Financial AidEligibility
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Because the financial aid year ends after the summer term, summer aid is limited for many students. In most cases, students who use all of their annual federal loan eligibility during the fall and spring semesters will not have any federal eligibility remaining for May or Summer Session. Students who have exhausted their annual federal loan eligibility can usually apply for private education loans for the summer. Please note: students planning to borrow from a private education loan program for summer are advised to wait to apply until they have finished registering for summer classes. Loan certifications are based on the student's enrollment at the time that the certification is received. Students may not receive Pell funds at more than one school at a time. Pell eligible students are allowed to receive the equivalent of only two full-time semesters of Pell Grant per year (fall/spring/summer); students enrolled full-time in the fall and spring terms have no Pell eligibility for summer term. Students must be enrolled at least half-time during the May and/or Summer Session to be eligible for financial aid. Students must also meet the requirements below:
Students who do not meet these requirements can apply for private education loans. Private education loan eligibility for students enrolling at less than half-time status is limited to the amount they owe in tuition and fees, plus $500 for other education-related expenses. Students who are interested in private education loans should visit http://www.d.umn.edu/fareg/loans_Private.htm . Students who meet these requirements will automatically be considered for summer financial aid once they are registered at least half-time for the May and/or Summer Session. An e-mail notice (e-FAAN) will then be sent to the student at his/her UMD e-mail account explaining whether or not they are eligible for summer aid. Summer awards are initially made based on half-time enrollment and may be reduced or cancelled if students drop below half-time. Important Dates for Summer 2012 Financial Aid
UM students attending other UM campusesUM students who are planning to take summer classes at another UM campus should inquire about summer aid at their home campus. UMD students who are taking classes at another UM campus can contact One Stop Student Services for information about summer financial aid eligibility. |