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Summer Session Financial Aid

Financial Aid for Summer 2018

CSU Long Beach has limited funding available for CSULB students attending Summer semester. Summer 2018 is considered part of the 2017-2018 academic year so your eligibility will be based on remaining financial aid from your 2017-2018 awards.

 

Types of Summer Financial Aid - Federal Loans

Summer financial aid funding is available from federal programs to CSULB students. Eligibility for federal loans will depend upon your remaining/unused loan funds from the Fall and Spring semesters. 

Federal Loans (Direct Student Loan)

Federal Direct Subsidized & Unsubsidized Loans for Summer are available only for students whom:

  • Have not already used their full eligibility during the 2017-2018 academic year
  • Are meeting CSULB’s SAP standards
  • Undergraduate & Credential Students:
    Enrolled in a minimum of 6 credit hours during the Summer 2018 term
  • Graduate/Professional Students:
    Enrolled at least half time during the Summer 2018 term. Master’s Degree - enrolled in a minimum of 4 credit hours & Doctoral Degree - enrolled in a minimum of 3 credit hours

If you submit a summer loan request, we will calculate your summer loan eligibility based on your planned enrollment which includes your exact courses, costs and dates of your summer enrollment. Applications received will be processed on a rolling basis in order of date received. Please allow a minimum of two weeks for processing.

To Apply for a Summer Direct Subsidized or Unsubsidized Loan:

  1. Request a Summer Direct Student Loan Request Form.
    1. This form will be available beginning 03/15/2018.
    2. This form will only be available at the Financial Aid Windows – 1st floor Brotman Hall Courtyard.
  2. Meet with a Financial Aid Counselor to determine your loan eligibility, and submit your completed request form to our office.
  3. Applications will be accepted beginning 03/15/2018. Applications received after the end of your summer enrollment period cannot be processed. Summer Direct Student Loan Requests should be submitted prior to June 1, 2018 to ensure proper processing of the request and timely disbursement of loan funds.

Summer loans will be processed only after we verify you have enrolled in at least 6 units for summer (4 units of required degree coursework for Master's Degree students; 3 units for Doctoral students). We will send you an email notification confirming your loan eligibility once the loan has been processed. Disbursement will occur approximately 10 days after we process your loan, but not earlier than 10 days prior to the first day of your first summer class.

SAP for the Spring 2018 term will be run after Spring grades have been posted (approximately June 8). If your current (Spring 2018) SAP Status is “Warning” or “Probation,” your loan request will not be processed until after SAP is run and it is determined that you are eligible to receive Federal loans. If you are found to not be meeting SAP standards once SAP is run, you will be ineligible to receive the Direct Student Loan. If a loan has been processed, it will be canceled and you will be required to return any funds that have disbursed.

Please note: you cannot rollover your summer charges to Fall 2018.


Federal Loans (Direct Plus - Parent & Graduate)

The Federal Direct PLUS loan is a non-need based loan, and eligibility is based on the credit history of the borrower. The maximum amount borrowed cannot exceed the student’s cost of education minus any other financial assistance (including scholarships, work-study awards, and the Federal Direct Subsidized or Unsubsidized Loan). Since there is no “annual maximum” for the PLUS Loan (other than cost of attendance):

  • A Parent PLUS Loan may be an option for dependent students who have borrowed their maximum annual Direct Student Loan amount (the parent would be the borrower, though).
  • A Graduate PLUS Loan may be an option for graduate or doctoral students who have borrowed their maximum annual Student Loan amount (the student would be the borrower). 

As with Direct Student Loans, PLUS Loan eligibility cannot be determined until the student is registered for the Summer Session. The PLUS loan request should be submitted as soon as possible after the student registers for summer classes. The loan application will take approximately 7-10 business days to review. We will send you an email notification confirming your loan eligibility once the loan has been processed.

SAP for the Spring 2018 term will be run after Spring grades have been posted (approximately June 8). If the student’s current (Spring 2018) SAP Status is “Warning” or “Probation,” your loan request will not be processed until after SAP is run and it is determined that the student is eligible to receive Federal loans. If the student is found to not be meeting SAP standards once SAP is run, you will be ineligible to receive the PLUS. If a loan has been processed, it will be canceled and you will be required to return any funds that have disbursed.

