pell

Financial Aid: Reallocation for Summer Pell

In an effort to better serve the students of GNTC, the Financial Aid Office has changed a couple of processes starting in Fall 2015. In order for students to maximize their Pell Grant, we found that awarding more Pell funds for fall and spring would be more beneficial to GNTC students. The Federal Pell Grant is initially awarded based on full-time enrollment (12 or more credit hours). If a student is not attending full-time for the semester, then the Pell Grant is prorated and will pay out based on hours of enrollment. The remaining amount of Pell that was not disbursed to students will be reallocated to the summer semester.

What does this mean? How does this affect me?

Starting in Fall 2015, students will be awarded 50% of their Pell Grant in fall and the other 50% in the spring semester. If a student is less than full-time during fall or spring, then this student would have remaining Pell Grant for the summer semester. Students would be awarded their remaining eligibility in summer. See example:

New!! 2015-2016 Award Year

Student is awarded for fall/spring semesters based on 12 hours of enrollment. Student is enrolled in 6 hours for fall, 9 hours for spring, and 6 hours for summer.

Initial Awarding:

Semester Awarded Pell Hours Per Semester Paid Pell
Fall $2,865 6 $1,433
Spring $2,865 9 $2,148
Summer $0 6 $0

Summer Awarding:

Funds will be adjusted to match the amount paid to the student and the remaining amount will be reallocated for summer.

Semester Awarded Pell Hours Per Semester Paid Pell
Fall $1,433 6 $1,433
Spring $2,148 9 $2,148
Summer $2,149 6 $1,432

This student has now received/used $5013 of their Pell Grant for the academic year, which is 87.5% of their award.

 

Current. 2014-2015 Award Year

Currently, when a student is Federal Pell Grant eligible their aid is divided equally between three semesters. Each semester –fall, spring, and summer-Pell is awarded at 33.333%. A student only receives the full 33.333% of Pell for the semester if they take at least 12 hours. Also, a student only receives/uses the full 100% of Pell Grant for the year if they attend all three semesters at 12 hours.

Student is awarded for all three semesters based on 12 hours of enrollment. Student only takes 6 hours in the fall, 9 hours in the spring, and 6 hours in the summer semester. Now the students’ Pell adjusts to the hours of enrollment.

Semester Awarded Pell Hours Per Semester Paid Pell
Fall $1,910 6 $955
Spring $1,910 9 $1,433
Summer $1,910 6 $955

This student has only received $3343 in Pell for the academic year, which is 58% of their award.

While this change will affect all students, no student will be negatively impacted by this change. Most students will see an increase in their Pell disbursements but none will see a decrease. Students who are enrolled for full-time both fall and spring semesters can stop by one of the GNTC Financial Aid Offices to discuss their summer options.

You will be able to see this change on your BannerWeb no later than June 15th, 2015.

Please contact GNTC Financial Aid Office with any questions. We hope you have a great semester.

Georgia Northwestern Technical College

Financial Aid Department

Phone:  1-866-983-4682

finaid@gntc.edu