Types of Financial Aid
Questions? Contact Us.
DMACC
Financial Aid Office
finaid@dmacc.edu
515-964-6282
Financing your college is important. Let's look at the options available.
Federal and State grants are all gift aid and do not need to be paid back. Classroom attendance is required to receive all Federal aid.
Federal Pell Grant
The Federal Pell Grant is for undergraduates working toward their first bachelor’s degree, and demonstrates exceptionally high need. Pell grant awards are based off a student's Student Aid Index (SAI), which is calculated after the FAFSA is completed. The award amount is determined by the U.S Department of Education. The maximum annual Pell award is $7,395 for 2024-2025 and 2025-2026 academic years. The Pell Grant is adjusted according to the number of credits a student is enrolled during the academic year. More information regarding eligibility can be found at: Federal Student Aid: Federal Pell Grants
Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant is grant assistance awarded to high-need students who also qualify for the Pell Grant. The maximum FSEOG award is $1,000. Students must be enrolled in half-time status at the beginning of fall and spring terms. Priority is given to students who file the FAFSA and have a $-1,500 Student Aid Index calculation. This grant has limited funding and is awarded until depleted. More information regarding eligibility can be found at: Federal Student Aid: FSEOG
Children of Fallen Heroes Scholarship
Beginning with the 2018-19 academic year, a Pell-eligible student whose parent or guardian died in the line of duty while performing as a public safety officer is eligible to receive a maximum Pell Grant for the award year for which the determination is made. The maximum award is $7,395 for the 2024-2025 award year. In order to be eligible, a student must submit the Free Application for Federal Student Aid (FAFSA), have eligibility for the Federal Pell Grant, have a parent or guardian who was a public safety officer killed in the line of duty, and have been less than 24 years of age or enrolled at an institution of higher education at the time of his or her parent or guardian's death. In subsequent award years, the student continues to be eligible for the scholarship (increased Pell Grant), as long at the student has a Pell-eligible Student Aid Index (SAI) calculation and continues to be an eligible student. Students who qualify for the Children of Fallen Heroes Scholarship may also be eligible for increased funding from the Federal Supplemental Education Opportunity Grant program, Subsidized Direct Loan program, and Federal Work-Study. If you feel you meet the eligibility requirements, please contact our office at finaid@dmacc.edu or 515-964-6282.
Iowa Skilled Workforce Shortage Tuition Grant (KIBBIE)
The Kibbie Grant provides need-based financial assistance to Iowa residents enrolled in specific career or technical education programs of at least 15 weeks. Students must complete a FAFSA by the July 1st deadline. Students must have a Student Aid Index (SAI) number from $-1,500 to no greater than $6,000. The award amounts are based on the number of credits a student is enrolled. The KIBBIE grant is $3,000 and dependent on the calculated SAI figure. Eligible recipients can be full-time or part-time. Kibbie grants are tuition/fee restricted.
KIBBIE Grant application (FAFSA) deadline is July 1.
More information regarding eligibility can be found at: Iowa College Aide: Kibbie Grant
Iowa Vocational Technical Tuition Grant (IVT)
Iowa residents that enroll in career or technical education programs at Iowa community colleges may be eligible to receive the IVT grant. IVT grants can range from $200 to $1,200 for the academic year. The amount a student is awarded is based on the Student Aid Index (SAI) and the number of credits in which the student is enrolled. Students must show financial need, be enrolled in a Vocational Technical program of at least 15 weeks in length, have a SAI of $201-$6,800, and meet a July 1st FAFSA application deadline. Eligible recipients can be either full-time or part-time. IVT awards are tuition/fee restricted.
More information regarding eligibility can be found at: Iowa College Aid: Iowa Vocational Technical Tuition Grant
Future Ready Iowa Last-Dollar Scholarship Program
The Iowa Last-Dollar Scholarship covers any tuition and fee gaps not covered by federal and state grants/scholarships for eligible Iowa residents enrolled in targeted, high-demand career and technical programs at DMACC and other Iowa institutions. Students must file a Free Application for Federal Student Aid (FAFSA). For 2024-2025 award year the deadline to file a FAFSA for the Last Dollar Scholarship is March 31. Students must have an eligible Student Aid Index (SAI) at or below $20,000 on the FAFSA and be continually enrolled in a Last-Dollar Scholarship eligible program. If you qualify, you will be notified by the Financial Aid office via your DMACC email. More information regarding eligibility can be found at: Iowa Last-Dollar Scholarship.
