Summer school will be considered a "trailer" to the preceding academic year. Therefore, all aid eligibility used during the summer must be considered a part of the base award year. The new aid year or award year will start each fall.
This change is being made to ensure that all students get accurate borrowing information for both summer sessions and academic semesters. We have seen a significant growth in the use of Federal Stafford loans during the summer to help finance educational costs. It is extremely difficult to track borrowing for the academic year with variations of loan use in the summer.
In order to borrow for summer school:
Students must be enrolled for a minimum of six (6) credit hours at Payne Theological Seminary in one or both summer terms.
A summer school application in the Office of Financial Aid must be completed and submitted to the Office of Financial Aid. Applications will be available after spring break each year.
In order to use remaining Federal Stafford Loan Eligibility for Summer School:
Students must have filed a FAFSA and have completed verification (if applicable) for the academic year preceding summer school. Students must have unused Federal Stafford loan eligibility from the academic year preceding summer school.