Aid Programs/Options
Most of the financial aid programs below require that you complete the annual FAFSA in order for the Financial Aid Office to determine if you are eligible. Some programs will require additional applications. In addition, most programs require that you remain enrolled for at least six (6) credits, maintain satisfactory academic progress and be pursuing an aid-eligible major. We encourage you to check out all the details behind your federal or state aid awards!
Grants
Loans
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Federal Subsidized Stafford—need-based; maximum award of $3,500/year for freshmen and $4,500/year for sophomores; 5.6% interest rate (beginning July 1, 2008) and a six-month grace period; requires an online loan application and loan counseling.
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Federal Unsubsidized Stafford Loan—Non-need-based; interest accrues immediately on borrower's account; the borrower has the option of repaying the interest while in school; total (sub & unsub) maximum award of $5,500/year for dependent freshmen, $9,500/year for independent freshmen, $6,500/year for dependent sophomores and $10,500/year for independent sophomores; 6.8% interest rate and a six-month grace period; requires an online loan application and loan counseling.
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Federal Perkins Loan—Maximum award of $2400/year; carries a simple interest rate of 5% and a nine-month grace period; requires exceptional need and an early application
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Minnesota State SELF Loan—Non-need-based; maximum award of $7,500 per grade level; carries a flexible interest rate which varies on a quarterly basis; requires a credit-worthy co-signer and an additional application and loan counseling; See Financial Aid for an application
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Federal PLUS Loan—Non-need-based; maximum award is up to cost of attendance less all other financial aid; parent is the borrower; See Financial Aid for an application
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Alternative (Private) Loans – A private student loan is a nonfederal loan issued by a lender such as a bank or credit union. private student loans often have variable intrest rates, require a credit check and do not provide the benefits of federal student loans. These loans should be considered ONLY after the other loan options listed on this page have been exhausted.
Work-Study
- Federal Work-Study—Maximum award of $4000/year, which can be earned working 5-15 hours/week starting at $8.00/hour
- Minnesota State Work-Study—Maximum award of $4000/year, which can be earned working 5-15 hours/week starting at $8.00/hour
- Institutional Work-Study—Non-need-based; limited to highly-skilled workers or hard-to-fill jobs
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Work-Study: What You Need to Know
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Student Employment Opportunities
Scholarship Opportunities
The following scholarship opportunities require separate application procedures from the FAFSA. Scholarship Tips including Information on College Grant Scams
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Alliss Educational Foundation Grant
 —The Alliss Grant covers the cost of tuition and books for one class during the first term of enrollment; it’s designed for adult learners who have been out of college for at least seven years and have not earned a bachelor’s degree
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Anoka-Ramsey Community College Scholarships —The Foundations on each campus award scholarships to students based on criteria such as, academic success, leadership skills, major field of study or potential for success; financial need may not be a consideration; applications are due at the end of March and recipients are notified in May of each year
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Scholarship Opportunities —Community agencies, businesses and other organizations sponsor many scholarships for students attending college
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Scholarship Search Database —For students who wish to conduct additional searches using a scholarship search program
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