MTI Reimburses Students $1.2 Million for Spring Semester
Friday, January 31, 2020
by Ellen Bardash for the Mitchell Daily Republic, January 31, 2020
Mitchell Technical Institute students pocketed nearly $1.2 million Thursday afternoon during the school's financial aid distribution for the spring semester.
The money comes from what's left over after financial aid and scholarships are awarded and applied to students' school expenses from the semester, CFO Jared Hofer told The Daily Republic.
"I think this is a very good thing for the Mitchell economy, because I think the students then have money to purchase things: the necessities, like paying rent and buying groceries and things like that," Hofer said. "We always joke we hear about other things that they do with the money: Xbox games; tattoos have become a big one that we've heard a lot in recent years."
Spring semester classes began at MTI on Jan. 9, but the excess money isn't awarded until students' tuition costs are solidified, after the period in which they can add or drop a class.
The process takes place every semester, and Hofer said $1.2 million is a fairly standard amount to be doled out on the first distribution date. Nearly 500 checks were issued Thursday, and more will be written weekly throughout the semester as more students continue to complete the financial aid process and be awarded scholarships.
The school's largest scholarship, Hofer said, is the full-ride Build Dakota scholarship.
"If a student has that, that covers their expenses, and then if they have any additional scholarships on top of that, then they would get that money refunded to them, and then that helps with their living expenses and things like that that go along with their educational costs," Hofer said.