Types of Aid
(605) 995-3083 [fax]
Listed below are some of the types of aid for which you may qualify. Click each type to review. Your FAFSA application is the first step to help you determine your financial aid package.
The Federal Pell Grant Program
Is a grant program funded by the federal government. The Student Aid Reports (SARs) from the processing center tell the MTI Financial Aid Office whether or not you qualify for this grant, and, if so, for how much. Pell grants range from $976 to $5550 for full-time students enrolled in a program leading to a degree or diploma.
The Federal Supplemental Educational Opportunity Grant Program
is also a grant program funded by the federal government. Students who receive Pell Grants have priority for receiving this grant. Funding for this program is limited. Please apply early. Applicants typically receive funds from $100 to $600.
The Federal Work Study Program
Is funded by the federal government. The Financial Aid Office determines eligibility. If you qualify and funds are available, you are allotted an amount of money that you can earn during the academic year. Limited summer jobs during non-enrollment periods are also available. Contact the Financial Aid Office for details.
Off-campus Employment Opportunities
are available. See the Student Services office or visit the South Dakota Department of Labor website.
Student loans are sources of financial aid which must be repaid at a future time. All types of loans are disbursed on a semester basis.
The Federal Perkins Student Loan
is a campus-based loan that is federally funded with eligibility determined by the Financial Aid office. You must have exceptional need to qualify for this loan. Repayments begin nine months after you leave MTI.
The Federal Direct Loan Program
Is a low-interest loan program that allows dependent students to borrow up to $5500 for their first year and $6500 for their second year. Independent students may borrow up to $9500 for their first year and $10,500 for their second year. This program is either subsidized or unsubsidized. If the loan is subsidized, the interest does not accrue until six months after the time you leave MTI. If the loan is unsubsidized, interest is charged from the time the loan is disbursed. Your award letter will indicate the type of loan for which you qualify.
Federal Parent Loans (PLUS)
Is a program which provides an opportunity for parents of dependent students to borrow funds for their student's educational costs. Applications are processed by the Financial Aid office, and loan amounts may not exceed educational costs minus other financial aid.
Other Off-Campus Agency and Financial Aid Source
Temporary Assistance for Needy Families (TANF)
If you are in this program, check with your TANF coordinator to see what assistance you may receive to attend MTI.If you are in this program, check with your TANF coordinator to see what assistance you may receive to attend MTI.
Bureau of Indian Affairs (BIA)
If you qualify for BIA funds, you should start by contacting your local BIA Agency. Paperwork completed early will ensure timely arrival of your funding.
Financial aid is available for mentally or physically disabled persons. Contact your local Voc-Rehab office.
Contact the Veteran's Center at (888) 442-4551 or the Financial Aid office at MTI to request information about the programs for which you may qualify. For more information visit the Veteran's Administration website.
National Guard Benefits
Members of the National Guard may qualify for 100% tuition benefits and monthly stipends under the Chapter 1606 program. Contact your commanding officer.
Workforce Investment Act (WIA)
An employment and training program designed to provide services that will increase skills for adults and youth that will result in employment and an increase in earnings. Selection for participation in the program is based on eligibility, assessment of your needs, interests, abilities, motivation and the prospects for successfully completing the program. Click here for more information.
MTI accepts other scholarships and will assist anyone with these. Click here for details.