Students interested in receiving financial aid (federal/scholarships – if applicable) during the summer should enroll for the summer. All financial aid awards will be defaulted at the minimum half time credit allowance of three (3) credits. Once you have actually registered for courses for the summer. Prior to your aid being disbursed, your award package will be adjusted to reflect your actual enrollment, should it be greater than 3 credits. A student must be enrolled at least half time (3 or more credits), to qualify for loans during the summer.
The financial aid available during the summer usually consists of the Federal Direct Unsubsidized Stafford Loans. Rising second or third year students, who have not used their qualifying scholarships for their ONE summer of enrollment, will have their scholarship offered to them in their award packet. You must accept the award in order for it to be applied towards your summer bill. Rising second year students have the option of declining the award, should you elect to save it for your rising 3L year. The Federal Direct Graduate PLUS Loan is also an additional loan option that is available.
Students who are borrowing Federal Loans for the first time during the summer must complete Entrance Counseling. They must also complete a Master Promissory Note (MPN) for the Stafford Loan in order for the loans to disburse. The maximum amount available in the Stafford Loan Program is $10,250. Eligibility is based on the student's Cost of Attendance (COA) minus any scholarships being used for the summer. Click here for more information on Stafford Loans.
The PLUS eligibility will be determined based on the student's COA minus other aid (scholarships/Stafford Loans). Click here for more information on the Graduate PLUS Loan.
Students taking classes elsewhere during the summer must have approval from the Associate Dean of Academics and complete the Consortium Agreement prior to any aid being processed. Student may NOT use their scholarship for courses taken outside of the University of Miami. All federal loans will be disbursed based on our summer enrollment period.