Confused about applying for grants late

Paying for College
1

<p>Hi,</p>

<p>I’m in my first year of community college here in California and have run into a problem. I registered for classes particularly late this semester because of an unforeseen circumstance, and so I was forced to take classes that don’t fulfill transfer requirements. (I plan to transfer to a UC in two years.) Anyway, I signed up for some grants and I should be getting my award letter soon. The grants I was told I would be eligible for are Pell Grant and SEOG. The classes I’m taking right now, I only took so I could reach 12 units to reach full-time status and subsequently be eligible for the max amount of grant money.</p>

<p>I’ve found that I have very little motivation to study for my classes and have thought about dropping them because, again, they don’t fulfill any requirements. However, I really do need the grant money as my family is not in very good financial position and won’t be able to afford textbooks for the upcoming winter and spring semesters.</p>

<p>Which brings me to my questions. I’ll try to be as clear as I can.</p>

<li><p>Would the financial aid money I get now cover this current fall semester and the next spring? </p></li>
<li><p>I was told grant checks are sent out once at the beginning of the semester and once at the middle of the semester. We’re well into the middle of the semester now, so when I do receive my first grant check would it be both of them at once?</p></li>
<li><p>If I got financial aid money now, would I still apply for financial aid again in early January for fall 2009 and spring 2010 grants?</p></li>
</ol>

<p>Your help would be HUGE, and answer my biggest questions. Thanks in advance.</p>

2

<p>If you dropped those classes now, you would probably have to repay the aid you received and you would not be eligible for ANY financial aid until you repaid it back. You would have to look at the financial aid deadlines to confirm.</p>

<p>And yes the award letter you receive would cover fall and spring and you would probably get all the aid at once.</p>

3

<p>You need to talk to your school's financial aid and business offices to find out what will happen to your aid. </p>

<p>As for aid the next term - you are only paid 1/2 your annual award each term. If you go in the spring/summer term, how this is handled varies by school. Again, talk to your f/a and business offices to find out your school's policies and how they will affect you. Listen carefully! They cannot bend the rules, so be sure you know how all of this works.</p>

4

<p>I'm aware if I drop my classes I'd have to pay back, which is why I'm in a dilemma here. I don't want to mess up my first semester, but I don't really have much motivation to study for classes I don't need. What's worse, all four classes I'm taking are 8-week classes (instead of the normal 16-weeks), so everything goes twice as fast. And on top of that, I'm studying my math on the side pretty intensively so I can get placed into calculus next spring.</p>

<p>Just a few more questions I hope you guys can answer. I find it's a little difficult to explain the question because it's a bit of an odd situation, so please bare with me.</p>

<ol>
<li><p>If I have it correct, applying for financial aid now and getting the money now is the same as if I applied early in January of this year (aside from missing out on a few grants with deadlines)? </p></li>
<li><p>I was thinking if it'd may be better (because of my situation) to just apply fresh in January so I can get early consideration for all the financial aid available?</p></li>
<li><p>Also, I find another thing confusing. On my school's financial aid website, it says that once my FAFSA is sent in I should receive my check in about 8 weeks. But isn't applying for financial aid in January for fall 2009 and spring 2010? Like I said in my other post, I was told grant checks are sent out once at the beginning of the semester and once in the middle. But from what my school is saying, if I sent in my FAFSA in January, I'd be getting my first check sometime in February. </p></li>
</ol>

<p>Please try to answer all three questions if you can. Thanks.</p>

5

<p>
[quote]
1. If I have it correct, applying for financial aid now and getting the money now is the same as if I applied early in January of this year (aside from missing out on a few grants with deadlines)?

[/quote]

The 2008-2009 FAFSA became available January 1st 2008 and is for awarding aid for the 2008-2009 school year - that is the school year that started fall 2008. So if you had submitted the 2008-2009 FAFSA in January it would have been the same as submitting the 2008-2009 FAFSA now other than missing out on certain limited fund grants. For instance the Pell grant is not a limited funds grant so even applying for it late you should get what your EFC makes you eligible for (you EFC must be below 4042 to be eligible for any pell grant and the amount of the grant is graduated from a maximum of $4731 for a 0 EFC to the minimum of $890 for higher EFCs up to 4041 and $0 for EFC of 4042 and over. The SEOG grant is a limited funds grant meaning schools are only given $xxx to award and once awarded they can get no more. Filing late makes it possible you will not receive SEOG.</p>

<p>
[quote]
2. I was thinking if it'd may be better (because of my situation) to just apply fresh in January so I can get early consideration for all the financial aid available?

[/quote]

The FAFSA you submitted will already have caused the school to consider you for what aid is available for the 2008-2009 school year. The new FAFSA that will be available January 1st 2009 is for the 2009-2010 school year - that is the school year starting fall 2009. You should still submit that as early as possible so that you will get your best chance of aid for the 2009-2010 school year. It will not affect your 2008-2009 aid.</p>

<p>
[quote]
3. Also, I find another thing confusing. On my school's financial aid website, it says that once my FAFSA is sent in I should receive my check in about 8 weeks.

