Federal Aid Programs
Federal Pell Grant (PELL)
PELL Grants are available to undergraduate students only. Students with a bachelor’s degree are not eligible. Each year Congress establishes the maximum Pell Grant award based on enrollment level. The following chart shows how PELL Grant awards are adjusted based on enrollment:
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6 to 8
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Half-time
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50%
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9 to 11
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Three-quarter-time
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75%
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12 or more
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Full-time
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100%
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Some students may be eligible to receive a PELL grant for enrollments less than six credit hours. Aid recipients receive tentative award letters after eligibility has been determined for a particular award year.
Lifetime Eligibility Used—The amount of Federal Pell Grant funds a student may receive over their lifetime is limited by a new federal law. The limit is the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding students may receive each year is equal to 100%, the six-year equivalent is 600%. There is no appeal of this limit. Current students and those who have previously attended college may view their personal Pell and loan information at www.nslds.ed.gov.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is a federal grant for undergraduates with exceptional financial need. Since these funds are limited, only Pensacola State College Pell Grant recipients with zero Expected Family Contribution (EFC) will be awarded FSEOG funds. The award amount will vary per academic year and federal funding levels. Awards are available during the Fall and Spring semesters only. A minimum enrollment of half-time each semester is required for a student to receive a partial award.
William D. Ford Federal Direct Loan Program (FDLP)
Federal student loans for educational expenses may be subsidized or unsubsidized. Students who have exhausted all other resources may request a federal student loan. Additional student eligibility criterion apply and additional steps must be taken on the part of the student and college prior to the awarding of a loan. Students must submit the “Free Application for Federal Student Aid” online at www.fafsa.gov as their first step. Students, and their families, must review the information at the United States Department of Education (USDOE) website, www.studentloans.gov, and in the “Pensacola State College Guide to Federal Direct Loans” on the Financial Aid page at www.pensacolastate.edu. Prior to submitting a college loan request form to the Financial Aid/Veteran Services/Scholarships office for eligibility evaluation and processing, the student must complete Entrance Loan Counseling (ELC) and a Master Promissory note (MPN). As a part of the college’s default prevention a student must complete both of these processes each time a student requests a loan. Enrollment of half-time in a standard semester is required. Students should limit loan use for required courses in their primary program of study at the College.
Note: The school may refuse to certify a loan or certify a loan for an amount less than the student requests. All students including transfer students are required to have a cumulative grade point average of 2.0 and a completion rate of 67% in order to apply for a Direct Loan. As part of default prevention, loan limits apply based on level of earned credits in the students program of study at this college and total amount of funds previously borrowed. Loans are funds that must be repaid.
Parent Plus Direct Loans
This is a loan program which enables credit worthy parents to borrow money for the educational costs associated with the student’s education at Pensacola State College. The dependent must be degree-seeking and enrolled at minimum half-time in courses required for their program of study. PLUS loans are limited in amount to the cost of attendance minus any other financial aid received by the student. The USDOE requires the student to complete the FAFSA and any required verification processes before the school may process a PLUS loan. Parents who are denied a Direct Loan after their credit has been checked by the USDOE, may appeal directly to the USDOE and/or may request to have credit worthy endorsers added to the loan.