Enrollment Changes

As you transition from high school to college, you might feel shocked by how much freedom you have in your day. You may be choosing your own classes and your own schedule. No more bell to bell school days! But with this freedom comes self discipline: you will be the one making sure you get to your classes. And you will need to make sure you keep up your enrollment status. Not doing so can have a major impact on your financial aid package.

Basic Enrollment Facts
Your school defines full-time enrollment based on whether it is a semester or quarter school or whether it uses credit hours. Three quarter and half-time enrollment is usually based proportionately on your school's definition of full time enrollment. Make sure you understand what your enrollment status is and notify the financial aid office if you change your enrollment status.

Loans
You need to enroll at least half time to receive federal Stafford Loans. If you drop below half time, your grace period begins. When your grace period is over, you are expected to begin making loan payments. For private loans, contact your lender for repayment information.

Grants
If you receive grants while enrolled full time, but then drop to half time or less, the grant money you initially received may be reduced or eliminated. If you take time off from school, but plan to return, your grant funds could also be revised or even eliminated. Check with your financial aid office before you make a change in your enrollment status to make sure you know what the impact is.

Scholarships
Many scholarships have requirements about maintaining full-time status. If you plan to drop below full-time enrollment, ask your scholarship donor how it will affect your award. Some scholarship funds might require repayment if a recipient leaves school or drops below a minimum enrollment status.

Knowing how enrollment status affects your financial aid can keep you on the right track through graduation.