FAFSA

To apply for federal student aid, such as federal grants, work-study and loans, you need to complete the Free Application for Federal Student Aid (FAFSA). Completing and submitting the FAFSA is free and easier than ever, and it gives you access to the largest source of financial aid to pay for college or career school. In addition, many states and colleges use your FAFSA information to determine your eligibility for state and school aid, and some private financial aid providers may use your FAFSA information to determine whether you qualify for their aid.

FAFSA Application Information

1. Go to studentaid.ed.gov and create an FSA ID
2. Gather required documents (Select the School Codes tab for Rasmussen College codes)
3. Fill in personal information
4. Fill in tax information using IRS Data Retrieval Tool
5. Save your FAFSA application
6. Sign and submit the FAFSA

For more information about available funding, contact an admissions advisor.

Get started on your application by watching our 2020-2021 FAFA: Tutorial video.

Learn more about how to apply for financial aid with our FAFSA: Creating an FSA ID video.

After Your FAFSA Application

Submit All Requested Documents to Rasmussen College

Once Rasmussen College has received the results of your FAFSA, we will notify you, via email, of any required documents that you will need to submit. You will be able to review the documents needed at any time in the Account Center on the Student Portal.

Rasmussen College’s Student Financial Aid team is not able to review your application for financial aid until all necessary documentation has been received. It is your responsibility to complete your financial aid application file, so take a proactive approach to make sure that you have done all that you need to do. If you have not submitted all requested financial aid eligibility documentation by the beginning of the fifth (5th) week of the quarter, a payment plan will be created for the full balance owed. You still have the opportunity to submit all requested financial aid eligibility documents to have your aid eligibility determined; however, the payment plan will remain active until such time as the balance is paid in full.

Loan Entrance Counseling and Master Promissory Note

If you are interested in receiving Federal Direct Loans, you’ll need to complete both Loan Entrance Counseling and a Master Promissory Note (MPN).

• Entrance Counseling
• Master Promissory Note (MPN) for a Subsidized/Unsubsidized loan

Receiving Your Financial Aid Award Letter

When your financial aid file is complete (i.e. all documents requested have been submitted), it will be reviewed by Rasmussen College.

If we need additional information:

• A request for that information will be emailed to you and you can view the request in the Document Center within the Account Center

If we have everything we need:

• We will prepare your award package and notify you via email when your awards and Award Letter are ready for your review

Once available, your awards and Award Letter can be viewed in the Account Center.

Account Center

The Account Center within the Student Portal is your go-to place for:

• Viewing your charges, payments, and payment schedule in My Finances
• Viewing and uploading required documents in My Documents
• Viewing financial aid awards in My Financial Aid
• Viewing alerts and messages in My Message Center

Disbursing Financial Aid

A student must be officially accepted to Rasmussen College in an eligible degree or certificate program as one of the eligibility requirements to receive and have financial aid disbursed to their student account. Rasmussen College begins disbursing financial aid no earlier than three weeks into the term. Funds are first applied to your tuition and fee charges. Any remaining funds (excess funds) are disbursed according to your Credit Balance Directive. Your student account will show an unpaid balance until this disbursement occurs. If the aid you are eligible to receive does not cover your charges, a Student Payment Plan is created and can be viewed on the Student Account Center.

Loans

The United States federal government offers college students several types of loans to those who qualify. These loans are one resource to help you finance your higher education. View all necessary eligibility requirements and terms and conditions.

Repaying your student loan debt is an important financial obligation, but we're here to help you manage your student loans. Our financial support resources help to inform our current and former students about debt management options and help them through their repayment process.

Federal Direct Subsidized Loans

These loans do not accrue interest while you are attending school at least half-time. Refer to your college catalog for loan limits.

Federal Direct Unsubsidized Loans

These loans accrue interest at a low rate while you are attending school at least part-time. Refer to your college catalog for loan limits.

Federal Direct PLUS Loans

These loans are borrowed by a parent for his or her dependent, undergraduate son or daughter and by graduate students. Refer to your college catalog for loan limits.

Code of Conduct

Members of Rasmussen College's financial aid team are required to exemplify the highest level of ethical behavior and demonstrate the highest level of professionalism.

Review our Code of Conduct

Rasmussen College & Federal Grants

At Rasmussen College, we work to support the goals of our students. Grants give potential students the opportunity to pursue practical and affordable higher education. The United States federal government offers college students several types of grants to those who qualify. These grants are one resource to help you finance your higher education. View all necessary eligibility requirements and terms and conditions.

Fast-Track Grant

Students taking 16 or more credits shall only be charged for 16 credits.12 For every course taken beyond four courses, students will only be assessed a $175 course resource and technology fee and a $15 fee per textbook for each course.12 See course catalog for textbook opt-out policy.

