Hey guys, got my financial aid award from my new university (online school) and it doesn’t make much sense to me, hopefully one of you folks can explain why I’m getting so less from my school than what I was expecting.
So I got the Fafsa e-mail telling me my award amount: Pell Grant Estimate - $5,565.00.
My university (online courses) charges $900 a class and the class terms are 8 weeks instead of regular 16. 2 classes are considered full-time, so I’m taking 2.
This is what the school sent me in terms of awards-
Pell Grant Award from my school:
Term:1 - $464.00 Term 2- $464.00 Term 3- $464.00 Term 4- $463.00 Term 5- $464.00 Total: $2319.00
If I take 2 classes, one class is paid for by the pell grant and the other class $900 I have to pay out of pocket (what the lady told me) + books and all that, doesn’t make any sense though, if I got awarded $5,565 for a full year by Fafsa Pell Grant, how is it that I need to pay out of pocket for that 2nd class + books? Shouldn’t I be getting $2,700 a semester which $1,800 goes to the 2 classes and I get the remainder $900 (give or take) in a check for books and supplies? Can someone explain it to me, Ill give more info if you guys need it, thank you.
The school if following federal regulations regarding how they are allowed to pay out your Pell grant funds. Is it a clock hour school or a credit hour school? If clock hour, how many hours are you enrolled in? If credit hour, how many credits are you enrolled in (per term)?
In a single term, you are registered for:
• two 3-credit courses that apply toward your degree program
You will be considered a full-time student for financial aid purposes.
It doesn’t matter what the school considers full time - Pell is based on credits. You have 6 credits in the term. That would typically mean you would have 50% of your semester award in that term, or $1391 ($2,782 is semester award for 12 credits - at 6 credits, you get half of that amount). That is only for the typical semester school, though.
Trimesters & other odd calendars mean Pell is paid differently. If you have 6 terms in the school year, Pell is paid based on the 6 semesters. Each term would be worth 16.7% of the annual award, or $927. You are taking 6 credits, which means you only qualify for one-half your term amount … $927 divided by 2 = $464. So it’s correct.
hmmm guess it is correct, just threw me off because when I was attending my old university (regular 16 week courses) I took 12-15 units a semester and it all was all paid for + I would get back 700-1000 each semester for books and supplies, but I guess different schools and rules.
great guess now I got to take a sub loan, which I didnt want to do.
By the way, that was quite an exercise to figure it out - I have never had to do that before! It’s federal rules, not school rules … 6-term programs are not exactly the norm, which is why most people would be as surprised as you are.
Ya I appreciate all the help guys especially you Kelsmom, I was scratching my head trying to understand what the woman on the phone was saying, you made it simpler, dang can’t believe the only school I applied too and and got in has to be this way, 900 a damn class every semester and theres 6 in a year? i can barely afford ramen noodles.
It wouldn’t be right for a student taking 6 credits at another school and only getting 1/2 of Pell grant eligibility, and you getting a full Pell grant.
Since the courses are online and you are only taking 6 credits per term, could you work part time?
It does sound like a quirk in the way the schools can distribute Pell money. If this school called them fall/spring terms, still had courses for 4 week periods and but students had to take 12 credits over the 3 blocks, that would be full time. OP is going to take 18 credits during that period.
Colorado college has the block system, and the students have to take 1 course per block, but it still is full time.
I have had a really bad couple days at work, with some of my issues related to the difficulties associated with federal regulations. Believe me, there is so much involved in all of this. Sigh …
It’s federal rules, not school rules … 6-term programs are not exactly the norm, which is why most people would be as surprised as you are.