Iowa National Guard Service Scholarship
The Iowa National Guard Scholarship is a state funded tuition assistance grant for Iowa Air and Army National Guard members attending college. Students must be Iowa residents (as established by the Adjutant General), in good standing with their units, and attend an accredited Iowa school. The Scholarship pays up to 100% of the tuition costs at their school of choice. This does not have to be repaid. In order to receive the Iowa National Guard Service Scholarship at any school students must also submit a Free Application for Federal Student Aid (FAFSA). The FAFSA priority deadline for the Fall term is July 1st, and for the Spring term the priority deadline is December 1st. More information regarding eligibility can be found at: Iowa College Aid: Iowa National Guard Service Scholarship
Funding for Foster Care Youth/Education and Training Voucher Programs
The Iowa College Student Aid Commission administers the Foster Care Youth Programs. For qualifying applicants, federal funding is available through the Education and Training Voucher (ETV) Program for up to $5,000 per year. Students between the ages of 16-26 who age out of Iowa's foster care system or Subsidized Guardianship program and students who were previously in Iowa foster care and are adopted after age 16 may be eligible for this federal grant program. Students must complete the FAFSA and Iowa College Aid application. More information regarding eligibility can be found at: Iowa College Aid: Education and Training Voucher.
The All Iowa Opportunity Scholarship
The All Iowa Opportunity Scholarship (AIOS) is a state-funded scholarship program for Iowa students who attend an eligible Iowa college/university. The current annual award is $5,198 for students enrolled full-time. Part-time students may receive assistance prorated based on the number of credits enrolled. Priority for awards is given to:
- Students who age out of Iowa’s foster care system, age out of the State Training School, and students adopted from Iowa’s foster care system after age 16;
- Students who participated in certain federal TRIO programs
- Students who graduated from alternative high schools or alternative high school programs
- Students who participated in a Federal GEAR UP Grant program in Iowa
The 2025-2026 All Iowa Opportunity Scholarship Deadline is April 1, 2025. More information regarding eligibility can be found at: Iowa College Aid: All Iowa Opportunity Scholarship
The dollar amounts listed are for 2024-2025.
Student loans are available to students and parents to cover educational expenses. When all other forms of aid have been exhausted, student loans can be a good option. However, it is important to remember that student loans are intended to finance education and not lifestyle. Student loans are real money that must be repaid, with interest, so students should borrow only what they need.
William D. Ford Federal Direct Loan Program
Federal student loans usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. Repayment of the loan begins six months after you graduate from college or stop attending at least half-time. The interest rate for undergraduate students receiving Direct Federal Subsidized or Unsubsidized Loans first disbursed on or after July 1, 2023 and prior to July 1, 2024 is 5.50%. You can view your loan history online at the National Student Loan Data System (NSLDS) website.
