Enrollment Changes

Your financial aid package has personalized based on your part-time student status. If that status changes, you should consider in advance how those changes could affect your financial aid. Grants, loans, and scholarships can all be affected by student status changes.

Each of your financial aid programs comes with its own specific guidelines in terms of your student status. You must be enrolled in a certain number of credits or hours to maintain part-time status. If you leave school or if you take fewer classes and your enrollment status drops to less than half time, your financial aid package could change drastically. Check out these important details to maximize your financial aid possibilities.

Federal and Personal Loans
Your enrollment status can greatly affect your educational loans. If you have a Stafford Loan and your student status drops below half time, the grace period will begin for loan repayment. For specific loan repayment information, check with your financial aid office.

During your loan grace period, your lender should send you repayment information and counseling on how you can quickly and efficiently repay your loans. You will be expected to begin making payments even if you didn't finish your bachelor's degree or can't find a job during your grace period. If you're concerned that you won't be able to make loan payments on time, contact your lender immediately. It may be possible in some circumstances to have your loan's grace period extended. For details on your personal loans, contact your private lending institution.

Federal, State, and Institutional Grants
Your grant eligibility depends on your student status as well as your financial status, and sometimes the financial status of your parents. If you drop to half-time status or below half-time status, your grant money can be reduced or even eliminated altogether. Even a temporary leave from school could affect your grant funds. Conversely, you could be eligible for more grant money if you attend full time. Make sure the financial aid office knows of any student status changes or income changes for you or your parents, if you are a dependant student.

Student Status Changes
A change in your part-time student status could also affect your scholarship. Scholarships may not have specific provisions about part-time student status or repayment requirements when you leave school, but all scholarships are different, and you should always read the fine print or contact your scholarship provider for specific details.