Penn State Scholarships: Awards and scholarships are types of financial aid that don’t require repayment. Penn State provides a number of funding options for potential scholarships. Grab this golden opportunity by carefully reading this article to know its eligibility and application details.
The Office of Student Aid reviews applications for scholarships from every applicant who accepts an offer of admission and completes a Free Application for Federal Student Aid (FAFSA) for Penn State.
Penn State advises all students to submit a FAFSA to be eligible for full assistance consideration, regardless of whether they believe they will receive financial help.
One of the departments at Penn State that grants scholarships and awards is the Office of Student Aid.
Additionally, academic campuses, universities, and other administrative entities may grant scholarships and awards; some of these may call for additional applications.
About the Penn State Scholarships
First-year and transfer students who enroll at one of Penn State’s 19 Commonwealth Campuses and are residents of Delaware, Maryland, Ohio, New Jersey, New York, Virginia, West Virginia, or the District of Columbia are eligible for this four-year grant (a campus other than the University Park campus and the World Campus).
Penn State provides rewards to incoming first-year and transfer students in addition to the scholarships and awards listed on the website of the Office of Student Aid.
Students get the majority of that scholarship money in the form of Discover Penn State Awards and Provost’s Awards.
Scholarship Eligibilities
Undergraduate, graduate and professional students must satisfy certain eligibility standards in order to be eligible for and keep student financial aid, including all types of federal loans.
1. Application, Enrollment, and Federal Requirements
Application Requirements:
- Have a high school diploma
- Be a citizen or eligible non-citizen with a valid Social Security Number
- Be registered for the Selective Service if you are male and 18-25 years of age
- Submit the Free Application for Federal Student Aid (FAFSA) yearly
- Comply with any and all requests for information
- Remain in good standing on educational loans and grants per the National Student Loan Database System (NSLDS)
Enrollment Requirements:
- Be enrolled in a qualified degree or certificate program. There are several exceptions to the rule that most certificate programs do not qualify for federal student aid.
- In general, undergraduate students should continue their enrollment for at least six credits, with the exception of the Federal Pell Grant, which is given depending on the number of credits (1 credit minimum) and the Expected Family Contribution (EFC). If you dropped credits during the add/drop period, your Pell grant may need to be recalculated at the census date.
- In general, continue taking classes for five credits; if you’re a graduate student, take courses at the 400 level or higher.
- Follow Penn State’s financial aid guidelines for satisfactory academic progress.
Some grant programs require full-time enrollment, which is indicated in each grant’s eligibility section.
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Federal Requirements:
- They will monitor your Award Summary throughout each semester to ensure your student aid does not exceed your financial need or your costs. If this occurs, a hold will temporarily appear on the homepage of your LionPATH account indicating that you have an “Overaward of Financial Aid”. Our office will review and adjust your aid as appropriate to remain within federal guidelines.
- Surely, they will also monitor to be sure that you have not used your Federal Aid eligibility at another school during the same academic period. If this occurs, a hold will temporarily appear on the homepage of your LionPATH account indicating that you have been flagged for “Transfer Monitoring”. If you have aid pending at another school, you will want to contact them to have it canceled. Our office will review and adjust your aid as appropriate to remain within federal guidelines.
2. Determine Your Need
The Free Application for Federal Student Aid (FAFSA) must be completed in order to find out what sorts of aid you are eligible for.
Your Expected Family Contribution (EFC) is determined after you have submitted your FAFSA using a method set by federal law. The following factors are included in the EFC formula, along with those of your parents if you are a dependent student:
- Income and assets
- Number of people living in your household
- Number of people in your household attending college
- State of residence
- Your cost of attendance minus your EFC equals your financial need.
No matter how much the institution you are attending actually costs, your EFC, which is expressed as a dollar number, remains constant from one school to the next. However, depending on the cost of attendance at each institution, your financial needs will change. Most students’ needs are only partially met by financial aid.
3. Your Rights and Responsibilities
Click here to know How to Apply
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