Understand Eligibility and Institutional Policies
Your eligibility and how the funds are disbursed will vary from fund source to fund source, and from one institution to another. Review your award letter. Make sure that you understand what amounts are set to disburse when, especially if you are relying on that money to pay for any living expenses while you are in school.
Read your school catalog policies. Anytime that you make a change to your academic program, it could potentially affect your financial aid award.
For instance :
- In order to continue to receive Federal Student Aid, you must be maintaining satisfactory academic progress.
- In order to receive a full Federal Pell Grant award, you must be a full-time student.
- In order to receive Federal Stafford Loans, you must be attending at least half-time.
