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 |
|---|---|---|---|
| Grants | |||
| 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 |
| Scholarships | |||
| Penn College Scholarships | Not applicable | June 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. | |
| Other Programs | |||
| PHEAA Special Programs (NETS, CHAFEE, PATH, GEAR UP) |
When NETS money is received from PHEAA, typically in July | 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. |
