Grants
A grant does not have to be repaid. Eligibility is based on need,
cost of attendance, and enrollment status. Grants include:
The Alliss Grant helps adult learners begin or return to college. It is a non-renewable grant and is not available to students who have applied for financial aid. In addition, the Alliss Grant:
- pays tuition for one course (up to five credits). The course must be transferable and lead to a degree.
- is not based on family income.
Funding IS LIMITED and is available on a first-come, first-served basis.
The grant does not cover the application fee, course fees or books.
Grant recipients must:
- be a legal resident of Minnesota
- be out of school for at least seven years.
- be first-time community college enrollee who graduated from high school at least seven years ago or former college
student who hasn't been in college for seven years.
- enroll in a college course that is a transferable course that would be accepted as an integral part of a degree program.
- pay for all student fees, above tuition, themselves.
Grant recipients must not:
- Hold a bachelor's degree or higher
- Be receiving financial aid or any other grant funding or tuition waivers
A Federal Pell Grant is gift assistance that does not have to be repaid. It is awarded only to undergraduate students who
demonstrate financial need and who have not earned a bachelor's or professional degree (a professional degree is
usually earned after earning a bachelor's degree in a field such as medicine, law, or dentistry). Beginning fall 2012,
students can only receive Pell Grants for the equivalent of 12 full time semesters.
For more information about federal grants, visit the U.S. Department of Education's Student Financial Assistance website.
Lock Dates
Federal regulations require colleges to establish a Pell Grant lock date to determine the
courses that are counted toward a student’s Pell Grant eligibility. Century College has
established the 10th day of class as the lock date. Financial aid disbursements then begin
on the 11th day of class based on your lock date enrollment.
If you could not register for a class prior to the Pell Grant lock date, we may be able to
manually adjust for late-start courses in certain circumstances. To be considered for
additional Pell Grant funds, complete the Request for Pell Recalculation form and submit
completed form to the Financial Aid Office.
Dropped Classes
Courses that are dropped and eligible for a tuition refund will have their Pell Grant
eligibility reduced to the new credit level. This is because dropped courses do not show
on a transcript, carry no tuition charges, and are not counted toward satisfactory academic
progress. Therefore, dropped courses do not count towards Pell Grant eligibility.
Please note: If you have withdrawn (have a grade of “W”) from any course(s),
those credits will not be included in your eligibility recalculation.
A Federal Supplemental Education Opportunity Grant (SEOG) is gift aid for undergraduate students enrolled at least
half time who have exceptional financial need and have not earned a bachelor's or a professional degree. In addition:
- Pell Grant recipients with the lowest expected family contribution will be the first to receive the SEOG
- These funds do not have to be repaid
- The amount awarded is based on the date of the application, financial need and availability of funds.
For more information about SEOG:
An applicant must be:
- a veteran who is serving or has served honorably in any branch of the US Armed Forces at any time on or after September 11, 2001; or
- a non-veteran who has served honorably for a total of five years or more cumulatively as a member of the MN National Guard or any other active
or reserve component of the US Armed Forces, and any part of that service occurred on or after September 11, 2001; or
- a surviving spouse or dependent of a person who has served in the military at any time on or after September 11, 2001,
and who has died or has a total and permanent disability as a direct result of that military service.
The student must also:
- be a Minnesota resident
- apply for the MN GI Bill benefits before the last day of the term for which benefits are requested
- be less than 62 years old before the beginning of the term for which benefits are requested
- be current on child support obligations, if applicable
- be enrolled in an eligible MN postsecondary institution in a certificate, diploma, or degree program
- be making satisfactory academic progress in his or her academic program.
For more information:
Eligibility
Scholarships are available to eligible Indian undergraduate students enrolled at least 3/4 time and graduate students
enrolled at least half time.
In order to qualify for this scholarship, you must be:
- one-fourth or more American Indian ancestry
- a Minnesota resident
- enrolled in an accredited college, university or vocational school in Minnesota
- qualify for either a Pell or State Grant.
For more information:
The Minnesota State Grant Program (MNSG) is need-based gift assistance that does not have to be repaid.
The grant is available for the equivalent of eight full-time semesters. To be eligible for this grant, you cannot have a bachelor’s degree and must:
- meet the Minnesota residency requirement (as defined by the Minnesota Office of Higher Education)
- be a graduate of a secondary school or equivalent
- be at least 17 years old
- attend at least three credits per semester and maintain satisfactory academic progress
- submit a Free Application for Federal Student Aid (FAFSA) online within 30 days of the school’s semester start date
If you are in default on a student loan or are more than 30 days behind in child support payments, you are not
eligible for a Minnesota State Grant (unless satisfactory payment arrangements have been made with the appropriate
agency).
