How much did you have left over from financial aid?

If my summer semester classes cost $510, how much can I expect to be left over from financial aid?

• My summer semester classes cost $510.00 but I plan on going in the fall too. I was told that if I was approved for financial aid I may recive around $5600 but I am not sure how much ...show more

• Answer:

  How many credits is that 510 dollars for during the summer? A lot of colleges would approve financial aid to students who have less than 1/2 time status (6 credits if your institution considers full time 12). If that's the case, you'll have 5600 dollars left. For pell grant money, most institutions will divide it equally between the different semesters. So if you have 5600 and your school has 2 semesters that you plan to attend full time, you will receive 2800 per semester. If you go part time, but at least half time, you might only be awarded 1400 per semester. You won't ever see any of this in a refund if you don't spend it. Loans may be divided equally as well. The difference with loans compared to grants is if you don't spend it, you will receive a refund of the left over. You should put this aside for future education expenses, but it is your money and no one will know what you spend it on. So, it depends on a lot of different factors. The money is awarded by school year not calendar year. So, if you received 5600 that isn't just for now until December 31, it is for the entire school year. I'm not sure if summer is considered 2013/14 school year or 2014/15 school year. The financial aid office at your institution can answer these questions much better than anyone on Yahoo Answers. For answers you can depend on, set up an appointment with a financial aid officer/advisor.