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Financing a College Education

Student receiving help from financial aid staff

Reminder - Complete your 2007-08 FAFSA as soon as you have completed your 2006 Tax Return.

Covering college costs is usually a cooperative effort involving student and parent resources and financial aid, which can consist of grants, scholarships, loans, and student employment.



The responsibility of financing a college education begins with students and parents and their financial capability to contribute to the costs. How much parents and students are expected to contribute is determined by a Department of Education Needs Analysis Formula.


Financial Aid
The amount of financial aid available to a student is also based on the Needs Analysis Formula. Like most colleges, Minnesota West makes these determinations based on information submitted by families on the Free Application for Federal Student Aid (FAFSA).

Submitting a FAFSA allows students to be considered for aid from the following programs:

  • Federal aid such as the Pell Grant, SEOG Grant, Academic Competitiveness Grant, Stafford Loan, and Perkins Loan.
  • State aid such as the Minnesota State Grant.
  • College employment through the Work Study program.


Scholarships
Minnesota West recognizes students who have demonstrated outstanding academic, leadership, service, and extracurricular achievements through the Minnesota West Scholarship program. Qualified students, regardless of financial circumstances, may apply for these awards.


Getting Started with Financial Aid
Minnesota West is ready to assist students and provide information about financing education. Get Started will guide students through the application steps. Students must apply for financial aid each year because financial, academic, or personal situations may change. The financial aid staff can help develop a plan that works for the student.

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