Military Grant

Active duty military receive reduced tuition of $167 per credit.13 National Guard, Reserve, retired military and veterans enrolling in a degree, Diploma or Certificate program are eligible for a 10% tuition grant.10 Rasmussen College also extends the grant to eligible spouses and dependents of active duty military, retired military and veterans.11

Corporate Grant

Full-time and part-time students employed by a Rasmussen College corporate partner, or any dependents/spouses who work for a corporate partner, are eligible for a 10% tuition grant.10

Future Nurses of Florida Grant

With a projected national nursing shortage on the horizon, now is the time to step forward and pursue a career as a registered nurse (RN). By enrolling in the Bachelor of Science in Nursing (BSN) program, you qualify to save $5,000 on program costs for your BSN degree. Visit the Future Nurses of Florida Grant page to learn more.

Future Nurses of Wisconsin Grant

Rasmussen College is committed to helping address the shortage of nurses around the nation. By enrolling at Rasmussen College School of Nursing, you qualify to save up to $4,600 on tuition costs for your Professional Nursing degree. Visit the Future Nurses of Wisconsin Grant page to learn more.

Federal Supplemental Educational Opportunity Grant

This grant is based on financial need awarded by the institution. Notification is made by the College regarding eligibility. Refer to your college catalog for possible amounts per year.

Federal Pell Grant Program

This grant is based on financial need of the applicant. Refer to the college catalog for possible amounts per year.

Other Grant Options

College funding is available at the state level and varies by state. Grant funding is awarded based on your qualifications as determined by filing the FAFSA. Please contact a program manager for more information.

Rasmussen College Scholarships

Scholarships can help minimize student loan debt, making college even more affordable.

Change A Life Scholarship

The Change a Life Scholarship was created exclusively for new incoming students at Rasmussen College. This is an opportunity to pay their experience forward by nominating someone in their life to receive up to $1,000 on their education at the College.

Visit Change A Life Scholarship to learn more and view terms and conditions.

Transfer Credits

If you’re ready to advance your education and have related previous coursework, you may qualify to transfer your credits into your desired degree.

Rasmussen College Transfer Policy

We define a transfer student as anyone who’s previously earned college credit from an accredited two- or four-year college/university after graduating from high school. A student enrolling at Rasmussen College with college credit earned while attending high school is not considered a transfer student, but rather a new, incoming student.

To learn more about transfer credits and view our full transfer policy, visit our Transfer Policy page.

Flex Choice®

Offering many ways to learn means there are many ways to save. Choose how you learn best through your blend of traditional courses with competency-based education (CBE), online self-directed assessments or credits for prior learning.

Flex Choice Credit for Prior Learning

Maximize your credits and reduce overall costs by bringing in previous college courses, military transcripts and other college equivalents such as course waivers and industry certifications. Learn more about credits for prior learning on our Transfer Policy page.

To learn more Flex Choice learning options, visit our Flex Choice page.

Flex Choice Self-Directed Assessments

With Flex Choice, you can get credit for what you already know. These self-directed, interactive assessments are taken independently. If you prefer, you can get one-on-one guidance from an academic coach beforehand, and support materials are also provided to help you brush up. At $99 per assessment, you’ll save money and time.

Flex Choice Competency-Based Education

Some Flex Choice programs allow you to combine traditional courses with competency-based education, or CBE. With CBE, you can get credit for skills you may already have and gain the skills you need at your individual pace. Focus on project-based coursework and gain experience in real-world scenarios. In a subscription-based CBE program, you can save money by completing as many courses as you can within your designated term. In a standard CBE program, the cost of competency-based education coursework is the same as traditional coursework.

Other Ways to Save

Furthering your education is possible. There are many ways to save on your program costs, including options that may be available through your current or future work situation.

Tuition Reimbursement

Many employers offer some level of tuition reimbursement to their employees. Whether your employer offers full or partial reimbursement, this valuable benefit can help you save money and reduce your student debt while you earn your degree. Check out the following tips to see how you can make the most of tuition reimbursement opportunities through your employer:

1. Talk to HR about tuition options through your employer, which may include:

• Partnerships: your company may partner with a specific college that offers discounts.
• Direct Pay Tuition Assistance: there may be eligibility requirements, but this option means your employer pays for whichever college you attend.
• Tuition Reimbursement: you the student pay for college, but are reimbursed afterward by your company.

2. Choose courses or a program that meets requirements set by your employer. However, they may require that your degree is applicable to your job.

3. Let your employer know the benefits of the program, including what you will gain and how this will help your position in the company. Furthermore, you should prepare responses to address any concerns your employer may have. (i.e., How will you balance school and work? How do you plan on using these acquired skills?).

4. Meet with your employer to go over the benefits that both you and the company would receive in furthering your education.

Work-Study

We have a wide range of work-study opportunities for current students at our campuses, online and with our community service partners. This is a great way for current students to gain experience and earn money while taking courses. For information on open positions, the application process and the hiring process, see the Work Study Program Guide. View all necessary eligibility requirements and terms and conditions.

