<p>I am currently a community college student, and receive a full Pell Grant. I am concerned because I have received the grant for 3 years after this upcoming semester. I am aware of the lifetime limits of eligibility, and since I want to transfer to a 4-year college, I do not want to use all of the Pell grant funds I would be eligible for at my community college. </p>
<p>Unfortunately, I have to stay at my community college another year in order to finish my Associates Degree, and I do not want to use my Pell grant during that time. I was going to try and scrimp and save every dollar I could to pay for tuition, but I do not think that will cover enough. Is it possible to fill out the FAFSA, be granted a Pell Grant, decline it, but apply for work study? Work study covers any unmet need, correct? Only, if I decline a Pell grant, how can I justify applying for work study?</p>
<p>I am trying to strategize and make sure I am not left without possible funds at a more expensive 4-year college or university once I transfer.</p>
<p>You don’t apply for work study. You are awarded work study.</p>
<p>In addition Work Study funds are not given to you until you earn them. Most community colleges want their money at the time of registration. How will you pay your tuition bill at that time?</p>
<p>If you get the Pell this year, and are able to cover all of your costs without it, you will have that Pell amount as a surplus. Put it in the bank and save it for the future.</p>
<p>And apply for regular jobs.</p>
<p>Take the Pell and bank it. </p>
<p>I think you get up to 6 years of Pell…12 semesters…if so, you’re fine.</p>
<p>
Why? Does Associate Degree help you to transfer to 4-year school?</p>
<p>
No. Work Study is what is called campus based aid. This means a school is given a set amount of dollars for the year and sets their own policy on how best to allocate those funds. The funding is very limited and schools have more eligible students than available funds. The funds are awarded on a first come first service basis and if you were not awarded WS in your aid package, it is unlikely the funds will be available to award to you now.</p>
<p>Also, WS does not cover unmet need. You do have to have unmet need to be considered for it, but funding is limited and it is unlikely to meet full need unless that need is relatively low. Also remember you have to find a WS job and will be paid with a paycheck based on the number of hours you work each pay period (just like a regular job). The money will likely not be available to pay tuition and fees (the couple of times my daughter received WS she used it for living expenses. FWIW, she had the same need every year and was only awarded WS twice as the other times they ran out of funds before they processed her financial aid application and we always applied very early. Despite having unmet need those other years, they could not give her WS as they had no funds left to award).</p>
<p>Take the PELL unless it is lower than you are pretty sure you will be getting in the future, and bank it. If you keep it in an isolated account, it will not count as reported assets. I say this because many things can happen in the future so that you don’t get it. The PELL program could be cut or eliminated. You may not qualify for a number of reasons. There are benefits to a bird in hand.</p>