If you’re planning to attend college or graduate school, you may be wondering if you can receive financial aid from two schools. The answer is yes, but there are some important things to keep in mind.
Eligibility for Financial Aid
To be eligible for financial aid, you must meet certain requirements, including being a U.S. citizen or eligible noncitizen, having a high school diploma or GED, and being enrolled in an eligible degree program. You must also complete the Free Application for Federal Student Aid (FAFSA) each year.
How Financial Aid is Awarded
Financial aid is awarded based on your financial need, which is determined by subtracting your expected family contribution (EFC) from the cost of attendance (COA) at the school you’re attending. The EFC is a measure of your family’s ability to pay for college, and it’s based on your family’s income, assets, and other factors.
The COA includes tuition and fees, room and board, books and supplies, transportation, and other expenses.
Receiving Financial Aid From Two Schools
If you’re attending two schools, you may be able to receive financial aid from both schools. However, there are some important things to keep in mind:
- You can only receive financial aid for the same period of time at each school. For example, if you’re enrolled in a full-time program at one school and a part-time program at another school, you can only receive financial aid for the full-time program.
- You must notify both schools that you’re attending two schools. Each school will need to verify your enrollment and determine how much financial aid you’re eligible for.
- You may need to adjust your financial aid award if you change your enrollment status at either school. For example, if you drop a class at one school, you may need to reduce your financial aid award at that school.
Tips for Receiving Financial Aid From Two Schools
Here are some tips for receiving financial aid from two schools:
- Apply for financial aid at both schools as early as possible.
- Complete the FAFSA accurately and on time.
- Notify both schools that you’re attending two schools.
- Keep track of your financial aid awards and make sure that you’re not receiving more financial aid than you’re eligible for.
- Be aware of the deadlines for submitting financial aid forms and documents.
Conclusion
Receiving financial aid from two schools can be a great way to help pay for college. However, it’s important to be aware of the eligibility requirements and the rules for receiving financial aid. By following the tips above, you can increase your chances of receiving the financial aid you need to succeed in college.
Frequently Asked Questions
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Can I receive financial aid from two schools if I’m attending both schools full-time?
No, you can only receive financial aid for the same period of time at each school. -
What happens if I receive more financial aid than I’m eligible for?
You will be required to repay the excess financial aid. -
What are the deadlines for submitting financial aid forms and documents?
The deadlines vary by school, so it’s important to check with each school for the specific deadlines. -
What should I do if I have questions about my financial aid?
You should contact the financial aid office at each school for assistance. -
Can I combine the financial aid I receive from two schools?
No, you cannot combine the financial aid you receive from two schools. -
Is there a limit to the amount of financial aid I can receive?
Yes, there is a limit to the amount of federal financial aid you can receive. The limit varies by the type of financial aid you’re receiving.