Learn more about federal work-study student basics by watching our "A Minute to Learn It – 6 Good Things You Need to Know about Federal Work-Study" video.

Outside Scholarships

Rasmussen College encourages our students to search for other scholarship funding opportunities, referred to as "outside scholarships." Fastweb and Scholarship Search are both reputable scholarship search engines that can match you to relevant scholarships free of charge. Use both to find scholarships you may be eligible for. 

To learn more about scholarships and requested documentation, watch our "What is a scholarship?" video.

Funds Distribution

Rasmussen College has partnered with BankMobile to deliver your financial aid refund. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/refundchoices/. You can also view our institution’s contract with BankMobile, a Division of Customers Bank. A student must be officially accepted to Rasmussen College in an eligible degree or certificate program as one of the eligibility requirements to receive and have financial aid disbursed to their student account. Rasmussen College begins disbursing financial aid no earlier than three weeks into the term. Funds are first applied to your tuition and fee charges. Any remaining funds (excess funds) are disbursed according to your Credit Balance Directive. Your student account will show an unpaid balance until this disbursement occurs. If the aid you are eligible to receive does not cover your charges, a Student Payment Plan is created and can be viewed on the Student Account Center.

Learn more about funds distribution.

School Codes

Find the corresponding code based on the campus list below:

Online
Rasmussen Online: 008501
Bachelor Completer: 008501

Graduate
Graduate Studies: 008694

Florida
Fort Myers: E01494
Land O' Lakes/East Pasco: E02004
New Port Richey/West Pasco: E00933
Ocala: 008501
Orlando: 008501
Tampa/Brandon: E01929

Illinois
Aurora/Naperville: E01510
Mokena/Tinley Park: E01865
Rockford: E01244
Romeoville/Joliet: E01649

Kansas
Kansas City/Overland Park: E02166
Topeka: E02167

Minnesota
Blaine: E01864
Bloomington: 011686
Brooklyn Park/Maple Grove: E01193
Eagan: 004648
Lake Elmo/Woodbury: E01264
Mankato: 016845
Moorhead: E01382
St. Cloud: 008694

North Dakota
Fargo: 004846

Wisconsin
Green Bay: E01295
Wausau: E01851

Student Rights & Responsibilities as a Financial Aid Recipient

It's important to know your rights and responsibilities as they relate to applying for and receiving financial aid from Rasmussen College.

Your Rights. You have the right to...

• privacy. All records and information submitted with your application for financial aid are confidential and subject to legal requirements concerning disclosure of such information.
• know about the refund policies for both Rasmussen College and Financial Aid if you withdraw after the term begins.
• request a reduction or cancellation of your student loan. Remember that a student loan is a debt that must be repaid; borrow only what you need.
• know specific consumer information.
• know what financial aid programs are available to you, including information on all federal, state and college financial aid programs.
• know the application procedures and deadlines for each of the available programs.
• know how financial aid is distributed and the basis for these decisions.
• know how and when financial aid is disbursed.
• know how your financial aid eligibility was determined. This includes how costs for tuition and fees, room and board, books and supplies, travel, and personal and miscellaneous expenses were determined in your estimated cost of attendance. It also includes what resources were considered in the calculation of your financial aid eligibility (such as estimated family contribution and other financial aid or personal assets).
• know the interest rate of your loan, the total amount to be repaid, repayment procedures, when repayment begins, and the length of the repayment period.
• know how Rasmussen College determines whether you are making satisfactory academic progress, and what happens if you are not.

Your Responsibilities. You must...

• regularly check your student email account for information from Rasmussen College and Financial Aid.
• keep your parents or guardians informed of all financial aid requirements and deadlines (if you are a dependent student).
• reapply for financial aid each award year.
• complete all application forms and supporting documents accurately and submit them on time via the student portal.
• read and understand all forms you are asked to sign. You are also responsible for knowing the financial aid reapplication deadlines.
• provide correct information at all times. Reporting false information is a violation of the law and may be considered a criminal offense.
• submit, by the deadline indicated, all additional documentation, verification, corrections and/or new information requested by either the Financial Aid Office or the agencies to which you submitted applications. Some examples include: federal tax return transcripts, verification forms, loan entrance counseling, loan promissory notes, and loan exit counseling prior to leaving school.
• notify us in writing/email if the information reported on your financial aid applications has changed.
• notify the College and any lenders if there are changes in your name, permanent mailing address, anticipated graduation date, or enrollment status.
• notify us in writing/email if you receive any scholarships or other awards that do not appear on your award letter.
• accept responsibility for all agreements that you sign.
• know and comply with the refund procedures of Rasmussen College.
• show Satisfactory Academic Progress according to established policies and standards of Rasmussen College.
• notify us in writing/email if you are receiving financial aid for attendance at another institution while attending Rasmussen College.
• maintain satisfactory status on student loans. Students who default on their student loans or owe refunds on federal grants are not eligible for any financial aid.