Summer Financial Aid

Summer financial aid is extremely limited due to the amount a student can receive in Pell Grant and Direct Loans in one academic year. Many students utilize the full value of their financial aid eligibility during the fall and spring semesters; therefore, a student may not have any remaining financial aid eligibility for the summer. For example:

  • If you have Federal Direct Loan eligibility for the academic year and you use all of that eligibility in the Fall and Spring semesters, there will be no Direct Loan available to use for summer sessions. Please see Annual Federal Direct Loan Maximums Chart below.
  • If you have Federal Pell Grant eligibility for the academic year and you enroll full-time in the Fall and Spring semesters, there will be no Pell Grant available to use for summer sessions. If you enroll part-time during the Fall or Spring semester, you may have additional Pell Grant available for summer sessions.
How to Apply
  1. Summer term aid requires a 2013-14 Free Application for Federal Student Aid (FAFSA). If you have not applied, please go to: www.fafsa.ed.gov and add our School Code: 003450.
  2. The USCB 2014 Summer Financial Aid Application is also required and will be available online beginning April 1st on your Self Service Carolina (SSC) account.
  3. Summer processing Priority Deadline is May 1, 2014. After May 1st, we will still consider you for summer financial aid, but cannot guarantee that your aid will be available by the summer fee payment deadline. You may update this application at any time until June 1, 2014.
  4. Verify and finalize any pending items. If we need additional information to process your summer financial aid request, we will notify you by your USCB e-mail. Please respond promptly.
  5. Register for Summer classes. Financial aid will be awarded according to the planned enrollment you indicated on your Summer Financial Aid Application. Failure to enroll as indicated voids your application including all financial aid awarded, with the possible exception of the Federal Pell Grant. If your enrollment plans change, please update your Summer Financial Aid Application online at SSC by the deadline date of June 1, 2014.
Sources of Summer Aid
All financial aid, with the exception of the Pell Grant, requires enrollment in a minimum of 6 credit hours.
 
  • Pell Grant: You will be considered for this automatically, and you may be eligible for funds for Summer.
  • SEOG: If you are Pell eligible, you will be considered for this automatically, and awarding is contingent upon availability of funds.
  • Work-Study: Awarding is contingent upon availability of funds
  • Direct Subsidized and Unsubsidized Loans: You may be eligible for loan funds for Summer, if you did not receive your annual maximum award during the 2013-2014 academic year.

 Annual Federal Direct Loan Maximums:

Year

Dependent Undergraduate

Independent Undergraduate*

Freshman

0-29 credits earned

$5,500—No more than $3,500 of this amount may be in subsidized loans.

$9,500—No more than $3,500 of this amount may be in subsidized loans.

Sophomore

30-59 credits earned

$6,500—No more than $4,500 of this amount may be in subsidized loans.

$10,500—No more than $4,500 of this amount may be in subsidized loans.

Junior & Senior

60+ credits earned

$7,500—No more than $5,500 of this amount may be in subsidized loans.

$12,500—No more than $5,500 of this amount may be in subsidized loans.

 

  • Direct Parent PLUS Loans: Parent(s) of dependent students may be eligible to borrow a fixed interest, federally insured loan to pay educational expenses. To apply the parent must go to www.studentloans.gov,
  • Private Educational Loans: USCB does not make recommendations on private loan lenders. Therefore, you are advised to thoroughly compare private loan programs before choosing a lender. Interest rates, fees, and other provisions of these programs may be subject to change; be sure you have all of the facts. You must contact lenders directly to obtain detailed information regarding their loan products and application process.
 Disbursement of Summer Financial Aid Funds
  • You must be making Satisfactory Academic Progress in order to receive financial aid for the Summer term.
  • Disbursement of most financial aid funds will occur once you establish the minimum half-time (6.0 to 8.0 credit hours) attendance requirement.
  • Loan funds will be disbursed in one disbursement on the 1st class day of the session in which you establish half-time attendance. You cannot receive loan funds until you begin attending classes in the minimum number of hours that are required for half-time enrollment (6.0 to 8.0 credit hours). For example, if you enroll in 3.0 hours for the Summer I Session (classes begin in May) and 3.0 hours in the Summer II Session (classes begin in July) you will not receive any loan funds until the Summer II Session begins in July.