Costs & Aid Home | Costs & Aid | Financial Aid FAQs Financial AidHow many credit hours do I need in order to be eligible to receive financial aid?A minimum of six (6) credit hours is required for Federal Direct Stafford loans. Federal Pell Grants are prorated based on the number of registered credit hours.If I do not attend school for a quarter, will I still receive my loan funds?You are required to be actively attending classes and enrolled in a minimum of six (6) credit hours to be eligible to receive loans.Why do I have to be in a Program of Study to receive financial aid? In order to be eligible for federal aid, you must be in a diploma or degree Program of Study. If I have a bachelor’s degree, am I still eligible for federal aid?Students who have obtained a bachelor’s degree are not eligible for Federal Pell Grants, but are still eligible for Federal Direct Stafford loans. What is meant by aggregate limit?The Department of Education sets limits on the amount of money you can borrow for undergraduate studies. These are called aggregate limits. If you get this notice, please contact your financial aid office for assistance.Why do I have to be signed up for Selective Service to receive financial aid?It is a federally funded program, and Selective Service is one of the requirements for eligibility.How do I apply for scholarships?Go to the online Financial Aid scholarship page and complete the online application. Also, check out your campus scholarship box/board for additional outside scholarships.What is census day?It also is called lock day. This is the day when aid is adjusted based on enrollment status, and no more classes can be added without approval. Aid will be set based on enrollment status.If I fail a class, can I retake it, and will financial aid cover it?Yes, you can repeat a class and financial aid will cover the tuition.Do I have to be a declared student in order to receive financial aid?Yes, you must be in a Program of Study.