Summer Financial Aid Information and Application Page

Summer 2012 Financial Aid Information

The summer financial aid awarding process is a separate process from the Fall and Spring semesters. We will begin reviewing summer applications no later than April 1.  Summer award notifications will be sent via AP e-mail.  To be reviewed for Summer 2012, complete the following steps.

1. We must have a valid 2011-2012 FAFSA on file. If you have not completed your 2011-2012 FAFSA or have a completed application but need to add APSU’s School Code (003478), go to  http://www.fafsa.gov.
2. You must be officially admitted to APSU as a degree seeking student. If you have not yet applied for Admission, you may do so online at http://www.apsu.edu/admissions .
3. Complete and submit the Summer 2012 Application  and return the completed application to our office. You will be reviewed for Federal Pell Grant, Tennessee Lottery, and Direct Student loans eligibility. Student loan recipients must be enrolled a minimum of half-time and may only receive the balance of eligibility remaining after fall and spring semesters, up to the cost of attendance.  You must request Federal Work Study on your application to be considered for that program.  Limited funds are available. To receive any remaining Summer Federal Pell Grant a student must be registered/pre-registered for summer courses by June 17th.
4. An award may be offered prior to the beginning of Summer.  However, to receive the summer funds you must be maintaining Satisfactory Academic Progress. The guidelines are available at http://www.apsu.edu/financialaid/SAT_PROG. If you are not meeting the Satisfactory Progress guidelines and have confirmed your classes and cannot pay, you should withdraw from your courses prior to the first day of class. Failure to withdraw will result in your liability for any unpaid fees on your account.

Important Information for Summer 2012

Federal Pell Grant  If you did not receive all of your Pell Grant funds for the 2011-2012 academic year, you will be reviewed for any remaining Pell Grant fund eligibility for summer.

Federal TEACH Grant If you did not receive all of your TEACH grant funds for the 2011-2012        academic year, you may receive the remaining TEACH award. To review eligibility requirements and complete the checklist, visit http://www.apsu.edu/financialaid/austin-peay-teach-grant-requirements

Tennessee Education Lottery  If you did not receive all of your lottery funds for the 2011-2012 academic year, you may receive the remaining lottery eligibility.  If you first received a Tennessee Education Lottery Scholarship Fall 2009 or after, you may be eligible for an additional Lottery Scholarship in the summer.  You must be enrolled a minimum of (6) credit hours and degree seeking.  Awards are tentative until new or continuing eligibility requirements are confirmed.

Federal Direct Loan  For the Federal Direct Loan Program, all undergraduate students must be enrolled for at least six (6) credit hours during summer. Graduate students must be enrolled for at least three (3) graduate level credit hours during Summer Semester 2012.  Undergraduate students enrolling at the Main or Fort Campbell campus must be enrolled in at least 6 credit hours to be eligible for student loans.  Graduate students must enroll in at least 3 graduate level hours for summer and at least 4 graduate level hours for all other semesters.

If you have borrowed your maximum loan eligibility during the academic year, you will not be eligible to receive loan funds for the summer term(s).  The following are maximum yearly amounts, but you may not qualify to receive the full amount listed below.  Loan amount eligibility is based on a financial aid calculation.                                                         

                                  Dependent          Independent & Dependent with Parent Plus Denial

Freshman Eligibility        $5,500.00                           $9,500.00

Sophomore Eligibility     $6,500.00                           $10,500.00

Junior Eligibility               $7,500.00                          $12,500.00

Senior Eligibility              $7,500.00                          $12,500.00

Graduates                                                                 $20,500.00

Aggregate loan limits for Direct Subsidized and Unsubsidized Loans:

• $31,000 for Dependent undergraduate students, excluding those whose parents are unable to borrow a PLUS Loan (no more than $23,000 may be subsidized).
• $57,500 for Independent undergraduate students and Dependent undergraduates whose parents are unable to borrow a PLUS loan (no more than $23,000 may be subsidized).
• $138,500 for graduate or professional students (no more than $65,500 may be subsidized; includes loans for undergraduate study).

Important note:  effective July 1, 2012, graduate students may only receive Direct Unsubsidized Stafford Loans.  Subsidized will no longer be available.

Example of someone not eligible for Summer loan funds:

Sue is an independent sophomore who borrowed the maximum ($4,500 Subsidized + $6,000 Unsubsidized = $10,500) for Fall/Spring semesters. She has not changed grade levels and remains a sophomore.  She would not have remaining loan eligibility for the Summer term(s).

John is a dependent freshman who borrowed the maximum ($3,500 Subsidized + $2,000 Unsubsidized = $5500) for Fall/Spring semesters. He has not changed grade levels and remains a freshman. He would not have remaining loan eligibility for the Summer term(s).

Example of someone who may be eligible for Summer loan funds:

Ethan is a dependent senior who borrowed $4,000 in loans during the Fall & Spring semesters. He is still eligible to apply for a summer loan for the remainder, which may be a maximum of $3,500.

Annie is an independent sophomore who borrowed the maximum ($4,500 Subsidized + $6,000 Unsubsidized = $10,500) for Fall & Spring semesters. At the end of the Spring semester, she has progressed to Junior status. Her new annual limit increases by $2000 and can be reviewed for this amount for the Summer term(s).

Important Dates for Summer 2012

You must confirm your classes via AP One Stop or through the Bursar’s Office to secure your classes. Visit the Academic Calendar at  http://www.apsu.edu/registrar/acadcal for these important dates and http://www.apsu.edu/registrar/confirm for step by step instructions on AP One Stop confirmation.   

Direct Deposit Refunds will not be released until all Summer charges are paid in full. For more information, visit http://www.apsu.edu/Bursar .