Financial Aid Timeline
When does the Penn College Financial Aid Office award aid?
This timeline gives you a general idea of the months that different types of aid are awarded.
Be aware of the following facts:
- Almost all aid requires completion of your FAFSA before it can be awarded.
- FAFSA records that are missing signatures or have certain incorrect data are considered incomplete.
- Federal Verification impacts approximately 1 out of 3 students and must be completed after FAFSA completion, if required.
- Returning students must satisfy Satisfactory Academic Progress policies.
|Type of Aid||Summer Semester||Fall Semester||Spring Semester|
|Federal Pell Grant||After summer scheduling||April through summer||Late March through January.Students that received both Summer and Fall Pell Grants MAY not be eligible for a Spring award.|
|PA State (PHEAA) Grant||Late May through August. Students must complete PHEAA Summer State Grant applications submitted online via PHEAA's Account Access site.||Late May through summer. PHEAA makes all awards, and requires a completed, signed State Grant Form for all new PHEAA recipients. Students must meet all eligibility requirements, including Satisfactory Academic Progress.||Late May through the rest of the year.PHEAA makes all awards, and requires a completed, signed State Grant Form for all new PHEAA recipients. Students must meet all eligibility requirements, including Satisfactory Academic Progress.|
|Federal Supplemental Educational Opportunity Grant (FSEOG)||Not applicable||Late April through August||November into January for new students; otherwise from late April on|
|Non-PA State Grants||When money is received from state education agency, typically September and October||When money is received from state education agency, typically February and March|
|Loans||Note: All educational loans require scheduling of 6 or more credits in your program.|
|Federal Direct Stafford Loan||April through June.
Requires Summer Request Form. Students refer to our Summer Financial Aid page on myPCTPortal, available mid-March through August.
|June and July||November and December|
|Federal Direct Parent PLUS Loan and
Private Alternative Loan
|April through June||June and July||November and December|
|Penn College Scholarships||Not applicable||April into August||November into January|
|External Scholarships||Applied by Bursar's Office after that office receives payment from scholarship donor.||Applied by Bursar's Office after that office receives payment from scholarship donor.|
|PHEAA Special Programs
|Not applicable||When money is received from PHEAA, typically September to November||When money is received from PHEAA, typically February to April|
|Office of Vocational Rehabilitation (OVR) Grant PA OVR||June and July||August and September||January and February|
|Penn College or Penn State Employee Tuition Waiver||Applied by Bursar's Office.||Applied by Bursar's Office.||Applied by Bursar's Office.|