Private financial aid - for more than four years?

Paying for College
1

<p>I have heard anecdotally that colleges that guarantee to meet demonstrated financial need through grants and work study may only cover four years of study. I can see why a school would do this, but I can also imagine that a student who wasn't sure what they wanted to study, maybe a student who declared a major but then changed their mind, might struggle to finish in four years. I'm interested to know if you have a son or daughter who thought about staying for an extra semester or year at their college -- did their financial aid definitely expire after four years?</p>

<p>Thank you!</p>

2

<p>I don’t know anyone who’s had this happen, but my son’s school has very generous aid and they make it clear it’s just for four years. However, I suppose with some very special circumstances they might consider granting a student an additional semester, although I doubt changing one’s major is a legitimate reason. Best, though, to plan on getting out in four years if your depending on that aid.</p>

3

<p>I’ve never heard of financial aid being granted for more than four years. I’ve heard of students who needed more than four years to finish and they had to foot the bill for the extra time.</p>

4

<p>Federal aid such as the Pell is available for more than 4 years (if you are eligible in the first place). My daughter’s scholarship was a 2 part scholarship and one part was good for 5 years while the other was just good for just 4 unless the student was in a program that takes 5 years (like architecture at her school).</p>

<p>So, it varies. You would need to check with the school.</p>

5

<p>As far as school funds… There are sometimes special programs that specifically fund a 5th year like U of Rochester’s Take 5 Scholars Program. Otherwise, most people I know who have taken over 5 years to graduate and needed financial aid transferred and then were able to get aid from a different school. You will definitely be able to get Pell but I would check with each school for their money.</p>

6

<p>The Take 5 Scholars Program at Rochester is not for students who simply need a 5th year to graduate. In fact, they’re specifically excluded from applying to the program. </p>

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7

<p>Yes, that’s correct. The programs I’ve heard of that specifically fund an extra year do so with restrictions.</p>

8

<p>Thanks, all - In the accepted student day presentations I attended with S2 this spring, I heard several speakers comment on how the advising team at their school guides students to finish in four years. It’s all coming together now :slight_smile: and it does make sense.</p>