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+--- Forum: UMPI - University of Maine at Presque Isle Discussion (https://www.degreeforum.net/mybb/Forum-UMPI-University-of-Maine-at-Presque-Isle-Discussion)
+--- Thread: UMPI---Financial aid---??? (/Thread-UMPI-Financial-aid--47327)
UMPI---Financial aid---??? - midnite123 - 08-29-2024
Hi,
I just talked to a friend of mine.
He wants to get a BA.
I told him about UMPI.
He qualifies for a full Pell grant,
and full federal financial aid.
He is a dedicated hard worker!
So,
He wants to enroll at UMPI {your pace}
He wants to take
12 credits for the fall session,
and
12 credits for the spring session.
My question is,
will these credits give him access to HIS full Pell grant and FA???
The way he had it figured,
he should have $4k+ per semester left over,
for living expenses,
after paying tuition, etc
I looked at all his paperwork and college plans,
and it seems like this should work out as planned.
I was hoping someone here could let me know their opinion on this,
and any possible guidance????
THANX
PS---He is going to use his spare time and college downtime,
to get Sophia,
Study, and Modern States credits.
PSS---If this concept is correct,
I thought it was clever to have his college paid for,
and collect $2k per month for each 8 week term!!
RE: UMPI---Financial aid---??? - ss20ts - 08-29-2024
He will need to file the FAFSA and wait for UMPI to give him a financial aid offer. No one can say how much he will receive as everyone's situation is different. What does "full federal financial aid" mean? There are income requirements, past college experience, GPA requirements, etc. that go into a financial aid award.
12 credits in the Fall and 12 credits in the Spring? UMPI's YourPace program operates on 8 week terms so there are 2 Fall sessions. 12 credits in the Fall would only be 2 classes per term. This program is not like a typical 15 week long semester based program.
Financial aid awards cover entire semesters not terms. So the Fall award would cover both Fall 1 and Fall 2 terms. You're really way over estimating the finances by saying he'd collect $2K a month for each 8 week term.
RE: UMPI---Financial aid---??? - bjcheung77 - 08-29-2024
The only way to find out is to apply to UMPI and also for financial aid... report back with what UMPI informs you and we can then advise you steps to take going forward... Preliminary questions are great, but we don't have the full numbers from UMPI or Fin Aid yet...
RE: UMPI---Financial aid---??? - midnite123 - 08-30-2024
(08-29-2024, 09:18 AM)ss20ts Wrote: He will need to file the FAFSA and wait for UMPI to give him a financial aid offer. No one can say how much he will receive as everyone's situation is different. What does "full federal financial aid" mean? There are income requirements, past college experience, GPA requirements, etc. that go into a financial aid award.Hi,
12 credits in the Fall and 12 credits in the Spring? UMPI's YourPace program operates on 8 week terms so there are 2 Fall sessions. 12 credits in the Fall would only be 2 classes per term. This program is not like a typical 15 week long semester based program.
Financial aid awards cover entire semesters not terms. So the Fall award would cover both Fall 1 and Fall 2 terms. You're really way over estimating the finances by saying he'd collect $2K a month for each 8 week term.
Thank you for your reply!!!
As much as I wanted to be clear in my original post,
I made a mistake!
I meant to say MAXIMUM FEDERAL LOAN,
not Fed FA.
I guess my first question is,
I know about the 8 week terms.
In those 8 week terms,
are you only allowed to take 6 credits, or can you take more than that?
He did get FASFA results of approximately $15,000,
when combing the Pell grant and Max loan amounts.
RE: UMPI---Financial aid---??? - ss20ts - 08-30-2024
Everyone starts off with 6 credits per term. You can complete as many courses as you can during a term. He should read the forum about UMPI. There are hundreds of posts about how UMPI works.
It's never recommended to take the full loan amount. It has to be repaid with ridiculous interest rates. Repayment begins faster than it seems possible. And the payments aren't cheap.
RE: UMPI---Financial aid---??? - Duneranger - 08-30-2024
Taking out COL loans for UMPI is incredibly shortsighted.
If you are going to med school, fine, but UMPI? No.
RE: UMPI---Financial aid---??? - midnite123 - 08-31-2024
(08-30-2024, 03:51 PM)Duneranger Wrote: Taking out COL loans for UMPI is incredibly shortsighted.
If you are going to med school, fine, but UMPI? No.
I understand.
He could actually pay for UMPI with just his Pell grant.
What he wants to do,
is borrow about $15k over 2 years.
Nothing huge.
Thank you!!!
RE: UMPI---Financial aid---??? - midnite123 - 09-04-2024
I didn't want to start a new topic.
I talk to people all the time now about things I learn here.
I was talking to college age guy,
who is going to Ramapo University in NJ.
He is a commuting sophomore.
He wants to graduate from Ramapo as fast as possible,
and get his BS in 3 years,
instead of 4 years.
He already took a few CLEP tests to speed things up.
He needs to average 40 credits a year.
I gave him an idea.
just want to check with all of you.
Key point,
he is smart, ambitious, and has Great time management skills!
I told him to continue doing what he is doing,
but also take some of the easier classes at UMPI,
during the summer and try for 9-12 credits.
In addition to that,
he said he could knock out,
6 credits during the current fall semester.
He will diligently check,
to make sure any classes he takes will transfer.
My only question is,
since UMPI is an RA school,
do you think most colleges would accept their credits?
I know it is the opposite of what we would do,
but I thought it could be a great strategy for Brick and mortar students.
THANX!!!!