How does financial aid work?

How does that Financial Aid process work?

• I know it in different states it isn't the same, but I was wondering what it's like in Oregon. I am attending a community college and using Fin. aid to help me through all of my schooling. Now a few questions are: How long will Fin. Aid last until I run out? (Even after I go onto a 4 year college) Will my Fin. Aid get cut off if I don't complete my degree within a certain time? My disbursement was super low and I only got back $280 (compared to the other times I got back around $600) Why is that? Does Federal-Work Study affect my Fin. Aid? Can I not get Scholarships while on Fin. Aid? The whole process is really hard for me to understand completely and I'm just trying to comprehend it more.

• Answer:

  Well I will answer this the best way I can, the federal government will only give you the Pell Grant for your first Bachelors degree (if you meet economic need). A new ruling also came out this week that the federal government will only pay for 12 semesters of Pell grant= about 6 years. If you feel your disbursement is low you should go to your financial aid office and speak to a counselor it can be numerous; why change of income, owed money from pervious semester etc. As for federal work study that is an extra grant that was given to you it is a very small amount its not like it is for $10,000 so no it will not affect your financial aid. Some scholarships require that student have no aid in order for them to receive and some don't really look to see you have. You also have to make sure that if you receive a scholarship you do not exceed you cost of education because then the school will have to return the scholarship. I tried to answer your question with basic knowledge but you should go sit with an financial aid counselor to get accurate information each state and school vary keep that in mind Good luck.