To receive a Federal Direct Loan you must:
- Complete the FAFSA and other documents your school request
- Enrolled and attending on at least a halftime basis (six credit hours during the Fall and Spring terms, and in at least four credit hours during the Summer)
- Complete Entrance Counseling
- Sign a Master Promissory Note
Annual Loan Limits
| Freshman | Sophomore | |
|---|---|---|
| Dependent Students | $5,500 | $6,500 |
| Independent Students | $9,500 | $10,500 |
- Estimating Loan Repayment and Repayment Options
- Federal vs. Private (Alternative) Loan Options
- Loan Deferment or Forbearance Options (Having Trouble Making Payments)
Federal Direct Subsidized Loan
This Direct Subsidized Loan is available to students with financial need. The loans are funded by the U.S. Department of Education and administered by Des Moines Area Community College. Eligibility is determined by the FAFSA. Students must be enrolled in at least a half-time status. The interest for a subsidized loan first disbursed on or after July 1, 2023 and prior to July 1, 2024 is 5.50% and is paid by the government while the student remains enrolled in at least half-time as well as during the first six months after the student leaves school. Students need to start repaying this loan six months after graduation, or if the student drops below half-time enrollment. More information regarding eligibility can be found at: Federal Student Aid: Low Interest Loans
Federal Direct Unsubsidized Loan
Federal Direct Loans are student loans that are funded by the US Department of Education and administered by Des Moines Area Community College. Eligibility is determined by the FAFSA, and students must be enrolled in at least a half-time status. The interest rate of the unsubsidized loan first disbursed on or after July 1, 2023 and prior to July 1, 2024 is 5.50% and the interest is NOT paid by the federal government while the student is enrolled. The interest accrues from the time the loan is disbursed until it is paid-in-full. Students can pay the interest while in school, or it will be added to the principal balance of the loan when entering repayment. Repayment begins six months after graduation, or after the student drops below half-time enrollment. More information regarding eligibility can be found at: Federal Student Aid: Low Interest Loans
Federal Direct PLUS (Parent Loan)
The Federal Direct PLUS Loan is for parents of dependent students and is subject to a credit check. A parent may borrow up to the amount of the student’s cost of attendance less any other financial aid. Filing the FAFSA is required for this loan.
- Interest rate for Direct PLUS Loans first disbursed on or after July 1, 2023 and prior to July 1, 2024 is 8.05%
- Interest accrues from the time the loan is disbursed until the loan is paid-in-full
- Parent borrowers may start repayment once the loan is disbursed or request a deferment
More information regarding eligibility can be found at: Federal Student Aid: Direct PLUS Loans
Alternative Loans
Alternative, or private, loans are offered by outside lenders to supplement the federal loan programs, and are available after Federal Direct Loans are fully used for the year. Private loans are not affiliated with the federal student loan program. These loans require a separate application, which is submitted directly to the lender. The student must meet the lender’s credit criteria to qualify. The interest rates and repayment terms can vary widely and are available through the lender. All students are strongly encouraged to complete the FAFSA and use all available federal and state aid programs before applying for private loans. More information regarding Alternative Loans
Loan Disbursements
Student loan borrowers at DMACC, other than the two circumstances listed below, have their loans disbursed after attendance is verified. Attendance is verified at the census date of the term. More information on financial aid disbursement and release of funds dates
First-Time Borrowers
All first-time borrowers will not have any loan funds disbursed to their DMACC account until 30 days after their term begins and their attendance has been verified.
Single-Term Loans
Any student completing a Loan Change Form to request a one semester loan will have two disbursement payments. The first payment will be processed after attendance is verified (or 30 days after the term begins for first-time borrowers) and the second disbursement payment at the midterm date.
Cohort Default Rate
Federal student loans are borrowed funds that must be repaid with interest. Failure to repay a loan can result in default for an individual student. Schools are also held accountable for how many students are repaying versus defaulting on loans. A cohort default rate (CDR) is the percentage of a school’s borrowers who enter repayment of federal student loans during a fiscal year and default within the cohort default period.
The Department of Education calculates the school’s CDR by dividing the number of borrowers from the school entering repayment in a cohort year and default within a 3-year period divided by the number of borrowers from the school entering repayment in the cohort year.
Students should investigate and inquire about a school’s Cohort Default Rate (CDR) before taking on loan debt the same as they would graduation rate or job placement rate.
Official Cohort Default Rates are updated annually by the federal government and posted publicly. DMACC’s current CDR is posted below. Note that default rates were impacted by the national student loan payment pause enacted during the Covid-19 Pandemic. During that time students were not required to make payments nor placed in default status. If you have questions please contact our Office. You can research and compare other Cohort Default Rates at StudentAid.gov. They have links to more information and searchable databases on the most recent Cohort Default Rates for all colleges.
DMACC 3-Year Default Rate
| Cohort Fiscal Year | Official Default Rate | National Avg (Community College) |
|---|---|---|
| 2021 | 0.0% | 0.0% |
| 2020 | 0.0% | 0.0% |
| 2019 | 2.6% | 3.7% |
If you are eligible for any of these state-funded programs, you must have your FAFSA filed by July 1. Make sure to include the DMACC School Code: 004589 on your FAFSA.
