Grants & Loans
Grants and Loans are available to students to help cover the costs of attending college. Resourceful information is provided below about different types of grants and loans.
Grants
The Federal Pell Grant is grant assistance for students who have not earned a bachelor's degree. Federal Pell Grant awards may range up to $6,895.
Who is eligible?
Students who show a need for financial assistance are eligible for a Federal Pell Grant.
Does it have to be paid back?
The Federal Pell Grant is gift aid. It does not have to be repaid unless the student withdraws from classes or does not successfully complete the semester.
The Federal Supplemental Educational Opportunity Grant (FSEOG) provides grant assistance for undergraduate students, with priority given to Federal Pell Grant recipients. The maximum annual award for the FSEOG is $500.
Who is eligible?
The FSEOG Grant is available to students who file a Free Application for Federal Student Aid (FAFSA), who need financial assistance and qualify for a Federal Pell Grant.
Does it have to be paid back?
The FSEOG is gift aid and does not have to be repaid.
Due to limited funds, some eligible students may not be awarded this type of assistance.
The Iowa Vocational-Technical Grant provides grant assistance to Iowa residents only. The Iowa Vocational-Technical Grant award can range from $500 to $1,000 for a full academic year.
Who is eligible?
The Iowa Vocational-Technical Grant is available to Iowa Residents who show financial need and complete their Free Application for Federal Assistance (FAFSA) by the July 1 deadline.
Does it have to be paid back?
The Iowa Vocational-Technical Grant is gift aid and does not have to be repaid.
* Due to limited funds, some eligible students may not be awarded this type of assistance.
Iowa residents enrolled in specified career or technical education programs at Iowa community colleges may be eligible for this grant program. The maximum Kibbie Grant award is one-half of the average Iowa community college tuition and mandatory fees per year for up to two years of education. Part-time students may be eligible for prorated amounts.
Who is eligible?
The Kibbie Grant is available to Iowa residents enrolled in a specific career or technical education program.
The following programs are Kibbie Grant eligible at Iowa Lakes Community College for the 2021-22 Academic year.
- Automotive Technology
- Aviation & Airport Management
- Business Specialist
- Computer Programming
- Construction Technology
- Digital, Social & Broadcast Productions
- Early Childhood Education
- Electrical Technology
- Engineering Technology
- Farm Equipment & Diesel Technology
- Graphic Design
- Game Design & Development
- Heating, Ventilation & Air Conditioning Technology
- Medical Assistant Specialist
- Nursing, ADN & PN
- Paralegal & Legal Studies
- Surgical Technology
- Welding Technology
- Water Quality Technician
Does it have to be paid back?
The Kibbie Grant is gift aid and does not have to be repaid.
* Due to limited funds, some eligible students may not be awarded this type of assistance.
The National Farm Worker Jobs Program (PROTEUS) is a grant from the Department of Labor that assists those who have done seasonal or migrant farm-work in the last two years. This grant can assist with tuition, books, tools, and a weekly stipend for classroom time.
Who is eligible?
The PROTEUS Grant is available to students who have done seasonal or migrant farm-work in the last two years and plan to obtain a two-year degree or less.
Does it have to be paid back?
The National Farm Worker Jobs Program (PROTEUS) is gift aid and does not have to be repaid.
Loans
The Federal Direct Loan Program provides low-interest student loans to postsecondary students (undergraduates and graduate students) and their parents. The Federal Direct Loan Program offers subsidized and unsubsidized loan options for students.
Annual limits range from $5,500 for dependent students and up to $10,500 for independent students.
The Federal Direct Loan Program provides a Subsidized, Unsubsidized, or a PLUS Parent Loan option.
Subsidized Loans vs. Unsubsidized Loans
Subsidized Loans are available to students who show a need for financial assistance and are enrolled at least half-time (6 credits). The Department of Education pays the loan interest for subsidized loans while a student is enrolled at least half-time in college.
Unsubsidized Loans are available to any student who is enrolled at least half-time. The loan interest for unsubsidized loans begins accruing as soon as the loan is disbursed, including while enrolled in school. Students have the option to pay the interest as they go or allow the interest to accrue. If the interest is allowed to accrue, it will be added to the loan's principal amount and increases the total balance needed to be repaid.
Both Subsidized and Unsubsidized Loans have variable interest rates that are lower than available commercial rates.
Do they have to be paid back?
Subsidized Loans
Repayment of principle and interest will begin six months after termination of study or after a student drops below half-time.
Unsubsidized Loans
Repayment of principle and interest will begin six months after termination of study or after a student drops below half-time.
Note: Interest is charged when the loan is disbursed until the loan is paid in full.
Federal Direct PLUS (Parent) Loan
The Federal Direct PLUS Parent Loan is available for parents of dependent undergraduate students. Those interested in the Federal Direct PLUS (Parent) Loan program should contact the Financial Aid office for more information.
Emmetsburg Campus 712-852-5267
Estherville Campus 712-362-7917
ALL students wishing to borrow must complete the following steps:
- Complete the opens in a new windowLoan Authorization Form
- Sign the opens in a new window Direct Loan Master Promissory Note (MPN)
- Complete the required loan opens in a new window Entrance Counseling for undergraduate students
To complete the Entrance Counseling and the Master Promissory Note (MPN), students should use their Federal FSA-ID and password. The Federal FSA-ID and password are the same as the user name and password used to complete the Free Application for Federal Student Aid (FAFSA).
The Iowa Lakes Financial Aid Office will correspond with students via email regarding completing the Direct Loan Process.
Questions?
Contact our Financial Aid Office:
Emmetsburg Campus 712-852-5267
Estherville Campus 712-362-7917
There are many ways to pay for higher education. Choosing the right approach requires a good understanding of your options, responsibilities, and the various details of each lender's loan products.
Loan Exit Counseling
QUESTIONS?
Contact the Iowa Lakes Financial Aid Office.
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Stephen Pelzer Director of Financial Aid 712-362-7917 | spelzer@iowalakes.educreate new email Estherville Campus |
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Deb Weston Financial Aid Office Associate 712-362-7920 | dweston@iowalakes.educreate new email Estherville Campus |
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Meghan McCann Associate Director of Financial Aid 712-852-5276 | mmccann@iowalakes.educreate new email Emmetsburg Campus |
