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Federal Financial Aid for Nontraditional Students
By Robyn Tellefsen
Nontraditional students earning nontraditional credentials from nontraditional schools may think their financial aid options are limited. Think again. The Basics
Heres the truth: Federal financial aid is available to those enrolled in eligible programs at accredited schools (learn more about accreditation here) participating in federal financial aid programs.
Lets break that down. An eligible program is one that leads to an academic, professional, or vocational degree or certificate, or other recognized educational credential. You read right -- nontraditional students enrolled in trade schools and certificate programs qualify!
And you dont have to be enrolled full time, or even part time, to be eligible. In fact, to qualify for the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Work-Study, and Federal Perkins Loan programs, you can be enrolled less than half time.
Federal Pell Grant
Pell Grants are available almost exclusively to undergraduate students, but you might also qualify if youre enrolled in a post-baccalaureate teacher certificate program. Amounts can change yearly; annual award limits were $400 to $4,050 for 2006-2007. The amount of your Pell Grant depends on your cost of attendance, expected family contribution, enrollment status, and whether you attend for a full academic year or less. You may receive only one Pell Grant in an award year, and you may not receive Pell Grant funds from more than one school at a time. Pell Grants do not need to be repaid.
Federal Supplemental Educational Opportunity Grant
The Federal Supplemental Educational Opportunity Grant (FSEOG) is for undergraduates with exceptional financial need -- those with the lowest expected family contribution numbers. Annual award limits are $100 to $4,000. The amount of your FSEOG depends on when you apply, your financial need, the amount of other aid youre receiving, your schools funding level, and the policies of your schools financial aid office. The FSEOG does not need to be repaid.
Federal Work-Study
Under the Federal Work-Study program, you can work part time to earn money for your education while youre enrolled in school. Your total award depends on when you apply, your financial need, and your schools funding level.
Federal Perkins Loan
Perkins Loans are made through participating schools to undergraduate, graduate, and professional degree students. Undergrads can borrow up to $4,000 a year ($20,000 total). The amount of your loan depends on when you apply, your financial need, the amount of other aid you receive, and the availability of funds at your school. You have up to 10 years to repay this loan to your school. Students, begin your search for schools here and your quest for federal financial aid at www.FederalStudentAid.ed.gov.
To find college and career schools near you, surf http://www.CollegeSurfing.com.
© Copyright 2007
The CollegeBound Network
All Rights Reserved
NOTICE: Article(s) may be republished free of charge to relevant websites, as long as Copyright and Author Resource Box are included; and ALL Hyperlinks REMAIN intact and active.
About the Author:
Robyn Tellefsen is a frequent contributor to The CollegeBound Network. Learn more about finding a school or career thats right for you!
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