To Apply for a Summer PLUS Loan:

  1. Parent (or Graduate Student) Borrower must complete the Summer 2018 Federal PLUS Loan Request Form, available on the Enrollment Services Forms website. This form authorizes the U.S. Department of Education to perform a credit review.
  2. First time Direct PLUS borrowers are required to complete a PLUS promissory note. Prior borrowers who completed a PLUS promissory note for the 2017 – 2018 academic year are not required to complete a new PLUS promissory, unless an endorser was required to secure that loan.

Graduate PLUS Borrowers Only

  1. In addition to the above, Graduate PLUS borrowers must also complete the Graduate PLUS Entrance Counseling. The counseling only needs to be completed once at CSULB, so if you have previously borrowed a Graduate PLUS loan at CSULB, you do not need to complete the counseling again.

The Federal PLUS loan cannot be disbursed until the promissory note has been completed, and the loan credit approved.

Types of Summer Financial Aid - Private Loans

CSULB students who have exhausted all other financial aid options may wish to pursue a private education loan to cover costs associated with the Summer semester. These loans typically require a co-signer. Federal Regulations prohibit CSULB from recommending or advising students on specific private loan options; however, general information to keep in mind when considering and/or applying for a private loan is available.

Summer Loan Period:
May 21 – August 17, 2018

CSU Long Beach will process a private loan from any lender that has approved a loan for the student. Federal Regulations prohibit us from recommending any specific lender; students are therefore encouraged to research lenders online by searching either “Private Education loans,” or “Alternative Educational Loans.” It is important that you only apply for one private loan at a time.

Please keep the following information in mind when deciding whether or not to apply for a private loan:

  • All students should exhaust their federal student aid options before pursuing a private student loan.
  • Students should only consider a private education loan if they have reached their federal student loan borrowing limit or are not eligible for federal aid.
  • Undergraduate Dependent students and parents should compare private loan costs with costs for the Federal PLUS Loan.
  • Graduate students should compare private loan costs with costs for the Federal Graduate PLUS Loan.
  • Private student loans are usually higher interest loans with interest that accrues while the student is enrolled in school.
  • Most lenders will require a co-borrower for a private loan. The co-borrower must have a good credit history.
  • Private loans will be certified for the amount requested – up to the student’s Summer Cost of Attendance minus any other financial aid the student is receiving for the Summer term.
  • Summer Private loans will be certified for the Summer enrollment period only. Loans for the Standard Academic Year MUST be applied for separately.

Additional information on questions to ask a lender can be found on the Financial Aid website.

Applying for a Summer Private Loan

  1. Research lenders / loans online by searching either “Private Education Loans,” or “Alternative Educational Loans.”
  2. Once you have selected a lender, complete their Private Loan application.
  3. When completing the loan application, be sure to use only the Summer Loan Period. Loan periods extending beyond these dates cannot be included in the Summer Loan. If you wish to borrow a private loan for the Fall or Spring, please apply for that loan separately.
  4. Enroll in your Summer courses. You will need to pay your Summer Fees within 30 days of registration – or by the Summer Fee Payment deadline.
    1. Your Private Loan will not disburse prior to your fee payment due date.
    2. Your credit-approved private loan will postpone payment of your Summer fees once CSULB certifies the loan.
  5. Print, complete and sign the Summer Private Loan Request form.
    1. This form will be available beginning March 15, 2018.

Summer Private loans will be processed only after we verify you have enrolled in Summer coursework. If you submit a Summer Private Loan request, we will provide an estimate of your Loan eligibility based on your planned enrollment which includes your exact courses, costs and dates of your summer enrollment. Applications received will be processed on a rolling basis in order of date received. Please allow a minimum of two weeks for processing.

How Will I Be Notified of My Awarded Summer Aid?

Summer Federal Loans (Direct Student or Direct PLUS): 
If you submit a Summer Loan Request to the Office of Financial Aid, you will receive an email notification once your request has been processed. Please note that submission of a loan request does not guarantee you will receive a loan – you must meet the loan eligibility criteria in order receive one. Refer to the Federal Loan section above for additional details.

Summer Private Loans: 
If you submit a Summer Loan Request to the Office of Financial Aid, you will receive an email notification once your request has been processed.  Please note that submission of a loan request does not guarantee you will receive a loan – you must meet the lender's loan eligibility criteria in order receive one.  Refer to the Private Loan section above for additional details.

