The aggregate limit is the total amount of federal student loan debt you can take on throughout your undergraduate and graduate-level studies. If you reach your total limit, you can take out additional federal student loans if you first pay down your outstanding debt.

Is there a maximum amount of financial aid you can receive?

Yes. There is a maximum amount of Federal Pell Grant funds you can receive over your lifetime. You can receive the Pell Grant for no more than 12 terms or the equivalent (roughly six years). This is called the Federal Pell Grant Lifetime Eligibility Used (LEU).

Can you exceed financial aid?

One way in which you can exceed a limit and affect your financial aid is if you have taken many classes but not enough of them have been for the purpose of progressing toward a degree. This is sometimes called exceeding the maximum credit limit for your program.

What does maximum timeframe mean for financial aid?

What is Maximum Time Frame? Maximum Time Frame is a requirement of the Department of Education, and must be monitored for ALL financial aid recipients. Even though it is called Maximum Time, it is really a measure of the number of CREDITS you have attempted, including transfer credits.

What is the lifetime student loan limit?

Federal Student Loan Lifetime Limits

What do I do when my financial aid runs out?

1. Step 1: Contact your financial aid office.
2. Step 2: Apply for additional scholarships and grants.
3. Step 3: Consider getting a job.
4. Step 4: Ask family or friends for help.
5. Step 5: Apply for student loans mid-semester.

What is the lifetime maximum for Pell Grant?

Your Pell lifetime eligibility maximum is 600% over the course of your lifetime. That’s equal to a 100% Pell Grant each year for six years. Consequently, your Pell lifetime eligibility is limited by how long you’re enrolled, not how much you receive.

What is the lifetime limit for Pell Grant?

six years
Your lifetime limit for the Pell Grant is 100% of your full-time award per year — over six years.

Can I still get financial aid after 4 years?

The maximum timeframe is 150% of the normal timeframe for the program, such as 6 years for a 4-year degree and 3 years for a 2-year degree. After violating the 150% maximum timeframe restriction, the student is no longer eligible for federal student aid and often institutional college aid as well.

Is there a limit on how much financial aid you can get?

Return the form to the financial aid office to become eligible for financial aid again. Another type of financial aid limit you can exceed is your aggregate loan limit. This number is the maximum amount of a specific type of loan you can borrow during your level in school.

When does the 150 percent rule end for financial aid?

150 Percent Rule (Max Time Frame) Financial Aid recipients will be terminated upon reaching 150 percent of the number of credits needed to complete their degree, diploma or certificate program. This regulation applies to all students, including those that have not previously received financial aid.

How many credit hours can you get for financial aid?

Students are allowed to receive financial aid for up 30 credit hours of remedial coursework. The successful completion of remedial coursework is not counted toward the 150% completion rule. Repeated coursework is allowed as stated in the college catalog. However, these repeated courses count towards the calculation of 150% time limit.

What happens when you have 180 credits in financial aid?

The consequences: After you have accumulated 150 credits, you may be sent a warning that your financial aid could be terminated. At 180 credits, it will be. Terry accumulated 184 credits before her aid was terminated. She didn’t know that transferred and withdrawn courses were tallied.