FINANCIAL INFORMATION

Scholarships

The RCTC Foundation offers scholarships to incoming, returning, and graduating RCTC students. All scholarships offered by the RCTC Foundation are made possible from the support of generous donors. New and returning students can apply for scholarships during three scholarship application sessions:

•Mar-Jun Our main scholarship application session offering more than $400,000 in scholarships to be awarded for the next academic year.

•Oct-Nov A smaller application session offering scholarships for spring semester.

•Jan-Feb A smaller application session for students who are graduating and transferring.

Scholarship session dates may vary annually, please refer to the Foundation Scholarship webpage for updated information. For more information about scholarships offered by the RCTC Foundation please call the Foundation Office at 507-281-7771 or email foundation@ rctc.edu

Grants

“Grants” consist of financial aid funding that is generally NOT repaid. A repayment of Grant funds may be needed if the student withdraws, stops attending or otherwise fails to complete their courses. Eligibility for grants is mostly based on income. Several programs are available to RCTC students who qualify. Students must first complete the Free Application for Federal Student Aid (FAFSA) through the U.S. Department of Education to apply. For more information on grant programs available at RCTC, visit the Financial Aid webpage.

Loans

Student Loans must be repaid, along with all fees and accumulated interest. Student loans typically are not repaid until after the student has graduated, withdrawn from College or dropped to less than half-time status. RCTC has several loan programs available for students and their families. To qualify for a student loan(s), the student must be currently enrolled in 6 or more credits and have a FAFSA on file. Our Loan Comparison Chart helps to explain the difference in each loan type. For more information on loans, visit the Financial Aid webpage

Students MUST attend class regularly and maintain satisfactory progress to remain eligible for scholarships, grants, and loans.