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Federal Financial Aid-First Come First Serve?

If federal financial aid first come first serve?

I am just curious I am going back to school as a post undergraduate. I applied at my former college and was dissatisfied with the changes to the school. Before I actually started this school year I was awarded 11,000 for the full year. I applied at another school and was accepted one month before the spring semester is suppose to start. I was only awarded 2,500 for the one semester. I am thinking this is because it is so late in the year. Is that the case

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  • dawncs
    Lv 7
    1 decade ago
    Favorite Answer

    Yes, the award is low because is late in the school year. The Pell Grant only covers up this year to $4300 in tuition for the entire year. Your financial aid award is also made up of the state grant, scholarships from the college's endowment fund, and student loans. Scholarship endowment funds vary from college to college, and the top two are Harvard and Yale which amounts to the billions of dollars. The endowment fund is first come first served, and there could be no more remaining until the next academic year which begins in the fall. It is also too late to find outside scholarships to make up the difference. You could finish out the school year with your dissatisfied school and transfer next fall, or you could use student loans to make up the difference. Good luck!

  • 1 decade ago

    Yes, it sounds like that is the case. Not only are loans on a first come first serve basis, but so are the grants, scholarships, work study, etc. monies available.

    Also, that school may have different award parameters than the previous school you attended. They are not all the same.

  • SMS
    Lv 5
    1 decade ago

    Yes, federal aid is first come first serve. However, your problem could also be that you used up the maximum limit for federal financial aid already at your first school.

  • 5 years ago

    I at present attend college of Phoenix and definite they do settle for federal economic help, simply by fact I even have used it to pay for my training hence a techniques. don't have self assurance the fool asserting that it is not known via HR workers. If UoP replaced into no longer a valid college there does not be federal investment to available for it. talk with your enrollment cousellor and that they'll walk you for the duration of the economic help area in case you % any help with it.

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