Summer School Financial Aid Policy
In order to receive financial aid during the summer term, students must be enrolled at least half time in an approved program of study (half-time enrollment is at least six credit hours for undergraduate students and at least five credit hours for graduate students). Note that courses taken for audit will not be funded.
Students also must remain registered for at least three weeks of classes or be in an approved study abroad program.
Eligibility for summer financial aid is based on the information on the student's 2013-2014 Free Application for Federal Student Aid (FAFSA) along with the student's 2013-2014 financial aid history. Summer aid applications will not be processed until the LU Office of Financial Aid has received the results of the student's 2013-2014 Free Application for Federal Student Aid.
Financial aid awards cannot be added or increased once the summer 2014 Financial Aid Application has been submitted (exceptions possible for the Federal Pell Grant).
Awarding Summer Aid
• Your financial aid will be awarded based on the number of credit hours for which you are registered.
• Your aid will be reviewed at the time of disbursement for the correct number of credit hours. If you are not taking the classes indicated on this form, your aid will be subject to change.
Limited summer financial aid
• Students enrolled at least half time during the summer term may be eligible for a Federal Stafford Loan if they did not borrow the maximum allowed by their academic grade level during the academic year (fall 2013 and spring 2014 semesters) or if they advanced in grade level during the 2013-2014 academic year.
• Students may be eligible for a Federal Pell Grant for the summer term. If eligible, you will automatically be awarded the Pell grant for the summer.
• If there are insufficient funds available, parents of dependent students may apply for a Federal PLUS Loan; all students may apply for a private alternative loan.
• Book vouchers and emergency loans are not available during the summer term.
Master promissory note
• Students who have been awarded a Federal Stafford Loan and have not already signed a Federal Stafford Loan Master Promissory Note will need to sign their Master Promissory Note at www.studentloans.gov.
• Parents who have been awarded a Federal PLUS and have not already signed a Federal PLUS Master Promissory Note will need to sign their Master Promissory Note at www.studentloans.gov. Parents must fill out a summer Plus loan application at www.studentloans.gov.
Reporting other aid
• Financial aid not listed on the Financial Aid Award Notice (FAAN), including scholarships awarded by other LU departments, must be reported to the Office of Financial Aid. Receipt of such aid requires a review of financial aid eligibility.
Disbursement of financial aid funds and living expense refunds
• Financial Aid, if available will be disbursed by May 23.
• Financial aid funds are generally credited to the LU student account three days after the first three credit hours of summer course work begins.
• When financial aid funds exceed University charges, students receive refunds to assist with the purchases of books, supplies, and other educational or living expenses. There will be no disbursement of funds between June18th and July 2nd. There will be no refunds processed between June 19th and July 8th.
• The Office of Financial Aid will conduct an eligibility review at the time of disbursement. If a student has dropped below half-time enrollment and/or taken fewer than three weeks worth of classes at that point, all federal loans for the summer 2014 will be canceled. If the student received a Federal Pell Grant, it also may be reduced or canceled. The student will have to repay all reduced or canceled financial aid that has been credited to their LU student account
If a student withdraws from all classes before completing 60 percent of the session (as measured in calendar days), financial aid eligibility must be recalculated based on the federal Return of Title IV Funds formula. Federal regulations stipulate that financial aid is "earned" based on the calendar days completed for the semester. Any "unearned" financial aid must be returned to the appropriate federal program(s). The student will have to repay any reduced or canceled financial aid that had already been credited to their LU student account.
Summer School Checklist
- Completed 2013-14 FAFSA
- Registered for summer classes
- Completed the 2014 Summer School Application (will be available March 19) for Financial Aid and submitted to the Office of Financial Aid by May 3rd. Check for summer financial aid award on MyLongwood. (Use the 2013-14 award year to view summer award.)
- Take action on award and complete all requirements. (entrance counseling, complete MPN, complete PLUS application)