Financial Aid

1. Log into MyMTech
2. Choose Student & Financial Aid under OrediggerWeb
3. Choose Financial Aid

On the home page, you will see any outstanding requirements.

1. Log into MyMTech
2. Choose Student & Financial Aid under OrediggerWeb
3. Choose Financial Aid
4. There are questions on the Home page available to you
5. Click Award Offer - This page will provide your estimated Cost of Attendance and the financial aid that has been offered to you.
6. After making a decision on your financial aid fund offers, click the Submit button.
7. The Terms and Conditions of receiving financial aid will then appear. You can read and submit your acknowledgement of the terms and conditions. These can be viewed on the Notifications tab if needed again for future reference.

If you have accepted a Federal Direct Loan, are a first-time borrower at Montana Tech, and you need to borrow, you MUST complete the online entrance counseling. Please be aware, if not completed, your Federal Subsidized and/or Unsubsidized Direct Loan will not disburse.

• Complete your On-Line Entrance Counseling for your Direct Loans

Students can elect to complete the Annual Student Loan Acknowledgement for Federal Student Loans at http://studentaid.gov/asla/. This is currently not a requirement to receive federal student loans but can help you track how much you are borrowing as you proceed through school.

If you are graduating, transferring, or will not be attending Montana Tech and have borrowed Direct Loans you MUST complete the On-Line Exit Counseling.

• Complete your On-Line Exit Counseling for your Direct Loans

If you would like additional counseling or information about borrowing a Federal Student Loan, please contact Financial Aid at (406) 496-4223 or by email at financialaid@newwave-travel.com to schedule an appointment.

If you have accepted a Federal Direct Loan, are a first-time borrower at Montana Tech, and you need to borrow, you will need to sign a Master Promissory Note.

The Master Promissory Note (MPN) is a legal document that when signed is a promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. In addition, it also explains your terms and conditions of your loan(s).

You may receive more than one loan under an MPN over a period of up to 10 years to pay for your or your child’s education costs at Montana Tech. There are different MPNs for each type of loan.

• Complete your Loan Agreement for Subsidized/Unsubsidized Loan (MPN)

If you would like additional counseling or information about borrowing a Federal Student Loan, please contact Financial Aid at (406) 496-4223 or by email at financialaid@newwave-travel.com to schedule an appointment.

Dependent Students

1. Go to studentaid.gov to obtain information about the Direct PLUS loan and click Use the online application to apply for a parent PLUS loan to apply.
2. The parent will sign in with their FSA ID.
3. Click the Log In To Start button.
4. If credit is approved and the parent wishes to continue with borrowing the PLUS Loan, the master promissory note for the Federal Direct PLUS Loan for Parents must be completed at the same site.
5. If credit is denied, the parent may find an endorser for the loan or the student may contact Financial Aid at financialaid@newwave-travel.com or 406-496-4223 to discuss additional Direct Unsubsidized Loan options; or the family may want to explore alternative/private loan options on FASTChoice.

Private Loans

What is a private student loan?

Private student loans are obtained through lending institutions and are not part of the federal student loan programs.  In most cases, federal student loan terms and conditions are more favorable than terms and conditions for private loans.  Care should be taken when choosing to use private loans to assist in paying for higher education.  It is important to remember that student loans of any kind must ultimately be repaid.

Students may seek a private loan to cover expenses not covered by their federal student loan eligibility but they cannot receive more than their cost of attendance minus any other assistance they are receiving to help with college related costs. Application for private loans is initiated by the student through a lending institution of their choice.

What is the difference between federal and private loans?

Federal loans are made by the government and the terms and conditions are set by law. Private loans are made by organizations such as banks and credit unions. The lender sets the terms and conditions for private loans. A chart showing the primary differences can be found at http://studentaid.ed.gov/sa/types/loans/federal-vs-private.

How do I find a lender?

Montana Tech partners with Great Lakes Higher Education Corporation to provide you with FASTChoice. FASTChoice is a tool which will help you compare the loan products that our students have used historically.

*Please note that students have the right to choose any lender that offers a private student loan. It does not have to be a lender listed in FASTChoice or one that has been used historically at our school.

What is the process to apply for a private loan?

Montana Tech recommends that you first exhaust all Federal Subsidized and Unsubsidized loan options at your disposal before choosing private loans as an option. Once you have decided that private loans are necessary, you should then research the loan terms offered by lending institutions to determine if you are comfortable with them.  Once you have chosen a lender, the steps to apply are:

1. Complete the loan application located on the lender's website.  Unless you have excellent personal credit, will most likely need a credit-worthy co-signer (parent, spouse, grandparent, other close relative) to sponsor your loan application. Co-signers are responsible for repaying the loan should the student fail to make timely payments.
2. Application passes through credit analysis.
3. Application is sent to the school for certification.
4. Montana Tech will certify that the loan amount requested is within Federal guidelines.
5. Student self-certifies the loan using the Private Education Loan Self Certification form.
6. Once the self-certification form is received by the lender from the student, the lender must wait the mandatory number of days before they release the funds to the school to give the borrower time to decide if they want to cancel the loan.
7. Funds arrive at Montana Tech and are posted to your Business Office account. If the funds create a credit balance, a check made payable to you will be distributed by the Business Office.

• Montana National Guard Tuition Waiver [external site PDF]
• Honorably Discharged Veteran Waiver [external site]
• War Orphans Waiver [external site PDF]
• Surviving Dependents of Montana Firefighters/Peace Officers Tuition Waiver [external site PDF]
• Montana University System American Indian Undergraduate Tuition waiver [external site PDF]

• Faculty Staff Tuition Waiver Form
• Dependent Tuition Waiver Form

Federal statute requires a recalculation of aid eligibility when a recipient of financial aid withdraws from Montana Technological University.

Learn more about the return of the Title IV policy »