Office of Student Aid : Applying for Student Aid 2007-08 : Summer 2008 Aid : Next Steps to Summer Aid for First-Year Students
Next Steps to Summer Aid for First-Year Students
It is important to complete the following steps in order for error-free processing of your summer 2008 student financial aid.
Steps 1 - 2 Steps 3 - 4 Steps 5 - 6 Steps 7 - 8 Steps 9 - 10
Step 5:
Apply for a Summer Pennsylvania State Grant (Pennsylvania residents only), if interested.
Review the Pennsylvania State Grant information.
To apply for a summer Pennsylvania State Grant, contact the Office of Student Aid.
Note: Due to a timing issue you may receive a letter from PHEAA stating that you are ineligible for a state grant. If so, please disregard the letter and contact our office if you are interested in summer Pennsylvania State Grant consideration.
If you are eligible, keep in mind that summer Pennsylvania State Grants are typically not disbursed into student Bursar accounts until the end of July. If you are depending on this grant for out-of-pocket expenses, you should be prepared to pay for those expenses on your own until the grant is credited to your student account.
Step 6:
Apply for summer Federal Direct Stafford Loans, if interested.
After Penn State has received your 2007-08 FAFSA and acceptance fees for summer 2008 admission, the Office of Student Aid will determine your eligibility for a summer Federal Direct Stafford Loan and will notify you if you are eligible.
First-year undergraduate students can borrow up to $1750 for their first summer of enrollment. The summer loan will not affect loan eligibility for fall 2008 or spring 2009 semesters.
Review information for first-time Direct Stafford Loan borrowers, if you are eligible.
All first-time borrowers will have to sign the Federal Direct Stafford Loan Master Promissory Note (MPN) and complete Loan Entrance Counseling by accessing Loan Entrance Counseling from the Students menu on eLion at elion.psu.edu, if they have not already done so.