I'm going to a community college and I'm already more than 70 units. I'm transfering in a year to a state college. If I cap on units here and don't get financial aid anymore, will they look at that after I transfer? Will It reset after I transfer and I can continue getting financial aid?
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I just recently passed a new regulation regarding Pell Grants. Each new applicant for FAFSA (meaning they have never recieved any Pell grants yet) will have 600% of Pell Grants availble to them. 600% equals roughly 6 years (12 semesters) of Pell Grants. Each semester you use will reduce your percentage by 50%. When you transfer to a new school/ university your Pell Grant usage will continue. You will not have a resetted amount of Financial aid. So you currently have 70 units, lets say when you transfer you have 90 units and you used Pell Grants to pay for all the units, you would approx have used already used 5 semesters/250% of your 600% (assuming you did 18 units per semester). That means if you transfered you would have 7 semesters/350% left of Pell Grants to pay for your reamining classes required to get your Bachelors.
Please use your Financial Aid responsibly and use any leftover funds towards your graduate degree :-)
once you transfer it will be okay... the number of units for a bachelor's degree is higher than the number of units for an associates degree
in all cases, it is 150% of the credits required for the degree
so if you associates degree is 60 credits, you get capped at 90
if your bachelors degree is 120 credits, you get capped at 180
it is true the lifetime maximum use was decreased from 8 years to 6 years.. that was a couple of years ago
usually the 150% cap will hit you before the lifetime maximum... and at that point, you can not get more funds, even if lifetime limit is not hit & even if you have not completed your degree
sometimes, when you change majors, you will hit lifetime maximum before you hit 150% of credits... you still run out of funding before you complete your degree
stay on course & finish your degree without a bunch of extra classes, without a bunch of withdrawals, and with a high GPA... then you won't run into a problem
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