Online Degrees and CLEP and DSST Exam Prep Discussion
Pell grant - Printable Version

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Pell grant - creditmonsoon - 06-11-2016

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

Pell grant - rebel100 - 06-11-2016

creditmonsoon Wrote:I wonder if I could use a pell grant on the cornerstone and graduation fee. $300+ saved. Is it possible?
yes, but you have to be enrolled in 6 credits for half the grant, 12 for full...that's per semester. The big 3 are pretty expensive so consider a consortium agreement for the extra classes....did mine through CSU Pueblo.

Pell grant - cookderosa - 06-12-2016

So here's the math. If you get a full Pell, that's about $5,600 for a year, but in exchange, you have to take 30 credits that year. (full time) $5,600 / 30 = $187 per credit "gifted" to you. Beyond tuition, you have the cost of books and other misc expenses, so figure that in.

Pell goes the furthest when you're at a college under $187 per credit.

If attended a more expensive college, which causes you to borrow, you may end up with a debt burden to simply receive your "gift."

If you only need 1-2 classes, you'll come out WAY ahead if you save and pay cash.

Pell grant - Mamasaphire - 06-12-2016

cookderosa Wrote:If you only need 1-2 classes, you'll come out WAY ahead if you save and pay cash.
Is there a reason a student shouldn't save and pay cash *as well* as utilize the Pell Grant?

For instance with the $1500.00 TESU Capstone, even a $450.00 Pell Grant would help....

Pell grant - dfrecore - 06-12-2016

Mamasaphire Wrote:Is there a reason a student shouldn't save and pay cash *as well* as utilize the Pell Grant?

For instance with the $1500.00 TESU Capstone, even a $450.00 Pell Grant would help....

If my math is correct, for 1 semester, you could receive up to $2800 ($5,600/2). But in exchange, you would have to take 15cr. Which means you would have to pay $7,485 (15cr x $499/cr) to get that $2800. So you would end up paying net $4685 for the semester at TESU for 15cr.

If you tested out of 12cr at $100/course ($400 total for 4 course), and paid for the capstone yourself at $1500, you would only pay $1900.

I think you can make it work better if you find a less expensive school to take courses, get your full Pell grant, and keep the leftover money for the capstone. But it only works if you can get through a semester/year with leftover money and you actually save it (or use it for further testing out).

Pell grant - bjcheung77 - 06-13-2016

I've never applied for grants/scholarships or bursaries, etc, or even a loan. I always paid out of pocket of hard earned $ and savings.
But isn't a grant/scholarship/bursary free money, in otherwards, no need to pay back... obviously a student loan, you will need to.
I should research this and find out...

Pell grant - rebel100 - 06-13-2016

I'm pretty sure it's only 12 hours per semester for full time, 6 for part time. Which equates to only 24 hours/year for full time. https://osfa.uga.edu/policies/enrollment-and-financial-aid/enrollment-status-for-financial-aid-purposes

There was talk of changing this to 30 hours/year but I don't believe it ever happened.

PELL funds are essentially a gift from the taxpayers through the federal government....they do not have to be paid back.

Pell grant - cookderosa - 06-13-2016

rebel100 Wrote:I'm pretty sure it's only 12 hours per semester for full time, 6 for part time. Which equates to only 24 hours/year for full time. https://osfa.uga.edu/policies/enrollment-and-financial-aid/enrollment-status-for-financial-aid-purposes

There was talk of changing this to 30 hours/year but I don't believe it ever happened.

PELL funds are essentially a gift from the taxpayers through the federal government....they do not have to be paid back.

Even better! Wink Thanks for the correction.

Pell grant - bricabrac - 06-13-2016

For clarity, TESU's calendar is a bit different; the Pell grant is split over 4 semesters, not 2.

Pell grant - Mamasaphire - 06-13-2016

dfrecore Wrote:If my math is correct, for 1 semester, you could receive up to $2800 ($5,600/2). But in exchange, you would have to take 15cr. Which means you would have to pay $7,485 (15cr x $499/cr) to get that $2800. So you would end up paying net $4685 for the semester at TESU for 15cr.

If you tested out of 12cr at $100/course ($400 total for 4 course), and paid for the capstone yourself at $1500, you would only pay $1900.

I think you can make it work better if you find a less expensive school to take courses, get your full Pell grant, and keep the leftover money for the capstone. But it only works if you can get through a semester/year with leftover money and you actually save it (or use it for further testing out).

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??