· Summer 2019 Aid
Summer 2019 Financial Aid InformationIMPORTANT! Summer financial aid estimates are not available until mid-April, 2019. Therefore, the information on this page is intended to provide you with a general overview of the types of financial aid that may be available this summer. Funding for the summer semester is typically less than what’s available during the academic year, but funding for study abroad expenses can usually be obtained through a private student loan if you’re able to secure a co-signer with good credit. If you have specific questions or concerns about summer financial aid after you review the information below, contact your study abroad advisor to request the link to schedule an appointment with a financial aid counselor.
The requirements below are applicable to the summer aid programs included on this page unless otherwise noted:
- All types of aid below, with the exception of some private student loans, require the student to meet the Standards for Academic Progress (SAP).
- Half-time enrollment is required to receive certain types of financial aid. For financial aid purposes, half-time is defined as 6 credits for undergraduate and professional students, and 5 credits for graduate students.
- In addition to the 2018-19 FAFSA, the separate summer financial aid application which is required to initiate a summer aid estimate will be available on the NDSU website approximately April 15, 2019.
SUMMER GRANTSFederal Pell Grant
- Option 1: “Remaining” Pell Grant funds
If you were not enrolled full time (12 or more credits) for the 2018 fall and 2019 spring semesters, you may have remaining Pell Grant eligibility from the 2018-19 academic year. Half-time enrollment is not required.
- Option 2: “Additional” Pell Grant funds also called Year Round Pell
If you received 100% of your scheduled Pell Grant award during the 2018-19 academic year you may be eligible for additional Pell Grant funds during the summer. Must be enrolled at least half time (6 credits).
Availability of North Dakota State Grant funds for the summer semester will be determined by the North Dakota University System in April, 2019. If funds are available, those who meet the criteria below will receive consideration:
- Graduated from a North Dakota high school;
- Has financial need as determined by the 2018-19 FAFSA;
- Must be enrolled for a minimum of 3 credits.
The Teacher Education Assistance for College and Higher Education (TEACH) Grant is for students who intend to teach full time in an elementary or secondary school that serves students from low-income families for at least four of the eight years after their degree completion. If interested, a form must be completed and submitted to NDSU One Stop.
SUMMER LOANSFederal Direct Loans (subsidized and unsubsidized) do not require a credit check or co-signer, and typically have a lower fixed interest rate than private student loans. Eligibility requirements for Direct Loans include:
- Half-time enrollment or equivalent (6 or more credits for undergraduate and professional pharmacy students and 5 or more credits for graduate students); and
- Has not borrowed the annual limit for the 2018-19 year based on grade level – see the chart below; and
- Has not reached the following aggregate/lifetime Direct Loan borrowing maximum:
- Undergraduate Students - $31,000 for Dependent Students and $57,500 for Independent Students
- Graduate Students - $138,500
- Professional Pharmacy Students - $224,000
|Grade Level||Dependent Student||Independent Student|
Federal Direct PLUS Loan
A loan for educational expenses in which the parent is the borrower.
Private Student Loans (previously called Alternative Loans)
Non-federal, interest-bearing loans through a bank or credit union requiring a student borrower and a credit-worthy co-signer. Interest rates can be fixed or variable. Most lenders offer flexible repayment schedules and many have additional benefits such as an interest rate reduction with automatic payment and a co-signer release option.
- FASTChoice is an online loan comparison tool available to help you choose the lender and loan program that best suits your needs.
- A limited number of lenders will borrow to students who are not enrolled half time, not degree-seeking or not meeting the standards of Satisfactory Academic Progress (SAP). Please refer to FASTChoice for eligibility requirements.