Not sure how to get financial aid for school? To help you get the training you need without racking up huge loan debt, Ranken offers a variety of financial aid and scholarship options.
Financial Aid at Ranken
At Ranken, we believe that providing our students a more affordable education is integral to helping them experience success. To help you get the training you need without racking up huge loan debt, Ranken offers a variety of trade school financial aid and scholarship options.
Not sure how to get financial aid? Ranken is here to help when you’re applying for financial aid. Our counselors are available to talk you through your options and help you find ways to cover all or part of your tuition, books, supplies and tools.
Approximately 80 percent of our students receive some form of financial aid, covering full or partial payment of their college expenses. If you’re concerned that you don’t know how to get financial aid, we’re here to help you every step of the way.
Financial Aid Process
- The first step in applying for financial aid is completing the Free Application for Federal Student Aid (FAFSA). It’s available through the Financial Aid office, or at the official government website. When filling in the FAFSA form, use Ranken’s ID number: 012500.
- Register for classes
- Consult with Financial Aid and Business Offices regarding payment and funding options.
- Submit any additional paperwork required by Financial Aid and Business Offices. This includes awards, letters, payment plans, sponsorship agreements, etc.
- Confirm authorization to start class with the Admissions Office prior to the first day of the term.
Government Aid Programs
As a Ranken student, you could have the option to participate in any of the following federal government programs:
- Federal Pell Grant. For additional information, please visit: https://studentaid.ed.gov/sa/types/grants-scholarships/pell
- Federal Supplemental Education Opportunity Grant
- Federal College Work Study programs
- Federal Direct Loan Programs. For additional information, please visit: https://studentaid.ed.gov/sa/types/loans
To participate in any of these programs as part of your school financial aid package, you must first fill out the FAFSA available online or through Ranken’s Financial Aid office.
The preferred application date for financial aid is before April 15 for the fall semester and before Oct. 15 for the spring semester.
Contact the Financial Aid office at (314) 286-4878 or [email protected] for more information.
Missouri State Aid Programs
Missouri residents may qualify for financial assistance from the state of Missouri. The state of Missouri uses the results of the Free Application for Federal Student Aid (FAFSA) to determine eligibility for state aid. The preferred FAFSA completion deadline to be considered for state aid is February 1; however, the state may consider applications filed through April 1. For additional information regarding state grant/scholarship programs, please visit the Missouri Department of Higher Education web site at:
Part-Time Employment, Scholarships and Loans through Ranken
Approximately 75 percent of Ranken students work at part-time jobs while maintaining satisfactory grades.
Ranken offers a part-time employment service for students who need supplementary income. In addition, we provide students with scholarships recognizing scholastic achievement, attendance, work ethic, grades and financial need.
Ranken also grants some first-semester loans. To be eligible for a loan from Ranken, students must first apply for financial aid by completing the FAFSA, either online or through the Financial Aid office.
Code of Conduct
The Financial Aid Office at Ranken Technical College, in accordance with federal regulations, is committed to the highest standards of professional conduct. We are members of the National Association of Student Financial Aid Administrators (NASFAA) and follow its code of conduct. (http://www.nasfaa.org/mkt/about/Code_of_Conduct.aspx)
- No action will be taken by a financial aid staff that is for their personal benefit or could be perceived to be a conflict of interest.
- Employees within the financial aid office will not award aid to themselves or their immediate family members. Staff will reserve this task to an institutionally designated person, to avoid the appearance of a conflict of interest.
- RTC will not compile a preferred lender list for private loans.
- A borrower’s choice of a lender will not be denied, impeded, or unnecessarily delayed by the institution.
- No amount of cash, gift, or benefit in excess of a de minimis amount shall be accepted by a financial staff member from any financial aid applicant (or his/her family), or from any entity doing business with or seeking to do business with the institution (including service on advisory committees or boards beyond reimbursement for reasonable expenses directly associated with such service).
- Information provided by the financial aid office is accurate, unbiased, and does not reflect preference arising from actual or potential personal gain.
- Institutional award notifications and/or other institutionally provided materials shall include the following:
- A breakdown of individual direct costs designating all potential billable charges.
- Clear identification of each award, indicating type of aid, i.e. gift aid (grant, scholarship), work or loan.
- All required consumer information is displayed in a prominent location on the institutional web site(s) and in any printed materials, easily identified and found, and labeled as “Consumer Information”.
- Financial aid professionals will disclose to their institution any involvement, interest in, or potential conflict of interest with any entity with which the institution has a business relationship.
Entrance & Exit Counseling
Borrowers must repay student loans. Once the student and/or parent PLUS borrower has accepted the loan(s) and the Financial Aid Office has originated the loan(s), the student and/or parent PLUS loan borrower may find their loan information by accessing the National Student Loan Data System (NSLDS). You can access the NSLDS web site here:
Remember to include your loan payment as a fixed monthly expense when developing your budget.
In order to help manage student debts and successfully repay loans, students should:
• Open and read any mail you receive regarding your student loans.
• Keep accurate records
• Stay current with payments
• Write your loan account number on all correspondence and all checks
• Utilize a repayment calculator to better determine monthly payments – sample calculator located here:
All federal student loan borrowers are required by federal regulations to complete an Entrance Counseling session before your Direct Student Loan funds can be applied to your student account. Entrance counseling sessions are conducted in person and are facilitated by a staff member from the Financial Aid Office.
In addition, all student loan borrowers are required by federal regulations to complete an Exit Counseling session after they cease to be enrolled at least half-time. The change in enrollment status may be due to graduation, withdrawal or change in class schedule. Exit counseling sessions are conducted in person (when the borrower is available) and are facilitated by a staff member from the Financial Aid Office. If the student is not available for in-person counseling the Financial Aid Office will mail all appropriate loan information to the student.
Student loan gap financing refers to the financial aid that you still may need to acquire to pay for your tuition. After you’ve exhausted your scholarship opportunities, grants, work studies, and federal student loans, you may still need to borrow from a private loan lender to bridge this ‘gap’ in the financing.