How much money can I get from FAFSA at a community college?
Tuesday, August 4th, 2009Dear Babs,How much does FAFSA give to community college students? Since you have experience, I was hoping you could give me some clues as to what to look out for. Please help me!
-Frank about FAFSA
—
Dear Frank,
FAFSA is eligible to students enrolled in any institution of higher education (including community colleges) and working towards a degree or certificate. Thus, you are eligible for FAFSA if you’re attending a community college to get your Associate’s Degree or a certificate, but not if you are just taking some courses without the intention of getting your degree. As to what types of aid, and how much you can receive, it depends on a combination of your program of study, financial need, cost of attendance at your school, and your academic achievements. The maximum Federal Pell Grant you may receive is $5,350. The Academic Competitiveness Grant requires the student to have attended a rigorous program in high school and maintain a 3.0 GPA in their program. They cap-out at $750 for your first year in school and $1300 for subsequent years.
As for loans, you can borrow up to $3,500 in subsidized, low-interest loans for your first year, $4,500 for your second, and $5,500 in subsequent years. You can borrow an additional 2,000 a year in unsubsidized loans. Again, the actual amount awarded, in both loans and grants, depends on your demonstrated financial need. This takes into account savings, personal income, family income, and other assets (like property). It also depends on the total cost of attendance at your school, and whether you meet specific academic criteria.
FAFSA considers you for all eligible awards, so there is no harm in applying. Who knows, you may just get the money you need for school!
Good luck!
-Babs














![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=573943e7-07ed-4fd5-98c2-32cf73727d79)


