Pell grant

[Mamasaphire]

I wonder if I could use a pell grant on the cornerstone and graduation fee. $300+ saved. Is it possible?

To answer the OP's question, there is a lifetime maximum, so if you haven't reached that yet you can likely use your Pell Grant money *IF* the course is a *graded* course (i.e. it cannot say it is P/F or CR/NC). I am not sure about using it on the Cornerstone since I have read that the course will be a CR/NC course. But it is always worth checking with TESU themselves.

[rebel100]

I see no reason why it can't be used for the cornerstone course....but the OP will have to have 6 credits minimum to receive half the PELL grant. If TESC does something wonky with the semesters then you will have to abide by their unique rules...but you won't be able to access funds for less than whatever equals 6 credits per semester for half, 12 credits per semester for full

[rebel100]

I guess I don't understand this very well :confused:.

I think most schools prorate the Pell Grant credits covered based on the number of credits taken that semester (and remaining in their initial allotment) -- so if a student was to take a 3 credit class anywhere, they would receive a similar amount of funding no matter the cost of the course.

And that money (which is a grant, not a loan) should still come in to cover part of the 3 credit course whether or not the student takes CBEs or classes for their other credits. In essence at TESU it would be like a small discount on the $1500.00 course, but still better than nothing.

How it has been explained to me by a state school fin aid rep (not at TESU) is that to receive *loans* there is a minimum requirement of 6 credits/semester, but for the Pell Grant itself it is divided/prorated into blocks for 0-3cr= 1/4 grant, 4-6cr=1/2 grant, 7-9= 3/4 grant, 10-12cr= full grant amount for that semester. That dividing into 4 semesters thing at TESU is confusing, especially since their fin aid dept told me you can only access Pell Grant for 2 semesters/yr.

So it never hurts to at least utilize the 1/4th of the Pell Grant for the Capstone if available. Correct??

see page 5, so essentially TESU considers a full year to be 4 quarters and reduces the aid or allows it based on unique calendar circumstances. I agree that it's confusing:

http://www.tesu.edu/documents/Financial_...ndbook.pdf

• FEDERAL PELL GRANTS
Pell Grants are awards for undergraduate students only. Pell
Grants are based on financial need and are used to help you
pay for a portion of your educational expenses. If you are
eligible and enrolled in the University, and take at least 6
credits of Guided Study and online courses per semester, you
may be considered for a Pell Grant. If you complete the
financial aid process by the specified deadlines, the grant may
be credited to your account when you register for courses.
Please note that the Pell Grant will be one quarter of the
maximum full-time award per term. For example, if your
maximum award is $4,050, your actual award will be $1,012
per semester if you take 6-12 credits per term. If you attend
less than 4 terms, your maximum Pell award will be reduced by
one quarter for each term missed. If your Pell award results in
a credit balance, then you will receive that balance the first
week of the term. Please be aware there is a lifetime limit on
Pell. The Department of Education will notify you if you are near
this limit. Please be aware that if you already have a bachelor’s
degree or are a graduate student, you are not eligible for Pell.
Due to the length of our terms, students with low Pell eligibility
may not be eligible for a disbursement. Pell eligible students in
only 3 credits of on-line and/or Guided Study coursework will
receive a reduced Pell grant.

[Mamasaphire]

I see no reason why it can't be used for the cornerstone course....but the OP will have to have 6 credits minimum to receive half the PELL grant. If TESC does something wonky with the semesters then you will have to abide by their unique rules...but you won't be able to access funds for less than whatever equals 6 credits per semester for half, 12 credits per semester for full

"Grades for the TES-100 course will be recorded as CR (Credit) or NC (No Credit) on your transcript and will not affect your grade point average". "Federal financial aid cannot be awarded for e-PackÂ, Prior Learning Assessment or TECEPÂ examinations due to grading policies".

So I'm not sure about them allowing the use of Pell for Cornerstone -- but it would be wonderful if they do as that would benefit those who need to get their 6 credits for aid.

"Pell Grant will be one quarter of the maximum full-time award per term as the University is under Pell Formula 3. For example, if the maximum award is $4,050, the actual award will be $1,012 per semester if 6-12 credits per term are taken.

If less than 4 terms are attended, the maximum Pell award will be reduced by one quarter for each term missed. If the Pell award results in a credit balance, then that student will receive that balance the first week of the term. There is a lifetime limit on Pell. The Department of Education will notify the student if near this limit. Students that already have a
bachelor’s degree or are graduate students are not eligible for Pell Grants.

