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First-Year Undergraduate Student Checklist for Summer 2017

      Application Information

      1. The 2016-17 Free Application for Federal Student Aid (FAFSA) must be submitted by June 30, 2017 using your 2015 Federal Income Tax Return.
      2. Your eligibility will be determined for the student aid listed below once Penn State receives your 2016-17 FAFSA and your acceptance fees for summer 2017. You can expect to receive notification of summer aid after you have scheduled your classes.
      3. Review summer cost information.

      Federal Pell Grant

      The Federal Pell Grant is a need-based grant. Eligible students will be automatically awarded the grant based on their FAFSA information and the number of credits. First-year undergraduate students starting in summer generally take six to seven credits, which is considered half-time enrollment.

      Federal Work-Study

      New students will not awarded summer Work-Study.

      Federal Direct Loans

      Subsidized/Unsubsidized loans

      Eligible first-year dependent undergraduate students can borrow up to $5,500 for their first summer of enrollment. Eligible first-year independent students can borrow up to $9,500 (not exceeding their total costs) for their first summer of enrollment.

      Summer 2017 is the last semester of the 2016-17 academic year, so the summer 2017 Federal Direct Loan will not affect your loan eligibility for the Fall 2017 or Spring 2018 semesters.

      You will be awarded once you become enrolled at least half time (6 credits). Borrowers will need to accept the Direct Loan in LionPATH under the Finances section by clicking on "Accept/Decline Awards". Once you choose an aid year, you can update totals, click on the loans that you wish to accept, and hit submit.

      If you are a first-time borrower, in addition to accepting your loans in LionPATH, you will also have to go to StudentLoans.gov, sign in using your FSA ID, and complete the following requirements:

      • Choose "Complete Entrance Counseling" and then select "I am an undergraduate student." Continue until you receive a confirmation that you successfully completed Entrance Counseling. You can choose to view and download your completed Counseling Verification Page from the confirmation page. If you selected Penn State in the School and Loan Information section, our office will be notified electronically that you completed Entrance Counseling, typically within three business days.
      • Choose "Complete Master Promissory Note (MPN)" and then click on "Subsidized/Unsubsidized." Continue until you receive a confirmation that you successfully completed the MPN. Our office will be notified electronically that you completed your MPN, typically within three business days.

      If you experience technical problems completing Entrance Counseling or e-signing your MPN, contact the U.S. Department of Education’s Student Loan Support Center at 800-557-7394.

      Federal Direct Parent PLUS

      If you need additional funding and are enrolled at least half time, your parent(s) may want to consider a Federal Direct Parent PLUS loan.  For further information on the PLUS and how to apply you can visit the Parent PLUS loan page.

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      Additional financing options 

      Private Alternative Loans

      If you are an independent student who is ineligible for federal or state student financial aid or have remaining financial need, you may apply for alternative student loans through private lenders.

      Dependent students typically need a creditworthy co-signer on their loan application. Independent students may or may not need a creditworthy co-signer on their loan application.

      The maximum private alternative loan amount you can request is your total cost of attendance, less all other student financial aid listed on your Award Summary on LionPATH.

      The loan term date for a summer private alternative loan runs from May to August 2017.

      Refunds

      If your financial aid exceeds your total charges, you may receive a refund. Summer refunds will be generated on June 28. We encourage students to sign up for e-refund on LionPATH to expedite the refund process.

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