Aid begins crediting bursar accounts on May 19. The bursar’s office then requests refunds. Direct Deposit takes 2-3 business days. Checks take 7-10 business days. Aid cannot disburse until 10 days before the student’s first day of classes. Students only enrolled in courses beginning after May 29 will not have aid credit their bursar account on May 19.
|Stafford Loan Limits based on class standing|
The amount of Federal Pell Grant you may be eligible to receive in the summer session depends on a few factors. If you did not attend full time in both the fall and spring semesters (at IU Southeast or another institution), you most likely will have Pell Grant eligibility left for the summer session(s). The amount that you may receive for summer will be dependent on the amount of Pell Grant you have remaining and the number of credit hours in which you enroll.
If your initial summer enrollment is before the Summer I census date, May 16, 2014, your Federal Pell Grant will be calculated based on the number of hours in which you are enrolled on May 16, 2013. If you add classes after May 16 you will not receive an increase in your Federal Pell Grant. If your initial enrollment is after May 16, 2013 your Federal Pell Grant will be calculated based on your enrollment at the time we post the award to your account.
If you withdraw from any of your summer courses your Federal Pell Grant and other Federal Funding will be adjusted accordingly. Please contact our office if you are considering schedule changes.
Summer Pell Scenarios
On May 16, Mark is enrolled in 3 credit hours for Summer Session 1 and 3 credit hours for Summer Session II. He receives a Pell Grant based on 6 credit hours of enrollment.
On May16, Miguel is registered in 6 hours in Summer Session I. He is awarded Federal Pell Grant based on 6 hours of enrollment. On May 21, he added 6 hours for Summer Session II. His Federal Pell Grant is not increased because on May 16 he was in 6 hours.
Molly registers for 6 hours in Summer Session II on June 16. This is her initial registration for the summer term. She is awarded a Federal Pell Grant based on 6 hours of enrollment.
Please contact our office should you have questions or regarding this message or other financial aid concerns.
Students who did not use 15 hours of 21st Century Scholars in both the fall and spring may have remaining award eligibility for the summer.
Students who received their first 21st Century award in the Fall 2013 semester must earn 30 credit hours by the end of the summer semester. Contact financial aid if you need assistance funding summer enrollment to meet the 30-hour requirement.
Students who did not use 15 hours of their O’Bannon Grant in both the fall and spring may have remaining award eligibility for the summer.
Students who received their first O’Bannon Grant award in the Fall 2013 semester must earn 24 credit hours by the end of the summer semester. Students who earn 30 credit hours will receive an increased award amount in the 2014/2015 academic year.
Work Study awards are available in the summer. If you are interested in Work Study in the summer and you did not receive an award, contact the financial aid office.
CVO recipients must file the 2014/2015 FAFSA to receive the award in summer.