Summer Financial Aid

It is a common misconception that additional federal aid is offered for summer session coursework.  During summer sessions, students may only qualify for remaining federal financial aid that was not used during the Fall and Spring semesters.  Generally, students who attended full-time both Fall and Spring semesters will not have remaining eligibility for federal aid eligibility available to use during the summer sessions.  However, if you were not full-time both semesters, or declined a portion or all of your aid, you may be eligible to receive your remaining eligibility to help fund your summer coursework.

Summer Grants:

  • You may be eligible to receive the PELL grant if you have remaining 2013-2014 eligibility.
           For Example:
                        If you did not attend any school in Fall 2013 and attended Montclair full-time in Spring 2014
                                                                                       OR
                       If you took less than 12 credits in Fall 2013 and were full-time (12 credits) in the Spring 2014
 
             You may have remaining PELL eligibility for Summer.
  • Any remaining PELL eligibilty will be awarded automatically for all students with a 2013-2014 FAFSA on file.

Summer Work Study:

  • Federal Work Study is not offered during the summer sessions.

Federal Stafford Loans:

  • You must be enrolled at least half-time to qualify for Federal Stafford Loans.
               -  6 credits undergraduate students
               -  4.5 credits graduate students
  • Must have remaining Federal Stafford loan eligibility
          For Example:
                      If you did not attend any school in Fall 2013, attended Montclair full-time in Spring 2014 and used loans
                                                                                          OR
                     If you did not use your Federal Stafford Unsubsidized loan for the year
 
           You may have remaining federal loan eligibility for summer.
  • Your parent may also apply for a Federal PLUS loan (Parent loan for undergraduate students) at www.studentloans.gov

Private Loans:

  • If you are not eligible for Federal Stafford Loan funds, you may explore alternative private loan options.  If you have remaining Federal Stafford loan eligibility, we will process those loan(s) first.

Important Facts:

  • Visiting Students are not eligible for ANY aid or loans.  Please check with your home institution.
  • If at any point, your enrollment drops to less than half time, your loans will be cancelled and you will be responsible for the unpaid balance. 
  • If you do not complete your courses, you may lose all of your funding and you will owe the University.
  • If you are not enrolled in any summer classes, you are not eligible to receive financial aid, even if you are living on campus.
  • Disbursement of aid will only occur on June 30th.  You cannot rely on having your financial aid funds available to pay for other expenses (e.g. rent, bills, etc.) beforehand.

To determine if you have remaining loan eligibility, please refer to the chart below:

Undergraduate Annual Federal Loan Limits:

                             Dependent Students
 
         Independent Student OR Dependent Students
        with parents who are not eligible for PLUS loans
      Academic Year
Maximum Federal Stafford
       (Sub/Unsub)
            Maximum Federal Stafford Loans
              (Sub/Unsub/Additional Unsub)
       1-29 Credits $3,500/$2,000 = $5,500           $3,500/ $2,000/ $4,000 = $9,500
      30-59 Credits $4,500/$2,000 = $6,500           $4,500/ $2,000/ $4,000 = $10,500
      60+ Credits $5,500/$2,000 = $7,500           $5,500/ $2,000/ $4,000 = $12,500

 Graduate Annual Federal Loan Limits:

* $20,500 Unsubsidized Stafford for MA, PhD and students in specific graduate Certificate Programs.

                         * Maximum of $12,500 Unsubsidized Stafford for students in Teacher Certification Programs.

                         * Graduate PLUS Loans are limited to matriculated MA, PhD and specific Certificate Programs.

 

Maximum Summer Budget:

   Level   # of credits     # of weeks enrolled  Housing StatusApproximate TOTAL Cost
Undergrad*              6                       8       Off-Campus               $ 3,818
Undergrad*              6                       8       On-Campus               $ 6,934
Graduate              6                       8       In-State               $ 8,347
Graduate              6                       8      Out of State               $ 9,636

           * There is no differential charge for in-state or out-of-state Undergraduate students for the summer.

Enrollment is verified to determine aid eligibility.  Students registered in more credits or for more than 8 weeks during the summer may qualify for an increase in their estimated cost of attendance.  Students registered for less than half-time are not eligible for federal student loans.

Undergraduate Summer Stafford Loan Request Form

Graduate Summer Stafford Loan Request Form