Federal Pell Grant eligibility is restricted to a maximum of 12 full-time semesters or the equivalent number of years.
The calculation of the duration of your Pell grant eligibility will include ALL years you received Federal Pell grant funding. Your Pell grant duration will be determined by adding together each of your annual percentages of the scheduled award that were disbursed to you. A student enrolled full-time throughout the fall and spring semesters would earn 100% of their Pell Grant each year.
Satisfactory Academic Progress Standards for federal financial aid are more restrictive.
Effective July 1. 2012, if you are placed on academic probation you will be ineligible for Pell Grant. SEOG, Federal Work-Study. Federal Perkins and Federal Direct Student Loans. If you can demonstrate exceptional or extenuating circumstances resulted in your failure to satisfy academic requirements you may appeal to receive federal funding. The student’ s academic adviser must submit an “academic action plan” that indicates it will be possible for the student to regain eligibility for the next semester.
Undergraduate Direct Subsidized loan interest rate
Effective July 1, 2014 the Federal Direct Stafford subsidized loan will remain interest-free while undergraduate students are enrolled in school at least half-time, however the interest rate will be 3.76%.
Subsidized loans for graduate students are no longer available.
Graduate students will no longer be eligible for subsidized loans. While the total annual loan limit that students can borrow will remain at $20,500, the full amount will be unsubsidized, accruing a 5.31% interest while in school.