Subsidized Direct Loans are available to undergraduate students who demonstrate financial need

GRANTS

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These funds are need based and do not have to be repaid. Summer grants are offered to undergraduate students only.

Federal Pell Grant: is awarded to students who file a FAFSA and do not exceed the Expected Family contribution range established by the US Department of Education. Award amounts will vary depending on a students Expected Family Contribution and unit enrollment.

University Grant: is awarded to students who file an on-time FAFSA or DREAM application. Students enrolled in less than 8 units are ineligible for University Grant funds in the Summer.

Cal Grants: are offered to FAFSA and DREAM applicants who graduate early and will not need their Cal Grant during the academic year. Award amounts will vary depending on the amount of summer fees. Cal Grants will be awarded mid-summer and will reduce your University Grant eligibility

Federal Work-Study: offered to on-time FAFSA eligible students who demonstrate financial need and request work-study on their summer application. The maximum award amount is $1800 (subject to change based on availability of summer funding). Students can work 20 hours per week.

FEDERAL LOANS

The Direct Loan Program consists of low-interest Subsidized (need-based) and Unsubsidized (non-need based) loans funded by the US Department of Education. Loans are available to FAFSA eligible students. Additional information about the Direct Loan Program is available under the Guides & Publications section on the Financial Aid & Scholarships Website.

Loan repayment will begin six months after graduation or dropping below half-time enrollment. Accrual of interest will begin immediately after graduation or dropping below half-time enrollment.

Unsubsidized Direct Loans are available to all students regardless of income. Interest accrues from the date of disbursement but the extra costs of accrual can be avoided by paydayloanadvance.net/payday-loans-ny/ making interest payments while in school.

Subsidized and Unsubsidized Direct Loan eligibility for the summer is subject to the maximum annual loan limits. Federal loans disbursed in the summer will reduce your academic year eligibility.

Direct PLUS Loans are offered to parents of undergraduate students via the student’s Financial Aid Notification. A separate application with the US Department of Education is required in order to determine final eligibility. PLUS loans are available only to borrowers who do not have adverse credit histories. Final eligibility is determined by the US Department of Education. Interest begins to accrue from the date of disbursement. Repayment begins 60 days after the loan is fully disbursed but can be deferred until graduation.

To complete the summer PLUS Loan Application, visit the US Department of Education – Parent Plus Loan page and indicate a loan period of .

Private Loans: These loans will be offered to students who receive the maximum award amounts under the federal loan program for the summer and the academic year and still require additional funding. Private loans are funded by banks and lending institutions and often require a co-signer. Students and/or co-signers will have to pass a credit check, performed by the lender, before their private loans are approved. The interest rate and repayment terms will vary since these loans are not federally guaranteed. If you are awarded a private loan, see the Private Loan Guide available under the school year section of our Forms and Publications page.

Summer Disbursements

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Financial Aid and Scholarships will verify your enrollment status before disbursing funds to your account. You must be enrolled in at least 6 units before we can release your aid to your BruinBill account. Disbursements start 10 days before the first day of summer sessions. When aid is disbursed to BruinBill, it will pay your Summer tuition and fees. A refund will be generated for any balance remaining and released to you to be used for your educational and living expenses.