A student does not need to be full time for most types of financial aid.  Students eligible for a Pell grant can usually receive it for any level of enrollment.  Students must be at least half-time for student loans and state grants.
Enrollment status:
Full time=12 Credits or More
3/4 Time=9 to 11 Credits
Half time=6 to 8 Credits
Less than half time= 1 to 5 Credits