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  • Summer Financial Aid

Office of Scholarship & Financial Aid

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  • Summer financial aid application for Summer 2014 has expired.  Summer financial aid application for Summer 2015 will be available in March 2015.

     


    General Information
    Summer Semester 2015 funding is available in the following programs: Federal Pell Grant, Minnesota State Grant, Work Study, Federal Direct Loans, and private educational loans.
    Federal Pell Grant: Eligibility for summer Pell Grant is limited to the unused remainder from the previous fall and spring semester. If enrolled full-time in prior semesters, remaining eligibility is zero for summer. Initial Pell payments are based on registered credits as of June 12. Adding or withdrawing from courses after June 12 does not increase or decrease the Pell Grant payment
    (some exceptions apply).

    Minnesota Grant:  A third 2014-2015 payment is available for summer to students who are eligible.  Award amounts at each credit level are displayed on the student's award letter.
    Work Study: Awards for summer are limited and awarded on a "first-applied" basis. Students enrolled fall and spring semesters who were ineligible for Work Study are usually eligible for Work Study during summer, if registered for at least 6 credits during summer semester. Maximum Work Study award for summer is $2,200.
    Federal Direct Loan (and SELF Loan): Eligibility is determined by grade level and is limited to one annual maximum per year (Fall 2014, Spring 2015 AND Summer 2015).
    Summer financial aid payments begin June 13; overages available June 16 or after. Budget accordingly!

     

     Eligibility Requirements  

    •  Enrolled in a degree seeking program.
    •  Registered for 6 or more credits to be awarded Work Study or Federal Direct Loans (graduate students must be enrolled in 6 or more graduate credits).
    • Maintain satisfactory academic progress to be eligible for most summer aid. Students not maintaining satisfactory academic progress at the end of spring semester 2015 are subject to financial aid suspension for summer term. Notification of suspension may occur after the start of the first summer classes. Students on financial aid warning or probation spring semester will have financial aid eligibility for summer determined after spring grades are received. Award letters will be available once eligibility is established.
    • Students graduating Spring 2015 are ineligible for summer federal financial aid unless admitted for summer as a graduate student (enrolled in at least 6 graduate credits) or a second degree/license student with a program of study approved by the Office of Scholarship and Financial Aid.

    Application Procedures  

     

     A valid FAFSA for 2014-2015 received by the MSUM Office of Scholarship and Financial Aid (filing deadline is June 30, 2015).

    • A duplicate Student Aid Report may be requested until mid-August, but must be received by MSUM prior to the last day of the student's enrollment. Eligibility for financial aid may be forfeited due to late application.
    • Complete and submit the Summer Financial Aid application form for Summer 2015 by April 15 for on-time processing.
    • Students eligible for MN Grant must submit the prior year (2014-2015) FAFSA by June 19, 2015 for summer grant funding consideration.

    Reminders

    • Award Letters will not be mailed. Watch for notification to your mnstate e-mail address directing you to MSUM eservices to view and accept any Direct Loans awarded to you. Loans will not be processed unless, prior to July 31, you accept your Direct Loan from the "loans" tab on eservices or apply for a private loan from a lender.
    • Make sure your local address is current and mnstate e-mail address is active at the Records Office.
    • First time borrowers at MSUM (including transfer students): Complete Entrance Loan Counseling and an Electronic Master Promissory Note online at www.studentloans.gov before loan disbursement. Print the confirmation sheet and keep for your records.
    • All summer registration MUST be completed on or before June 12.
    • Dropping class registration and receiving a tuition refund may require repayment of financial aid funds. (Example: You register for 3 credits for an early course and 3 credits for a later course. If you drop your later course, you will only have 3 credits and may need to immediately repay the financial aid already received.
    • All students are encouraged to sign up for electronic deposit of financial aid overage funds. Directions are available on eservices. Contact Business Services for details on payment procedures.
    • You must be enrolled for at least 6 credits during summer to receive most loan disbursements.
    • Graduate students must have 6 or more graduate credits to be eligible for financial aid, including most student loans.