Hey guys,
My college program charges per class rather than per quarter. The aid package I was awarded was based on 3 classes per quarter. This quarter I chose to take 4 classes instead of 3. Unfortunately, this extra class ate into my living expense reimbursement. I’d rather keep my fourth class is possible, but I need the reimbursement for living expenses. Is it possible to have FAFSA updated mid-quarter to reflect this change in expenses or must I drop the class and receive the reimbursement?
Thank you so much - I have to decide within 12 hours as the deadline for dropping is tonight, and of course the school is closed on Sunday.
FAFSA doesn’t consider expenses. It is simply used to collect financial and household information.
Are you receiving Pell? If so, you may or may not receive any extra Pell based on the credits in which you have been enrolled this year. You can only receive 100% of your annual Pell award during the year. Pell is paid based on credits. If you were enrolled in 9-11 credits and your 4th class brings you to 12 or more, you’ll receive more Pell … but if the cost of your class is more than the additional Pell, you will actually owe more for the class than you receive.
Have you borrowed your full annual loan amount? You might be able to borrow more loans, if you have not yet borrowed your annual limit. Also, if you moved from one class level to another, you might be eligible to borrow more (for example, if you borrowed $5500 but are now a sophomore, you can borrow another $1000).
Other than that, I doubt any more aid will be available to you.
I’d be happy to borrow more loans. That’s what I meant by FAFSA; I may be confusing my terminology. I went to the FAFSA website to update my information but I didn’t see an option for increasing the amount loaned. Perhaps the school needs to send updated information to FAFSA for them to increase the loan amount?
What year are you? You can borrow up to $5500 for freshman year,mand $6500 for sophomore year. If you have already completed the FAFSA and are a full time student…go to your financial aid office and see if you have any more Dorect Loan money available to you for this academic year.
I think I figured it out - thanks kelsmom!