Financial Aid

Financial Aid at Alexandria Technical and Community College consists of scholarships, grants, loans, and work-study. The purpose of these types of aid is to assist students who, without this aid, would be unable to enroll in college. The Alexandria College Financial Aid Office is committed to assisting students in paying for their education while assuming as little debt as possible.

This aid is designed to contribute to the difference between what a student and the student's family are expected to contribute and the cost of attendance (COA) which includes tuition and fees, books and supplies, room and board, transportation and personal expenses.

FAFSA

Completing the Free Application for Federal Student Aid (FAFSA) is the first step in the Financial Aid process. Submit your FAFSA as soon as possible to avoid delays in your financial aid disbursement. There is never a fee to complete the FAFSA.

ATCC's FAFSA code: 005544

FAFSA »

Financial Aid Resources


How to Apply for Financial Aid

The Free Application for Federal Student Aid (FAFSA) is the common application for all financial aid programs.  Complete the FAFSA online or download the myStudentAid mobile app. Financial aid is processed in the order the requests are received; students are encouraged to file the FAFSA as soon as possible after October 1. Students must file a FAFSA for each year they plan to attend college.

Step 1: Create an FSA ID.

Your FSA ID is a username and password that gives you access to Federal Student Aid's online systems and can serve as your legal signature. Be sure to use your full legal name and that your social security number and date of birth are correct.

If parent data is required on the FAFSA, one parent must also create his/her own FSA ID to sign the FAFSA electronically. You cannot use the same email address; each FSA ID user must have a unique email address.  

Here is a helpful Video from Federal Student Aid

Step 2: Fill out the Free Application for Federal Student Aid (FAFSA).

The application is free and it is the first step in the process of applying for federal and state aid.  ATCC’s school code is 005544. The academic school year is fall, spring, and summer semesters.

What will I need to fill out the FAFSA?

  • Your Social Security Number
  • Your Alien Registration Number (if you are not a U.S. citizen)
  • Your federal income tax returns, W-2s, and other records of money earned. Note: You may be able to transfer your federal tax return information into your FAFSA using the IRS Data Retrieval Tool. The IRS Data Retrieval Tool is a safe, secure and accurate way to insure the correct data is used.
  • Bank statements and records of investments (if applicable)
  • Records of untaxed income (if applicable)
  • An FSA ID to sign electronically.
  • If you are a dependent student, then you will also need most of the above information for your parent(s).
  • Alexandria Technical & Community College's FAFSA Code: 005544

This video offers a FAFSA overview from Federal Student Aid

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What Happens After I Apply?

Once you have been accepted into a program at ATCC, here is what will happen:

  • Preliminary Financial Aid Award Offers will be mailed around mid-March unless we need additional documentation to complete your file.
    • If we need any additional documentation to complete your file, our office will send you a letter requesting the information. Respond promptly to information requests, as your financial aid file will be on hold until we receive the requested documents/information.
  • You will then receive an email in June informing you of the process for accessing your Financial Aid Award Offer, steps for getting a work study job (if eligible and interested), and the process for borrowing Federal Direct Student loans.
  • Each semester that you are enrolled, the Financial Aid Office will review your eligibility for financial aid at the beginning of each term. At the end of the drop/add period (after the fifth day of each term), the Business Office will apply your financial aid awards to your student account. If the amount of financial aid exceeds your account charges, an overage check will be mailed to your local address on file or direct deposited into the bank account of your choice. You may set up your direct deposit through e-services.
This video will give you general information on what happens after the FAFSA is submitted.

 

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Loans

Loans are a major source of funding for college. Almost everyone can borrow. The question is how much and who pays the interest. Students can borrow and parents of dependent students can borrow to help pay for college costs. Loans must always be repaid. Loan programs available to ATCC students and their parents are described below. Complete the FAFSA before applying for Loans.

Alexandria Technical & Community College participates in the Federal Direct Student Loan program and Federal Direct PLUS Loan program. Direct loans will be originated and serviced by the Federal Government.

More information on Direct Loans can be found at Dept. of Education Federal Direct Loans.

Descriptions of loans and additional information are listed below.

Subsidized Student Loan is for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods. Annual loan limits apply.

Unsubsidized Student Loan is not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. Annual loan limits apply.

The process for completing the Federal Direct Loan will be provided in the Student's Financial Aid Award Letter. You can access your Financial Aid Award Letter by logging into eServices.

Federal Parent Loan for Undergraduate Students (PLUS)/Federal Direct Parent Loan is not a need-based loan. This is an unsubsidized loan for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.

A parent of a dependent student must complete a Federal PLUS Loan Master Promissory Note online. This note allows multiple PLUS loans for the same dependent student as long as the student is enrolled at Alexandria Technical & Community College.

Process Your Parent Should Follow To Get A Federal Direct PLUS Loan

Once this process is complete, borrowers will receive a revised award notification from the college indicating your loan has been certified and a "Disclosure Statement" from Direct Loan Servicing Center listing the disbursements to be made to you. Students should log in to eServices to see the status of their financial aid award package

Alternative Loans are really consumer loans for education in a very similar way that automobile loans are consumer loans for buying an automobile. Alternative loans are intended to be used only after all eligibility for Federal Direct and PLUS loans has been exhausted. Multiple loans require multiple payments, and excessive borrowing can lead to default. ATCC encourages you to determine your borrowing needs by preparing a budget. ATCC does not endorse any one particular lender. If you must make an alternative loan, we do provide the service of FASTChoice to assist with comparisons of lender loan options such as interest rates, fees, repayment terms and application instructions. You will be provided a historical list of lenders from which ATCC students have borrowed in the past three years.

