Musings on Financial Aid

     I am on financial aid.  I am not ashamed to admit it.  In order to try to graduate in a timely manner, I am taking aid fort the last 1 1/2 years of school.  Why 1 1/2?  Because, like many older students, I put myself through community college while working full time.  I got my Associates Degree.  Now, I am at University. 

     So, I opened up my school e-mail to find that I am close to my maximum credit limit and am in danger of falling out of the Financial Aid program.  Scratching my head, I walked over to the Financial Aid Office to find out what was going on.  This semester was the second semester that I have taken aid.  How could I be over the limit?

      Some of you who are reading this are probably wondering what cap I'm talking about.

     It goes like this.  As a student, if you are eligible to receive aid (Pell Grants and scholarships) you have to graduate with under a certain amount of credits, depending on your major (if you are Pre-med, your cap would be higher).  I was approaching that cap.  I asked how could I be approaching that cap since I have never taken aid before?  Well here is the scoop.  Perhaps some of you failed out of school the first time and this is your second shot at school (like me).  But here is something they don't tell you:  If you retake classes you failed, even if you paid for them out of pocket, they still count towards your credit cap for aid.  Even if you have NEVER taken it before.  It is a catch twenty-two.  They want us to go to school, but you don't get credit for not leaching of aid while doing it.  However, people can be on aid for six years before they graduate.  Money they don't have to pay back or pay back on generous terms.  And if you want to appeal the cap, you have to have a very compelling reason (death in the family, traumatizing event at school, etc.).  Where is the parity in that?

     So, what does that mean for yours truly?  My aid will run out in Spring 2011, 1 1/2 semesters short of graduation.  Which means that I will have to get a job, or a paid internship.  I am not opposed.  Except, the way the formula tends to work is based on income.  You can be penalized for making too much money, even though you are going to school full time.  Which means you don't get as much aid.  Which means you may not finish as fast as you want because you can't afford it.  Or, you take out massive loans. 

     It is kinda like the welfare system.  Penalize people for trying not to use too much, reward those who won't try.

     Welcome to another wonderful part of being an older student.  Enjoy your stay.