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

Federal Pell Grant

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 $6,195.

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. 

Federal Supplemental Educational Opportunity Grant (FSEOG)

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.

Iowa Vocational - Technical Grant

The Iowa Vocational-Technical Grant provides grant assistance to Iowa residents only. The Iowa Vocational-Technical Grant award can range from $500 to $900 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.

Kibbie Grant

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.

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.

National Farm Worker Jobs Program (PROTEUS)

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

Federal Direct Loan Program

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

Direct Loan Process

ALL students wishing to borrow must complete the following steps:

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

Alternative Loan Options

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.

opens in a new windowExplore Alternative Loan Options

QUESTIONS?

Contact the Iowa Lakes Financial Aid Office.

Dianne Hough
Dianne Hough
Financial Aid Office Associate
712-852-5267 Ext: 5267 | dhough@iowalakes.educreate new email
Emmetsburg Campus
Regina Marquez
Regina Marquez
Financial Aid Associate
712-852-5276 Ext: 5276 | rmarquez@iowalakes.educreate new email
Emmetsburg Campus
Stephen Pelzer
Stephen Pelzer
Director of Financial Aid
712-362-7917 Ext: 7917 | spelzer@iowalakes.educreate new email
Estherville Campus
Deb Weston
Deb Weston
Financial Aid Office Associate
712-362-7920 Ext: 7920 | dweston@iowalakes.educreate new email
Estherville Campus