Financial Aid Frequent Questions

Welcome to Anoka Technical College from the Office of Financial Aid.

The information provided here is designed to answer some of the questions asked by students and parents and to ease some of the anxiety often associated with financial aid.

If, after reading the information you still have questions, please feel free to contact our office at 763-576-4760.

When/How/Where is Financial Aid Disbursed?

Financial aid will disburse to Anoka Tech beginning the third Tuesday of the term. If the amount of financial aid received exceeds the balance on your account you will be issued a refund on the third Friday of the term. If your financial aid award is not complete by the initial disbursement, the financial aid office disburses funds every Tuesday. If the institutional charges exceed your financial aid, the funds will be credited to your account and you must pay the remaining balance.

Permanent Address

Make sure your permanent address is current at all times with the Records Office of Anoka Tech.

Records Office 763-576-7740

Change your Address in eServices or bring the physical form to the Records Office.

 

If your financial aid exceeds your tuition and fee charges, you have the option to either set up direct deposit in your e-services account or a paper check will be mailed to the address on file. For more information on direct deposit options, please contact the Business Office.

If your charges exceed your financial aid, you are required to pay the difference. You should contact the Business Office immediately for payment arrangements to avoid late fees and to be able to register for upcoming semesters on time. If a balance due is not paid within a certain amount of time you may be sent to the MN Department of Revenue for collection efforts.

When financial aid funds are disbursed, the system does a final review of your status, and disburses the financial aid that is appropriate for the number of credits for which you are enrolled.

How do I request a Tax Transcript

You can request a tax transcript from the IRS free of charge by visiting the IRS website at www.irs.gov.

  • Click on "Get your tax record"
  • You can choose to either create and account and print off the transcript OR get the transcript by mail

How is my financial aid eligibility determined?

The amount of financial aid offered a student is determined by the student's "financial need." A student's financial need is determined by the difference between the total cost to attend the institution and the student's expected family contribution. A student's Expected Family Contribution (EFC) is calculated from the information given on the student's Free Application for Federal Student Aid (FAFSA), using a formula determined by Congress. While different schools will have a different cost of attendance the EFC does not change from school to school. The total cost of attendance is determined by the financial aid office and will differ from year to year based off tuition rates, cost of living expenses etc. 

When should I apply for financial aid?

Oct 1st EVERY YEAR!! The FAFSA application for the following year is available as of Oct first. For example, if you are applying for fall 2018 you could complete the FAFSA as of Oct 1st 2017. Some grants offered are first come first serve, so the sooner you complete the FAFSA the better change you may have at receiving some additional FREE money.

How do I receive an award notification?

Once the Anoka Tech Financial Aid Office receives your FAFSA results, and you are accepted for admission to Anoka Tech, we will check your file for completeness. If additional forms and/or information is needed, we will send you an e-mail notification explaining what is necessary. Once we have complete and accurate information from you, we will send you an official notification of your financial aid award letter. You may check your Financial Aid Award and your status can also be accessed at:

  1. www.anokatech.edu
  2. E-Services
  3. Enter STAR ID and Password
  4. Financial Aid Award Letter OR Status Letter

Do I have to add parental information to the FAFSA?

Even if your parents don't contribute money toward your education, you're considered a dependent of your parents and need their information unless:

  • You are 24
  • You are married
  • You are enrolled in courses for your master's or doctorate program
  • You are a veteran or on active duty (not in training)
  • You have children or legal dependents (other than a spouse) who will receive more than half of their support from you
  • When you were age 13 or older, both of your parents were deceased, you were in foster care or were a ward of the court
  • You are an emancipated minor
  • You are in legal guardianship as determined by a court
  • You are an unaccompanied youth who is determined to be homeless by your high school, school district homeless liaison, a director of an emergency shelter program, runaway or homeless youth basic center or transitional living program.

You may be eligible to submit a dependency appeal if you have documentation that you have no known whereabouts if your parents, both are deceased or its a dangerous situation for you to get in contact with them. You will NOT be eligible for the following reasons: 

  • Parents are unwilling to provide information on the FAFSA or provide documentation for verification information
  • Parents refuse to contribute to the child's education
  • Student demonstrates self-sufficiency and/or is living on ones own

You may contact the financial aid office for appeal information.

Do I include a stepparent's information on my FAFSA?

Yes. If the parent who has supported you the most in the past year has remarried as of the date you complete the FAFSA, answer the questions on the form about that parent and the person whom your parent married.

Will I receive Work Study this year if I did it last year?

Unfortunately, there are no guaranteed federal student aid awards. Each year students must complete the FAFSA or Renewal FAFSA. The most current FAFSA results will determine which federal financial aid programs students are eligible for. A student may or may not be awarded work study accordingly.

In addition, the university receives limited work study funding every year. Be sure to have your applications in by the priority deadline to have a better opportunity to receive work study.

Subsidized - Unsubsidized Loans: What is the difference?

If you are eligible for and take out a Subsidized Federal Direct Loan, the federal government will pay the interest for you while you are in school and up to six months after you cease to be student(at least half-time), at which time you will need to begin repaying the loan.

If you are eligible for and take out an Unsubsidized Federal Direct Loan, interest will accrue as soon as the loan disburses. You will have the option of either paying the interest as it accumulates or capitalizing the interest (adding it to the principal balance). If you choose to pay the interest back as it accumulates you will pay less in interest overall. Like a Subsidized loan, you will have to begin payment six-months after you cease to be a student (at least half-time).

Do I need to fill out the FAFSA every year?

Yes. You need to complete a FAFSA for each academic year you would like to receive federal financial aid.

You can apply here: www.fafsa.gov.

Contact

Financial Aid
763-576-7730