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. The online application portal is open once a year (normally December to February) allowing both new and returning students the opportunity to apply for available scholarships for the upcoming academic year. For more information about scholarships offered by the RCTC Foundation please call the Foundation Office at 507-281-7771 or visit the Foundation Scholarship 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 Student loans typically are not repaid until after the student has graduated, withdrawn from College or dropped to less than half-time status.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.
Grants A “grant” is financial aid funding you generally do NOT need to repay. Grants are only repaid if you withdraw, stop attending or otherwise fail to complete your courses. Eligibility for most grant programs are based on income. Several grant 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 grants available at RCTC, visit the Financial Aid webpage.
Students MUST attend class regularly and maintain satisfactory progress to remain eligible for scholarships, grants, and loans.
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