What is the difference between need-based and non-need-based loans?
The amount of aid that you are eligible to receive is based on financial need. Financial need is determined by subtracting what the federal government determines you and your parents can afford to pay—your Estimated Family Contribution (EFC) from the University of Minnesota Morris’s Cost of Attendance (COA):
COA – EFC = Financial Need
What is the difference between a full time and part time student?
If you are enrolled for at least six credits, you are considered a half time student. You are eligible to borrow from federal loan programs if you are enrolled for six or more credits. If you are enrolled for 12 or more credits you are considered a full time student. There may be alternative loans available to students who are enrolled for less than half time status.