If you choose a loan that requires the college to certify, the loan will be disbursed according to the policies established by the college for disbursement of Federal Direct loans. You will not have access to the funds until the second week of each semester of enrollment. Your alternative loan, plus all other forms of financial aid will be limited to the cost of attendance as used for Direct loans.

If you determine you need to apply for Alternative or Private Loan, please visit FASTChoice.

National Student Loan Cohort Default Rate (CDR) is available from Federal Student Aid.

To find Alexandria Technical & Community College’s student loan cohort default rate:

  • Click on “GO” by “Search the Cohort Default Rate Database” at the link above.
  • Enter “005544” for OPE-ID and “Search”
  • Click on the hyperlink for “Alexandria Technical & Community College” and view Alexandria Technical & Community College’s CDR for the last 3 years

ATCC Cohort Default Rates (PDF)

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Grants

Grants do not have to be repaid unless you do not complete the term for which the grant was intended. If you withdraw totally from the college before completing a term, you may be required to repay grant money.

Federal Pell Grant is determined by a payment schedule published by the U. S. Department of Education. Annual Pell Grants will range from $650 to $6,495.

Minnesota State Grant is awarded to Minnesota residents only. The annual amount is determined by a formula and ranges from $100 to approximately $6,259. The annual award is based on average tuition and fees and goes up or down by credit level.

Federal Supplemental Educational Opportunity Grant (SEOG) is given to students with very high need. A limited amount of money is available and is given to students on a first-completed-file first- awarded basis until funds are gone.

Post-Secondary Child Care is a Minnesota grant available to students with children who are paying for child care. Eligibility criteria apply. Download Child Care Grant Application (PDF)

Minnesota Indian Scholarship is available to residents who are 1/4 or more Indian ancestry and demonstrate need by completing the FAFSA. Launch Minnesota Indian Scholarship Application (PDF)

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Important Dates: 2021-2022 Academic Year

  • Fall Semester Scholarship Applications open January 1 to April
  • August 1-30: Book charging available for fall semester
  • August 23: Fall semester begins
  • August 27: Course add deadline/drop deadline for 100% tuition refund
  • August 27: Fall registration cancellation for non-payment
  • September 1: Fall financial aid applied to student account
  • September 2: Excess financial aid funds deposited
  • September 3: Fall 75% tuition refund date for total withdrawal
  • September 6: Labor Day (no school)
  • September 13: Fall 50% tuition refund date for total withdrawal
  • September 20: Fall 25% tuition refund date for total withdrawal
  • September 27: Fall bills are due in full or $50 late fee will be applied to student account
  • December 20: Fall semester ends
  • Spring Semester Scholarship Applications open Mid-September to November 1
  • December 1-January 18: Book charging available for spring semester
  • December 16: Spring registration cancellation for non-payment
  • January 10: Spring semester begins
  • January 14: Course add deadline/drop deadline for 100% refund
  • January 20: Spring financial aid applied to student account
  • January 21: Excess financial aid funds deposited
  • January 24: Spring 75% tuition refund date for total withdrawal
  • January 31: Spring 50% tuition refund date for total withdrawal
  • February 7: Spring 25% tuition refund date for total withdrawal
  • February 14: Spring bills are due in full or $50 late fee will be applied to student account
  • May 11: Spring semester ends
  • May 11: Graduation
  • April 1-May 23: Book charging available for summer semester
  • April 25: Summer registration cancellation for non-payment
  • May 16: Summer semester begins
  • May 20: Course add deadline/drop deadline for 100% refund
  • May 25: Summer financial aid applied to student account
  • May 26: Excess financial aid funds deposited
  • May 27: Summer 50% tuition refund date for total withdrawal
  • July 8: Summer bills are due in full or $50 late fee will be applied to student account
  • August 12: Summer semester ends

How to Check Your Financial Aid Status

Track the status of your financial aid file in eServices:

  • Log in with your Star ID and password, and then click on “Financial Aid” at the left. Be sure you are accessing the correct semester or academic year.
  • You should be able to see “Completed Steps”, “Next Step” and “Remaining Steps” (if any). Be sure to review anything listed under “Next Step.”
  • A “View your Aid Application Status” link will provide direction regarding additional documentation/information needed for your file.

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Additional Resources

  • Federal Student Aid: Complete information on receiving federal financial aid for college. Federal Student Aid is the largest provider of financial aid for college in the United States. Understand aid, apply for aid, and manage your student loans all in one convenient location.
  • NSLDS-National Student Loan Data Systems: Information regarding your student loan history. This site uses the Department of Education’s FSA ID to verify your identity.
  • Federal Loan Consolidation: Help managing your student loan debt. Consolidation allows you to combine multiple student loans together, having one loan payment with one loan holder.
  • Defaulted Student Loan: Guide to defaulted student loans sponsored by the U.S. Department of Education
  • Minnesota Higher Education Services Office: A great resource that includes a list of college costs in Minnesota, up-to-date information about higher education in Minnesota, and an interactive financial aid estimator.
  • Minnesota CareerForce (formerly Minnesota WorkForce Centers): Includes information about Job Training Partnership Act (JTPA), Division of Rehabilitation Services (DRS), and Concentrated Employment Program (CEP)

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Contact Financial Aid

888-234-1222 ext.4540
320-762-4540

Mail:
Alexandria Technical & Community College
Financial Aid
1601 Jefferson Street
Alexandria, MN 56308

Email: Financial Aid financialaid@alextech.edu

Room: 113 (main building)

Hours:
Mon-Fri 7:30AM - 4PM

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