financial aid

<p>Hi, my son will be attending his 3rd year of college this fall with a 3.5 gpa. Last year he was given an FSEOG grant along with a perkins loan. Nothing has changed on my Fafsa and this year he did not receive the FSEOG grant or the Perkins Loan. The FA office simply said he was not offered the grant without any explanation and if the perkins loan becomes available he will be offered it. Is this uncommon and also, what are his chances of being offered the loan before the semester begins...thanks for any advice.</p>

<p>The FSEOG grant and Perkins loan both have limited funding. It is very possible the school ran out of funding. </p>

<p>I have never received either of these so I don’t know if there is any chance he could still get them. Others will chime in here and let you know.</p>

<p>As an upperclassman he is eligible for an increase in Stafford loans.
Has the amount of his Pell grant changd?
Students who recieve Pell, also recieve FSEOG grants first.</p>

<p>His Pell grant has not changed from last year to this year. I am aware he is eligible for the increase in Stafford loans, I was just curious as to how they can give him an FSEOG grant one year and offer him a perkins loan and then nothing the next. I was not aware this particular grant and loan were based on funding. I understand the grant being based on funding, but the perkins loan will have to be paid back so this confused me as to why it’s based on funds available. His financial aid was posted yesterday in terms of what he was offered/awarded…i was just curious as to whether or not a perkins loan would become available to him before the fall. Thanks</p>

<p>Thank you for the response</p>


Both FSEOG & Perkins are administrated by the school and most likely are first come first serve.
Possible reasons that you didn’t get them this year:

  1. You file your FAFSA later than last year
  2. More students filed their FAFSA earlier than you
  3. The school might allocate more to the freshman students</p>

<p>FSEOG and Perkins Loans have limited funding provided to them at each college campus. Both at awarded on a first come/first served basis…based on the initial filing date for the FAFSA this year. This is why it is VERY important to get the FAFSA done ASAP after January 1, even if it is with estimates.</p>

<p>The Perkins also has another twist. It is awarded to the school’s lower Income applicants…and this too can vary for year to year. Last year, you were amongst the lower income applicants, but perhaps this year you were not.</p>

<p>As others have said, neither the FSEOG nor the Perkins are entitlements, and schools have limited funds from those programs. There is NO guarantee that anyone gets the money in subsequent years.</p>

<p>Most schools, however, do give similar dollar dollar amounts of aid, with a major difference being that each year the student is expected to contribute MORE towards his education. Just about all schools, even those that guarantee to meet all need have that built into their formulas. Also, the costs of the schools tend to go up.</p>

<p>What is the difference in what the bottom line of what you and the student have to pay , this year vs last year? How much was lost from the FSEOG and Perkins being pulled, in terms of dollar amounts, and did the school increase anything else to make up for those funds being gone? Does this school guarantee to meet full need?</p>