Due to the length of our terms, students with low Pell eligibility may not be eligible for a disbursement. Pell eligible students in only 3 credits of on-line and/or Guided Study coursework will receive a reduced Pell grant." http://www.tesu.edu/about/ir/documents/T...Policy.pdf

I don't see how this benefits the school (to penalize their students for taking less than 4 terms, being less needy even if the government still allotted the student the grant, and insisting on OL/GS courses), and why their prorating is so different than other state universities, but very few of the newer policies I've seen TESU put into effect make sense from a students' prospective (except the 16cr Residency/waiver). :toetap:

[cookderosa]

"Grades for the TES-100 course will be recorded as CR (Credit) or NC (No Credit) on your transcript and will not affect your grade point average". "Federal financial aid cannot be awarded for e-PackÂ, Prior Learning Assessment or TECEPÂ examinations due to grading policies".

So I'm not sure about them allowing the use of Pell for Cornerstone -- but it would be wonderful if they do as that would benefit those who need to get their 6 credits for aid.

"Pell Grant will be one quarter of the maximum full-time award per term as the University is under Pell Formula 3. For example, if the maximum award is $4,050, the actual award will be $1,012 per semester if 6-12 credits per term are taken.

If less than 4 terms are attended, the maximum Pell award will be reduced by one quarter for each term missed. If the Pell award results in a credit balance, then that student will receive that balance the first week of the term. There is a lifetime limit on Pell. The Department of Education will notify the student if near this limit. Students that already have a
bachelor’s degree or are graduate students are not eligible for Pell Grants.

Due to the length of our terms, students with low Pell eligibility may not be eligible for a disbursement. Pell eligible students in only 3 credits of on-line and/or Guided Study coursework will receive a reduced Pell grant." http://www.tesu.edu/about/ir/documents/T...Policy.pdf

I don't see how this benefits the school (to penalize their students for taking less than 4 terms, being less needy even if the government still allotted the student the grant, and insisting on OL/GS courses), and why their prorating is so different than other state universities, but very few of the newer policies I've seen TESU put into effect make sense from a students' prospective (except the 16cr Residency/waiver). :toetap:

I don't have certainty with my answer, when I used a Pell, I had an enrollment fee - the pricing structure is different now. But, TESU's 4 part distribution is a little funky. So, if it's about $5,600 / 4 = $1,400 per quarter, but you have to subtract TESU's 6 credit cost. Straight cost is at $500 each, so you have to SPEND $3000 to GET $1400. Your net out of pocket is $1600.

So - here's what my math says:

Option 1) Pay cash for the Cornerstone at a cost of about $1400, do not get a Pell

Option 2) Get a pell and pay $1600.

[davewill]

I don't have certainty with my answer, when I used a Pell, I had an enrollment fee - the pricing structure is different now. But, TESU's 4 part distribution is a little funky. So, if it's about $5,600 / 4 = $1,400 per quarter, but you have to subtract TESU's 6 credit cost. Straight cost is at $500 each, so you have to SPEND $3000 to GET $1400. Your net out of pocket is $1600.

So - here's what my math says:

Option 1) Pay cash for the Cornerstone at a cost of about $1400, do not get a Pell

Option 2) Get a pell and pay $1600.

The Cornerstone is only $300 and one credit, so option 1 should be $300, and you'll probably end up at $1900 for option 2 (unless you can manage to take exactly 6 credits including the one credit cornerstone).

[indivinefavor]

Yes, rebel100 is correct. Full-time is considered 12 credits per semester, 6 credits is considered part-time. I used to be a financial aid coordinator and my mom is a director of finance. Unfortunately, they will not pay out any grant money for less than 6 credits. If money is an issue, you might want to see if there's a 3-credit course that would be a super, super easy A, so that you could receive your funding. It's free, hate to turn away free money.

[rebel100]

Again, the way to maximize federal grant money is to take as few coursesvia the Big 3 as possible.....work out a consortium agreement and take all the extra classes locally or through a school like CSU-Pueblo (they will work with you on the consortium).

[cookderosa]

The Cornerstone is only $300 and one credit, so option 1 should be $300, and you'll probably end up at $1900 for option 2 (unless you can manage to take exactly 6 credits including the one credit cornerstone).

Ooop! That's awesome! Yeah- so the math for sure supports paying cash.