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APPLYING FOR AID

Summer & Winter Minimester


Winter Minimester Aid

For Federal Pell Grant calculations, the three-week January Minimester is combined with the Spring term. Spring Pell Grant disbursements are based on your combined units for the Minimester and Spring terms. Minimester units only change spring aid if they increase your enrollment status for the spring aid period.

Examples:

  • Undergraduate students with 3 Minimester units and 9 spring units are eligible for full-time spring Pell Grants (12 units).
  • If you are already full-time based on only your spring units, then Minimester units won’t change your Pell Grant.

Summer Aid

Summer financial aid is usually limited to your remaining annual awards from the Federal Pell Grant and Federal Direct Loan programs. For more information about these programs, see the sections below. To receive federal aid, you must also meet the federal "General Eligibility" requirements.

Summer Aid Application Process
  1. If you have not already done so, you must submit a 2014-2015 Free Application for Federal Student Aid (FAFSA)
  2. Because your summer aid eligibility will depend on your total summer course units, you must register for your summer courses before you submit your summer aid application.
  3. Complete the Summer 2015 Aid Application.

If your summer aid exceeds your university charges, your account will have a credit balance.  Rebate checks for credit balances are usually available three weeks after the credit balance occurs.  The Bursar’s Office will issue rebate checks no earlier than the first day of classes.

Summer Pell Grants

Federal Pell Grants are only available to students with exceptional financial need who are pursuing their first Bachelor's Degree.

  • If you received a Federal Pell Grant for the 2014-2015 academic year, and you did not attend full-time for both Fall 2014 and Spring 2015, then you may have some leftover Pell Grant eligibility for summer 2015.
  • Your summer Pell Grant will be determined using a formula that considers your remaining 2014-15 eligibility, the number of weeks in your summer attendance, and the number of units for which you register. 
Summer Loans

To receive a Federal Direct Student Loan for the Summer Sessions, you must meet these additional conditions:  

  • You must register for and remain enrolled for at least 6 summer units. (For example, 3 units for Summer Session I and 3 units for Summer Session II)

  • You must not have already exhausted the annual loan limit for your grade level (as determined by your earned units). See the table below.

  • To view the amounts you already borrowed for 2014-15, please login to:
  • Your total summer aid, also cannot exceed your summer Cost of Education budget.

If you have not already borrowed your maximum 2014-15 loan amounts, then you should be able to borrow your remaining eligibility for the summer.  (For example, a freshman who only borrowed $3,500 for Fall 2014 and Spring 2015 could borrow up to $2,000 in unsubsidized loan for the summer.)

ANNUAL DIRECT LOAN LIMITS

Grade Level

Earned Units

Maximum Subsidized Portion*

Additional Unsubsidized Portion
Total Direct Loans

Dependent Students:

Freshman

0-29

$3,500*

$2,000
$5,500

Sophomore

30-59

$4,500*

$2,000
$6,500

Junior

60-89

$5,500*

$2,000
$7,500
Senior
90+
$5,500*
$2,000
$7,500
Independent Students:

Freshman

0-29

$3,500*

$6,000
$9,500

Sophomore

30-59

$4,500*

$6,000
$10,500

Junior

60-89

$5,500*

$7,000
$12,500
Senior
90+
$5,500*
$7,000
$12,500

Graduate

N/A

N/A*

$20,500
$20,500

*Subsidized loans require financial need. Students without sufficient financial need can still borrow the same total loan Direct Loan amounts, but more or all of their loans will be Unsubsidized. Graduate students are only eligible for Unsubsidized Direct Loans.. 

The Federal Direct Student Loan Program also has aggregate (lifetime) limits:

AGGREGATE (Lifetime) DIRECT LOAN LIMITS

Students

Maximum Subsidized Portion

Additional Unsubsidized Portion

Total Direct Loans

Dependent Undergraduates

$23,000

$8,000

$31,000

Independent Undergraduates

$23,000

$34,500

$57,500

Graduate Students
N/A
N/A
$138,500*

*The graduate limit includes all undergraduate and graduate loans.

 

Financial Aid Office
Enrollment Services, Room 339
Hours: Monday - Thursday, 8 a.m. - 5 p.m.; Friday, 8 a.m. - 4:30 p.m. (Reception Desk)
            Monday - Thursday, 8:30 a.m. - 5 p.m.; Friday, 8:30 a.m. - 4:30 p.m. (Financial Aid Call Center)

Phone: 410-704-4236
Fax: 410-704-2584
E-mail: finaid@towson.edu



Announcements
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• You may be eligible for financial aid for Summer Trimester. Look into the requirements.

You must complete a separate application for Summer Trimester financial aid.



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