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Types of Financial Aid

There are a number of different types of financial aid available, scroll down or click the types below to read more information.

Available Grants

  • Federal Pell Grant: The Federal Pell Grant is the foundation of federal student aid, awarded to undergraduate students with the lowest Expected Family Contribution (EFC). The award amount changes annually and varies with level of enrollment. Federal Pell Grant recipients should finalize their registration for the entire term during the first five class day free drop add period to maximize their funding level.  Withdrawing from one or more course early in a term may cause a Pell Grant award to reduce to the adjusted level of enrollment.
    You can learn more here.
  • Minnesota State Grant: The Minnesota State Grant is awarded to undergraduate Minnesota residents with low EFC. Eligibility is limited to 4.5 years of full-time enrollment in any post-secondary institution. Awards change on a per credit basis for enrollment between 3 and 15 credits.  Eligible students could receive Minnesota State Grant for 3 consecutive semesters (fall, spring, and summer).
  • Federal Supplemental Education Opportunity Grant (SEOG): Available to learners with great financial need. Funds are limited. Apply early for priority.
  • Post Secondary Child Care Grant: If you're a Minnesota resident who does not receive MFIP benefits while attending college, you may be eligible for funds to offset your childcare costs. Get an application for this program at the Financial Aid Office, or a print-only form is available online.
  • Tribal Grants: If you are a member of one or more tribes, please check with the appropriate tribal office to apply.

Work-Study and Agency Funding

Part-time employment is available to learners who have financial need and a desire to work.  Check your eligibility in the financial aid office.

Agency Funding:
Many organizations fund learners who attend Northwest Technical College. Most of this funding is not controlled by the individual college. We communicate and coordinate with these agencies, including: Veteran's Educational Benefits, Vocational Rehabilitation Services, Bureau of Indian Affairs, JTPA, Workman's Compensation, Indian Scholarship Assistance Program, Rural Minnesota CEP, etc. You may contact the appropriate agency directly.


Loans, unlike grants and scholarships, are a type of financial assistance that must be repaid with interest, so please research your options carefully and borrow conservatively. Federal loans typically offer lower interest rates and better benefits than alternative loans.  You are strongly encouraged to maximize your federal loan eligibility prior to considering any other loan options.

Federal Direct Subsidized Loans:

Eligibility is based on financial need. A first-year student may borrow up to $3500 depending upon eligibility. The maximum loan amount for a student with at least 30 credits towards a two-year program is $4500. The Federal Government pays the interest while the student is eligible for the subsidy. Loan repayment begins six months after leaving school or dropping below half-time enrollment. The interest rate is fixed at 4.29% and starts accruing when the student drops below 6 credits, graduates, or losses eligibility for the subsidy. Loans are disbursed by term. Students must be enrolled for 6 credits or more per semester to receive this loan.

Federal Direct Unsubsidized Loan:

A non-need based loan with a fixed interest rate of 4.29%. The borrower can accrue and capitalize the interest, which will increase the amount borrowed. Repayment of interest begins during school enrollment unless deferred. Students must be enrolled for 6 credits or more per semester to receive this loan.

First time Direct Loan borrowers are required to complete loan entrance counseling at entrance counseling for a Stafford loan, then select Northwest Technical College as your institution of choice. First time borrowers will also need to complete the electronic Master Promissory Note at To complete the electronic Master Promissory Note, you will need your Federal PIN number, your driver's license number, and the names and addresses of two personal references from two different households. Please be sure to read the instructions and information carefully.

Federal Direct Plus Loan (PLUS):

Parents of a dependent student may borrow up to the cost of education minus any financial aid received by the student. The interest rate is fixed at 6.84%, parents can defer payments by completing a deferment request form at if the student is enrolled half time. A parent credit check is required prior to approval. If the parent is not approved, the student will be eligible for an additional unsubsidized direct loan. Student must be enrolled for 6 credits or more per semester to receive this loan. A parent can complete the required PLUS Electronic Master Promissory Note and online Direct PLUS application at

Alternative Loans

A private alternative loan should only be considered after you have exhausted all other financing options and additional educational resources are still required.  The following is a list of alternative loan lenders that our students have borrowed from in the past three years, and to our knowledge, these are the only lenders that continue to borrow to our students.  The list is in order of dollars lent to NTC students in the past year from highest to lowest.  Northwest Technical College does not endorse any lender, nor does NTC or its employees receive any benefits or remuneration from any lenders.  You are free to search and borrow from a private alternative lender not appearing on this list.

FASTChoice is a tool that can be used to compare the available loans and lenders side by side to help you choose the loan that best fits your needs.  The information available on this site is updated by the individual lenders.  To utilize FASTChoice select the FASTChoice link below.

  • Wells Fargo CC Loan: 800-658-3567
Apply online at
  • Sallie Mae Smart Option Loan: 800-658-3567

Apply online at

  • North Dakota DEAL Loan: 800-472-2166

Apply online at

  • Student Educational Loan Fund (SELF): 800-657-3866


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