To take one more class I need to graduate, I’m thinking about registering for four classes, so I get financial aid so I can pay expenses and costs. Then drop three classes which I dont need, so I can focus on that one class that I need, while getting financial aid.
Would I be required to give the money back in this situation?
Yes…you will be asked to pay the money back.
Would I keep enough to graduate with just that class (3 units)?
I’m assuming taking just that class wouldnt provide me enough fafsa to pay tuition and for that one class.
If this student is only taking one class…how much federally funded aid would he be able to receive? Any? He on’y needs one course to graduate.
Usually, if a student is taking only one course, they are well,less than 1/2 time enrollment, and would get no need based federally funded aid…at all.
When you drop the classes, your aid will be recalculated. You will be required to pay back the aid you lose.
Loans require at least half-time course load - if you drop below half time (most likely below 6 credits, depending on your school’s policies), you have to repay the full amount of the loan that was disbursed for that semester.
Pell is paid based on credits, and you would be eligible to keep 25% of a full-time semester Pell payment at 1-5 credits, 50% at 6-8 credits (so if you get max Pell in 16-17, less than half time would be a semester payment of $727). You’d have to repay the rest.
Institutional aid depends on the school’s policies - generally, school grants required full time enrollment.
You actually are not supposed to receive aid for classes that do not count toward your degree. If you enroll in classes you don’t need, your school should not be counting those toward your financial aid eligibility, anyway.
If you needed only one more class to graduate, why didn’t you take the class in the summer or worked in the summer to earn the money for the class. How much is one 3 credit class, $1000, $2000?