For what period does the federal financial aid eligibility typically last for degree programs?

Federal financial aid eligibility for degree programs typically lasts for up to 150% of the program length. This means that for a program that is designed to be completed in four years, a student would be eligible for federal financial aid for a total of six years. This policy is in place to encourage students to complete their degrees without exceeding a reasonable time frame, allowing financial support to be provided efficiently to those who are making appropriate academic progress.

The rationale behind this policy is to ensure that students are not only receiving adequate support but are also held accountable for maintaining a pace that aligns with completing their degree in a timely manner. By having this time limit, federal financial aid programs aim to help students finish their education while also managing the sustainability of financial resources.