Financing options

Paying for college can be challenging, but you’ll be happy to know you have a wide range of financing options that can make the process easier and more affordable.

Financial aid

Financial aid has four basic types: scholarships, grants, work-study jobs and student loans. Many students employ a combination of the four to cover the cost of college. Our financial aid experts can help you create a plan that saves you money now and ultimately reduces your student debt.

Scholarships

Scholarships are awesome because you are not required to pay back the money. Many scholarships are available to students with special interests and backgrounds. Visit Scholarships to view a list of scholarships offered by the Inver Hills Foundation. You can also find broader scholarship information and resources through Minnesota State CAREERwise Education. Talk to an Inver Hills counselor or advisor to find out what scholarships might work for you.

Grants

Minnesota State Grant

State Grants help students from low-income and moderate-income families pay for educational expenses at eligible Minnesota colleges or universities—and that includes Inver Hills. The maximum award for 2016–2017 at a public two-year college is just under $7,350; the average award is just under $1,860. Again, awesome: you don’t have to pay back the money. Visit Minnesota State Grant to learn more.

Federal grants

A variety of federal grants are offered by the U.S. Department of Education to students attending four-year colleges or universities, community colleges, and career schools.

Here are three types of federal grants that might work for you:

• Federal Pell Grants
• Federal Supplemental Educational Opportunity Grants (FSEOG)
• Iraq and Afghanistan Service Grants

Visit Federal Student Aid to learn more.

Work-study

Work-study programs give you the opportunity to work on campus or at approved off-campus employer locations to earn money to pay for college. Work-study jobs usually have flexible hours, allowing you to accommodate your class and personal schedules. You can often select a work-study job that aligns with your academic and career goals, allowing you to earn while you learn.

Student loans

You may be eligible for student loans from federal or state sources. Student loans must be paid back, but they typically have a lower interest rate than other kinds of loans.

Here are three types of student loans that might work for you:

• Federal Stafford Loan
• Federal PLUS Loan
• Minnesota SELF Loan

Visit Types of Aid on the Inver Hills website for a full list of your financial aid options. You can also visit Minnesota Office of Higher Education: Paying for College for comprehensive guidance and information.

Other opportunities

TuitionMatch-MN

You can use TuitionMatch-MN funds for college tuition and additional costs required for obtaining a postsecondary degree. As an eligible TuitionMatch-MN participant, you may save up to $960 and deposit the full $960 of earned income when you open your savings account; or you can make monthly installments over the course of two years. This initial investment will be matched 3:1 (1.5 by AFI funds and 1.5 from each partnering college) for a total of $3,840. Visit TuitionMatch-MN to learn more.

Travelers Foundation

Since 2006, Travelers has provided more than $470,000 in grants to support unique and holistic programs to enhance the academic and professional experience for underrepresented students at Inver Hills Community College. Here are three Inver Hills programs funded by the Travelers Foundation:

• Empowering Dreams for Graduation and Employment (EDGE)
• CareerWays
• Inver Experience

Visit Travelers Foundation Programs to learn more.

Veterans Benefits

To qualify for veterans benefits, you need to first apply for admission to Inver Hills.

Some quick notes for veterans:

• Indicate your military service in your application.
• Submit transcripts from all prior colleges as well as your military transcript.
• Veterans On-Line Application (VONAPP): Pursuing the same program? You may change your place of training by filling out this online form.
• VA Form 22-1995: Request for Change of Program or Place of Training.
• See Current Student Veterans for information on continuing your VA benefits at Inver Hills.

To learn more, visit Veteran Services or contact Sue Flannigan, veteran services coordinator, at 651-450-3862.

Applying for financial aid

FAFSA

Apply for financial aid using the FAFSA, or Free Application for Federal Student Aid. You need to fill out a FAFSA to be considered for federal aid, state aid and Inver Hills scholarships. Your FAFSA will take at least five weeks to process—so plan ahead.

To learn more, visit Apply for Financial Aid.

Ready to go? START YOUR FAFSA

Payment options

School will be starting before you know it. If you haven’t made arrangements to pay for your college education, don’t worry because we are here to help. You have several ways to hold your spot in class and keep your future on track.

You can pay your tuition in full, but paying $300 down or 15 percent of your total tuition bill, whichever is less, is enough to make sure you are enrolled in your classes for the coming semester.

Paying your tuition

• Online via E-Services
  • Follow prompts to your student account.
  • You can pay by eCheck, debit card or credit card.
• In person at the Enrollment Center in the College Center
  • You can pay by check, cash, debit card or credit card.
• By mail
  • Write your student I.D. number on your check.
  • If your name is not printed on the check or the name printed on the check is not your name, please write your name and student I.D. number in the memo area to ensure your tuition account will be properly credited.
  • Here’s the address:
    Enrollment Center
    Inver Hills Community College
    2500 80th Street East
    Inver Grove Heights, MN 55076

We want to make paying for college as affordable and stress-free as possible. To learn more, visit Business Office: Paying Tuition, or contact the Enrollment Center at 651-450-3503.

Submit your FAFSA online

• See above for details or visit Apply for Financial Aid to learn more.
• Applying for financial aid will hold your registration and defer payment until financial aid funds are disbursed.

FACTS Payment Plan

Inver Hills participates in a payment plan that allows you to make monthly payments for tuition, fees and books. Through an agreement with FACTS Tuition Management Company, these payments will be automatically processed each month through the responsible party’s bank account.

This is not a loan; you will not be charged an interest or finance fee. The only fee to budget payments through FACTS is a nonrefundable enrollment fee of $24 per semester.

The application process is quick and easy. You can sign up for FACTS through E-Services. To learn more, visit Business Office: Paying Tuition, or contact the Enrollment Center at 651-450-3503.

Third party and private scholarship funds

If your tuition is paid, either partially or in full, by an outside source, you must complete a third party billing form. The Business Office will bill the outside sources directly if all necessary information is provided.

Depending on the source of your funding, you may need to fulfill different requirements. Examples of outside sources include:

• Employers and businesses
• Nonprofit agencies, foundations and other scholarship providers
• Government agencies (city, county, state, federal)
• Military
• International governments or agencies

Third Party Billing Print & Fax Form