I am enrolled at a State College and I have state and Federal grants. I was wondering if they are broke up over a all three semesters or only two. I am soo confused. How does the year run? Does it run from fall/winter, spring, summer? or does it run from Summer, fall, spring? If I goto summer school do I get more back??
2007-07-10 11:36:28 · 3 answers · asked by Megan Michelle 4 in Education & Reference ➔ Financial Aid
School year runs July to June. When you filled out your FAFSA it asked you the terms you will be attending school. If you marked Fall and Spring..you will get half of your money each term.. However if you then decide to go in the summertime..the funds are gone with the exception of maybe a student loan or work study. If you marked all year, it will be split into 3 terms. hope that helps
2007-07-10 12:00:52 · answer #1 · answered by chilover 7 · 0⤊ 0⤋
That depends on the school. Generally if you attend a semester school the funds are divided between fall and spring and if you attend in the summer you can use what ever is left over (if you did not attend full time or borrow everything you were eligible for). Some schools use summer as a 'header' in which you can use funds in the summer then the fall and what ever you have left over in the spring but this is not the norm. At a quarter system school you have more of a chance of a system where they divide the funds between 3 quarters and the 4th quarter you get what ever is left over and potentially be able to borrow new loans every 3 quarters but that can lead to a lot of extra loan debt so be careful. Talk to your financial aid office and see what they say, most have you complete extra paperwork to attend school in the summer and receive financial aid.
2007-07-10 19:48:57 · answer #2 · answered by appylover 4 · 0⤊ 0⤋
The academic year and the financial aid year COULD be two different periods, but usually most schools use the fall as a header and your aid is awarded for fall, spring, and/or summer. Some schools will first award you for fall and spring and then summer later with additional paperwork. If and only if there there is eligibility left. Ask the school for clarification. It will vary from school to school.
2007-07-13 22:51:55 · answer #3 · answered by John 3 · 0⤊ 0⤋