FOR RELEASE: April 20, 2012
GALLUP –An
adjustment to the federal Pell Grant program is likely to impact
thousands of college students nationwide who are receiving financial aid, as it
reduces the number of semesters students are eligible to receive the award.
At the University of New Mexico-Gallup, Financial Aid
advisors are notifying students of these changes, and warning some that they
may find they have already exhausted their awards when they enroll in the fall.
The Pell Grant, which grew out of federal legislation of the
late 1960s that provided funds for low-income students to attend college,
currently allows students to use the grant for a total of 18 semesters. Starting
in the fall of this year, or after July 1, students may receive the grant for
only 12 semesters, or the equivalent of six years. That means if a student was
enrolled for a minimum of 12 credits any semester prior to Fall 2012, that
semester will be counted toward the maximum total allowed. Students enrolled
for less than 12 credits during any one semester will be calculated at a
part-time rate. The Pell
Grants are available only for the fall and spring semesters.
The change affects any student using Title IV funding
attending any college or university in the country. All colleges and
universities will be monitoring students’ Pell awards throughout their academic
history through a national website.
Students who enroll for the fall semester who have
previously been awarded Pell Grants should discuss with a Financial Aid
representative how much longer they are eligible to receive the funding, as
well as alternative types of funding, such as student loans or scholarships.
This month the Department of Education
began sending emails to all 2012-2013 FAFSA applicants who appear to be nearing
their lifetime limit. Students may also
view their percentage of Pell grant used by logging into www.NSLDS.ed.gov.
For more information on the new Pell Grant rules, UNM-Gallup
students may contact Financial Aid at 505.863.7663.
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