Financial Aid - Grants
Federal Pell Grant (Pell)
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are need based and awarded only to undergraduate students who have not earned a bachelor's or professional degree. (A professional degree is usually earned after earning a bachelor's degree in a field such as medicine, law, or dentistry).
Federal Supplemental Opportunity Grant (FSEOG)
Federal Supplemental Educational Opportunity Grants (FSEOG) are gift aid for undergraduates with exceptional financial need. Pell Grant recipients with the lowest EFCs will be the first to get FSEOGs, which don't have to be paid back. These grants are awarded only to undergraduate students who have not earned a bachelor's or a professional degree.
For more information about Federal Grants, visit the U.S. Department of Education's Student Financial Assistance Web site at .
Minnesota State Grant (MNSG)
The Minnesota State Grant Program provides undergraduate students with assistance in meeting the cost of attendance at eligible Minnesota public and private post-secondary institutions of their choice. Each academic year, MHESO determines which schools will be eligible according to criteria in the program rules. Program funds are allocated to MHESO by the state legislature. A small percentage of program funding is appropriated by the federal government under the Leveraging Educational Assistance Partnership (LEAP) program.
To receive a State Grant, the student must attend an eligible Minnesota post-secondary institution for at least 3 credits per term, demonstrate financial need (as defined in Minnesota Statutes 136A.121, Subd. 5), and meet several other eligibility requirements outlined in the 'Eligibility Requirements' section of this manual. A student may receive a State Grant for any year of undergraduate study unless the student fails to meet the program eligibility requirements.
Minnesota Residents: FAFSA's must be received by the Federal Central Processing System within 30 calendar days of the semester start date in order to be eligible for a possible Minnesota State Grant.
The amount of the student's State Grant is determined as follows:
State Grant Budget
(tuition and fees plus living and miscellaneous expense allowance) |
-(minus)
|
Student Share of at least 46% of the State Grant Budget
|
-(minus)
|
Parent Contribution or Student Contribution
|
-(minus)
|
Pell Grant Award
|
=(equals)
|
State Grant (minimum award of $100)
|
(See also Appendix 8 - Shared Responsibility Formula)
(MHESO, 7, 2001, p. 2)
For more information on Minnesota State Grant Programs, check out the Minnesota Higher Education Services Office Web site at
Minnesota Post-Secondary Child Care Grant
The Minnesota P-SCC Grant is designed to provide financial assistance to students with financial need pursuing a post-secondary education, who require child care assistance for their dependent children and do not receive funds from the Minnesota Family Investment Program (MFIP). (MHESO, 7-01, p. 1). The application is now available online. Download the pdf for directions on creating an account though MN Aid.