Federal Pell Grant
Eligible Pell Grant students may enroll part time or full time to receive this grant.
If you have been awarded your full-time scheduled Pell Grant during 2012-13, you would have no remaining Pell Grant eligibility from your 2012-13 scheduled award; however, if you are graduating in August or December, you may receive Pell Grant for the summer from your 2013-14 Pell Award.
Federal TEACH Grant
Undergraduate and graduate students who are completing or intend to complete coursework to begin a career in teaching and who agree to serve for a minimum of four years as a full-time, highly qualified, high-need field teacher in a low income school may qualify for this program. To apply for Federal Teach Grant for summer enrollment, click here.
The chart below indicates your potential maximum eligibility for the Federal TEACH Grant for the 2013 summer enrollment period:
|Summer Federal TEACH Grant Maximum Eligibility Chart|
WV PROMISE Scholarship
Summer WV Promise Scholarship awards are available on a limited basis to students eligible for scholarship continuation at the end of the academic year. To apply for the 2013 summer term, please fill out the summer PROMISE application at https://secure.cfwv.com/Financial_Aid_Planning/Scholarships/Promise/Summer_Award.aspx and submit to the West Virginia Higher Education Commission by April 30, 2013.
To be eligible for a summer award, a student must be academically eligible for scholarship continuation at the end of the spring semester preceding the summer that assistance is requested.
- A summer award counts as a semester of utilization toward the maximum number of available semesters.
- Priority for summer awards will be based on class rank with the highest priority given to students closest to graduation.
- Any summer award under this provision is dependent upon the availability of funds.
- Summer awards will not be made until early June; therefore, you may be responsible for payment until that time.
- To be eligible for a summer award you must be enrolled for at least 12 credit hours during the summer term(s) unless graduating at the end of 2012 summer term. Students graduating at the end of the summer term are only required to take 6 credit hours.
For more information, please contact the PROMISE Scholarship Office at (888) 825-5707.
WV Higher Education Adult Part-time Student (HEAPS) Grant
Undergraduate WV students may qualify for this grant if you attend summer part-time (less than 12 credits). Students who submit a Summer Financial Aid Request by the priority deadline of April 30, 2013, will be considered for this grant.
The chart below indicates your potential maximum eligibility for the WV HEAPS Grant for the 2012 summer enrollment period:
|Summer HEAPS Grant Maximum Eligibility Chart|
|Less-than half time||$313|
Federal Perkins Loan
The Federal Perkins Loan is available to undergraduate and graduate students who demonstrate exceptional financial need and who usually have already exhausted their Federal Direct Loan eligibility for the year.
The annual maximum loan limit for undergraduate students is $5,500 and the aggregate maximum is $27,500. The annual maximum loan limit for graduate students is $8,000 and the aggregate maximum is $60,000. However, due to limited funding availability annual award amounts awarded to Marshall University students are usually less than the maximum allowable. For the summer award period, students may not be awarded in excess of direct tuition and fee charges.
Your loan cannot be disbursed to your student account until you have signed the Federal Perkins Master Promissory Note, a legal and binding contract of your promise to repay the Perkins loan. Interest does not accrue while you are enrolled at least half-time. You have a nine-month grace period, which begins when you graduate or cease to be enrolled at least half time. At the end of the grace period, you begin repayment to Marshall University. The fixed interest rate of 5% begins when you go into repayment and monthly payments are calculated for full repayment within 10 years (120 months) or $40 monthly, whichever is greater.
The Bursar Office provides Perkins Loan management services to students, which includes Perkins Loan Entrance Loan Counseling, information about signing a Perkins, Master Promissory Note, Perkins Exit Loan Counseling, and collections.
Federal Direct Stafford Loan Program
Students are subject to annual Federal Direct Loan (FDL) limits each academic year. Annual FDL limits vary based on your dependency status and grade level. You must be enrolled at least half time during the summer to qualify for a FDL and have remaining loan eligibility based on your annual and aggregate limits. You will be considered for your maximum FDL eligibility if you indicate you want to be considered for a FDL upon submitting your Summer Financial Aid Request.
If you have never borrowed from the FDL Program, you will have to complete Entrance Loan Counseling electronically and sign an electronic FDL Master Promissory Note. Or, if you have previously borrowed from the Federal Direct Loan Program and your FDL Master Promissory Note is older than 10 years, you will have to sign a new one. To do this, please visit www.studentloans.gov .
For more information about Federal Direct Loans, please visit www.marshall.edu/go/loans.
Federal Direct PLUS Loan Program
This program is available to parents of undergraduate students and to graduate students who need funding beyond the Perkins and Direct Loans. Applicants must be credit-worthy to qualify for this program. A PLUS borrower may receive a PLUS Loan up to the total Estimated Cost of Attendance (COA) less financial aid resources received by the student.
Students must be enrolled half time to qualify for the Federal Direct PLUS Loan Program.
There are additional steps Federal Direct PLUS applicants must take to be considered for this program. For more information about the Federal Direct PLUS Loan Program and procedures to apply, please visit www.marshall.edu/go/loans, and then click on the Federal Direct PLUS Loan link.
Private Education Loans
Students who need additional funds after considering all other financial aid programs or are ineligible for any of the financial aid programs listed above may can consider a private education loan to assist with their educational costs.
This will require you to apply directly with a lender of your choice. For more information about private education loans, please visit www.marshall.edu/go/loans and then click on the Private Alternative Loans link.