- PIN Number
- Student Aid Report (SAR) Information
- Financial Aid Process
- Receiving Financial Aid
- Computer Issues
- Assistance Links
What is Financial Aid?
Simply, financial aid can help an individual pay for a college education. It comes in three different forms: grants or scholarships (awards you do not have to repay); loans (borrowed funds that must be repaid with interest, usually after your education is completed); and work-study (jobs either on or off campus).
What is Financial Aid based on?
Most financial aid is awarded on the basis of need. Your financial need is calculated by the difference between the price of a particular school and the amount you and your family are expected to contribute toward expenses. The amount you are expected to contribute will vary according to such factors as income, assets, number of children in the family, and number of children attending post-secondary institutions.
How do I get Financial Aid?
In order to receive financial aid, you must apply for it. You will need to complete both a PTC financial aid form and the Free Application for Federal Student Aid (FAFSA) to apply for most types of financial aid. You can also apply for the FAFSA on the web at www.fafsa.ed.gov. It is important to start early when applying for financial aid. Careful planning and an early start will improve your chances of finding assistance in a timely manner.
Where can I get assistance with the Financial Aid process?
Although financial aid may seem confusing, by seeking information, you can learn how to apply for aid. Several persons can advise you and your parents on the best way to meet college costs: counselors at high schools; financial aid administrators at post-secondary schools; and staff of the Higher Education Services Offices.
At Pine Technical College, you can contact the Financial Aid Office at 800.521.7463.
Do I need a PIN number to file?
Having a PIN makes it much easier to file electronically. The PIN is your electronic signature. It also allows you to make corrections on the web after you’ve filed your FAFSA. You can obtain a PIN at www.pin.ed.gov. If you are a dependent student one of your parents will also need a PIN number if you wish to apply online.
Should my parents get a PIN number?
Yes! One parent must sign your application, and since they, too, can use a PIN, this simplifies the process.
I don’t know if I have a PIN already—I attended college last year.
Go to www.pin.ed.gov and select “Apply for a PIN”. If you have one, this site will tell you and forward it to the address that you specify (email or US postal service).
What if I lose my PIN?
Go to www.pin.ed.gov. Select “PIN Request and Information”. You may request that a duplicate copy be e-mailed or mailed to you.
Do I need a new PIN every year?
No. Once you have a PIN, it is yours indefinitely. Parents can use the same PIN to sign the FAFSAs for other dependent children attending college in the future.
Student Aid Report Information
What is the Student Aid Report (SAR)?
The SAR is generated once your FAFSA has been processed. The SAR lists the information you provided on the FAFSA and will have comments regarding any problems or questions the processor has regarding your application. It will also list your expected family contribution (EFC) that will be used to determine your eligibility for financial aid.
Where can I get a copy of my SAR?
If you filed electronically, go to www.fafsa.ed.gov and choose “Print Student Aid Report” (SAR) from the site’s main menu.
What if I made a mistake on my SAR?
You may go to www.fafsa.ed.gov and choose “Make corrections to a processed SAR”. If you are making corrections to your information, you will need your PIN number. Your parents PIN number is also necessary if you are a dependent student.
How long before I hear something after I’ve filed?
You may check the status of your application at www.fafsa.ed.gov under “Check status of Submitted FAFSA”.
The information will be electronically sent to the college(s) listed on your FAFSA. Once we receive your information at Pine Technical College, there may be more information that we need from you. We will contact you if further information is needed. This normally occurs within 3-4 weeks of the time you filed your FAFSA. This time may be extended during peak time. BE SURE TO APPLY EARLY! Once your information is complete, you will be sent an award letter. Award letters will be sent out starting in May.
What is an Award Letter?
The award letter lists the type of aid for which you are eligible based on the number of credits for which you enroll.
Someone said I have to return the award letter to get my money. Is this true?
No. The award letter is for your information and records. However, if there is loan eligibility listed, there is additional paperwork required of you. You will need to complete loan entrance counseling and an electronic promissory note in order to borrow the loan if this is your first loan. If you have had a loan from the period beginning with 2002 to the present, the process may vary. Contact the financial aid office for further information on loans.
I have received an Award Letter. When do I receive my money?
Students will receive their disbursements on the dates posted in the student handbook. The funds will be applied to your account based on the number of credits for which you are enrolled. You will be mailed a check shortly thereafter if there are any remaining funds available. Students normally receive their funds by the beginning of the fourth week of the term. If you are borrowing loans, the dates that the loan will be mailed to you will be posted in the student handbook as well.
I didn't get as much money back as I thought I would. How can I check?
If you have questions on your account balance or expenditures, you will need to contact the business office. They will let you know how much has been paid on your account and the balance due, if one remains. They can be reached by calling the school’s main phone number. If it still seems unclear to you, stop in the financial aid office.
I don’t have a good computer. How should I file?
You can use one of the computers at Pine Technical College. If you do not live in the area, you can mail in a paper FAFSA to the processor or use a local computer—try your local library, high school, or use a friend’s computer, if they have internet access.
I am trying to file, but I am having trouble with the website. What should I do?
Sometimes the websites can be down for any number of reasons. This is usually temporary. If you have tried several times with no luck, try an alternate computer. If you are still having problems, call 1.800.4FEDAID and they will assist you.
Follow the links below to learn more about the various funds available to students.
U.S. Department of Education/Student Aid
The U.S. Department of Education maintains information about types of Federal Student Aid. Read about various types of aid, apply for aid electronically, and read about changes to student aid.
Minnesota State Office of Higher Education
The Minnesota State Office of Higher Education maintains an excellent, easy-to-navigate web that is full of state-specific resources to help you pay for college. Read about grants, loans, scholarships, tax incentives, and childcare assistance, or use the financial aid calculator to estimate how much funding you are eligible for! The How To Pay section is a good place to start!
Mapping Your Future
Mapping Your Future, a site sponsored by a group of guaranty agencies, maintains information about student loans and provides entrance and exit loan counseling. Check out the guided tour on paying for school!
FastWEB (Financial Aid Search Through the WEB)
The largest and most complete scholarship search on the Internet. FastWEB provides access to a searchable database of over 400,000 private sector scholarships, fellowships, grants, and student loans.
