Dickinson State University provides five types of financial aid: grants, loans, foundation scholarships, awards, and student employment

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TYPES OF FINANCIAL ASSISTANCE
Dickinson State University provides five types of financial aid: grants, loans, foundation scholarships, awards, and student employment.

Grants are gifts of money that do not have to be repaid. Loans MUST be repaid. Scholarships are gifts recognizing students on the basis of academic achievement, special skills, or other criteria. Employment allows a student to work and earn money to offset educational expenses.

Federal Pell Grant is available to undergraduate students pursuing their first bachelor's degree. The amount of the grant is based on the EFC number, the student's need, the estimated cost of attendance, the student's enrollment status, and the money appropriated by the Federal Government.

Federal Supplemental Educational Opportunity Grant (FSEOG) is available to undergraduate students who are eligible for a Federal Pell Grant. FSEOG is a campus-based program; therefore, students must meet the priority funding deadline of March 15.

North Dakota State Student Incentive Grant Program (SSIG or State Grant) provides aid to undergraduate students who are US citizens, residents of North Dakota engaged in full-time study, and enrolled in a program of at least one academic year. The grants, which are need-based, are dependent upon the availability of funds. The State Grant is $800 per academic year. Students apply by completing the FAFSA. The deadline for priority consideration is March 15. Additional information may be obtained from North Dakota University System, State Capitol, 600 East Boulevard, Bismarck, ND 58505-0230.

Federal Family Educational Loan Programs include the Federal Stafford Loan, Federal Unsubsidized Stafford Loan, and the Federal PLUS. To obtain the first Stafford Loan, the student must complete a Master Promissory Note. The Master Promissory Note will be sent to the student either electronically (by e-mail) or through the mail. The promissory note must be completed and returned to the lender before funds will be released. The student may not need to complete a new Master Promissory Note the following year. (Unless the student went through loan consolidation.) To calculate your estimated payment, students may go to the following website: http://www.finaid.org/calculators/loanpayments.phtml

Federal Stafford Loan must be repaid within 10 years. Loans disbursed prior to 07/01/06 had a variable rate of interest. Loans disbursed on or after 07/01/06 have a fixed rate of interest. If eligible, students may borrow up to $3,500 per year as a freshman, $4,500 as a sophomore, and $5,500 as a junior or senior. The maximum amount that can be borrowed is $23,000. Students must be enrolled at least half time. Local financial institutions provide funds for the Federal Stafford Loan Program, and there is an origination/insurance fee of zero to three percent. Repayment begins six months after graduation or if the student ceases to be enrolled at least half-time.

The link: https://www.eac-easci.org/aesi/show_fees.cfm?s_id=00298900 displays a comparison of the lenders Dickinson State University has listed on the award notice. Please keep in mind that a student always reserves the right to choose a lender (including those not listed) for his/her Federal Stafford Loan.

Federal Unsubsidized Stafford Loan is a non-need based program for those ineligible for (any or all of) the Federal Stafford Loan. The student is responsible for interest payments. The annual and aggregate loan limits for dependent undergraduate students equal the Federal Stafford Loan limits (less the amount of any Federal Stafford loans). The annual and aggregate loan limits for independent undergraduate students (or students whose parents are unable to obtain Federal Parent Loans for Undergraduate Students) are increased by $4,000 a year for the first and second years of study, and by $5,000 for the third and fourth years of study. Repayment begins six months after graduation or if the student ceases to be enrolled at least half-time.

Federal Perkins Loan is a 5% interest loan with a $4,000 per year limit (maximum $20,000). Federal Perkins is a campus-based loan; therefore, priority is given to students who have their FAFSA's received by the Central Processor by March 15. Repayment begins nine months after borrower ceases to be enrolled at least half-time. If eligible for this loan at DSU, the minimum amount is $400.

Federal PLUS Loans (Parent Loans for Under-graduate Students) enable parents to borrow money to help pay for their children's education. Parents may borrow on behalf of a dependent student. The maximum loan amount that a parent may borrow for each dependent student is the difference between the cost of attendance and any other financial assistance. The loan requires a separate application. If the period of enrollment is more than one semester, there will be multiple disbursements. Generally repayment must be made within 60 days of the loan disbursement.

