Understanding Your Financial Aid Award

If a Federal Pell Grant is listed in your award, your FAFSA reported that you are eligible for funding that can range from $0 to $7,395 per year.  The Pell Program is a grant and does not have to be paid back.  If you were awarded a Pell Grant, no further action is required for it to disburse to your student account.

The Supplemental Education Opportunity Grant is awarded to the neediest students that does not require repayment. We are given a small amount of this funding each year and it is awarded on a first come, first served basis.

Students must demonstrate financial need, be a Minnesota resident attending a Minnesota college, and be enrolled in at least 3 credits to be eligible for this program. The financial aid office will determine your eligibility for a Minnesota State Grant. This program is a grant and does not have to be paid back. If you were awarded a Minnesota State Grant, no further action is required for it to disburse to your account.

North Star Promise will be automatically awarded to eligible Minnesotans with family Adjusted Gross Incomes from 2024 less than $80,000. You can find your AGI listed on your 2024 Federal 1040 on line 11. The scholarship will be manually calculated and awarded, based on the FAFSA application,  after the add/drop period closes.

These loans are low-interest and can help students with the cost of College. Federal Direct Loans are in the student’s name and are borrowed directly from the Federal Government. You are not required to borrow loans.

NEW 26-27: Federal Direct Loan eligibility will be reduced for students enrolled less than full time.  You can read more about this change and others for 26-27 here.

The amounts listed in Awards by Credit Level are currently only showing the loan calculation at full time. Additionally, if you receive any subsequent, additional funding, your loan eligibility may change. If this is your last term at PTCC, your loan eligibility may change due to Proration (term credits/24 credits).

To receive the loan funds you requested, you must be registered for 6 or more credits.

You do not have to begin repayment on your loans until 6 months after you drop below 6 credits, including graduation.

• Subsidized portion: No interest accrues until 6 months after you drop below 6 credits, including graduation
• Unsubsidized portion: Interest accrues while taking classes.

To apply for loans go to the PTCC e-Services. After logging in select “Financial Aid” on the left side and then select “Loans”. Follow the steps provided in the “Loan” section. For first-time borrowers, you will need to complete Direct Loan Entrance Counseling (EC) and a Direct Loan Master Promissory Note (MPN). Both steps can be completed by following the PTCC E-Service direct loan process. You do not need to request the full amount. When borrowing any type of loan, please consider the amount you will have to repay later.

* Loans will not be certified until after the add/drop deadline in order to disburse the correct amounts based on the new loan regulations. More information can be found here. 

Work Study is part-time employment to assist students with the financing of their education. Students can earn an hourly wage that is paid directly to them on a bi-weekly pay schedule.  Work study eligibility is determined from your FAFSA results and is displayed on your award letter.

• Work study positions pay $14.00 per hour.
• Eligibility for a work-study position is displayed on your PTCC Award Letter as either “Federal CWSP” or “MN SWS”.
• You must be enrolled for at least six (6) credits to be eligible for a work-study position.
• Being awarded work-study doesn’t guarantee employment.
• Current job openings are posted and can be applied for online on Pine’s Student Employment webpage.
• Work study positions offer flexible employment and excellent experience.

Applications are available in the Financial Aid Office for help in covering your childcare costs. You must be a Minnesota resident and be enrolled in at least six (6) credits and not be receiving assistance from any county programs. Funds are limited, so apply early.  Each summer, a new application is released on Pine’s Child Care Resources webpage.

Like grants, scholarships are a form of aid that doesn’t have to be repaid.  Scholarships are a great resource and are offered through a variety of sources.  When searching for scholarships, beware of scams.  A legitimate scholarship will never require an application fee or require any other form of payment.

• Pine Technical & Community College Scholarship Resources
• Other Scholarship Resources
  • Check Fastweb national scholarships.
  • Other Minnesota Scholarships
  • Check with your local businesses and organizations to see if they are offering any scholarships.