Summer loan eligibility is based on the student’s remaining annual loan limit. The annual loan limit for a Federal Direct Unsubsidized Loan is $20,500.
Example: If a student was offered an Unsubsidized loan for the annual limit of $20,500 during the current academic year (fall and spring) and only accepted $16,000 for the fall and spring terms, they would have a loan eligibility of $4,500 remaining for the summer term.
However, if a student has borrowed the annual limit during the fall and spring term and still wishes to borrow for the summer term, the following options may be available:
Example: If a student borrows $6,000 for the summer from the new academic year, they would have a loan eligibility of $14,500 remaining for the upcoming fall and spring terms.
Students will need to apply separately for the Graduate PLUS loan. This loan application will require a credit check in order to determine eligibility. If approved, you may borrow up to the cost of attendance for the summer term. But if denied, you can appeal the decision or find an endorser who can help you secure the loan.
This option is contingent upon your application approval by your chosen lender. If approved, you may borrow up to the cost of attendance for the summer term.
Please complete and submit the Summer Loan Request to our office after you have registered for your summer courses.
We encourage students who are considering summer study to try to plan for the entire year in advance in order to stretch their aid to help with summer tuition costs. You must be enrolled for at least 4 credits for the Full Summer Semester OR at least 3 credits during the Summer I, Summer II, OR Summer III session to receive a summer loan. You may receive a Summer Loan only for the summer term in which you are enrolled.
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