Why do award amounts change for successive academic years?
The majority of those students who qualified in 2008-09 will qualify for 2009-10. It is important to understand that each academic year’s awarding formula is based on three primary considerations: • The appropriations provided for distributing awards. • The number of applicants for State Grant aid. • The financial strength of the families of those applicants. The awarding formula specifically excludes home equity, retirement accounts, and NowU Investment Plan accounts from asset consideration. Students whose awards are reduced are receiving less aid because, in the vast majority of cases, one or several of the following factors have occurred: • Award adjustments were necessary to stay within available funding. • Family income increased between the filing of the two application forms. • Number of family members decreased. • Number of other dependents enrolled in college decreased. • Student is attending a lower cost institution. • Family had extraordinary, unreimbursed medical expenses
The majority of those students who qualified in 2009–2010 will qualify for 2010–2011. It is important to understand that each academic year’s awarding formula is based on three primary considerations: • The appropriations provided for distributing awards • The number of applicants for State Grant aid • The financial strength of the families of those applicants The awarding formula specifically excludes home equity, retirement accounts, and Pennsylvania 529 Savings Plan accounts from asset consideration. Students whose awards are reduced are receiving less aid because, in the vast majority of cases, one or several of the following factors have occurred: • Award adjustments were necessary to stay within available funding. • Family income increased between the filing of the two application forms. • Number of family members decreased. • Number of other dependents enrolled in college decreased. • Student is attending a lower cost institution. • Family had extraordinary, unreimbursed medical
Related Questions
- May I use my Freeman ASSIST award for tuition, tuition-related expenses, or books/materials if my university is awarding academic credit for my internship?
- The Job Referral Form shows quarterly award amounts; are students limited in the amount they can earn in one quarter?
- Why do award amounts change for successive academic years?
