Important Summer Financial Aid Information

Summer Term financial aid application for SUMMER 2008 will be available exclusively ONLINE only. The application is located on MyFAU beginning the first BUSINESS DAY in February. Click on the "Money Matters!" tab, then click on the Summer Financial Aid Application link. Apply early because funds will be available on a first-come first-served basis.

SUMMER 2008 award packages will begin to be posted on MYFAU beginning mid-March (Log on to MyFAU, click on the Money Matters! tab and then click on "View 2007-2008 Financial Aid Information" link).

SHORT TERM ADVANCE (website)

Applications for SUMMER Short Term Advances will OPEN two weeks prior to the beginning of the term (see the Important Dates section of this website for more details). Applications are located on MyFAU and click on the Money Matters! tab.

Short Term Advance Application for SUMMER terms will CLOSE two weeks prior to the end of the term.

To receive a FAU Short Term Advance, students must have a bank account with Direct Deposit Authorization. Direct deposit of funds is preferred to go to BankAtlantic accounts, however, FAU is able to direct deposit funds into your existing financial institution. Click here for more information regarding the direct deposit online form and FAQs. If you do not already have an account, you may sign-up anytime with BankAtlantic.

SUMMER ENROLLMENT REQUIREMENTS:

Financial Aid applicants must register for ALL summer sessions (Summer A, B, or C) by May 16, 2008, and must remain at least half-time (see criteria below for definition of half time enrollment) to be considered eligible for most forms of aid. A late registration fee of $100.00 will be assessed after this date.

Please be advised that, regardless of award projections, all types of grant support are directly linked to the hours attending. At the end of drop/add week, it is your final enrollment upon which grant disbursements will be calculated. Grants may be reduced based on changes in hours attended. Enrollment classification is determined according to the table below:

FULL TIME ENROLLMENT	CREDIT HOURS
Undergraduate (including second bachelors)	12 or more hours
Graduate	6 or more hours
3/4 TIME ENROLLMENT	CREDIT HOURS
Undergraduate (including second bachelors)	9 - 11 hours
Graduate	4 - 5 hours
1/2 TIME ENROLLMENT	CREDIT HOURS
Undergraduate (including second bachelors)	6 - 8 hours
Graduate	3 hours
LESS THAN HALF TIME	CREDIT HOURS
You will NOT be eligible for grants if you are enrolled less than ½ time at FAU. In some cases, Federal PELL Grant recipients may be eligible to receive their PELL Grant with less than ½ time enrollment. There are some Private Alternative Loans available for students enrolled less than half-time.

SUMMER DISBURSEMENT INFORMATION:

Please pay careful attention to the items below regarding Summer Financial Aid Status.

Concurrent Enrollment

Students who are planning to take courses at another institution in addition to taking courses at FAU must submit concurrent enrollment paperwork in order to have their financial aid eligibility based on their combined enrollment at both institutions. To be considered for most forms of aid, you must attend half time at FAU (see the SUMMER ENROLLMENT REQUIREMENTS section above for definition of half time enrollment). The Concurrent Enrollment Form is available online in .pdf format for you to download and print. Concurrent enrollment paperwork must be submitted by May 16, 2008.

Consortium Student

Consortium students are defined as students taking NO credits at FAU for ALL SUMMER 2008 terms but planning to receive aid from FAU while attending another institution. Consortium Students should review and complete the Consortium Student Information Packet. This packet is available online in .pdf format for you to download and print.

Pell, ACG & SMART Grant Recipients

Pell, ACG & SMART Grants may be available to qualifying students who have not utilized their annual award eligibility during the current school year. Pell Grants may be disbursed to students attending less than half-time. If total enrollment is dependent on B-term credit hours, NO grant funds will not be disbursed until B-term, even if you are also registered for A and C terms.

Stafford Loan Recipients

There are Annual Stafford Loan Limits which represent the maximum which you are allowed to borrow through the Federal Stafford Loan Program each academic year. Annual Stafford Loan limits vary based on your dependency status and grade level. Please review the attached table for more details regarding your Federal Stafford Loan Borrowing Eligibility.

Important Note for Federal Stafford and Federal PLUS Loan Recipients: If you do not maintain half time enrollment and attendance status for the entire Summer 2008 term , you may be required to immediately repay any disbursed loan proceeds for the Summer 2008 term. This includes (1) any amount of disbursed loan proceeds which were applied as payment for tuition for your Summer A, Summer B, and Summer C classes and (2) any residual funds you received from loan proceeds after tuition was paid.

FAU Undergraduate, FAU Graduate & SEOG Grant Recipients

Institutional grants (FAU Undergraduate Grant, FAU Graduate Grant, and SEOG) will be awarded on a first-come first-served basis to students meeting the program eligibility requirements. Because of this, it is advised that students complete the summer financial aid application as close to February 1st as possible. Payment amounts will be based on attending hours (see the SUMMER ENROLLMENT REQUIREMENTS section above for definition of enrollment levels). If total enrollment is dependent on B-term credit hours, NO grant funds will not be disbursed until B-term, even if you are also registered for A and C terms.

Deferment of Tuition Payment

Tuition and fees will be automatically postponed for all financial aid recipients whose signed award letter has been received by May 19, 2008. IN ORDER TO AVOID A LATE FEE, ALL REQUIRED DOCUMENTS FOR AWARD ACCEPTANCE MUST BE SUBMITTED BY May 16, 2008. If your financial aid award (excluding Federal Work Study) is insufficient to cover your tuition and fees, you will be assessed a late fee of $100.00 unless you pay the difference by May 19, 2008.

Last Modified - 07/02/08 23:03:38