[/quote]

This would apply in your case as you filed FAFSA so late.</p>

<p>
[quote]
But isn't applying for financial aid in January for fall 2009 and spring 2010? Like I said in my other post, I was told grant checks are sent out once at the beginning of the semester and once in the middle. But from what my school is saying, if I sent in my FAFSA in January, I'd be getting my first check sometime in February

[/quote]
Yes doing the new FAFSA in january 2009 will be for aid starting fall 2009. That money will not be issued until fall 2009 and spring 2010.</p>

<p>Have you received a financial award letter from your school yet listing what aid they are offering you? If not you should probably contact them to make sure everything has been processed correctly and that there is no more paperwork due.</p>

<p>It is not a good idea to drop all your classes. If you drop your classes you may not be eligible for any financial aid next semester. Federal aid rules require that you successfully complete a certain % of classes that you attempt. I think it is 75%. If you drop all your classes you may possibly become ineligible for financial aid until you can show that you have successfully completed the required percentage. It may take one or two semesters to become eligible again. Although there is an appeal process you usually have to show some good reason for why you have not completed the required % of classes.</p>

<p>If you need the aid you would be much better off focusing on the classes you have signed up for rather than the math on the side. You need to make a decision about whether you would be better off passing your current classes and staying eligible for financial aid and maybe starting at a lower level math. Or fail/withdraw from your classes and be eligible for the higher math class but have no financial aid to pay for classes.</p>

<p>You need to go in and have a face to face discussion with your financial aid office. You need to make sure your application has been processed and find out what, if any, aid you are being offered. And you need to find out what the consequences of dropping your classes would be. As i said above - you may lose eligibility for any aid for a semester or more if you drop all your classes.</p>

6

<p>Thank you, that's a really good response.</p>

<p>So basically, the financial aid I apply for now has no affect on my 2009-2010 financial aid eligibility, right? As in, I still apply the same time as everyone else for 2009-2010 financial aid (early in January).</p>

<p>My EFC is 0, so does that qualify me to receive the full $4731? Is that max grant amount correct for community college students? </p>

<p>And finally, I would receive the FULL Pell Grant for the 2008-2009 school year regardless if I'm applying this late, right? (two checks for fall and two checks for spring) Would I receive both checks for this fall term at once because I'm getting them so late?</p>

7

<p>
[quote]
So basically, the financial aid I apply for now has no affect on my 2009-2010 financial aid eligibility, right? As in, I still apply the same time as everyone else for 2009-2010 financial aid (early in January).

[/quote]
Yes you still apply as early as possible in January to maximize your chances for 2009-2010 financial aid. You must reapply for aid every year by submitting the FAFSA for the upcoming school year. However dropping classes now could make you ineligible for 2009-2010 aid - the requirements are based cumulatively on all classes you have attempted </p>

<p>
[quote]
My EFC is 0, so does that qualify me to receive the full $4731? Is that max grant amount correct for community college students?

[/quote]
Yes that makes you eligible for the maximum Pell grant of $4731 as long as the annual (COA) Cost of Attendance at your school is more than $4731 and you are enrolled full time (usually 12 hours each semester but would depend on your school's definition of full time). Financial aid cannot exceed the COA so if it the COA is less than the Pell amount your grant would be reduced. Also you must be attending full time to get the maximum award. If you enroll for less than full time in a semester your grant will be reduced.</p>

<p>
[quote]
And finally, I would receive the FULL Pell Grant for the 2008-2009 school year regardless if I'm applying this late, right? (two checks for fall and two checks for spring) Would I receive both checks for this fall term at once because I'm getting them so late?

[/quote]
As far as I know you should receive the full Pell grant of $4731 for the year as long as you are enrolled for enough credits to be considered full time in both the fall semester and the spring semester and the school's COA exceeds $4731. I don't think applying so late s/b a problem but check with your financial aid department. If you are not full time you will not get the full grant. The way the money is paid out varies by school. For instance my daughter's school issues all excess money for the semester at the beginning of each semester - not in 2 separate installments. Also the money is not just given to you in the form of a check. Any expenses such as tuition and fess, books, room and board are charged to you bursars account. The financial aid is credited to the account. If the aid is more than the expenses you should receive a check for the difference. If the expenses exceed the aid that you owe the school the difference.</p>

<p>I notice you said you are enrolled in 4 classes that are 8 week classes. You will need to check with your school that you are considered full time.</p>

<p>And as I said check that no more paperwork is required. An EFC of 0 frequently generates a request for verification which would mean you would need to produce certain certain documentation (such as tax returns) verifying your FAFSA information. Check with your financial aid department.</p>

8

<p>Thanks again for the helpful response.</p>

<p>How exactly would I calculate the COA? As for tuition, it is being fully covered by the state through the California Board of Governors Fee Waiver. I'm pretty sure our school just hands out checks and lets us use it how we wish.</p>

<p>My main need for the money is for books, transportation, and food expenses.</p>

9

<p>COA generally consists of an averaged annual cost for tuition and fees, books, room and board, travel expenses, miscellaneous expenses. Some schools, like my daughter's school, make it easy to find the COA on their web site. If the web site has a search function try entering Cost of Attendance or Cost of Enrollment. Also try looking on the financial aid page or the Bursars page. Other schools, like my son's school, do not have the information easily available.</p>

<p>The COA may vary depending on whether you live on campus, live off campus with parents, live off campus without parents. For instance at my son's school the travel expenses portion of the COA increases for students living off campus, the room and board stays the same for students living off campus without a parent but goes down for students living off campus with a parent. At my daughter's school only the room and board part of the COA changes for living off campus - travel expenses stay the same. As you can see there are differences between every school.</p>

<p>If you have a tuition/fee waiver this would probably reduce the COA used for calculating remaining aid eligibility by the amount of the waiver. But unless the other portions of the COA total less than $4731 (which seems unlikely especially in California) I would think you should still be eligible for the full Pell. </p>

<p>But I don't know your school or it's policies. As I have said - go and talk to your financial aid department. I have found financial aid officers to be very helpful and willing to answer questions and help out when they can. The sooner you talk to them the sooner you are likely to get your aid sorted out.</p>