The Academy recognizes that many students will need financial assistance. All students who plan to attend will have the opportunity to schedule a personal interview with the Financial Aid Office to discuss and complete financial assistance applications. The following programs are available to students:

Grants

1. Minnesota State Grant Program is available to Minnesota residents; the dollar amount changes annually.


2. Pell Grant Program (Federal) is currently available to half-time and full-time undergraduate students; the maximum dollar amount changes annually.


3. The Academic Competitiveness Grant (ACG) is available to full-time, first-time students who have completed a rigorous high school program of study and are in their first or second academic year of school; the dollar amount changes annually. Students must have a 3.0 GPA at the end of their first year to receive a the ACG grant for their second year.


4. The National Science and Mathematics Access to Retain Talent (SMART) Grant is available to students who are completing a Bachelor Degree in Computer Science and who are in their third or fourth academic year of school; the dollar amount changes annually. Students must maintain a 3.0 GPA to receive this grant.


5. Federal Student Educational Opportunities Grant (FSEOG) is currently available to undergraduate students who exhibit extreme financial need.


6. MN Child Care Grant Program is available, by separate application, to those students with documented child care costs for dependents who are 12 years of age or younger.

These grants are available to undergraduate students on the basis of established need. Application is made using the Free Application for Federal Student Aid (FAFSA).

Other Grants

1. Indian Scholarship Grant - application is made and dollar amount determined by each tribe that participates in the program.



2. Vocational Rehabilitation - through Minnesota Department of Economic Security. Grants provided to cover costs associated with disability.

Loans (must be repaid)
If students need additional financial aid, they may be eligible to apply for any of these loans. Some loan amounts are determined on basis of established need.

1. Federal Subsidized Stafford Loan Program - Repayment begins six months after graduation or student drops below half-time.



2. Federal Unsubsidized Stafford Loan Program - Interest payments are optional while student is in school. Repayment begins six months after graduation or student drops below half-time.



3. Federal PLUS Loan - Parent Loan Program (dependent students only). Interest must be paid while student is in school. Principal and interest payments begin approximately seven months after student starts school.



4. Minnesota Student Educational Loan Fund (SELF) Program - Through the state of Minnesota, requires credit worthy co-signer. Interest must be paid while student is in school. Principal and interest repayment begins twelve months after graduation or the student drops below half-time.



5. TERI Guaranteed Undergraduate Loan - Credit and income based loan. It may be used to supplement other forms of financial assistance. Principal and interest can be deferred while student is in school. Repayment begins 45 days to six months after a student's withdrawal or graduation.



6. Wells Fargo Collegiate Loan - Credit and income based loan. It may be used to supplement other forms of financial assistance. Principal and interest can be deferred while student is in school. Repayment begins six months after a student's withdrawl or graduation.



7. Campus Door Private Alternative Loan - Credit based loan. It may be used to supplement other forms of financial assistance. Principal and interest can be deferred while student is in school. Repayment starts 12 months from graduation or six (6) months from withdrawal or drop below half time.



8. Sallie Mae Signature Student Loan - Credit based loan for Bachelor Degree students. It may be used to supplement other forms of financial assistance. Principal and interest can be deferred while student is in school. Repayment begins six months after a student's withdrawal or graduation.



9. Wells Fargo Education Connection Loan - Credit and income based loan. It may be used to supplement other forms of financial assistance or to fund a shorter program or certification. Principal and interest payments begin six months after a student's withdrawl or graduation.



10. SLM Financial Loan - Credit and income based loan. It may be used to supplement other forms of financial assistance. Interest must be paid while student is in school. Principal payments begin 30 days after a student's withdrawal or graduation.



11. Pilot Finance Loan - Credit and income based loan. It may be used to supplement other forms of financial assistance. Monthly principal and interest payments begin while student is in school. (Aviation students only)

Veterans educational assistance programs
Every program offered at Academy is approved for the GI Bill and the Veterans Rehabilitation Program. Veterans benefits depend upon the time and period of military service. Consult the local V.A. office for more information, at 1-888-442-4551 or log on to www.gibill.va.gov.

Other programs available

1. Job Training Partnership Act (JTPA)
2. Minnesota State Work Study Program
3. Department of Rehabilitation Services (DRS)
4. Federal Work Study Program
5. Part-time employment assistance
6. VA Vocational Rehabilitation
7. HIRED
8. Trade Adjustment Assistance (TAA)
9. Workforce Investment ACT (WIA)
10. Federal Tuition Assistance