Pell Grant Limit?

Hello,

I really need someone to explain to me how long one can obtain a
Pell Grant and a Student Assistant grant and all of that. I go to a
University that has the oddest department of financial aid I have ever
seen. I made no realmoney last year and I got a Student Educational
Opportunity Assistance grant of $250 fall and $250 spring. I got a
Pell Grant also and even a partial scholarship. I am just wondering
how long one is eligible to recieve Pell Grants and whatnot becuase I
have bad credit and do not qualify for loans of any sort. I do
everything humanly possible to keep my grades really high for any
upcoming scholarship opps and whatnot. I even opted not to live on
campus so that I would not have all too much to worry about with
regards to obtaining funding for on campus housing and whatnot. The
school I go to is called the University of Memphis and it is roughly
3,850$ a semester tutition. I made roughly 3,000$ last year in yearly
earnings and even that in no way really worked to my advantage for
financial aid. My low yearly earnings did not stem from my wanting to
get the motherload in finacial aid, I had family responsiblities and
could not work all too very often. I just cannot help but wonder how
long one is deemed eligible for grants and whatnot, is their a limit
to how long you can get grants? I would rather know of that now than
be facedf with it later on. Maybe Steve Blank can answer my question?
Pretty Please!?

peace

mary

Continuation of financial aid requires that the student maintain
Satisfactory Academic Progress both by maintaining satisfactory grades
and within a certain time frame.

For the time frame, there is something called the "150% Rule." It means
that financial aid may continue for a maximum of 150% of the normal time
needed for the particular degree as determined by your college. For
example, a student attending a full-time 8 semester (4 year) program may
receive aid for no more than 12 semesters. Each school sets it's own
rules and some may be stricter, so you'll want to ask if you think you
will be going longer than normal.

This is the wording from the 2003-2004 Federal Student Aid Handbook:

"To quantify academic progress your school must set a maximum
time frame in which a student is expected to finish a program. For an
undergraduate program this cannot exceed 150% of the published
length of the program measured in academic years or terms, credit
hours attempted, or clock hours completed, as determined by your
school. For instance, if the published length of an academic program
is 120 credit hours, the maximum time frame must not exceed 180
(120 x 1.5) attempted credit hours."


--
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Cheshire, CT 06410
(203)250-7761

merlinjones wrote:
> Hello,
>
> I really need someone to explain to me how long one can obtain a
> Pell Grant and a Student Assistant grant and all of that. I go to a
> University that has the oddest department of financial aid I have ever
> seen. I made no realmoney last year and I got a Student Educational
> Opportunity Assistance grant of $250 fall and $250 spring. I got a
> Pell Grant also and even a partial scholarship. I am just wondering
> how long one is eligible to recieve Pell Grants and whatnot becuase I
> have bad credit and do not qualify for loans of any sort. I do
> everything humanly possible to keep my grades really high for any
> upcoming scholarship opps and whatnot. I even opted not to live on
> campus so that I would not have all too much to worry about with
> regards to obtaining funding for on campus housing and whatnot. The
> school I go to is called the University of Memphis and it is roughly
> 3,850$ a semester tutition. I made roughly 3,000$ last year in yearly
> earnings and even that in no way really worked to my advantage for
> financial aid. My low yearly earnings did not stem from my wanting to
> get the motherload in finacial aid, I had family responsiblities and
> could not work all too very often. I just cannot help but wonder how
> long one is deemed eligible for grants and whatnot, is their a limit
> to how long you can get grants? I would rather know of that now than
> be facedf with it later on. Maybe Steve Blank can answer my question?
> Pretty Please!?
>
> peace
>
> mary