Am I Responsible for Paying My Summer Registration Fees Prior to My Financial Aid Disbursing?

When you register for summer classes, you will be advised of your account balance, and the date by which you must pay your balance. There are no fee deferments for the Summer semester; financial aid funds will not disburse until after Summer fees are due – therefore you will need to make arrangements to pay your tuition and fees with your own funds.

Federal and Private Loans:
Students who submit a request for a Summer Loan are responsible for paying their summer registration fees by the stated deadline, as loans will not disburse until after the deadline dates.

All offers of summer financial aid are contingent on students successfully completing courses for the Spring semester. We will review grades in mid-June and if you do not meet the requirements of our Satisfactory Academic Progress Policy, your summer financial aid will be cancelled. If any summer financial aid funds have been disbursed prior to the SAP review, the awards will be cancelled and you will be responsible for any resulting charges.

If your current (Spring semester) SAP Status is “Warning” or “Probation,” your loan request will not be processed until after your Spring semester grades have posted and SAP has run (mid-June). This is to ensure that you are eligible to receive Federal Loans for the Summer semester.

How and When Will My Summer Aid Be Disbursed?

Financial aid funds will be disbursed to CSULB and credited towards your university account. The funds will first be credited toward any outstanding balance; any remaining funds will then be issued as a refund through eRefund. In most cases, summer aid will be paid at the beginning of your first summer course.

Direct Student & Direct PLUS Loans:
The first disbursement for Summer 2018 loans will be May 21, 2018, and then on a daily basis thereafter. Loans will be disbursed based on your summer enrollment; see below:         

  • May Intersession: 5/21/2018
  • Full Summer Session: 5/21/2018
  • Summer Session I: 5/21/2018
  • Summer Session III: 7/9/2018

Private Loans
Private loans follow the same disbursement guidelines as above; however, the date of disbursement is dependent upon when funds are actually received at CSULB from the lender. All offers of summer financial aid are contingent on students successfully completing courses for the Spring semester. We will review grades in mid-June and if you do not meet the requirements of our Satisfactory Academic Progress Policy, your summer financial aid will be cancelled. If any summer financial aid funds have been disbursed prior to the SAP review, the awards will be cancelled and you will be responsible for any resulting charges. If your current (Spring semester) SAP Status is “Warning” or “Probation,” your loan request will not be processed until after your Spring semester grades have posted and SAP has run (mid-June). This is to ensure that you are eligible to receive Federal Loans for the Summer semester.

What Happens If I Withdraw from a Summer Course?

Before you drop a summer class, read the refund and withdrawal policies in the Summer Class Schedule.

Partial Withdrawal
If you receive financial aid for Summer and you drop one or more classes but not all classes before the end of the session, you may be required to repay part or all of the funds you received. If the withdrawal results in enrollment in less than 6 units for Summer, your financial aid awards will be cancelled and you will be billed for the resulting charges.

Full Withdrawal
If you receive financial aid for Summer and you withdraw from all courses before the end of the term, you will most likely be required to return a portion of your aid. A calculation will be performed based on when you last attended and/or withdrew from your courses.

Please be aware that partial or full withdrawals from summer term, where a grade of W is assigned, may impact your Satisfactory Academic Progress standing.

What is Satisfactory Academic Progress?

All offers of summer financial aid are contingent on students successfully completing courses for the Spring semester. We will review grades at the end of the semester and if you do not meet the requirements of our Satisfactory Academic Progress Policy, your summer financial aid will be cancelled. If any summer financial aid funds have been disbursed prior to the SAP review, you may be billed.

Summer 2018 Financial Aid Important Dates 

Summer Financial Aid Timeline
Date Event
3/05/2018  Summer Registration Begins  
3/15/2018 Summer Loan Application Available
5/21/2018  First Day of Classes for May Intersession (May 21 - June 8) 
5/21/2018  Loan disbursement for May Intersession, Summer Session I, or Full Summer Session 
5/29/2018 First Day of Classes for Summer Session I and Full Summer Session
6/01/2018 Priority Application deadline for Summer Loans (Direct and PLUS)
6/08/2018 SAP Review for Spring semester completed and notifications sent
7/09/2018 First Day of Classes for Summer Session III
7/09/2018 Loan disbursement for students enrolled in Summer Session III
8/17/2018 Last Day of Summer classes. All summer aid must be disbursed by this date