Financial Aid

Frequently Asked Questions

 Below, are questions and answers to some of the most frequently asked financial aid questions.  Please read thoroughly.

  1. When will I receive my Financial Aid?
  2. How do I know how much I will receive after my tuition and fees are paid at the college?
  3. What is verification and what do I need to do?
  4. How do I apply for financial aid?
  5. What is a grant?
  6. How do I apply for a loan?
  7. Are loans considered part of financial aid?
  8. How do I apply for workstudy?
  9. How much can I earn when I work workstudy?
  10. Can workstudy be done anywehere or is there a list of jobs that I can review?
  11. When I look at my financial aid status online it says that I canecled the financial aid. I never cancelled my financial aid and do not want it canceled. What's going on?

ANSWERS:

1.  When will I receive my Financial Aid?

A student must first have an official award letter before any financial aid funds are released.  Financial aid is always applied first to a student's outstanding tuition and fees.  The balance, after tuition and fees is paid to the college, is issued to the student on the 11th class day of the semester.     Back to Top  

2.  How do I know how much I will receive after my tuition and fees are paid at the college?

To determine how much you will receive after your financial aid pays you tuition and fees you will need to log in to your account on the Riverland web page.  First, under "Bills and Payments" view your "Balance Due by Term" to see the balance due for the semester. Next, under "Financial Aid" view your "Award Letter" to see awards for the semester.  Subtract the financial aid you will be receiving from the balance due to determine if you will have excess financail aid funds or if you need to pay the difference.           Back to Top

 3.  What is verification and what do I need to do?

Each year about 30 percent of students' financial aid applications nationwide are randomly chosen for "verification": a process of confirming data supplied by the applicant and/or parents on aid applications. 

If your application is selected for verification you will receive a letter from us asking you to submit signed copies of federal tax returns and a verification worksheet.

Aid funds cannot be disbursed to you until you have submitted all requested documents and the accuracy of your information has been checked. Do not submit any documents unless we request that you do so. This process can take three weeks or longer.

Do

  • turn in all documents requested as soon as possible.
  • be sure all documents are signed.
  • be sure your name and student ID and/or Social Security number are on all documents you submit.
  • call the IRS at 1 (800) 829-1040 if you need copies of your IRS forms
    • Back to Top

4.  How do I apply for financial aid?

You must complete and submit the FAFSA (Free Application For Federal Student Aid) to apply for federal or state aid for college.

Here are your options for applying:

  • The quickest way to apply is online using FAFSA on the web at www.fafsa.gov

OR

OR

  • Call 1-800-4-FED-AID and request a paper application.                      Back to Top

5.  What is a Grant?

Grants are funds which do not require repayment (free money).  Grants are awarded based on a "financial need" formula determined by the U.S. Congress using criteria submitted through the Free Application for Federal Student Aid (FAFSA).                                        Back to Top

6.  How do I apply for a loan?

The loan application is available on the Riverland website only.  Check your award letter for the link to compelte your loan request.                                                        Back to Top

7. Are loans considered part of financial aid?

Yes, loans are considered part of financial aid.  Students must complete the FAFSA and have an award letter before they can receive a student loan.                            Back to Top

8.  How do I apply for work study?

You must complete a Free Application for Federal Student Aid (FAFSA) and receive an award letter including Work Study in order to obtain a position.  Your Award Letter will list "Federal Work Study" or "Minnesota Work Study" if you have been awarded work study funding.  If you have not been awarded work study, please contact the Financial Aid Office for information about the availability of work study funds.               Back to Top

9.  How much can I earn while doing work study?

Work study positions pay $8.00/hour.  The maximum hours a student can work is 15 hours per week.  Refer to your award letter to determine the maximum you can earn for the semester.                         Back to Top

10.  Can I work anywhere or is there a list of jobs that I can reveiw?

Work study positions are all posted on the Riverland web site.  These are the only locations you can work to earn your work study dollars.                                                       Back to Top

11.  When I look at my financial aid status online it says that I canecled the financial aid. I never canceled my financial aid and do not want it canceled. What's going on?

This means the Financial Aid Office has made corrections to your financial aid file.  It will remain at this status while we wait for the Department of Education to send us the corrections.  This status will change after 2-3 days.  Please re-check your status again after this time has passed.                             Back to Top