02-10-2012, 06:28 PM
Wow, I guess we need to get in the weeds on this one?
Actually, TESC stated it correctly, it's the interpretation that's a bit off. Full award is not referring to P/T or F/T student, it means the difference between any amount and the full award which neroko stated is 5500.
the maximum full award would be 5500 / 4 or $1375 awarded per quarter. the maximum amount is calculated for full time (F/T= min 12cr-15cr) students when there is a need;
but if half time (P/T = min 6cr-9cr) the amount will be lower. see the for example amount of 4050 / 4 or $1012 per quarter
bottom line -- a student taking 6cr will not receive the full 5500 award. http://ifap.ed.gov/dpcletters/attachment...Attach.pdf
You can take out any amount of student loans that you want within the year as long as you are going to school half time for payout of stafford loan in the amount of 9500-12500 per calendar year. Student Aid on the Web (Private loans notwithstanding.) Pell or grants are handled differently. It's confusing because both the loans and grants are called (and handled) through financial aid. Meaning must fill out a FAFSA application, must take min 6 credits per quarter/semester and money is disbursed through the financial aid department.
I hope this is a better explanation. If not please call the financial aid department.
This is the reason before a loan will be approved student have to take the entrance counseling, it can get confusing. Student Aid on the Web
Glossary of terms Student Aid on the Web
Actually, TESC stated it correctly, it's the interpretation that's a bit off. Full award is not referring to P/T or F/T student, it means the difference between any amount and the full award which neroko stated is 5500.
the maximum full award would be 5500 / 4 or $1375 awarded per quarter. the maximum amount is calculated for full time (F/T= min 12cr-15cr) students when there is a need;
but if half time (P/T = min 6cr-9cr) the amount will be lower. see the for example amount of 4050 / 4 or $1012 per quarter
bottom line -- a student taking 6cr will not receive the full 5500 award. http://ifap.ed.gov/dpcletters/attachment...Attach.pdf
You can take out any amount of student loans that you want within the year as long as you are going to school half time for payout of stafford loan in the amount of 9500-12500 per calendar year. Student Aid on the Web (Private loans notwithstanding.) Pell or grants are handled differently. It's confusing because both the loans and grants are called (and handled) through financial aid. Meaning must fill out a FAFSA application, must take min 6 credits per quarter/semester and money is disbursed through the financial aid department.
I hope this is a better explanation. If not please call the financial aid department.
This is the reason before a loan will be approved student have to take the entrance counseling, it can get confusing. Student Aid on the Web
Glossary of terms Student Aid on the Web