If you plan to attend classes during a Summer semester, it is recommended that you plan your finances well in advance. Funding for Summer is extremely limited and many students must rely on alternative loan options to attend Summer classes.
Because the majority of Ferris students do not attend classes in the Summer semester, when we award federal financial aid funds, we divide the funds evenly between Fall and Spring semesters. For example, a dependent undergraduate student is eligible for $5500 in Direct Subsidized/Unsubsidized Loans each year. If the student is enrolled in the Fall and Spring, we offer the student $2750 for each semester. The student that accepts the full amount of the Direct Loans offered for Fall and Spring will not have any additional federal loan eligibility for the Summer semester.
To be considered for Summer financial aid, students must register at least half time for Summer classes. The Office of Scholarships and Financial Aid will review each student’s eligibility for aid and email each student either notification of an award or a message explaining that they are not eligible for aid. Summer awarding typically begins the first week of April. Because Summer awarding is a manual process, if you register for Summer classes after the first week of April, please allow at least two weeks for an award notice.
**Half-time status in the Summer is the same as for any other semester. For undergraduate students, half-time is six credit hours. For graduate level students, half-time is five credit hours.
To determine if you have any aid eligibility remaining for Summer semester, please click here to view our Summer Eligibility How To page.