Fund types available for May/Summer
Limited financial aid assistance is available in the summer if you have used your annual Direct Student Loan award eligibility during the fall and spring terms. See below for overviews of the primary types of financial aid available for May/Summer term.
As a result of federal legislative changes, all Direct Subsidized and Unsubsidized loans that are first disbursed between July 1, 2015 and July 31, 2016 will have the same interest rate of 4.29 percent.
Undergraduates with remaining eligibility
You will be considered for the Minnesota State Grant, Pell Grant, Work-Study, Direct Subsidized/Unsubsidized loans, and Parent Loan for Undergraduate Students (PLUS) loans. University Trust (UTFL) loans may also be available on a limited basis for undergraduate students.
Summer Work-Study awards will be made to students who earned under the Work-Study program during the fall or spring terms. Other students interested in a Work-Study award for summer should contact One Stop Student Services to check on their eligibility. If funding is available and you qualify, One Stop will advise how to request an award.
Graduate students with remaining eligibility
You will be considered for Direct Unsubsidized loans and the Graduate PLUS Loan. If you have exhausted your annual maximum eligibility for unsubsidized loans, then you will be awarded the Graduate PLUS Loan up to your summer cost of attendance. Eligibility for the Graduate PLUS loan does require a satisfactory check of your credit rating. Graduate students may also be interested in private loans. Visit the private loans page for information on summer session loan assistance.
No remaining eligibility
Please note: You may borrow the maximum annual loan limit only once between fall 2015 and summer 2016. If you borrow the maximum annual loan limit during the fall and spring, you will not be eligible for additional Direct Loans in summer term 2016. Students who have borrowed their annual maximums during the fall and spring may want to check out the private loans page for information on summer session loan assistance.