2023–2024 CATALOG AND STUDENT HANDBOOK ACADEMIC INFORMATION AND UNIVERSITY POLICIES 149 Financial Aid Disbursement A student must be officially accepted to Rasmussen University in an eligible degree, diploma or certificate program as one of the eligibility requirements to receive and have financial aid disbursed to their student account. Rasmussen University begins disbursing financial aid no earlier than three weeks into the term. Funds are first applied to your tuition and fee charges. Any remaining funds (excess funds) are disbursed to you, the student. All financial aid excess funds and other school refunds are delivered to students through a partnership between Rasmussen University and BankMobile. Your student account will show an unpaid balance until this disbursement occurs. If the aid you are eligible to receive does not cover your charges, a Student Payment Plan is created and can be viewed on the Student Account Center. Institutional Scholarship and Grant Programs Rasmussen University offers the following institutional scholarship and grant programs. All scholarships are non-cash awards. Some campuses have additional scholarships available, contact your campus for details. Additional information on grants is available at www.rasmussen.edu/tuition. Rasmussen University reserves the right to add, discontinue or amend scholarship and grant programs at its discretion. Any student currently receiving scholarship or grant funds at the time of the amendment will be notified. Students with a start or re-enter date of February 8, 2023 or later are eligible for only one of the following scholarship and grant programs at a time: • Change a Life Scholarship • Affiliation Grant • Alumni Grant • Articulation Grant • Corporate Alliance Grant * • LPN Care Grant • Medical Assisting Inspire Grant • Military Grant • Professional Achievement Grant • RN to BSN Get Started Grant * • Start Strong Tuition Savings * • Take Charge Grant ** • Early Honors Program * May not be combined with other grants or scholarships offered by Rasmussen University, with the exception of the Corporate Alliance Grant, RN to BSN Get Started Grant or Start Strong Tuition Savings. **May be combined with other grants and scholarships offered by Rasmussen University, with the exception of the RN to BSN Get Started Grant. Rasmussen University and its agents assume no responsibility for damages, losses, or injury resulting from acceptance or use of the scholarship award. Taxes and fees, if any, are the sole responsibility of the recipient. The following grants are being administered to eligible, continuing students but are no longer available to new student enrollments: Alumni Achievement Grant, Future Nurses of FL, Future Nurses of WI, Medical Assisting Wellness Grant, Nursing Assistant Grant, Next Step Grant and Spring Forward Grant. ALL CONTENT IS SUBJECT TO CHANGE BY ADDENDUM Program Type of Award & Eligibility Amount Per Year Application Gift Aid* Federal Pell Grant Grant; based on financial need. Eligibility & Terms/Conditions: https://studentaid.gov/understand-aid/types/grants/pell $767-$7,395 Free Application for Federal Student Aid (FAFSA) Federal Supplemental Educational Opportunity Grant (SEOG) Grant; based on financial need, awarded by the University. Eligibility & Terms/ Conditions: https://studentaid.gov/understand-aid/types/grants/fseog $100-$4,000 based on availability Free Application for Federal Student Aid (FAFSA) Florida Student Assistant Grant** Grant; based on financial need, FL residency, undergraduate, full-time. Eligibility & Terms/Conditions: https://www.floridastudentfinancialaidsg.org/PDF/factsheets/FSAG.pdf Varies, based on availability Free Application for Federal Student Aid (FAFSA) North Dakota State Grant** Grant; based on financial need, ND residency, undergraduate. Up to $3,668 Free Application for Federal Student Aid (FAFSA) Minnesota State Grant** Grant; based on financial need, MN residency, undergraduate, full-time. Eligibility & Terms/Conditions: www.ohe.state.mn.us Varies, based on State Grant award formula Free Application for Federal Student Aid (FAFSA) Employment* Federal Work-Study Part-time job; on or off-campus; based on financial need and skill level of position, awarded by the University. Eligibility & Terms/Conditions: https://studentaid.gov/understand-aid/types/work-study Varies, based on availability Free Application for Federal Student Aid (FAFSA) State Work-Study Grant; based on financial need, MN residency, undergraduate, full-time. Eligibility & Terms/Conditions: www.ohe.state.mn.us Varies, based on availability Free Application for Federal Student Aid (FAFSA) Loan Programs Federal Direct Subsidized Loan Loan; based on financial need, undergraduate, payments deferred until six months after student is no longer enrolled or enrolled less than half-time. Eligibility & Terms/Conditions: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized 1st Yr - $3,500 2nd Yr - $4,500 3rd Yr & above - $5,500 Graduate – Not Eligible FAFSA, Master Promissory Note and Loan Entrance Counseling; Student Loan Acknowledgement suggested. Federal Direct Unsubsidized Loan Loan; principal and interest payments may be deferred until six months after student is no longer enrolled or enrolled less than half-time. Eligibility & Terms/Conditions: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized Same as subsidized limits, plus: Dependent Student: 1st Yr & above - $2,000 Independent Student: 1st & 2nd Yr - $6,000 3rd Yr & above - $7,000 Graduate - $20,500 FAFSA, Master Promissory Note and Loan Entrance Counseling; Student Loan Acknowledgement suggested. Federal Direct PLUS Loan Loan; for credit-worthy parents of dependent undergraduates and graduate students. Eligibility & Terms/Conditions: https://studentaid.gov/plus-app/ Up to student’s cost of attendance Student: FAFSA, Master Promissory Note and Loan Entrance Counseling; Student Loan Acknowledgement suggested. Parent: PLUS loan application and Promissory Note Veterans’ Benefits Veterans’ Benefits Benefits for veterans and dependents of veterans, including National Guard and Reserves. Monthly benefit based on service contributions Veterans Administration or Veterans Service Officer Primary Sources of Financial Aid * May not be combined with other grants or scholarships offered by Rasmussen University, with the exception of the Corporate Alliance Grant, RN to BSN Get Started Grant or Start Strong Tuition Savings. ** These state programs are available only for residents of the identified state, based on the state’s residency rules.
