Summer is around the corner. We know this because there is a bouncy castle by the stadium and the fountain is on. You may be thinking about taking classes this summer. Good for you, and there might be financial aid for it too!
Here is how summer financial aid works…
When you register for summer classes, our office will automatically look to see if you have any federal aid left to use for the summer. How will we know if you do?
- Pell Grant – Only for undergraduates who have a 2018-2019 Expected Family Contribution below $5,486 (the EFC is taken from your 2018-2019 FAFSA), and who haven’t used up their yearly or their lifetime allowance. If you were less than full-time in the Fall or Spring you should still have unused Pell Grant for your summer classes. If you were full-time both semesters, you might have Pell Grant available but only if you are enrolled in at least 3 credit hours this Summer.
- Direct Federal Loans – For all students who are generally eligible for federal aid. If you did not borrow the full amount you were eligible for this year, you should have loans available. You will need to be enrolled at least half-time (3 credit hours) to use them. How much you can borrow in a year depends on your grade level and your dependency status (i.e., whether or not you reported parent information on your FAFSA).
Don’t worry if that sounds confusing – that’s what we’re here for. Once we have determined your eligibility we will update your award letter, which you can view through the “My Financial Aid” section of your MyMissouristate account. We will also send you an email when your award letter has been updated. If we don’t think you have federal aid left we will let you know.
- State aid like Access Missouri, and institutional aid like Dean’s or Board of Governor’s scholarships and the Out-of-State fee waiver, do not apply to Summer. If you absolutely need more loans than the Federal loans we will offer, check out our private loan comparison page.
- Be patient. As of this posting, there are over 530 students ready to be reviewed. We generally review students on a first-come, first-served basis, but aim to have everyone reviewed by the time aid disburses on June 17th
- If you think we made a mistake when reviewing your eligibility, or you haven’t seen your award letter updated by June 17th, let us know!
Enjoy the sun and be wonderful to each other!