Grants & Loans
making college affordable
Grants and loans are invaluable resources that help students manage college costs. At Iowa Lakes Community College, we provide guidance and support to ensure you can access the financial aid you need to achieve your educational goals.
What are Grants?
Grants are a type of financial aid you don’t need to repay, making them a preferred option for eligible students. Federal grants, like the Pell Grant, are awarded based on financial need as determined by the Free Application for Federal Student Aid (FAFSA). Iowa Lakes also offers access to state and institutional grants, many of which are designed for students with specific academic or career goals.
These grants can significantly reduce your educational expenses, allowing you to focus on your studies without worrying about repayment.
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 $7,395.
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. Students must demonstrate financial need and have an eligible Student Aid Index (SAI) on the FAFSA of 0 - 6,000 in the 2025-26 academic year.
The following programs are Kibbie Grant eligible at Iowa Lakes Community College for the 2025-26 Academic year.
- Automotive Technology
- Aviation & Airport Management
- Computer Programming
- Construction Technology
- Criminal Justice
- Culinary Arts & Hospitality Management
- 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
- Surgical Technology
- Veterinary Technician
- 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.
The Federal Direct Parent PLUS Loan is available to parents of dependent undergraduate students to assist with education-related expenses not covered by other financial aid the student has been offered.
For the 2026–27 academic year, the maximum award amount is $20,000, with a lifetime maximum of $65,000 available.
To apply for a Parent PLUS loan, please complete the steps below.
- Fill out Parent PLUS Application
- Complete Master Promissory Note
What Are Loans?
Loans are borrowed funds that must be repaid, typically with interest, after you graduate or reduce your enrollment below a certain level. Federal student loans often come with lower interest rates and flexible repayment options, making them a practical solution for many students. For additional needs, private loan options may be available.
Iowa Lakes provides resources to help you understand your loan options and make informed borrowing decisions.
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 Loan Authorization Form
- Sign the Direct Loan Master Promissory Note (MPN)
- Complete the required loan 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.
Get the Support You Need
Our financial aid team is here to guide you through the grant and loan application processes. We’re dedicated to helping you maximize your financial aid package and choose options that align with your financial goals.
Questions? Let's Talk
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Denise Mahoney Financial Aid Office Associate 712-852-5267 | dmahoney@iowalakes.edu Emmetsburg Campus |
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Deb Weston Financial Aid Office Associate 712-362-7920 | dweston@iowalakes.edu Estherville Campus |
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Noah Heifner Associate Director of Financial Aid 712-852-5276 | nheifner@iowalakes.edu Emmetsburg Campus |
