Financial Aid at Rasmussen University

The University has a professionally staffed Student Financial Aid Office designed to help you apply for federal, state, and private assistance. The primary purpose of financial aid is to help students who otherwise may not be able to attend a post-secondary institution to meet the cost of higher education. The basic responsibility for financing your education lies with you and your family. Aid is based upon documented financial need the difference between the cost of university and your ability to pay for it and is subject to federal and state requirements and allowances. Potential costs include books, tuition, fees, supplies, living expenses, transportation, miscellaneous expenses, and childcare costs.

There are three basic types of aid available to Rasmussen students:

• Gift Aid, also known as grants, this is assistance that does not need to be repaid and is usually based upon financial need.
• Employment Work study programs may provide relevant work experience and decrease the necessity of borrowing student loans for living expenses.
• Loan Funding Funding available through various state and federal student loan programs. These funds must be repaid.

Once a student has had their financial aid eligibility determined, a payment plan will be created for any balance still owed the University. If a student has not submitted all requested financial aid eligibility documentation by the beginning of the fifth week of the quarter, a payment plan will be created for the full balance owed. The student still has the opportunity to submit all requested financial aid eligibility documents to have their aid eligibility determined; however, the payment plan will remain active until such time as the balance is paid in full.