direct you to complete Entrance Counseling, Master Promissory Note, and requesting of loan funds.  

If you need additional assistance completing the loan process, please see How To Request a Student Loan. 

Parent Loans for Undergraduate Students (PLUS) are for parents whose children are enrolled at an approved educational institution at least half-time (six credits). 

• The maximum loan amount is based on the student’s other financial aid and the cost of attendance. 
• Interest accrues and payments are required from the time the loan is made until it is paid off. 
• You must not have an adverse credit history 

The interest rate for parents whose PLUS Loan is disbursed on or after July 1, 2023 and before July 1, 2024 is fixed at 8.05%. 

Any loan with a first disbursement date on or after Oct. 1, 2020 and before Oct. 1, 2023 has a loan fee of 4.228%. 

Before applying for a private loan, students should complete the Free Application for Federal Student Aid (FAFSA) to determine if they are eligible for federal financial aid. 

Eligibility for private loans is based on the eligibility of a borrower and/or co-signer. Private loans may have higher interest rates than federal loans and should only be considered as a borrowing option after all federal loan eligibility has been exhausted. 

Students have the ability to refuse all loan funds or accept only a portion of the loan funds made available to them. If you wish to cancel or refuse all or a portion of your loan, please contact the financial aid office directly by email FinancialAid@pine.edu 

Selecting a private lender is the responsibility of the student. PTCC makes the private loan search tool FASTChoice available to students to compare loan options for a number of lenders so that they can choose the loan that fits their needs. Pine Technical & Community College does not endorse any one lender; a student may choose any private loan lender they would like. The lenders listed on the FASTChoice website are lenders who have most commonly provided private loans to PTCC students over the past three years.Under the Truth in Lending Act rules, private education loans are subject to self-certification, three consumer disclosures at specific times in the application process, and at least a three-day delay in disbursement. Due to the number of steps involved in the private loan application process, applicants should allow a minimum of three (3) weeks for processing.This information is intended to be accurate, but the publisher does not assume liability for errors or omissions. 

Please remember: 

• Students have the ability to refuse all or accept only a portion of the loan funds available to them. If you wish to cancel all or a portion of your loan funds, you must provide a written request to the financial aid office. For questions on what is required to cancel your loan, contact the financial aid office by email FinancialAid@pine.edu 
• All loans must be repaid. Make sure you understand when repayment of principal and/or interest is expected. Payments to some loans may begin earlier than others.  
• Make sure you understand all of your rights and responsibilities under the loan program(s) you choose and contact the lender with any questions you may have. 
• If you are using a co-signer to acquire a loan, make sure they understand their obligations. 
• If you are given the option of either paying or accruing the interest while you are in school, it is recommended that you pay the interest now rather than adding it to your loan debt. 
• Borrow wisely! Do not borrow more than what is needed to achieve your educational goals. There are limits to what you can borrow as an undergraduate student regardless of if you are attending a two year or four-year institution. 

• If you receive a Federal Direct Loan, the information is sent to your loan servicer. If you have questions about your loans when you enter repayment, we encourage you to contact your servicer. To find information about your servicer, visit the Student Aid website, studentaid.ed.gov. You are responsible for repaying student loans that you receive at Pine Technical & Community College. Other state agencies, federal agencies, colleges, and credit companies will have access to information about the loans you agree to repay. It is in your best interest to have regular communication with your loan servicer as failure to repay can have negative consequences. 
• Borrowers who have dropped below six credits or will be graduating  are required to complete Direct Loan Exit Counseling. By completing this session, borrowers will also gain a better understanding of the Direct Loan repayment process.   
• If you are having issues with your student loan lender or servicer, the Student Loan Advocate with the Minnesota Department of Commerce is here to help.  To file a complaint, please visit our web page.  For general questions, please contact Student Loan Advocate at jabra.kawas@state.mn.us or 651-539-1022.