Financial Aid Information

Types of Financial Aid

If you seek financial aid, you must apply each academic year. Types of available aid include: Federal Title IV Programs, Minnesota State Programs, Scholarships, and Student Loans.

Priority Deadline

The Financial Aid Office has a Priority Deadline of April 1 proceeding the academic year for which you are applying. This means if a student turns in all documents needed to complete their file by the priority deadline, they will be given first consideration for all grants, student employment and loan programs for the following school year. Files completed after the priority deadline will be reviewed on a first-come, first-served basis with funds still available. If you want to have your financial aid in place for Fall term, you need to have your file complete with us by August 1.

Calculation of Financial Aid Eligibility

Financial Aid eligibility is calculated by mathematical formulas beginning with Federal Methodology (FM). FM is the Federal formula that calculates your Expected Family Contribution (EFC) based on the information that you provide on the FAFSA, and is calculated by the Central Processing System (CPS). Your EFC is the amount you and your family are expected to pay toward your educational expenses. The next step in the eligibility calculation process is done by Pine Technical & Community College. PTCC, using several methods, determines how much it costs to attend PTCC for an academic year. This figure is called the Cost of Attendance (COA).

The COA and EFC are used to determine all your financial aid awards. We calculate aid as follows: COA-EFC=remaining need. The Federal PELL Grant award is based on the EFC. All other programs are based on remaining need. Your aid package cannot exceed your financial need, however, some forms of aid may be used to meet your EFC. The Financial Aid Estimation Form can be used to prepare an estimate of your EFC and financial need.

Financial Aid Adjustments

Your class schedule must be finalized within the Drop/Add period. If you decide to add a course after the Drop/Add period of the term, your PELL Grant cannot be adjusted for the increase in credits.

GradReady

Pine Technical & Community College has partnered with Great Lakes and North Star Education Services to provide GradReady to students. GradReady is an online tool that students can use to help them with managing their tuition, financial literacy, budgeting and loan repayment. For more information, visit GradReady.

PTCC and BankMobile

PTCC has partnered with BankMobile, a financial services company, to offer a safer, more convenient, and more environmentally-friendly method of financial aid refund disbursement to students.

Refunds and 'Return of Title IV Funds' Policy