Financial Aid

Financial Aid at Ridgewater College

Eligibility for financial aid is determined annually, based on the Free Application for Federal Student Aid (FAFSA). 

Ridgewater's college code for FAFSA is 005252.

Students with financial aid should become familiar with their rights and responsibilities listed at the bottom below.

Living Expenses

Average estimated living expenses may range between $3500 - $4500 for the academic school year.

Parking on campus

All employees and students who park a vehicle in college parking lots are required to purchase and display a current parking permit on their vehicle.


Students will be charged $2.05 per registered credit, up to a maximum of $32.80 per semester. If a student owns and drives more than one vehicle to the campus, upon proof of ownership, additional vehicle permits for use by the student only may be purchased for $1. Vehicles with current "student" permits may be parked in student parking lots.

Parking Regulations (PDF Download)

Structural or procedural changes in the parking lots shall have input from the student senate, faculty and staff.

Other Fees & Special Costs

A student association fee of approximately .31 per credit will be assessed for technical and transfer credits. Some technical programs may have additional tool/book requirements ranging from $250 to $1200. Some programs also charge a lab fee which may range from $30 to $165 per year. Please check with a college counselor for individual program details. - on the Web is the U.S. Department of Education's fast, nearly error-proof online application for federal financial aid. - The U.S. Department of Education's PIN (personal identification number) site. You can request a PIN, find out how to use your PIN or change your PIN on this site. - The Financial Aid Information Page is one of the most comprehensive collections of references and links to sites about financial aid. You don't want to miss this one - The U.S. Department of Education's website explains federal student aid programs and how to apply. - Minnesota Office of Higher Education is a great resource that includes a list of college costs in Minnesota, up-to-date information about higher education in Minnesota and an interactive financial aid estimator. - (Internet System for Education, Employment and Knowledge) was created to promote higher education, training, and career exploration and to facilitate employment searches within the state of Minnesota. - U.S. Department of Veterans Affairs - Click on the Information on Education and Training tab for the different programs available for veterans.​

If your financial situation changes after you have completed the FAFSA, or if you feel the FAFSA does not accurately reflect your current family and/or income circumstances, please contact our office for more information or to set up an appointment with our director.

As a financial aid applicant or recipient, you have the right to expect professional, competent, and timely service from the Financial Aid Office.

However, providing financial assistance to applicants is a joint endeavor. You also have certain responsibilities when applying for and receiving financial assistance.

Rights and Opportunities for Financial Assistance

  • Discuss your personal or family financial matters in a confidential setting.
  • Know that your financial aid awards are based on a calculated financial need and should have every opportunity to visit with a financial aid assistant to determine how an award was made. 
    Know how your aid will be distributed each semester and when and where these disbursements will be made.
  • Be informed of the terms of any work program arrangement before the work award is accepted and work is performed.
  • Be informed of repayment conditions of any loan program before the loan is accepted.
  • Accept, reject or change your financial aid award without any prejudice related to race, creed, color, gender or sexual preference.
  • Know that a financial aid award may be increased, decreased or canceled if there is a change in the conditions used to determine the initial award.
  • Confidentiality. Information in your file will not be released to anyone other than college officials or agencies that provide financial assistance, without written consent from you.

Responsibilities and Obligations of Financial Aid Recipients

  • Contribute toward the cost of your education. You are expected to contribute funds from savings, summer earnings and work during the academic year when possible to help defray the cost of your education.
  • Be accepted or enrolled in a degree program in order to be eligible for financial assistance.
  • Be on time when submitting your financial aid forms and requests for supplemental information, and to keep in touch with the Financial Aid Office.
  • Provide timely, accurate and honest information.
  • Make satisfactory academic progress as defined by Ridgewater College's Satisfactory Academic Progress. You will be expected to complete your courses successfully in order to continue receiving financial aid.
  • Use the allocated funds to pay for education-related expenses and to manage these funds so that incurred expenses are met.
  • Repay your loans according to the terms outlined on the promissory notes. If you default on any loan you will be denied the opportunity to receive additional funds.
  • Apply every year for financial aid to continue receiving funds.

The Financial Aid Office at Ridgewater College is required by law to follow and enforce the established federal and state regulations as they pertain to the financial aid programs. Ridgewater College makes every effort to process applications in the most efficient, timely and equitable manner possible.