Grants
The Federal Pell Grant Program is a grant program funded by the federal government. The Student Aid Reports (SARs) from the processing center tell the MTI Financial Aid Office whether or not you qualify for this grant and, if so, for how much. Award amounts are prorated based upon need calculation from the FAFSA information and enrollment status.
The Federal Supplemental Educational Opportunity Grant Program
This is also a grant program funded by the federal government. Students who receive Pell Grants have priority for receiving this grant. Funding for this program is limited. Please apply early.
Work Opportunities
The federal government funds the Federal Work Study Program. The Financial Aid Office determines eligibility. If you qualify and funds are available, you are allotted an amount of money that you can earn during the academic year. Limited summer jobs during non-enrollment periods are also available. Contact the Financial Aid Office for details. Off-campus employment opportunities are also available. See the Career Services Office or the South Dakota Department of Labor for listings.
Loans
Student loans are financial aid that must be repaid in the future. All types of loans are disbursed by the semester.
Repayments begin typically six months after you leave MTI.
The Federal Direct Student Loan Program
This low-interest loan program allows dependent students to borrow up to $5,500 for their first year and $6,500 for their second year. Independent students may borrow up to $9,500 for their first year and $10,500 for their second year. This program is either subsidized or unsubsidized. If the loan is subsidized, the interest does not accrue while the student is attending MTI. If the loan is unsubsidized, interest is charged from the time the loan is disbursed. Your award letter will indicate the type of loan for which you qualify.
Federal Direct Parent Loans (PLUS)
This program provides an opportunity for parents of dependent students to borrow funds for their student’s educational costs. The Financial Aid Office processes applications. The funds come from the U.S. Department of Education. Loan amounts may not exceed educational costs minus other financial aid.
Other Off-Campus Agency and Financial Aid Sources
Temporary Assistance for Needy Families (TANF)
If you are in this program, check with your TANF coordinator to see what assistance you may receive to attend MTI.
Bureau of Indian Affairs (BIA)
If you qualify for BIA funds, you should start by contacting your local BIA Agency. Paperwork completed early will ensure timely arrival of your funding.
Vocational Rehabilitation
Financial aid is available for persons with disabilities. Contact your local vocational-rehabilitation office.
Veteran’s Benefits
Contact the Veteran’s Center at (888) 442-4551 or the Financial Aid Office at MTI to request information about the programs for which you may qualify. Veteran’s Affairs website: www.benefits.va.gov/gibill.
National Guard Benefits
Members of the National Guard may qualify for up to 100% tuition benefits and monthly stipends under the Chapter 1606 program, Federal Tuition Assistance Program, and State Tuition Assistance. Contact your commanding officer, Financial Aid, or the Business Office for more information. Please note that the application and approval need to be done prior to the first day of classes.
Workforce Investment Act (WIA)
A program funded by the South Dakota Department of Labor and Regulations. Economically disadvantaged students may qualify for grants in certain educational programs. Contact your local DOL office for details.
Scholarships
The MTI Foundation offers a variety of scholarships to students who meet qualifications. Information regarding application deadlines is published periodically and distributed to students. See the Financial Aid Office or the MTI Foundation Office for more details. MTI also accepts any scholarships from outside sources. If receiving any scholarships from outside sources, you must notify the Financial Aid Office.