Types of Financial Aid

Classroom attendance is required to receive all Federal Aid.

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What is it?
Who is Eligible?
Does it have to be paid back?
Federal Pell Grant

​The Pell Grant is a federally funded program for students with exceptionally high need. Awards are made based off a students Expected Family Contribution (EFC), which is calculated after the FAFSA is completed. Annual full time awards may range from $598-$5815. The Pell Grant is adjusted according to the number of credits enrolled.

​Students who file the FAFSA and show need for financial assistance. The award amount is determined by the Federal Department of Education.

​No. This is gift aid and does not have to be repaid.

Federal Supplemental Educational Opportunity Grant (FSEOG)*

​FSEOG is grant assistance for undergraduate students who are also eligible for the Federal Pell Grant noted above. Annual awards may range from $250 to $500. Students must be enrolled in half-time status at the beginning of Fall and Spring terms.

​Priority is given to students who file the FAFSA and have a "0" Expected Family Contribution. This grant has limited funding and is awarded until depleted.

​No. This is gift aid and does not have to be repaid.

Iowa Vocational Technical Grant (IVT)

​The Iowa Voc. Tech. Grant is for Iowa residents and can range from $500 to $1200. Award amounts are based on the number of credits enrolled.

​Students who show financial need , are in a Vocational Technical program of at least 15 weeks in length, have an EFC of $201-$5300, and whom meet the July 1st deadline. Eligible recipients can be either full-time or part-time. IVT awards are tuition/fee restricted in nature.

​No. This is gift aid and does not have to be repaid.

Iowa Skilled Workforce Shortage Tuition Grant Program (KIBBIE)

​Grant assistance to Iowa residents only. Award amounts are based on the number of credits enrolled. The maximum grant eligible for students enrolled on a full-time basis is $2505. If enrolled full time for summer an additional $1253 may be added.

​Students who show financial need, are in a Kibbie grant shortage program of at least 15 weeks, have an Expected Family Contribution (EFC) of $0-$6000, and whom meet the July 1st deadline. Eligible recipients can be either full-time or part-time. Kibbie grants are tuition/fee restricted.

​No. This is gift aid and does not have to be repaid.

Iowa National Guard Educational Assistance Program (NGEAP)

​NGEAP is a state funded tuition assistance grant for Iowa Air and Army National Guard members attending college.

​Students must be Iowa residents (as established by the Adjutant General), in good standing with their units, and attend an accredited Iowa school. NGEAP pays up to 100% of the tuition costs at their school of choice.

​No. This does not have to be repaid.

Scholarships

​Scholarships are offered by public and private agencies, organizations, colleges, and universities. Recipients are selected based on scholastic aptitude, essay, and financial need. Minimum or maximum awards vary.

​For DMACC Foundation Scholarships, the award is limited to new and returning students with a GPA of 2.00 or higher. Students must be enrolled in at least half-time status. Information on DMACC Scholarships, how to apply, deadlines, and who is eligible can be found on our scholarships website at: Scholarships

​No, this is gift aid and does not need to be paid back.

Federal College Work-Study

​Work-study provides qualified students the opportunity to obtain part-time employment during the academic year. Students must be enrolled at least half-time in order to participate in the federal work-study program.

​Eligibility is determined by the students EFC on the FAFSA. The awarded amount is indicated on the students award letter. Due to the limited amount of Federal funds, and the limited available of work-study positions, not every qualified student will obtain employment. If interested please visit: Workstudy

​No. Students earn their award by working approximately 10-20 hours per week.

Federal Direct Loan (Subsidized)

​Federal Direct Loans are student loans that are funded by the US Department of Education and administered by Des Moines Area Community College. Eligibility is determined by the FAFSA. Students must be enrolled in at least a half-time status.

Federal Subsidized:The interest rate of 3.76% is paid by the government while the student remains enrolled at least half-time.

​Yes, repayment of principal and interest will begin 6 months after graduation, or if a student drops below halftime.

Federal Direct Loan (Unsubsidized)

Federal Direct Loans are student loans that are funded by the US Department of Education and administered by Des Moines Area Community College. Eligibility is determined by the FAFSA. Students must be enrolled in at least a half-time status.

Federal Unsubsidized: The interest rate of 3.76% is NOT paid by the federal government while the student is enrolled.
*** First time borrowers must complete Entrance Counseling and the Master Promissory Note (MPN) via: Student Loans
Annual Limits for freshmen range from $5500 for dependent students and $9500 for Independent students. Sophomores range from $6500 for dependent and $10500 for Independent.

​Yes. Interest is charged from the time the student receives the loan until it is paid in full. Repayment begins 6 months after graduation or after the student drops below half-time.

Alternative Loans

​Alternative loans that are available for additional assistance after Federal Direct Loans are depleted. These loans are not affiliated with the federal student loan program

​View information on Alternative Loans via: Alternative Loans

​Yes. Repayment options available through lender.