The Western Dakota Tech Financial Aid Office is dedicated to administering the U.S. Department of Education’s Title IV Financial Assistance Program in a fair, consistent, and efficient manner. We assist students in seeking funding opportunities in order to fulfill their post-secondary educational goals by providing personalized service, accurate and meaningful interpretation of federal eligibility regulations, and guidance regarding long-term financial considerations and default management.
The following sections describe the various financial assistance programs available at Western Dakota Tech. These descriptions are summaries and do not contain all of the rules and regulations that apply. In addition, all of the aid described below is distributed based upon financial need. For more information, contact the Financial Aid Team.
Federal Direct Subsidized Loan
The Federal Subsidized Loan is a need-based loan made to students by the U.S. Department of Education. Interest is covered while the student is enrolled in school with at least half-time enrollment status. Repayment begins six months after the borrower completes his/her education or ceases to be at least a half- time student. Contact the financial aid office for current year information about the Federal Direct Subsidized Loan’s annual award amounts and current interest rates.
Federal Direct Unsubsidized Loan
The Federal Direct Unsubsidized Loan is a non-need-based loan made to students by the U.S. Department of Education. Interest accrues immediately, which the student can choose to pay quarterly or let capitalize. Principal payments do not begin until six months after the borrower completes his/her education or ceases to be at least a half-time student. If a parent is denied a Federal PLUS, a dependent student may be awarded additional funds under the Federal Direct Unsubsidized Loan Program. Contact the financial aid office for current year information about the Federal Direct Unsubsidized Loan’s annual award amounts and current interest rates.
Federal Direct Parent Loan
to Undergraduate Students (PLUS)
The Federal Direct PLUS enables parents with a good credit history to borrow money from the U.S. Department of Education to pay the education expenses of their dependent undergraduate student(s). If a parent is denied the Federal Direct PLUS, a dependent student may be awarded additional funds under the Federal Direct Unsubsidized Loan program. Federal Direct PLUS eligibility is not based on need. Repayment begins 60 days after the full disbursement of the loan; however, the parent may contact the servicer of this loan and ask about in-school deferments. The yearly limit on a Federal Direct PLUS is equal to the cost of attendance minus all other financial aid received by students. Contact the financial aid office for current year information and about the application procedures.
Loan Repayment Estimator
Estimate your monthy loan repayment amounts on the Department of Education Federal Student Aid website: https://studentloans.gov/myDirectLoan/repaymentEstimator.action
Federal Pell Grants
Federal Pell Grants are free grants that do not have to be paid back. They are awarded to students who have a particular level of need determined by the federal government, have not received their first bachelor’s degree and have not already reached their Pell Lifetime Eligibility Limit.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is a free grant and does not have to be paid back. The federal government allocates monies to institutions to award FSEOG grants to exceptionally needy students. Priority must be given to Pell Grant recipients. Since the funds are limited, students may also be required to meet the preference deadline of April 1 to be considered for the FSEOG.
Federal Work-Study Program (FWS)
Federal Work Study provides jobs for undergraduate students with financial need, allowing them to earn money to help pay educational expenses. Limited funding for FWS is provided through the federal government with additional contributions from Western Dakota Tech.
Students taking classing as another institution and planning to transfer them to Western Dakota Tech may be able to receive financial aid from Western Dakota Tech. Complete the Consortium Agreement Request Form or contact the Financial Aid Team to start the process.