http://talk.qa.collegeconfidential.com/university-pennsylvania/2006934-no-financial-aid-for-5th-yr-seniors-at-upenn.html is a discussion about an eight semester limit on need-based financial aid at the University of Pennsylvania (where the recent 4- and 6-year graduation rates were 85% and 95%).
What types of limits on the number of semesters or credits attempted or other factors are common?
A quick look at the policies of California public universities indicates that their limits are that the student must make what they consider “satisfactory academic progress”. The definition given could allow for up to ten or eleven semesters for someone who passes minimum “full time” course loads every semester, but could be as long as fifteen semesters for someone who fails up to a third of his/her courses (although someone who fails that many courses is likely to drop out for academic or lack-of-interest reasons).
The Pell Grant can be received for the equivalent of 12 semesters.
There is an aggregate limit on Direct Loans for undergrads. Not sure how many terms they cover.
A fair amount, if not most merit awards at most colleges specifically state they are four 8 semesters only (one the equivalent number of quarters).
Agreed - most colleges limit merit awards to 4 years. Some limit institutional aid to 4 years, as well - and often, grants are limited to those with a certain enrollment level (e.g., full time; at least half time, etc.). IMHO, a school that limits their own aid has every right to do so … but they also have a responsibility to make sure it is possible for students to graduate in 8 semesters. This means top-notch advising and class scheduling that allows students to get into the classes they need.
It has been almost 10 years since my D finished undergrad. When she got her financial aid letter Dartmouth was very clear that unless you were in an approved 5 year program (engineering where you were getting 2 degrees) their need based aid had a max of 12 terms/4 years. The conversation in out house was that the bank closed at the end of 4 years (not 4 years and a summer, not 4 years and I forgot a class).
I know that one of my good friends were OOS full pay for both of their kids at Michigan for 8 years (never was in collge at the same time). she had to pay over $10,000 for son to go to summer school to finish classes to complete his degree (boy was she mad). She is looking forward to finally retiring in 2 years!!
I remember attending college in the 70’s when Pell was BEOG. the max grant was approx. $3500 and you would almost purchase a new car (Chevy/Ford) with the amount of money you were receiving. I knew a lot of people who were attending community college on the 5/6/7 year plan driving BEOG cars.
Private institutions have every right to state what the terms are for getting their money.I wonder if parents were writing 5 figure checks every year, would students would constantly change majors and take their own sweet time to graduate. i am really quite impressed at the fact that Penn paid for more than 4 years. Off the top of my head, I can’t think of any other Ivy that would do so (perhaps HEOP students at Cornell/Columbia but they provide so much support that they graduate in 4 years)
I know with the exception of EOP programs, NYS aid maxes out at 4 years, whether or not you complete the degree.