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Ok so the max pell grant is 6200. So say someone had the max pell. 6200/2 is 3100 so that's the amount per term. A term at WGU for undergrad is 3400. So if someone transferred in a bunch of credits and finished in one term would their degree be only about $400 out of pocket? and if they finished in two terms would it only be $800 out of pocket? Is there something I'm missing here.
I have some friends who don't have a lot of money and a lot of prior credits and this seems like the cheapest way to finish a degree out there. Is there something I'm missing here or am I correct in my numbers?
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05-03-2020, 06:11 PM
(This post was last modified: 05-03-2020, 06:12 PM by allvia.)
The Pell Grant is per academic year; so the grant awarded would be split between two terms at WGU. Not everyone qualifies for a Pell Grant, and for those who do - not everyone is eligible for the max; but WGU would let you know what you qualify for prior to enrolling.
Amberton - MSHRB
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05-03-2020, 06:45 PM
(This post was last modified: 05-03-2020, 06:46 PM by natshar.)
(05-03-2020, 06:11 PM)allvia Wrote: The Pell Grant is per academic year; so the grant awarded would be split between two terms at WGU. Not everyone qualifies for a Pell Grant, and for those who do - not everyone is eligible for the max; but WGU would let you know what you qualify for prior to enrolling.
Yeah i divided it by two in math. Which is how i came up 3100. I know not everyone is eligible for max pell. Say someone is. If they are am i correct that the degree would only be like $400. Thats crazy.
I get max pell i believe or if not very close to it.
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(05-03-2020, 06:45 PM)natshar Wrote: (05-03-2020, 06:11 PM)allvia Wrote: The Pell Grant is per academic year; so the grant awarded would be split between two terms at WGU. Not everyone qualifies for a Pell Grant, and for those who do - not everyone is eligible for the max; but WGU would let you know what you qualify for prior to enrolling.
Yeah i divided it by two in math. Which is how i came up 3100. I know not everyone is eligible for max pell. Say someone is. If they are am i correct that the degree would only be like $400. Thats crazy.
I get max pell i believe or if not very close to it.
That sounds right, but I’m no expert on PELL. I’d ask the financial aid office. I’m certain they’ve been asked before.
In fact, it could be free (aside from any alternative credit, like Study, which isn’t eligible). Don’t forget about the tax credit via AOTC. If the institution is eligible for financial aid, the first $2k of tuition should be returned as a tax credit (not deduction), and 25% of the next $2k. $2500 total, for up to 4 years. If you pay less taxes than $2500/yr, you can still get up to, I think, 40% of that back. The school issues a 1098T that lists any aid received, and eligible expenses.
IRS has the full info with restrictions:
https://www.irs.gov/credits-deductions/individuals/aotc
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