How long can one receive financial aid?

[iasdji]

Hello,

I was wondering if anybody can tell me how long can one receive financial aid?

I was enrolled at another four year university two years (four semesters to be exact) prior to transferring to my current school. For those four semesters, I received financial aid and I’ve been at my current school for a semester, soon going onto my second. In essence, I’ve will have had financial aid for six semesters over the span of three years.

My question is when will long will I be eligible to receive financial aid?

Thank you in advance!

[thumper1]

Are you talking about need based federally funded aid? It’s usually 12 semesters…six years.

But could you clarify what you mean? School funded aid is different. There is an aggregate limit to Direct Loans.

12 semesters is the limit for the Pell Grant.

[iasdji]

I just wanted to know an approximate time frame for the federally funded portion of my aid.

Thanks!

[4kidsdad]

Time limit on Federal Direct Loans: See https://studentaid.ed.gov/types/loans/subsidized-unsubsidized

If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. This time limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans. If this limit applies to you, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your “maximum eligibility period.” Your maximum eligibility period is generally based on the published length of your current program. You can usually find the published length of any program of study in your school’s catalog.

12 semesters is the limit for the Pell Grant

This is a lifetime limitation. See https://studentaid.ed.gov/types/grants-scholarships/pell/calculate-eligibility

The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding you can receive each year is equal to 100%, the six-year equivalent is 600%.