Summer Financial Aid is Available

Requirements to receive summer financial aid:

  1. Enroll in summer courses. Financial Aid awards will be completed once you are enrolled in summer courses. No awards will be given until this time.

  2. Complete the 2013-2014 Free Application for Federal Student Aid (FAFSA) if you have not already done so.

  3. Also, complete the 2014-2015 FAFSA if you have not already done so.

  4. For full consideration of summer aid, email our office with "Summer Aid" in the subject line along with your Rollins ID number in the text.

Your Summer Financial Aid options are based on your total enrollment. Withdrawals may impact your Summer 2014 financial aid as well as your future financial aid (including the 2014-2015 academic year). If you are considering withdrawing, please contact our office in order to evaluate the impact.

Add the number of credit hours you are enrolled in during Maymester, Summer term 1, and Summer term 2. Based on this total enrollment, here are your options:

  1. Undergraduate Enrollment total less than 6 credit hours.

  2. Undergraduate Enrollment total greater than 6 credit hours.

  3. Graduate Enrollment total less than 3 credit hours.

  4. Graduate Enrollment total greater than 3 credit hours.

  5. Borrowing Loan Limit Chart.

Undergraduate Enrollment total less than 6 credit hours:

  • Federal Pell Grant

    • You must have remaining eligibility from the Fall 2013 or Spring 2014 semesters

      • Typically, this occurs when you were enrolled in less than 12 credit hours in either the Fall 2013 or Spring 2014 semester.

    • Amount may range from $287 to $694

  • Federal Stafford Loan

    • No eligibility. You must enroll in at least 6 credit hours in order to qualify for a loan.

  • Federal PLUS Loan

    • No eligibility. You must enroll in at least 6 credit hours in order to qualify for a loan.

Undergraduate Enrollment total greater than 6 credit hours:

  • Federal Pell Grant

    • You may receive the higher of:

      • Remaining eligibility from the fall and spring semester

        • Typically, this occurs when you were enrolled in less than 12 credit hours in either the Fall 2013 or Spring 2014 semester.

    • Amount may range from $287 to $2775

  • Federal Stafford Loan

    • Loan is based on grade level.

      • Maximums for dependent, undergraduate students by grade level:

        • Freshmen = $5500

        • Sophomore = $6500

        • Junior and Senior = $7500

      • Remaining eligibility from the Fall 2013 or Spring 2014 semesters

        • Example A: if you are a sophomore and you borrowed the $6500 maximum during the Fall 2013 or Spring 2014 semesters, you have no remaining eligibility.

        • Example B: if you are a sophomore and you borrowed $4000 during the Fall 2013 or Spring 2014 semesters, you have $2500 of remaining eligibility.

      • Advance a grade level

        • Example C: if you are a sophomore and you borrowed the $6500 maximum during the Fall 2013 or Spring 2014 semester sand you completed enough courses to be considered a junior during the summer terms, you have $1000 of remaining eligibility based on advancing a grade level ($7500 - $6500 = $1000).

        • Example D: if you are a junior and you borrowed the $7500 maximum during the Fall 2013 or Spring 2014 semesters and you completed enough courses to be considered a senior during the summer terms, you still have no remaining eligibility based on advancing a grade level ($7500 - $7500 = $0).

  • Federal PLUS Loan

    • Parents may also apply for a credit-based Parent PLUS loan.

    • Eligibility based on cost of attendance minus other aid.

Graduate Enrollment total less than 3 credit hours:

  • Federal Stafford Loan

    • No eligibility. You must enroll in at least 3 credit hours in order to qualify for a loan.

  • Federal PLUS Loan

    • No eligibility. You must enroll in at least 3 credit hours in order to qualify for a loan.

Graduate Enrollment total greater than 3 credit hours:

  • Federal Stafford Loan

    • Loan maximum is $20,500. 

      • Remaining eligibility from the Fall 2013 or Spring 2014 semesters

        • Example A: if you borrowed the maximum $20,500 during the Fall 2013 or Spring 2014 semesters, you have no remaining eligibility for the summer.

        • Example B: if you borrowed $10,000 during the Fall 2013 or Spring 2014 semesters, you have $10,500 of remaining eligibility ($20,500 - $10,000 = $10,500).

  • Federal PLUS Loan

    • Graduate students may also apply for a credit-based GRAD PLUS loan.

    • Eligibility based on cost of attendance minus other aid.

Borrowing Limits The annual borrowing limit is determined by your degree status grade level and your dependency status (based upon information you supplied on your FAFSA). In addition to annual loan limits, there are also lifetime Stafford loan borrowing limits, also known as the aggregate limit.

Annual limits for loans disbursed on or after July 1, 2008

Annual Limits

Dependent Student

Independent Student

First Year Undergraduate (0-29 credit hours earned)

$5,500

$9,500

Second Year Undergraduate (30-59 credit hours earned)

$6,500

$10,500

Third Year and beyond Undergraduate (greater than 60 credit hours)

$7,500

$12,500

In addition to the annual borrowing limits, there is also an aggregate, or cumulative, lifetime borrowing limit.

Aggregate Limits

Subsidized

Total

Dependent Undergraduate

$23,000

$31,000

Independent Undergraduate

$23,000

$57,500

Financial Aid Office
Location: Rinker Building
Summer Hours:
Mon-Thur: 8:30a.m.-5:00p.m.
Fri: 8:30a.m.-4:00p.m.

T. 407.646.2395
F. 407.646.2173
E-mail: finaid@rollins.edu


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