Financial Aid Trolls on Reddit Ruining my Joy

I got into Penn LPS online last night and they didn’t offer info about my aid before I was required to accept my offer. I always get the Pell grant and loans as I am over 24 and have almost no income so I wasn’t worried. However, trolls on Reddit were telling me that I am likely to get ZERO AID and were being rude. One of them was a student who was denied aid at Penn and then attended USC. I was very happy with my acceptance but now I am worried about the money. Should I genuinely worry? There are some private scholarships available but I missed the deadline because I’m a last minute transfer and will have to wait.

Well, they’re right. Other than Pell Grant, loans, or any outside scholarships, there is no FA offered.

i was referring only to the pell grant --saw your edit. thanks. i didn’t know any schools even offered aid other than the pell grant.

The Pell Grant is an entitlement grant. If you are eligible for this grant, you will get it. The amount is based on your FAFSA EFC.

My EFC is 0.

Then you are entitled to the full Pell Grant of just over $6000…assuming you haven’t exhausted your Pell eligibility.

So with basic FAFSA stuff and being an independent student my maximums should be around 20 something K (with fed pell and loans) which is what i was gunning for then. I am actually probably a sophomore now, so the amounts may be different.

I’m a second semester sophmore at my previous school but I’m expecting to lose my ACE credits at a place like Penn. So I may be a late freshman again unless they convert my 3 credit courses to 4 credit courses (Penn requires around 30 classes instead of 40.

As a second year college student, you are able to get $6500 plus I think an additional $4000 in Direct Loans in your name. So…$10,500 in loans…plus the Pell which is just over $6000.

That won’t get you to $20,000.

@kelsmom do I have those numbers correct.

There’s one loan that collects interest and one that doesn’t. I can get I think 9500+ loans in my name because I’m an independent student. At least that’s what I usually get offered.

You got offered $5500 plus $4000 as a freshman. Sophomores get $6500 plus the $4000 because you are independent.

I just looked it up. the number is Pell Grant + 9500 per 2 types of loan =19000 or 10500/21000 for a sophomore. I think this is correct because I have taken classes at or applied to a few online adult programs of lesser quality and varying cost and have been awarded aid+loans equaling anywhere from 10K/year (SNHU)- about 30K/year (Drexel). Northeastern CPS once awarded me a private merit scholarship but they reduced it to account for my Pell Grant from so I would have still had loans.

@kelsmom can perhaps answer this accurately.

I just looked it up. The Pell is $6895. And your loans would be $6500 plus $4000.

That is $17,395, isn’t it?

What other aid are you getting that would bring that up to $20,000?

Hey, I’m not going to know how it works until I see it. I just know past programs I’ve gotten into have usually made adjustments based on cost of attendance. Some of the sites I found said 4k was the work study amount. can you link me because I’m having trouble finding it?

Did you get a work study award? It is not automatic…and were the other programs you were enrolled in degree granting programs? Pell is not unlimited…

Work study is awarded by each college…and you have to get a job and earn the money to get that money.

What links do you want. You can do a Google search for Direct Loan for Independent student. And for Pell Grant amount for 2022.

@thumper1 is correct with her numbers. However, if you don’t get enough credits for sophomore standing, the subsidized loan will be $5,500 rather than $6,500. If you earn enough credits for sophomore status for second semester, you can request another $1,000 subsidized loan for second semester. Beyond those guarantees, there is nothing available from the federal government in terms of grants or loans. It’s possible you might get FSEOG if the school has any left to award, but that’s not an entitlement like Pell. The school gets a pool of money for that grant & awards based on internal policies until it’s exhausted.

I should also add that if you already have a bachelors degree, you won’t get Pell. Just wanted to mention it, in case.

How many semesters have you been enrolled? You can use up your Pell without completing a degree…

Actually, how many semesters have you already used your Pell Grant entitlement?

I have only had Pell grants that actually disbursed a couple of times and it was at SNHU for two month terms. I’ve gotten other packages and offers but didn’t go or went for a short time and the money was sent back to govt before the school got it and didn’t disperse. I’ve used tiny amounts of loan on SNHU as well but my mother paid it after I completed my two classes. Many of my credits are from dual enrollment with community college when I was in high school years ago or from the credits I got on Sophia. My mom says she will be nice enough to help with the remainder since I still live with her and my dad. (I am 26 and have ASD so even though I pay my own bills I can’t afford a place with rents being this high) but she just doesn’t want to pay like 6 figures out of pocket for a degree or anything. Even if it’s 17k and it costs 25 then my parents could help with 8k per year, I can get pell, and be responsible for the rest with my own loans.