<p>What are the Pell grant and the Perkins loan thresholds? I didn’t receive the Pell, but some schools gave me Perkins and some didn’t…</p>
<p>I started a thread yesterday here titled “How Families Sometimes Do It” giving a real life example of our cousin who will be going to a private college this fall. He had also applied to 3 local school, a state school (non flagship but 4 year), a private Catholic college and community college. His stats made all three safeties for him, though the full sticker price for tuition was high . He got full tuition awards for the two four year schools, but only a nominal award from the community college. So his least expensive option would have been commuting to either of the 4 year school even though the CC had the lowest sticker price. The cost for the private school he chose, was just a couple of thousand dollars more than what the state flag ship would have cost him after all was said and done. </p>
<p>Perkins is something that schools apply to get, and they only get a limited number to give out. They are supposed to go the the PELL eligible kids, the neediest first and what’s left is then distributed to others, if anything is left. There is no guarantee anyone will get a Perkins even from year to year.</p>
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<p>Wrong.</p>
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<p>[Electronic</a> Code of Federal Regulations:](<a href=“http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=731b88960c9cfdba738157465cc2c222&rgn=div5&view=text&node=34:3.1.3.1.37&idno=34#34:3.1.3.1.37.1.39.8]Electronic”>http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=731b88960c9cfdba738157465cc2c222&rgn=div5&view=text&node=34:3.1.3.1.37&idno=34#34:3.1.3.1.37.1.39.8)</p>
<p>In practice, schools give out Perkins loans in many different ways. THe loans are supposed to go to the neediest students, but this does not seem to be enforced. Also some colleges will fund their neediest students with their own grants, still have Perkins funds, so the money can end up going to non Pell kids at that school rather than Pell kids. I’ve yet to get any rhyme or reason as to how these loans work. Not all schools have them, they have varying amounts of them, and students have gotten them some years and not others. Unlike PELL and the Direct Loans (staffords) HEOG and Perkins are not guaranteed, and most schools do not have them to give out. You cannot count on getting a Perkins loan.</p>
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<p>The rules provide that each school define for itself who the neediest are, and that once that definition is made, that the criteria be uniformly applied:</p>
<p><a href=“c”>quote</a> The institution shall establish selection procedures and these procedures must be—</p>
<p>(1) In writing;</p>
<p>(2) Uniformly applied; and</p>
<p>(3) Maintained in the institution’s files.
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<p>[Electronic</a> Code of Federal Regulations:](<a href=“http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=731b88960c9cfdba738157465cc2c222&rgn=div5&view=text&node=34:3.1.3.1.37&idno=34#34:3.1.3.1.37.1.39.8]Electronic”>http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=731b88960c9cfdba738157465cc2c222&rgn=div5&view=text&node=34:3.1.3.1.37&idno=34#34:3.1.3.1.37.1.39.8)</p>
<p>I don’t know whether that method for determination would be a public document and subject to a FOIA request - probably not, since it’s developed and maintained by the institution, and not by the feds themselves. In some states, for public colleges, it might be a public document under state FOIA rules.</p>
<p>Then, anyone who is interested in the Perkins program has to find out how his/her particular school distributes those funds. Since each year, there is a new crop of students accepted and there seems to be a small pool of Perkins money at those few colleges that even have it. the distribution rules cover a whole new group each year. Over the years, I have seen kids some years get the Perkins, and some years not. A lot of schools have a first come, first serve aspect to distributing these funds, which give the freshmen first go at them since upperclassmen do not generally get their financial aid in until after the admissions process. </p>
<p>So the answer is that each student needs to ask each school to which s/he is applying how the Perkins is distributed there, and if the school even subscribes to the Perkins. if a student gets a Perkins grant, it behooves him to be right on top of financial aid about getting it again the next year, unless it is going to be replaced by grants.</p>
<p>Not much mystery to the Perkins process at the state U where I used to work. The Perkins fund shrank each year, and that fund was allocated by computer based on parameters set by the aid office management. First, it was awarded based on EFC to the neediest incoming freshmen (first-time-in-a-college). The remaining funds were awarded to returning students based on EFC and date FAFSA was filed. More was awarded than the school actually had, based on a determination of the amount that management expected would go unaccepted (freshmen who went elsewhere or students who declined the loan). In past years, some of the fund was leftover & could be awarded later in the year to those students with compelling need. Last year, however, there wasn’t really any money leftover.</p>
<p>The unpredictability of who gets what in the PERKINs is pretty clear in the model that Kelsmom gives. The pool of who is eligible changes since the incoming freshmen get first go at the money, and even those who got money the year before are not first in line anymore because of that. Throw in diminishing funds each year, and it’s really up in the air whether you get the money or not.</p>
<p>I have seen non PELL kids get PERKINS loans offered while PELL kids did not. I know some kids who cannot possibly be the neediest in the lot get PERKINs, specifically from Connecticut College. It is possible that a school gives PELL kids or the truly neediest enough grants in the package so that the need level is bumped up. There are schools that do not give loans in packages to students from families making below a threshhold.</p>
<p>Thanks, guys</p>
<p>Rbouwens, when you get to college, pop into the financial aid office to introduce yourself to those there, and ask if you can set an appointment to talk to an officer. Have questions ready to ask. Those people are the only ones that can give you answers specific to your school and to you. It’s also a good idea that they have a face to your application, and that you let them know that you are looking for any opportunities for which you may be eligible. Touch base with the regularly too. The squeaky wheel does tend to get the grease.</p>
<p>^ ok, thanks!</p>
<p>Hey CC,
I am heard that Obama has made some changes to the Student loan situation, anyone care to elaborate on that because I am not familiar on the details of this course of action?</p>
<p>Jacefromla, you may want to start a new thread with this question. It is getting lost at the back of this old one.</p>