+- Online Degrees and CLEP and DSST Exam Prep Discussion (https://www.degreeforum.net/mybb)
+-- Forum: Main Category (https://www.degreeforum.net/mybb/Forum-Main-Category)
+--- Forum: General Education-Related Discussion (https://www.degreeforum.net/mybb/Forum-General-Education-Related-Discussion)
+--- Thread: CLEP and Financial Aid Disbursements (/Thread-CLEP-and-Financial-Aid-Disbursements)
CLEP and Financial Aid Disbursements - omo43 - 06-19-2012
Hi
I want to attend a local university, but I want to CLEP out of the intro freshman credits and one semester of sophomore credits. I was wondering, will I
be required to take on 15 credits a semester in order to get financial aid disbursements? How will this affect refund checks? Will I essentially get all of the excess back in a refund check? My EFC will be zero, so I expect to get a combination of loans as well as grants.
CLEP and Financial Aid Disbursements - sanantone - 06-19-2012
You need to take at least 6 credits per semester to be eligible for financial aid. That will only get you half of the maximum amount of financial aid you qualify for. To be considered full-time and to get the full disbursement, you need to take at least 12 credits per semester.
How much you get back depends on the cost of tuition at your school. You will get any excess back in a refund check. I used my refund check to pay for CLEPs and DSSTs.
CLEP and Financial Aid Disbursements - Tedium - 06-19-2012
sanantone Wrote:You need to take at least 6 credits per semester to be eligible for financial aid. That will only get you half of the maximum amount of financial aid you qualify for. To be considered full-time and to get the full disbursement, you need to take at least 12 credits per semester.
How much you get back depends on the cost of tuition at your school. You will get any excess back in a refund check. I used my refund check to pay for CLEPs and DSSTs.
^That. Also, be prepared to wait at least a few weeks before they send out your check, if you get one. You should get some sort of bill that tells you exactly how much all of your classes cost and how much financial aid you are getting. You should be able to do the math and figure out your refund from that. Call your school's financial aid office to get that information, if you don't have it already.
My suggestion would be to talk to your advisor and let them know that you will be CLEPing out of those classes, so you can schedule others instead. It may be a little more difficult if the classes you want to CLEP are pre-reqs for others. It may take a bit of planning, but it shouldn't be too much trouble.