Last-Dollar Scholarship
The Iowa Last-Dollar Scholarship covers any tuition and fee gaps not covered by other federal and state grants/scholarships for eligible Iowa residents enrolled in targeted, high-demand career and technical programs at DMACC. Students must file a FAFSA by the announced deadline each year. Students must have an eligible Student Aid Index (SAI) at or below $20,000 and be continually enrolled in a Last-Dollar Scholarship eligible program.
This first-of-its-kind financial assistance program offers an affordable pathway into many exciting and growing careers. More information regarding eligible DMACC programs and eligibility can be found at: Last-Dollar Scholarship
Iowa Skilled Workforce Shortage Tuition Grant (KIBBIE)
The Kibbie Grant provides need-based financial assistance to Iowa residents enrolled in specific career or technical education programs of at least 15 weeks. Students must complete a FAFSA by the July 1 deadline. Students must have a Student Aid Index (SAI) number from $-1,500 to no greater than $6,000. The award amounts are based on the number of credits a student is enrolled. The maximum KIBBIE grant is $3,000 and dependent on the calculated SAI figure. Eligible recipients can be full-time or part-time. Kibbie grants are tuition/fee restricted.
KIBBIE Grant application deadline is July 1. More information regarding eligibility can be found at: Iowa College Aide: Kibbie Grant.
Iowa Vocational Technical Tuition Grant (IVT)
Iowa residents that enroll in career or technical education programs at Iowa community colleges may be eligible to receive the IVT grant. IVT grants can range from $200 to $1,200 for the academic year. The amount a student is awarded is based on the Student Aid Index (SAI) and the number of credits in which the student is enrolled. Students must show financial need, be enrolled in a Vocational Technical program of at least 15 weeks in length, have a SAI of $201 to $6,800, and meet a July 1st FAFSA application deadline. Eligible recipients can be either full-time or part-time. IVT awards are tuition/fee restricted.
More information regarding eligibility can be found at: Iowa College Aid: Iowa Vocational Technical Tuition Grant
Iowa National Guard Service Scholarship
The Iowa National Guard Scholarship is a state funded tuition assistance grant for Iowa Air and Army National Guard members attending college. Students must be Iowa residents (as established by the Adjutant General), in good standing with their units, and attend an accredited Iowa school. The Scholarship pays up to 100% of the tuition costs at their school of choice. This does not have to be repaid.
In order to receive the Iowa National Guard Service Scholarship at any school students must also submit the FAFSA by July 1, 2020 for Fall Semester. More information regarding eligibility can be found at: Iowa College Aid: Iowa National Guard Service Scholarship.
View scholarshipsIf you don't qualify for these state-funded programs, it's still important to file your FAFSA to find out if money is available from other financial aid resources.
Summer Pell Grant Eligibility
- If you received Pell grant based on full-time enrollment for the Fall and Spring terms, you must be registered at least half-time (4 credits) for the Summer term to receive a Summer Pell grant.
If you fail to remain enrolled at least half time for the Summer term, your Summer Pell grant funds may be cancelled.
- If you received Pell grant on a less than full time basis for the Fall and/or Spring terms, you may have Pell grant available even if you enroll in less than 4 credit hours.
When will summer Pell grants be awarded?
Students that are eligible for a Pell grant for the Summer term will be awarded after enrolling for the Summer term. You will be notified via email when your financial aid award has been updated. You can also log in through myDMACC and select the Financial Aid Dashboard to view your Summer Pell grant award.
Student Loans
You must be enrolled at least half-time (4 credits for summer term) to be eligible for a student loan. You must not have used your annual loan limit during the Fall/Spring terms in order to receive a student loan for the Summer term. Review the annual loan limits in the "Loans" section above.
To request a student loan for the Summer term, complete an online Loan Change Form.
Eligibility Criteria
- You must be a degree-seeking student at DMACC to receive federal financial aid.
- The courses you are enrolled in must apply to your program of study in order to receive aid for those courses.
- You must maintain Satisfactory Academic Progress
Federal College Work-Study provides eligible students the opportunity to work part-time while attending DMACC.
Work Study InformationIf you have served in the military, or are the spouse or dependent of a veteran, you
may be eligible for veterans' education benefits.
Veterans Services Information