Applying for Financial Aid

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 Form Information

1. Go to studentaid.ed.gov, and create an FSA ID
2. Gather required documents (select the School Codes tab for Rasmussen University 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 2021–2022 "FAFSA: Tutorial" video.

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

Aid application timeline:

• We encourage students to submit the FAFSA as soon as they are thinking about attending the University.
• The aid application process takes approximately six to eight weeks, as long as students submit requested documents timely and accurately.
• The federal deadline for filing the FAFSA is June 30 of the award year. However, the University must receive the valid results of the FAFSA application while the student is still enrolled.

After Applying for Aid

Submit All Requested Documents to Rasmussen University

Once Rasmussen University 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 University'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

We also encourage you to complete the Student Loan Acknowledgement at studentaid.gov, which highlights for you your current federal loan indebtedness (if any), aggregate loan limits and repayment plans.

Receiving Your Financial Aid Award Notification

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

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 Notification are ready for your review.
• To view the estimated Financial Aid Cost of Attendance, click here.

Once available, your awards and Award Notification 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 University 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 University 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 to you, the student. 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 several types of loans to students 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 processes.

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 a dependent or undergraduate child or by a graduate student. Refer to your college catalog for loan limits.

Code of Conduct

Members of Rasmussen University'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

Private/Alternative Loans

When federal loans and other aid do not cover your cost of attendance, private or alternative educational loans may be available. Private educational loan programs are credit based and vary by lender. Because private loans are regulated by banks rather than the government, borrower benefits may vary, and students may be required to have a cosigner as part of the loan application. Terms and conditions applicable to these loans vary greatly. Factors such as interest rate, APR, length of repayment, loan minimum and maximum, and fees should be carefully considered when researching and choosing a private educational loan. If you have borrowed a private loan previously, we recommend keeping your loans with one lender. Rasmussen offers online private loan comparison tools, Credible and FastChoice. Click on either of the links below to compare lenders, and select the one that is best for you.

Compare Private Loan Rates with Credible

Compare Private Loan Rates with FastChoice

Rasmussen University does not endorse, recommend or promote any lender for private loans. The listings shown on Credible and FastChoice are not preferred lender lists, nor do they represent every lender that provides private educational loans. For residents of Minnesota, you may also want to review the terms and conditions of the MN SELF Loan (www.selfloan.state.mn.us) before selecting a lender.

Employer Benefits

If your employer has an alliance with Rasmussen University, you can save substantially on a Rasmussen University degree or Certificate program. Even better, your family members may also qualify.

Corporate Grant

Eligible students employed by a company that has an alliance with Rasmussen University could save up to 20% on tuition with our Corporate Grant.17 Visit our Employer Benefits page to find participating employers.

Family Grant

If your employer has an alliance with Rasmussen University, your access to the Corporate Grant may be available to immediate family members as well.18 Learn more about our Family Grant.

Start Strong Tuition Savings

Students who enroll through an employer alliance may be eligible to save up to an additional $6,000 on program tuition and fees through Start Strong Tuition Savings.15 Learn more about Start Strong Tuition Savings.

Professional Achievement Grant

Depending on your employer’s benefits program, you may be eligible for savings up to 100% with the Professional Achievement Grant.19 Visit our Employer Benefits page to find participating employers.

Military Benefits

To help honor military service, we’ve designed programs to enhance skills you already have and teach new skills you need, while also supporting you with tuition discounts and GI Bill^® education benefits. Learn more about military benefits.

Through our 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.10Rasmussen University also extends the grant to eligible spouses and dependents of active duty military, retired military and veterans.11 Learn more about our Military Grant.

Rasmussen University & Federal Grants

At Rasmussen University, 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 several types of grants to students who qualify. These grants are one resource to help you finance your higher education. View all necessary eligibility requirements and terms and conditions.

Federal Pell Grant Program

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

Federal Supplemental Educational Opportunity Grant

This grant is awarded by an institution based on a student’s financial need. Notification is made by the University regarding eligibility. Refer to your college catalog for possible amounts per year.

Alumni Achievement Grant

Rasmussen alumni who are currently licensed registered nurses (RNs) can save up to $9,245 on their RN to BSN. Visit our Alumni Achievement Grant page to learn more.

RN to BSN Get Started Grant

Currently licensed registered nurses (RNs) can save up to $8,445 in tuition and fees with our RN to BSN Get Started Grant. With this grant, tuition for your first course and up to five Flex Choice^® Credit by Assessments are offered at no cost to you. Visit our RN to BSN Get Started Grant page to learn more.

Fast-Track Grant

Students taking 16 or more credits shall only be charged for 16 credits.12For 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.12See course catalog for textbook opt-out policy.

Other Grant Options

University 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 an admissions advisor for more information. Visit our State Grant Programs website to learn more.

Rasmussen University 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 University. This is an opportunity to pay their experiences forward by nominating someone in their life to receive up to $500 on their education at the University. Visit Change A Life Scholarship to learn more and view terms and conditions.

Imagine America High School Scholarship

The Imagine America Scholarship was created for 2021 High School graduates interested in attending Rasmussen University exclusively in Illinois and Florida. 2021 High School graduates can apply to receive up to $1000 scholarship towards their education. Click here to visit the Imagine America Scholarship to learn more and view terms and conditions.

• Rasmussen will grant up to one $1000 scholarship per campus in the state of Illinois and Florida in 2021.
• Rasmussen University will grant up to nine scholarships in total.
• Four will be awarded in the state of Illinois.
• Five will be awarded in the state of Florida.
• For more details on qualifications, please visit www.imagine-america.org/students/scholarships-education/highschoolscholarships/qualifications/.
• Once a student applies and qualifies, each Illinois and Florida local campus scholarship will be awarded on a first-come, first-serve basis.

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 University 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 University 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 credit by assessment 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.

Flex Choice Credit by Assessment

With Flex Choice, you can get credit for what you already know. These 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.

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

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 meet(s) 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 University 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.

North Dakota Career Builders Scholarship 

The North Dakota Career Builders Scholarship program was created to attract students into high-need or emerging occupations in the state of North Dakota. It is a unique partnership in which the state will contribute a dollar of public funding for each dollar of private support received. Recipients of the scholarship have the obligation to work in a high-need or emerging occupation in North Dakota while also residing in the state for at least three years following the completion of their program.

For more information, please contact an admissions advisor, or visit the ND Career Builders Scholarship website.

Funds Distribution

Rasmussen University 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 University 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 University 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 to you, the student. 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
Central Pasco (New Port Richey): 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 University.

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 University and Financial Aid if you withdraw after the term begins.
• request a reduction or cancellation of your student loans. 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 University 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 University 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 University 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 University.
• show Satisfactory Academic Progress according to established policies and standards of Rasmussen University.
• notify us in writing/email if you are receiving financial aid for attendance at another institution while attending Rasmussen University.
• 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.