The U.S. Department of Education (DOE) has announced that students eligible for the Pell Grant may be able to receive a third disbursement of Pell Grant during the same academic year. Prairie State College (PSC) will implement "Year-Round Pell Grant" (YRP), beginning summer 2018.
What is Year-Round Pell Grant?
According to theDOE Appropriations Act of 2017, a can Federal Pell Grant funds for up to 150% of the student’s full-time Pell Grant award for an academic year.
- If a student is eligible for $5920 (100%) for a full academic year as a full-time student ($2960 per full-time semester, fall and spring), he/she will be eligible for an additional full-time award of $2960 (50%) for the summer semester.
How many credit hours does a student have to be enrolled in to be eligible for summer Pell grant?
Students who enrolled full time (12+ credits) and received the full-time Pell Grant amount for fall 2017 and spring 2018, must enroll at least half time (6+ credits) in summer classes AND must be otherwise eligible to receive a summer Pell Grant.
For students enrolled part time in fall 2017 or spring 2018, there is no minimum credit requirement to receive a summer Pell Grant (unless required by the EFC). Students can use the remainder of their annual Pell Grant amount during summer with no minimum credit requirement.
Important facts to note:
- Students must be degree or eligible certificate seeking at PSC, therefore, guest students are not eligible.
- Some students used their full loan eligibility over the fall and spring semesters, leaving nothing available for summer. Students who plan on attending in the summer may want to consider reserving some of their loan eligibility for the summer semester.
- The maximum timeframe that students may receive the federal Pell Grant is the equivalent of twelve full-time semesters. One full-time semester of Pell equals 50%.
Students can check their remaining eligibility level online by logging on to nslds.ed.gov, using their FSA ID. The Lifetime Eligibility Units (LEU) can be viewed on the Financial Aid Review page.
- Students should keep in mind that the summer semester is shorter (five or eight weeks), versus most fall and spring semesters (16 weeks). Students should consult with their academic advisor to develop a manageable course load for the shorter summer semester. Just because students may be eligible for full-time Pell Grant funds DOES NOT MEAN students are required to carry a full-time load.
- It is possible to owe money back for all or part of a federal Pell Grant if a student does not complete classes that are registered for in the summer. The amount owed will be calculated based on the drop date, the number of credits, and the last day of attendance.