How do you apply for Financial Aid? (FAFSA)
To apply for financial aid, you must complete the Free Application for Federal Student Aid. The FAFSA is used to apply for Minnesota State Grants, federal Pell Grants, Direct Loans and other financial aid available at specific schools.
The form requires you to submit information about your family’s income, assets and your status as a resident.
The Enrollment Advisors can help you complete the FAFSA and answer questions.
Financial Aid Office: (507) 433-0600 or 1-800-247-5039
FAFSA School Code: 002335
Learn about 2017-2018 FAFSA Changes
Applying for financial aid does not cost anything. By applying, you do not commit yourself to attend any school.
Please review the Riverland Financial Aid process for 2016-2017
- Fill out the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov . You will need the following for you and your parents (if you are a dependent student):
- social security numbers,
- 2015 Federal Income tax return,
- current bank and brokerage statements,
- FSA IDs. If you do not have a FSA ID, you will have the option of signing up for one when you have finished entering your information or you can sign up for one by clicking here . If you are a dependent student, your parent will also need a FSA ID. The FSA ID allows you to sign the FAFSA electronically rather than submitting a paper signature page.
- Be sure to use the IRS Data Retrieval Tool (DRT) while filling out the FAFSA, if the option is available to you. This ensures the information from your tax return is accurately entered into your application. This option will not be available to you if you indicated that you filed an amended, Puerto Rican, or foreign tax return, if you filed in the last 3 weeks, or if your marital status is married and your tax filing status is "Married Filing Separately" or "Head of Household".
- You will receive a Student Aid Report (SAR) when your FAFSA has been processed. If you entered an email address, you will receive an email notifying you when your FAFSA has been processed. If you did not enter an email address, you will receive a paper SAR in the mail within 4 weeks. Review this information to make sure that it is correct. If you find an error, log back into your FAFSA and submit corrections.
- You will receive a letter from BankMobile in the mail that explains how to set up your account. This is how all financial aid and tuition refunds are disbursed, so it is very important to set up this account right away to avoid disbursement delays. If you do not receive one or you accidentally threw it away, please contact our Business Office at 1-800-247-5039 to request a replacement card. The letters are mailed to the address that we have on file so it is very important to keep your information up to date.
- Once your FAFSA application is processed, the information will be sent to all the colleges you listed on the FAFSA.
- Log in to your e-Services account using your StarID and password. Click on “Financial Aid” on the right side, then “Aid Application Status”. Here you will be able to see if you are required to submit additional information to the Financial Aid office. You may be chosen for a process called "Verification". There are a number of students randomly selected for verification each academic year. This means Riverland is required to document the information submitted on your FAFSA was correct. If you are chosen for verification, we will not be able to continue processing your FAFSA until we receive all the information required. NOTE: We are unable to accept copies of tax returns. If you are chosen for verification, you will be required to use the IRS Data Retrieval Tool (DRT) in your FAFSA or request a Tax Return Transcript from the IRS. If your status says “Ready for Payment”, you will be able to see your award letter.
- Click on “Financial Aid ” to see your financial aid package. Be sure to read the letter carefully because it contains important information regarding financial aid. The “Award Letter” will state your eligibility for Federal Pell grants, SEOG grants (if eligible and funding is available), MN State grant, and Federal Direct Subsidized and Unsubsidized loans. The grants are free money that does not need to be repaid and will automatically be applied to your tuition and fees after the 5th day of the semester. Loans and Work Study funds require additional paperwork if you choose to accept these awards. If you have applied for other grants and/or scholarships, they may not appear initially on your award letter. Examples of these types of aid would be the Postsecondary Child Care grant, MN GI Bill, MN Indian Scholarship, Veterans funding, and Riverland Foundation Scholarships. Work Study funds are awarded on a first come, first served basis. If Riverland runs out of funds, we will start a waiting list. Please speak to an Enrollment Advisor if you are interested in being added to this list. If you are awarded Work Study, you can find the list of available positions on our website . Once you have been hired for a position, there is additional paperwork that will need to be filled out with your supervisor.
- If you choose to take out student loans, you will have another process to complete in order to receive those loans. Click on “Loans” to start the process. There are four tabs: Loan Period, Pre-Requirements, Loan Application and Loan Status.
- Loan Period- choose the correct academic year for which you applying
- Pre-Requirements- click on the link to www.Studentloans.gov to complete Entrance Counseling and a Master Promissory Note (MPN)
- Loan Application- choose the amount that you want to borrow and if you want that amount for either Fall or Spring or you can choose both semesters. Keep in mind; if you choose both semesters, the funds will be split between the two semesters.
- Loan Status- check to see if your loans are still being processed or if they are certified.
- Once the loan process is complete, you will see the red lights on each tab have turned green. The loans will also say “Certified” rather than “Estimated” or “Accepted” under the “Awards” section of e-Services. Your loans will not be available to use for tuition, books, fees or other charges until all these steps are complete.
- Compare your award package to the charges on your account. If the amount of your awards exceeds the amount of your charges, you will be able to charge your books against your financial aid. Charging books against your financial aid is only available for a limited time, so it is important to have your financial aid complete before the semester starts. You can find the dates that you are able to charge books here, http://bookstore.riverland.edu/AUSTIN/Home.aspx . Reminder: You cannot include your loans in your total award until you have completed the loan process. Also, work study is not calculated in the award amount when calculating eligibility for book charging.
- After the 10th day of the semester, any credits that you are registered for are considered for your enrollment level for financial aid purposes. Financial aid awards will be posted to your account and then disbursed through your Higher One account on the 11th day of the semester.