For more information:
Student loans
A loan must be repaid, either while attending college or after the student stops
attending at least half time (depending on the type of loan). The most common student loans are:
Student Employment
Student employment (work-study) is
a form of financial aid, and allows students to earn extra money, gain valuable work experience, and pay for extra
school-related expenses. Many positions are available in a variety of disciplines. They require minimal experience
and offer a flexible work schedule.
Century Foundation Scholarships
Contact the Century College Foundation
(E. Campus, Rm 2511, 651.779.3356 for information about scholarships.
You must submit a FAFSA online and
have an Award Letter from Century College before you can request Direct loan funds. There are three types of Federal
Direct loans: Subsidized Direct Loan, Unsubsidized Direct Loan and Direct PLUS Loan."
- The Subsidized Direct Loan is a need-based loan.
- The government pays all of the interest on the loan while the student is enrolled in school at least half time.
- Repayment of principal and interest begins six months after the student graduates, withdraws from college or enrolls less than half time or 6 credits.
- The Unsubsidized Direct Loan is not need-based and the interest accrues during the loan term.
- The student can choose to pay the interest while attending school or defer the payments until the loan repayment period.
- Repayment of principal and interest begins six months after the student graduates, withdraws from college or enrolls less than half time or 6 credits.
- Federal Parent Loan for Undergraduate Students (PLUS)
- The Federal Parent Loan for Undergraduate Students (PLUS) program provides loans to parents of dependent students.
Subsidized Direct Loan and Unsubsidized Direct Loan
For either loan, the student must be currently enrolled in an eligible major, attend at least half time (6 credits per semester), and maintain satisfactory progress.
Loan funds must be requested online at least three class days prior to the end of the term for which the loan is requested.
For more information on current interest rates, visit Student Aid on the Web. There will be an origination fee of 1 percent, taken out of each disbursement.
The maximum Subsidized and Unsubsidized Direct loan amount combined for a first year dependent student is $5,500. The maximum increases to $6,500 for a second year dependent student. Students are second year if they have completed 30 credits, including transfer credits.
The maximum Subsidized loan amount for a first-year independent student is $3,500 and the maximum Unsubsidized loan amount is $6,000. The maximum increases to $4,500 Subsidized and $6,000 Unsubsidized for a second year independent student.
Students are second year if they have completed 30 credits, including transfer credits.
For more information on Direct Student Loans, please see check out the Department of Education website.
Federal Parent Loan for Undergraduate Students (PLUS)
To qualify, students must:
- Complete a FAFSA online and be awarded financial aid
- Be enrolled at least half time in an eligible program and maintain satisfactory progress
- Be less than 24 years old, unmarried, with no dependents
- Not be in default on a student loan or owe a refund on an educational grant
To qualify, parents must:
- Be a U.S. citizen, national or eligible non-citizen.
- Be current in payments, and not in default on any federal student loans.
Parents may apply for the Direct PLUS loan up to three days prior to the end of the term for which the loan is requested.
There are no annual or aggregate borrowing limits in this program. However, funds borrowed cannot exceed the student's annual cost of attendance minus all other financial aid awarded.
The current interest rate on the Direct PLUS loan is 7.9 percent. An origination fee of 4% is deducted from each loan disbursement.
A credit check is performed on the parent by the lender before approval. If a parent is denied a Direct PLUS loan due to an adverse credit decision determined by the lender, the student may be eligible for more funds through the Direct Unsubsidized Loan program.
Please contact the Financial Aid Office for more information.
Deferments and forbearances may be available, which allow the borrower to temporarily suspend or reduce payments on their loan for a specified period of time.
For more information:
Private loans are available through various lenders. Students who do not qualify for a Direct Loan or find that they need additional funding may want to consider this alternative. Students should learn about a private loan before completing an online application.
Become familiar with the terms of the loan such as the interest rate and how it is calculated, any fees associated with the loan, repayment terms, whether or not a co-signer is required, deferment and forbearance options available, rights and responsibilities for borrowing this loan, and if there may be a look-back feature available for financing past due balances.
Carefully review which loan is the best fit, whether you are a student or parent. Each has a different interest rate, may have additional fees assessed, and different eligibility requirements.
A historical Private Lender List is available at Private Lender List. Students should consider and compare all other options such as the Direct Loan, and PLUS loans before applying for a private loan.