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The U.S. government has set new rules for financial aid. Most of these changes went into effect with the 2012-2013 award year, which began July 1, 2012.
Here’s a summary of the new rules and how they may affect you. For more information, visit http://studentaid.ed.gov.
Students Without a High School Diploma
Federal Pell Grant Program — Duration of Eligibility Rule
A new federal law limits the amount of Pell Grant funds that each student can receive. This new lifetime limit of Pell Grant funds has been set at the equivalent of six years (600 percent) or 12 semesters as a full-time student.
A scheduled Pell Grant award is the maximum amount that you can receive in a school year, and it represents 100 percent of your Pell Grant eligibility for that school year.
The Lifetime Eligibility Used (LEU) is the total percentage of Pell Grant funds used. It is calculated by comparing your scheduled award amount with the actual amount that you received.
Note: This new Pell Grant Lifetime Eligibility Used rule includes students who received a Pell Grant before July 1, 2008. (The previous 18-semester Duration of Eligibility rule did not.) Anyone who has ever received a federal Pell Grant award will be limited to the Lifetime Eligibility of six years (600 percent) or 12 full-time semesters.
Expected Family Contribution (EFC)
Contact the Financial Aid Call Center or visit one of our campus Financial Aid Offices.