Information and Policies
Types of Financial Aid
If you seek financial aid, you must apply each academic year. Types of available aid inlcude: Federal Title IV Programs, Minnesota State Programs, Scholarships, and Student Loans.
Federal Title IV Programs
Minnesota State Programs
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 Methadology (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 College. PTC, using several methods, determines how much it costs to attend PTC 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.
Refunds and 'Return of Title IV Funds' Policy
Tuition/Fees Refund Policy
Pine Technical College's tuition refund policy is set by the Minnesota State Colleges and Universities Board of Trustees. The enrollment period begins on the first scheduled day of the semester or course. Drop or withdrawal dates are determined by the date the form is received in the Student Affairs Office. See the official Academic Calendar for specific dates for each term.
Dropping Courses (Reduction of Credits)
Dropping a course or courses (Reduction of Credits) is when a student reduces the number of courses/credits taken but remains enrolled. This period for dropping/adding a class expires after the fifth day of the semester. (For a drop dates for Summer semester and terms less than 10 weeks, check with the Student Affairs Office). A 100% refund of tuition and fees will be provided to students who reduce their number of credits during the drop/add period. A student may withdraw from a course after the drop/add period, prior to the 60% of the term withdrawal date; however, the student has encumbered all the costs and there are no refunds. There are no automatic refunds for books, tools, or equipment.
Total withdrawal refers to terminating all courses and enrollment in the college. As noted above, a 100% refund is given during the drop/add period.
Refunds for Total Withdrawal
A refund of tuition and mandatory fees shall be provded to a student who totally withdraws from all classes according to the following schedule:
Fall and Spring Semesters
--1st through 5th business day, 100% refund
--6th through 10th business day, 75% refund
--11th through 15th business day, 50% refund
--16th through 20th business day, 25% refund
--After 20th business day, no refund
--1st through 5th business day, 100% refund
--6th through 10th business day, 50% refund
--After 10th business, no refund
Return of Title IV and State Funds
If a student withdraws after a term has begun, the student may be required to return some of the federal aid funds awarded to the student. This 'Return of Title IV (meaning federal) Funds' policy is required by federal regulations.
The federal formula requires a return of Title IV aid if the student received federal financial aid assistance in the form of a PELL Grant, Supplemental Education Opportunity Grant, Stafford Loan, or PLUS loan and withdrew on or before completing 60% of the term. The student may owe money to Pine Technical College and to the financial aid programs in which they participate and will be required to repay.
If the student who totally withdrew (officially or unofficially) from classes received State financial aid funding (including State Grant, Child Care Grant, SELF Loan, Safety Officer's Survivor's Grant, Indian Scholarship, ACHIEVE Scholarship, and Learn and Earn), a portion of the unearned funds must be returned if the total withdrawal took place within the first 20 business days of the semester (full semester classes). See 'Refunds for Total Withdrawal' section for more information on summer classes.