Summer Financial Aid Information
Summer aid will not be processed until you have registered for summer classes. Subsequent changes in enrollment may affect your eligibility for aid already awarded.
Summer 2013 Aid Policies
You must have a 2012-13 FAFSA on file and have submitted any additional information requested by the Office of Scholarships and Financial Aid.
Summer Pell Grant eligibility is dependent upon prior academic year usage. The amount of the Pell Grant will be based on your enrollment status at the end of the first week of summer semester. Therefore, it is important to register for ALL intended summer credit hours for Summer Semester, First Summer Session and Second Summer Session by May 17, 2013.
Requests for aid that are incomplete as of July 1, 2013 will not be processed.
Financial Aid Refunds
Students who have signed up for Direct Deposit will have their financial aid refunds deposited into their bank account by the first day of summer class (May 13). Students who have not signed up for Direct Deposit will have their financial aid refund check mailed to them the first week of school.
Satisfactory Academic Progress
The U.S. Department of Education requires that students demonstrate Satisfactory Academic Progress in order to continue receiving aid. Please review the 2012-13 Satisfactory Academic Progress policy at “How Your Academic Status Impacts Aid” to be sure that you will be eligible for Summer 2013 aid. If Spring 2013 grades are needed to determine eligibility, your request for federal assistance will be processed but funds will not be released until after spring grades are reviewed.
Federal Direct Stafford Loan Programs
Once you have enrolled for summer, you will receive notification of summer application procedures at your MyBSU. Follow the instructions provided to apply for the Stafford loans.
You must be registered for at least half-time total summer enrollment (6 hours undergraduate, 5 hours graduate) before your loan will be processed.
You may be eligible to borrow the maximum for your grade level every two semesters. If your borrowing period involves any term other than the normal academic year, be aware that borrowing more than half of your eligibility during the first term can affect the amount you are eligible to receive in the second term.
If you borrowed during the 2012-13 academic year, the amount you borrowed could affect your eligibility for summer. If you borrow during Summer 2013, it may affect your loan eligibility for the Fall Semester 2013. Please click here for more detailed information about the Stafford loan program.
Federal Direct Parent PLUS Loan
Parents may borrow through this program for their dependent children up to the cost of attendance minus all aid received. The interest rate is fixed at 7.9 percent. Parents must apply online at www.studentloans.gov.
You must be registered for at least half-time total summer enrollment (6 hours). First-time borrowers must also complete a Parent PLUS Master Promissory Note online.
Federal Direct Graduate PLUS Loan
Graduate students may borrow up to the cost of attendance minus any other financial aid. The interest rate is fixed at 7.9 percent. Graduate PLUS borrowers must complete the application online at www.studentloans.gov. First-time borrowers must also complete a Graduate PLUS Loan Master Promissory Note.
You must be registered for at least half-time total summer enrollment (5 hours).
If you have a Presidential Scholarship and want to use it during the summer, you must contact our office. Use of the Presidential Scholarship during the summer will count as one semester of eligibility regardless of enrollment status.
Child of Veterans and Officers (CVO)
The Indiana Child of Veteran and Public Safety Officer Supplemental Grant Program (CVO) awards will be awarded if you received CVO funding during the academic year preceding the summer term and if eligible. Otherwise, you must notify our office that you want to use the CVO award. The CVO program requires that a completed Free Application for Federal Student Aid (FAFSA) for the 2012-13 academic year be on file with our office.