Nursing Education Loan is need-based, and the applicant must be accepted or enrolled in a nursing program approved by the North Dakota Board of Nursing. The loan amounts are up to $1,000 for each year of the nursing ASPN and baccalaureate completion programs. Repayment is by nursing employment in North Dakota after graduation and/or by monetary repayments. Applications are available through North Dakota Board of Nursing: 919 South 7th Street, Suite 504, Bismarck, ND 58504-5881; deadline is July 1.

Short-term Emergency Loans, up to $600, may be obtained under certain circumstances for educational related expenses. They will only be granted to those awaiting financial aid. The aid must be sufficient to repay the loan. There is a $10 service charge. A second emergency loan will not be granted to a student who has an unpaid short-term emergency loan. Contact the Office of Financial Aid to obtain an application.

Promissory Note: Loan information is transmitted to the guarantee agency which guarantees the loan and mails or emails a Master Promissory Note to the student. This promissory note must be completed and returned to the lender before loan funds will be disbursed. Once a Master Promissory Note (MPN) has been signed, students will not have to sign another one while at DSU, unless the lender requests a new signature, the student consolidates their loans or the student changes lenders.

Forbearance, Deferment and Cancellation of Loan nformation can be found on the Master Promissory Note or by contacting the lender.

Electronic Fund Transfer: Loan funds that are received electronically are credited directly to the student’s account. Loan funds that arrive in the form of a check must be endorsed by the student and then will be credited to the student’s account. Any funds in excess of the amount owed the University at the time of disbursement are considered “excess aid” and may be disbursed to the student in the form of a check or direct deposit transaction. Disbursement could be delayed if students have not attended Entrance Loan Counseling, are not enrolled at least half-time, or have a “hold” on their file.

Dickinson State University Foundation Scholarships/Awards are supported by gifts from friends and alumni of the University. Students complete a scholarship application available from a high school counselor or the University. The priority deadline to apply is December 1.

Dickinson State University Foundation scholarships and awards will be disbursed in two equal allotments for the fall and spring semesters. Contact the Office of Development and Alumni Relations for current listings and disbursement.

Cultural Diversity Tuition Awards are for students who have US citizenship or permanent residency and who can contribute to the cultural diversity of the University. Applications can be obtained on campus from the Office of Enrollment Services or may be downloaded here (pdf).

Global Awareness Tuition Awards are designed to assist international students in obtaining a degree at Dickinson State. Students from a foreign country are encouraged to apply for the Global Awareness Tuition Award by contacting the Office of Enrollment Services, or fill out an online application.

Veterans, National Guard, and Veteran Tuition Waiver recipients need to contact the nearest Veterans Service Office or the Dickinson State University Veteran's Certifying Official in the Office of Academic Records.

Any dependent (child, spouse, widow, widower) of a resident veteran killed in action, totally disabled, deceased from service-connected causes, or declared missing in action, may be granted a waiver of tuition.

Native American Assistance application forms are available from a Tribal Agency or from the Office of Financial Aid at Dickinson State University.

Rehabilitation and Consulting Services assists students with physical limitations or health problems. Students who wish to apply must contact their local Division of Vocational Rehabilitation Office at Bismarck, Dickinson, Jamestown, Fargo, Minot, Grand Forks, Devils Lake or Williston.

North Dakota Job Service may have funds available through the Workforce Investment Act (WIA) for economically disadvantaged students in need of vocational training or retraining. Contact the nearest Job Service Office.

Student Employment provides eligible students an opportunity to earn money to help pay their educational costs. Students are paid an hourly wage. Time sheets are signed by student and supervisor and are submitted twice a month. Paychecks are claimed the 15th and the last day of the month at the Office of Business Affairs.

Student employment on campus can either be in positions funded through Federal Work Study dollars or in positions funded through institutional dollars. If a student is eligible for a Federal Work Study position, that assistance in included in the Award Letter they receive. Eligible students will receive a Student Employment Form. Federal Work Study is a campus-based program, and priority in awarding these positions is given to students whose FAFSA is received by the Central Processor by March 15. Community service jobs such as reading tutors are available for students. Any non-federal work/study student may apply for an institutionally-funded position; information about institutionally-funded positions is are available through the Office of Career Services.