Scholarships

Financial Aid for Summer Sessions?

I am currently a super senior (5th year) at my university and due to unforeseen circumstances, I will not be attending the school this year. Fortunately, I already have enough credits and all of my major work done to graduate in December. To help postpone the impending student loan repayment, I want to start a graduate program next year. The odd thing is my program starts in June of 08. Obviously since this a grad program, I will need assistance and since being enrolled is necessary for undergrad loan deferments, it is vital for me to begin planning now. Now, how would financial aid work for students beginning programs in June? Moreover, I’ve already filed my FAFSA for this year for my undergrad institution (which will not be my grad institution). Would I need to refile the FAFSA–by when if my grad school isn’t even accepting applications yet? Does federal aid cover summer school? This would be a lot easier if the program began in the fall like normal programs…

First of all, the Fafsa will cover you wherever you go. Just make sure that you list ALL schools you think you may attend, that way all your information will be on file. Next, most loans wait up to six months before you have to start paying back any money, you may want to call them and give them a heads up about your situation. THey may be able to work with you in terms of time. If not then you might also be able to ask for a forbearance. Most loan institutions are really good about these; it only requires filling out a paper explaining why you need the forbearance. If none of these options work then you may have to pay your loan for a couple of months before you enroll again and then you can defer your loans again.
Good LUck:0