<p>I have been in school for a while now, so I know the process of applying for aid. My question, is the money you get (I recieve Federal Pell Grants) a percentage of the tuition you need to pay, or is it a set amount?</p>
<p>The reason I ask is because, the school I go to now has tuition at $2,000 per semester I get just enough aid to pay the remainder out of pocket.
If I was to transfer to a school at say $15,000 per semester, should I expect to get the same amount in my Pell Grant as if I was going to the $2,000/semester school?
Or will they boost the amount I get so that i can pay the remainder of $15,000 out of pocket as well?</p>
<p>The maximum Pell Grant is $5400 regardless of the price of the school. So…if you go to a school that is $15,000 your Pell Grant amount would be the same as if you went to a school that costs $4000.</p>
<p>Depending on the school, you might get some other school based need based financial aid. BUT that would depend on the school to which you transfer. As a junior, you would also be eligible to take a $7500 Stafford loan in your name for the year.</p>
<p>I see, my last resort will be to take out loans. </p>
<p>Bad, bad idea in these times. I’m not looking to be $40,000+ in debt after graduating lol, so I may as well look into other schools.</p>
<p>Thanks for the reply.</p>
<p>Well it really depends on what job you expect to get out of college. $40k in loans for a job that starts off paying $100k? Go for it! $40k in loans for a job that starts off paying $30k, well that’s not that smart of an idea…</p>
<p>If this kid qualifies for full Pell at his current school, then he’s not likely going to have qualified co-signers that will help him borrow $40k.</p>
<p>Mast…You’re in NY…do you qualify for TAP? If so, then look at SUNYs and CUNYs. Is there a SUNY or CUNY you can commute to?</p>