Fin Aid Again

  1. Can someone explain to me how financial aid gives out money if you go to school during your summer semester? I will be using Stafford and say for example I get the full amount for the year as an independent student....$10,500. Is that divided by the two semesters for a total of $5250/semester and the summer semester is more funds or would the funds be divided out over the three semesters to the tune of $3,500. Also, it the $10,500 is for the two semesters, how much do they disperse for the third?
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  2. 2 Comments

  3. by   prairiegirl
    Here's how I found out about this. I went to my financial aid office to check on getting loans for summer. They told me that the financial aid award you get is for the entire year, fall, spring, AND summer. IF you do not tell them to break it up into 3 semesters then they will only break your loans and grants up for fall and spring. So I have applied to increase my loans to get some for summer, but I may not get them since I have met my maximum I am alloted for my year in school.

    Hope this helps.

    Laura


    Quote from Tootyx121
    Can someone explain to me how financial aid gives out money if you go to school during your summer semester? I will be using Stafford and say for example I get the full amount for the year as an independent student....$10,500. Is that divided by the two semesters for a total of $5250/semester and the summer semester is more funds or would the funds be divided out over the three semesters to the tune of $3,500. Also, it the $10,500 is for the two semesters, how much do they disperse for the third?
  4. by   bigmona
    I got Stafford loans for the whole year and when I took summer classes they gave me an additional Perkins loan, which I wasn't expecting. It wasn't for that much money but it did help pay for classes.

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