Pell Grant While In Pharmacy School?

[JamesL1585]

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Hey guys... just wondering...

I do not have a degree, and I was wondering if I can get a pell grant while in school... I got this message today from FAFSA:

This SAR has been produced due to a change in your financial aid history
information in the National Student Loan Data System (NSLDS) that may affect
your eligibility for federal student aid.

You are not eligible to receive a Federal Pell Grant because you reported
that you have a bachelor's degree (Item 28) or you are working on a degree
beyond a bachelor's degree (Item 49). Your Financial Aid Administrator will
determine what types of federal student aid you are eligible to receive.

Sooo... just wondering but for the record I DONT have a bachelors degree...

 

[RxWildcat]

You are not eligible to receive a Federal Pell Grant because you reported
that you have a bachelor's degree (Item 28) or you are working on a degree
beyond a bachelor's degree (Item 49). Your Financial Aid Administrator will
determine what types of federal student aid you are eligible to receive.

 

[117296]

Hey guys... just wondering...

I do not have a degree, and I was wondering if I can get a pell grant while in school... I got this message today from FAFSA:

This SAR has been produced due to a change in your financial aid history
information in the National Student Loan Data System (NSLDS) that may affect
your eligibility for federal student aid.

You are not eligible to receive a Federal Pell Grant because you reported
that you have a bachelor's degree (Item 28) or you are working on a degree
beyond a bachelor's degree (Item 49). Your Financial Aid Administrator will
determine what types of federal student aid you are eligible to receive.

Sooo... just wondering but for the record I DONT have a bachelors degree...

You are no longer eligible for Pell because you are not solely working on your first bachelor's degree...regardless of whether you have a degree or whether your school still classifies you as an undergraduate for tuition purposes.

Hope this helps.

 

[JamesL1585]

Sorry..forgot to mention one thing...

A guy from the school I'm currently at that has a Pharm. D Program is still getting his Pell grant this semester... sooooo thats why I brought up this debate... anyone know anyone else this happened to?

 

[fenixtnlfan]

I think your friend got lucky and somehow they screwed up in the FinAid department.

 

[Allure]

My friend was in a 7 year program at OSU because that school is special. It has to be 7 instead of 6 like other schools. Anyway, during her 4th year (1st professional year), she still received grants and scholarships that paid for everything. I don't know what happened after that.

 

[twester]

It depends on your program whether or not you are eligible for a Pell Grant. My school treats P1s as undergrads for financial aid purposes. I got Pell Grants for both semesters, but I was also eligible for a LOT less in Stafford loans and had a to get a monstrous private loan. My P2 year there was no Pell Grant, but Colorado gives residents a comparable Graduate School Grant (can't remember exactly what it's called). I got a lot more in Stafford loans.

 

[PharmDstudent]

I'm not really sure why it is that you don't understand their decision.

Regardless of how your school wants to arbitrarily classify their students, the federal government is not going to give you a Pell Grant, because you're starting a professional program.

I would imagine that this is something new that will be starting Fall '08. Lucky you.

Also, I hope that you have a good credit score, because they're raising the standards for private loans, too. If your credit score isn't high enough, then most likely, you'll need a co-signer.

 

[tootoo30]

James you need to check to see how the school classifys their P1's because if they consider you still an undergrad student, you can go back and edit your FAFSA back to undergrad and then you will be able to receive grants. Xavier classify's their P1's and P2's as undergrads which screws me because I have a degree but helps those who don't because they are still able to receive a pell grants.

 

[PharmDstudent]

James you need to check to see how the school classifys their P1's because if they consider you still an undergrad student, you can go back and edit your FAFSA back to undergrad and then you will be able to receive grants. Xavier classify's their P1's and P2's as undergrads which screws me because I have a degree but helps those who don't because they are still able to receive a pell grants.

The drawback to that scenario is that the private loans taken out to make up for the difference between the undergrad Stafford loans and the Pell Grant are costly. The interest rates for private loans will kill you! They're comparable to credit card interest rates.

 

[Allure]

Not true, my Sallie Mae interest rate for last year was less than 6%

 

[PharmDstudent]

Not true, my Sallie Mae interest rate for last year was less than 6%

There are several different types of loans. I'm talking about a private loan without a co-signer.

You people are impossible sometimes... 😱

 

[Allure]

You didn't state anywhere in your previous posts that it was without a co-signer. Anyway, without a co-signer, Sallie Mae private loan's interest was a bit over 10% for me. With a co-signer, less than 6%.

 

[FruitFly]

Moving to the Pre-pharmacy forum, so folks can discuss their financial aid options while considering Pharm school.

Pell Grants don't exist for the (conventionally) four professional years of pharmacy school.

 

[1908PharmD]

Sorry..forgot to mention one thing...

A guy from the school I'm currently at that has a Pharm. D Program is still getting his Pell grant this semester... sooooo thats why I brought up this debate... anyone know anyone else this happened to?

It depends on income:

"Students with family incomes up to $55,000 may be eligible for Pell Grants. However, most Pell awards go to students with family incomes below $20,000.
Students can receive Pell Grants for their undergraduate study until they complete a baccalaureate or their first professional degree (such as pharmacy or dentistry).
Are You Eligible?
You Must Be an undergraduate student or applying as an undergraduate for the Pell Grant. Graduate students are eligible for work-study and student loans.

If you have any questions about your eligibility to receive state or federal financial aid, contact a financial aid administrator at the institution you are interested in attending, or contact the Office of Higher Education" - US Gov't.