The following chart gives you a general idea of the timeframes during which different types of financial aid are awarded. Keep in mind:
- Nearly all financial aid requires the completion of a FAFSA before it can be awarded.
- Federal Verification impacts approximately 1 of 4 students. If your FAFSA is chosen for verification, you (and your parents or spouse) must complete the verification process before the Financial Aid Office can determine eligibility for federal aid.
- Returning students must satisfy Satisfactory Academic Progress policies.
Grants
| Type of Aid | Summer Semester | Fall Semester | Spring Semester |
|---|---|---|---|
| Federal Pell Grant | After summer scheduling | March through summer | March through December
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 PA 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 PA State Grant 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 PA State Grant recipients. Students must meet all eligibility requirements, including Satisfactory Academic Progress. |
| Federal Supplemental Educational Opportunity Grant (FSEOG) | Not applicable | Early May through August | Early May into January |
| 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
| Type of Aid | Summer Semester | Fall Semester | Spring Semester |
|---|---|---|---|
| Federal Direct Subsidized / Unsubsidized Student 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 |
Note: All federal and many private educational loans require scheduling of 6 or more credits in your program.
Scholarships
| Type of Aid | Summer Semester | Fall Semester | Spring Semester |
|---|---|---|---|
| Penn College Scholarships | Not applicable | March 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
| Type of Aid | Summer Semester | Fall Semester | Spring Semester |
|---|---|---|---|
| PHEAA Special Programs (CHAFEE, PATH) |
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. |
