Financial Aid

What Is Financial Aid?

Financial aid is money to help pay for college. Financial aid comes in three main forms:

Aid you don’t repay (grants and scholarships)
Aid you must repay (loans)
Aid you earn (work-study and military assistance)

There are many different types of financial aid available to students. They all are unique and offer distinct benefits to those who qualify. All students considering financial aid should fill out the Free Application for Federal Student Aid (FAFSA), and enter Ridgewater’s college code 005252.

Please review the FAFSA checklist and Dependency Status Sheet to gather the items needed to complete the 2025-2026 FAFSA and to determine if you are a Dependent student for financial aid purposes.

July 1, 2025: Important Updates and Changes

The Minnesota Office of Higher Education (MOHE) is projecting a funding shortfall during this current year and the next academic year. This means some of the state financial aid programs will be impacted.

Important things to know:

Students enrolled in Summer 2025 courses will not receive MN State Grant or MN Dream Act funding.
North Star Promise Plus funding will not be available for summer term or during 2025-2026.
North Star Promise base funding will still be available for summer and during the 2025-2026 academic year. Please see the North Star Promise webpage for additional information.
For the 2025-2026 year, MN Office of Higher Education has set a FAFSA submission deadline of the 30th day of the term. The Fall semester deadline is September 22, 2025. The Spring semester deadline is February 9, 2025. Summer semester deadline is June 23, 2026. This means to be considered for MN State Grant, MN Dream Act, and North Star Promise funding you will need to submit your 2025-26 FAFSA by the semester deadlines.
If you submit your FAFSA after the semester deadline, you will still be considered for Pell Grant and Federal Direct student loans.