Your Financial Aid Resources
Rasmussen College provides support resources to assist you in determining a financial aid solution that allows you to earn the degree you desire to help you achieve the career you want.
We award grants, tuition discounts, and other financial assistance to our students through:
- Fast-track tuition
- Military discounts
- Corporate discounts
- Federal and state grants (aid that does not have to be repaid)
- Federal and state loans (must be repaid)
- Federal and state student employment
To learn more about financial aid options available to you, complete the form on the right, and we will contact you shortly.
How to Apply for Student Financial Assistance
We use the FAFSA (Free Application for Federal Student Aid), available online at fafsa.ed.gov, to determine your financial aid eligibility.
- Before you apply
- Steps to Apply
- After You Apply
- School codes
Before you Apply
Apply for your Federal Student Aid (FSA) ID
In order to complete the online Free Application for Federal Student Aid (FAFSA), you (and your parents, if you are dependent) need to have your FSA ID. Your FSA ID will serve as your electronic signature on the FAFSA.
What You Can Do With Your FSA ID:
- Sign your FAFSA electronically
- Review and, if needed, correct answers on your processed FAFSA
- View information about your federal grants and loans
- Reapply for financial aid in the future
- Access other U.S. Department of Education websites.
Items You’ll Need To Complete the FAFSA:
- Your social security number and legal name as it appears on your Social Security card
- Your driver’s license number, if you have one
- Your W-2 Forms from the last 2 years
- Your federal income tax return from the last 2 years (1040, 1040A or 1040EZ)
- Your current bank statements and records of stocks, bonds, and other investments
- Your records of other untaxed income received, such as Social Security, Temporary Aid to Needy Families (TANF), welfare or veteran’s benefits
- Your business or farm records, if applicable
- Your alien registration number, if you are not a U.S. citizen
Dependent students will also need:
- Social Security number(s) and legal names of your parent(s)
- Income and financial records (as listed above) for your parent(s)
For additional assistance, please review these application resources:
- 2018-19 FAFSA Checklist: Provides information and forms students and parents will want to have on-hand to help simplify the process of filling out the FAFSA.
- List of Most Common FAFSA Errors: A listing of common mistakes that could delay your application.
- Federal Student Aid on YouTube. Students can get instructional videos assistance with the FSA ID, completing the FAFSA, finding their dependency status, different types of aid overviews, and responsible student loan borrowing.
Steps in Applying
The Free Application for Federal Student Aid (FAFSA) is the required application for federal and/or state financial aid and is available at fafsa.ed.gov. The application is free and can be sent to multiple schools. The FAFSA must be recompleted each year.
Step 1: Log in with your Federal Student Aid (FSA) ID
You’ll need your FSA ID to log in. If you don’t already have one, apply now at fsaid.ed.gov. The FAFSA website will remember you, can access any previous FAFSA applications you have, and allow you to view results of processed applications.
Step 2: Select and Complete the FAFSA Online
Complete the FAFSA for the year(s) that you plan to attend Rasmussen. Each FAFSA application applies to an award year from July 1st to June 30th. It is important that you complete the correct year’s FAFSA for the year you are requesting financial aid. For example:
- The 2017-18 FAFSA is for enrollment between July 1st, 2017 to June 30th, 2018.
- The 2018-19 FAFSA is for enrollment between July 1st, 2018 to June 30th, 2019.
We recommend that if you are starting school after January 1st, complete both available FAFSA applications as soon as possible to avoid delays in processing.
Your name and social security number must be reported on the FAFSA just like they appear on your Social Security card or it will cause delays.
Step 3: Use the IRS Data Retrieval Tool (IRS DRT)
This allows you (and parents, if required) to transfer your federal tax data directly from the IRS to your FAFSA. If you are unable to use DRT, you should request a copy of your Federal Tax Transcript in case you are selected for verification. If you will not file a federal tax return, keep a copy of your W2s from all jobs worked.
Each Rasmussen College campus has a specific “school code” to identify where to send the results of the FAFSA, once processed. See the SCHOOL CODES tab above for details.
Step 4: Ask for help when needed
Because there is plenty of FREE help available, you don’t have to pay to get assistance filling out your FAFSA. The "NEED HELP WITH THIS PAGE?" button at the bottom of every online FAFSA page will help you complete that page. The HELP button at the top of every screen has a complete index of help topics. In addition, you can chat with a customer service representative directly over the Internet by clicking the CHAT button. If you still need more help, call 1-800-4-FED-AID.
Step 5: Submit the FAFSA
Once completed, make sure to hit Sign and Submit. Once submitted, you will receive an email with the confirmation page letting you know that your FAFSA was submitted. Approximately 3-5 business days later, a second email will be sent letting you know that your FAFSA results are ready for your review via the Student Aid Report (SAR). The next business day, the schools listed on your FAFSA will receive your FAFSA results.
After You Apply
Submit All Documents Requested to Rasmussen College
Once Rasmussen 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.
Complete Loan Entrance Counseling and your 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).
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.
- 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 needed, 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. Click My Financial Aid, then Financial Aid Awards. Your award letter will tell you what types of funds you are eligible for, the amounts and whether the award is approved or estimated. For more information on the awards you have been offered, click “Need Help Understanding Your Award Letter” in My Financial Aid.
Other Things to know:
- 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
- Rasmussen College begins disbursing financial aid no earlier than 8 class days after courses begin once all required documents have been provided and you have been awarded. 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 Account Center.
Please choose the corresponding code based on the campus list below:
Rasmussen Online: 008501
Bachelor Completer: 008501
Brooklyn Park/Maple Grove: E01193
Lake Elmo/Woodbury: E01264
St. Cloud: 008694
Mokena/Tinley Park: E01865
Fort Myers: E01494
Land O' Lakes/East Pasco: E02004
New Port Richey/West Pasco: E00933
Kansas City/Overland Park: E02166
Green Bay: E01295
Financial aid disbursements and other school refunds are delivered to students through a partnership between Rasmussen College and BankMobile. Read more about funds distribution.