Financial Aid Office

Summer 2010 Financial Aid

Financial aid for summer semester is based on your scheduled enrollment.  Once you schedule for all of your classes, please submit a Summer Financial Aid Application found on your Anchor Access account. 

Summer semester includes three different sessions:  one twelve week session and two six week mini-sessions.  To qualify for many forms of aid, you must attend at least six credits for summer and you must begin attendance before the aid can disburse.  NOTE:  If you are taking credits in the second six week mini-session, your aid may be delayed until the second session starts even though your tuition bill is due in May.

Your summer aid eligibility is based on your submitted schedule.

If your schedule changes, your aid may change!  You need to submit a new summer application to the Financial Aid Office to review your aid if you change your schedule.  All schedules will be verified at the end of each add period before aid releases to your account!

If your award letter indicates that your aid is DELAYED, that means that it will be not be available until you begin your second six week session and will not show on your e-bill.  You will need to pay your tuition in May or use the University Payment Plan and make the first two payments before your aid is released.  When you reach six credits and your aid releases, any excess aid will be refunded to you on June 30, 2010. 

Alternative loans are offered to students who do not have enough federal loan eligibility remaining for summer semester or for students taking less than six credits.  The award letter will show the “maximum” amount of alternative loan you could take for summer semester, based on the number of credits on your schedule at the time of the award.  You will need to select a lender and apply for your loan early to ensure that your loan funds will be available when your balance is due.  For more information, check out our website at www.lssu.edu/finaid/alternativeloans for a list of lenders that LSSU students have used and links to the lender websites.

Federal Pell Grant for summer semester will be based on the 2009-10 FASFA.  Students will fall into one of two categories for awarding summer semester Pell Grant:

• Students who attended full-time for two semesters and received 100% of their Federal Pell Grant award during 2009-10.
• Students who attended part-time and received less than 100% of their Federal Pell Grant award.

Students who attended full-time for two semesters:

If a Pell Grant recipient attended full-time (12 credits or more) for two semesters, the award for summer 2010 requires that the student must:

• Qualify for a Federal Pell Grant based on the 2009-2010 FAFSA, and
• Meet Satisfactory Academic Progress standards at the end of the spring 2010 semester, and
• Enroll in at least 6 credits or more for summer 2010 semester. *

*For Summer Semester 2010, if the student is enrolled for less than six credits in the first session but meets the six credit minimum in the second six week session, the Federal Pell Grant (and any remaining Federal Loans) will be DELAYED until the second six week session.  If the student drops courses to fall below the six credit minimum necessary for the funds, no federal funds will be disbursed and the award will be canceled.

Students who attended part-time:

If a Pell Grant recipient attended part-time (less than 12 attempted credits) at least one semester during the academic year and received less than a full year Pell Grant, the award for summer 2010 requires that the student must:

• Qualify for a Federal Pell Grant based on the 2009-2010 FAFSA, and
• Meet Satisfactory Academic Progress standards at the end of the spring 2010 semester, and
• Enroll in at least one credit but less than six – will receive the balance of the full year Pell Grant, OR
• Enroll in at least six credits – will receive a Pell Grant based on half-time, three quarter-time, or full-time status.

Attendance is required in all classes for federal aid recipients.  If your class had a delayed start date, your Pell Grant may be withheld until the class begins and you are in attendance.