Q: Is there a minimum enrollment requirement to
receive summer financial aid?
Q: What types of financial assistance are available
for the summer session?
Q: When will I receive my award letter?
Q: Can I receive financial aid if I take summer
classes somewhere other than
Mizzou?
Q: How is financial aid paid?
Q: Is
there a minimum enrollment requirement to receive
summer financial aid?
A: Yes. Federal loans require a student
to be at least half-time. The following are the minimum
number of hours required to be considered half-time.
Undergraduate |
3 hours |
Graduate |
2 hours |
Law |
3 hours |
Post-Comp
PHD |
1
hour |
Q: What types of financial assistance are available for the summer session?
A: The primary funding
source will be loans: Student, Parent, or Alternative.
The eligibility for summer student loan funding is based
on grade level maximums and their fall - spring borrowing.
Refer to the chart below for annual borrowing maximums for dependent and independent students.
Undergraduate students who have not borrowed the maximum
based on grade level will have the remaining eligibility
for the summer. If you have borrowed your maximum and
you change grade levels at the end of the spring semester
you will have eligibility for the difference. For
students who have exhausted their loan limits their only
option will be a parent
PLUS loan or an Alternative
loan.
| |
Annual Subsidized Maximum for Undergrad Dependent |
Annual Combined Unsubsidized and Subsidized Maximum for Undergrad Dependent |
Annual Subsidized Maximum for Undergrad Independent |
Annual Combined Unsubsidized and Subsidized Maximum for Undergrad Independent |
| Freshman |
$3,500 |
$5,500 |
$3,500 |
$9,500 |
| Sophomore |
$4,500 |
$6,500 |
$4,500 |
$12,500 |
| Junior |
$5,500 |
$7,500 |
$5,500 |
$12,500 |
| Senior |
$5,500 |
$7,500 |
$5,500 |
$12,500 |
The academic year federal loan maximum for graduate students is $20,500 subsidized and unsubsidized combined. Graduate students who have exhausted their loan limits may consider a Graduate PLUS or Alternative loan.
A secondary source of funding is for
Pell Grant eligible students only. If you have been full-time
enrolled for the fall and spring
semesters, you will not have Pell eligibility.
If you
were enrolled for less than full time fall or spring
semester, the Financial Aid Office will calculate
your Pell eligibility for the summer.
Q: When will I receive my award letter?
A: Summer award letters will be mailed sometime between the beginning of April to mid-April for students who are registered in summer course work.
Q: Can I receive financial aid if I take summer classes
somewhere other than Mizzou?
A: No.
Q:
How is financial aid paid?
A: Your financial aid will be applied
to your MU bill. Your bill will consist of educational
and other fees, room and board costs (if you live on campus),
bookstore and other University charges. Your Pell Grant
will automatically be applied to your account (if you are
eligible for one). Federal and alternative loans are applied to your account after approval has been received from the lender and all to do items related to the loan(s) have been completed. To do items can be located on myZou Self Service. If your financial aid exceeds your University costs, a refund will generate to you (student or alternative loan) or your parent (PLUS) depending on the loan type. For more information, please visit
How Your Funds Are Applied.
If your financial aid exceeds
your University charges, the balance is paid to you
by check or direct deposit into your bank account. Refunds
generated from a PLUS loan may be mailed to the parent.
For more information on direct deposit, contact the
MU
Cashiers Office at (573) 882-3097 or visit their web
page at http://cashiers.missouri.edu.
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