Students who receive financial aid during the regular school year and anticipate enrolling for a summer session should plan their budget ahead of time. The more federal direct loan funds a student borrows during the fall and spring semesters, the fewer loan funds will be available for the summer session.
To qualify for summer aid, students must have completed the Free Application for Federal Student Aid for the 2017-18 academic year.
Students who have borrowed the annual loan limit for federal direct loans may apply for a federal Direct PLUS loan or a private loan.
Students should inform the VCU Office of Financial Aid if they received financial aid from another school during the academic year.
Apply for summer 2018 aid
- Complete the 2018 Summer Financial Aid Application Form. Summer aid applications will not be processed until the VCU Office of Financial Aid receives the results of the student’s 2017-18 FAFSA. Financial aid awards cannot be added or increased once the Summer Financial Aid Application has been submitted (exceptions possible for the federal Pell Grant).
- Review the Summer Financial Aid Award Notification. Students will receive an email notification once the Summer FAAN posts to eServices. The VCU Office of Financial Aid assumes students will accept all aid offered unless the student completes and submits a to reduce or decline aid. Financial aid not listed on the FAAN, including scholarships, must be reported on the change form.
- Sign the Master Promissory Note. Students who have been awarded a federal direct loan or parents borrowing a federal Direct PLUS loan must sign the Master Promissory Note if they have not already done so for the 2017-18 academic year.
- Register for classes. To receive financial aid during the summer session, students must enroll at least half time in an approved program of study (six credit hours for undergraduate students and five credit hours for graduate students). Exceptions to the half-time enrollment requirement are possible for undergraduate students receiving the federal Pell Grant.
- Note enrollment changes. The VCU Office of Financial Aid will conduct an eligibility audit after the last summer session has started. If a student has dropped below half-time enrollment, all federal loans for the summer session will be canceled. If the student received a federal Pell Grant, it also may be reduced or canceled. The student will have to repay all reduced or canceled financial aid that has been credited to their VCU student bill. If a student withdraws from all classes before completing 60 percent of the session, financial aid eligibility must be recalculated based on the federal Return of Title IV Funds formula.
- Receive a refund. When financial aid funds exceed university charges, students receive refunds. direct deposit bank authorization of a refund is faster, easier and more secure than mail delivery of a paper check. Students who already have direct deposit with VCU do not need to complete another form unless there have been changes to their bank account.