$4,284

Avg. Federal Grant

$7,999

Avg. Federal Loan

$24,870,822

Total Aid Awarded

Rasmussen College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

67%

Total Aid Amount Average Total Aid Awarded per year.

$24.871M

Financial Aid Official Website

rasmussen.edu

Financial aid at Rasmussen College, MN, plays a very significant role in your decision. About 67% of the students receive aid, with a total aid amount of $24,870,822, while the average federal loan being $7,999. So, in order to qualify for any type of aid, students must complete the free FAFSA form which is available each year on January 15th and October 1st. Once this is completed, the student will get a Student Aid Report (SAR) to determine for their eligible financial assistance. All the directed documents are taken care of by the Rasmussen College’s financial aid office, which is on the basis of first-come, first-served.

The financial aid package will most likely involve both federal grants and federal loans in which the federal grants are not to be paid back, but federal loans are. Moreover, in order to qualify for financial aid, students need to meet Satisfactory Academic Progress (SAP), according to Jessica Crotty, Rasmussen College’s director of student financial aid.

Scholarships

Scholarships can help the students to minimize their loan debt, making college more accessible. Rasmussen FAFSA disbursement helps students with the majority of scholarships at the financial aid no earlier than three weeks into the term. 

The scholarships provided by the college are “The Change a Life Scholarship” specifically for new incoming students receiving up to $500 on their education, and for locating external scholarship opportunities, one can refer to the official website or reach out either by;

Rasmussen college financial aid number: 855-986-2255 or

email: slm@rasmussen.edu.

Need-based Scholarship

Scholarships that are based on need and financial challenges may bring alternate chances. For an instance, Executive Women International offers the Adult Students in Scholastic Transition Scholarship (ASIST) to adults who are in need of immense aid while trying to pursue educational studies again.

Elearners backs up The Project Working Mom Scholarship Fund rewarding scholarships of over $5 million to single parents who try to continue their online education. 

College Institution Scholarship

Most of the colleges always present their own grant for the adult student, so always consult a financial advisor to see for the flexible option. New grants are present with online degree programs, such grants are awarded on a need-based system to aid the needful student with a larger award.

Grants

Grants are another option for students to erase the financial burden developed by Federal Student Loan Debt. They are primarily awarded by a “needs-based” situation, whereas Scholarships being awarded on a “merit-based” condition. Multiple numbers of grants are available, such as the Federal Pell Grant. According to the Department of Education, Pell Grant is usually considered for undergraduate students who have not earned a Bachelor’s/professional degree. Depending on financial need, the lower the family income, the more money the student receive accordingly.

With limited funds, completion of a FASFA form is needed for eligibility.

Minority or Gender-based Grants

Other grants as such especially for single moms, non-traditionally-aged college students, and minority women are also available.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

60%

State Grant Aid

45%

Institution Grant Aid

42%

Pell Grant

60%

Average Aid Awarded

Federal Grant Aid

$4,284

State Grant Aid

$2,878

Institution Grant Aid

$1,775

Pell Grant

$4,266

This section gives you general information about the amount of different aid given to the student and the percentage of the students receiving it. The breakdown of which is given below:

  • Average Federal Grant aid is $4,284, with the percentage of students receiving it is 60%.

  • The average Pell Grant aid received by the student is $4,266 and the percentage of students receiving it is 60%.

  • About 45% of students receive State Grants that contribute to an average amount of $2,878.

  • Institution Grant average aid worth an average of $1,775 is received by 42% of students applying for it.

To get more information regarding this section, you can contact the Rasmussen college financial aid office.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,654

$30,001 - $48,000

$7,538

$48,001 - $75,000

$3,572

$75,001 - $110,000

$1,461

Over $110,000

$1,777

As shown in the table above, the lower the family income, the higher is the amount of aid given to the recipients depending on the family income. On an average, a federal aid of $6,654 is given to those whose family income is under $30,000, while $7,538 to $30,000- $48,001, and $3,572 for $48,001-$75,000, about $1,461 whose income range is $75,001-$110,00, an aid of $1,777 is provided to those recipients whose family income is more than $110,000, which indicates that the university is capable of helping the potential students to make their education more economical and fruitful.

Student Loans for Rasmussen College

Average Loan Amount Average Loan Amount received per year.

$8,521/Year

Students Taking Out Loans

73%

Loan Default Rate

N/A

To get financial help, Rasmussen students can apply for a student loan by filling the FAFSA with all the necessary requirements. The probability of getting a student loan is up to 73% with an amount of student loan of $8,521 on average. 

The allocation of federal loans and disbursements based on the first-come, first-served policy, hence submitting your application before the FAFSA deadline will help in getting a bigger number to manage your tuitions. 

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