Types of Aid Available to Undergraduate Students for Summer

• University Summer Loan: Undergraduate students enrolled in summer may be eligible for the University Summer Loan. Eligibility for the University Summer Loan is based on financial need and availability of the fund. The UVM Summer Loan is interest free while the student is enrolled at least half time and has a fixed 5.0% interest rate in repayment. Repayment begins 9 months after the student falls below half-time enrollment.
• Federal Direct Subsidized or Unsubsidized Loans: Undergraduate students enrolled in at least 6 credits may be eligible for limited Federal Direct Loan eligibility. Federal Direct Loans are available ONLY if the student did NOT borrow all available Federal Direct Loan funds during the prior fall and spring semesters. For example, Student was eligible for $2,750 Federal Direct Unsubsidized loan in the prior fall and $2,750 this spring. However, student borrowed $1,750 each semester instead of the offered $2,750. Thus, student has $2,000 in current academic year Federal Direct Loan eligibility remaining for the summer session, which he may be eligible for if they enroll in at least 6 credits.
• Federal Direct Parent PLUS Loan: Parents of dependent undergraduate students may borrow a Federal Direct Parent PLUS Loan for the student if the student is enrolled in at least 6 credits. The Federal Direct Parent PLUS Loan requires credit approval, and the parent borrower will need to apply for a PLUS Loan. This request should be submitted no earlier than April 1 during this current academic year. If applied for too early, the credit check may expire before the summer session begins, and the parent would then need to reapply. If the parent has not borrowed a PLUS Loan within the last 10 years through the Federal Direct Loan Program, they will also need to complete a Direct PLUS Loan Master Promissory Note (MPN).
• Federal Pell Grant: In limited cases, based on enrollment status and financial need, a student may be eligible for a Federal Pell Grant.
• Private Education Loans: Private educational loans require credit approval (most will require students to apply with a co-signer). Learn more about private education loans.

Note to Students Studying Abroad: Please email Student Financial Services for information regarding aid eligibility.

Types of Aid Available to Graduate Students for Summer

• Federal Direct Unsubsidized Loan: Graduate students enrolled in at least 5 credits may be eligible for limited Federal Direct Unsubsidized Loan eligibility if they borrowed less than $20,500 in Federal Direct Unsubsidized loans in the current academic year.
• Federal Direct Graduate PLUS Loan: Graduate students enrolled in at least 5 credits may be eligible to borrow through the Federal Direct Graduate PLUS Loan program. Federal Direct Graduate PLUS Loans require a credit check for approval and students can generally borrow up to the cost of attendance, less other aid received for the enrollment period.
• Additional Funding (Teaching Assistantships, Stipends, Tuition Scholarship, etc.): Other funding may be offered through your program. SFS should be informed of additional funding that you are receiving through your program.
• Private Education Loans: Private educational loans require credit approval (most will require students to apply with a co-signer). Learn more about private education loans.

Financial aid for Professional and Continuing Education and Certificate (non-degree) students is limited and eligibility varies by program. Determine your eligibility and review other financing options here.

A note to Post-Bac Pre-Med students:

The UVM Summer Loan is available to some Post-Bac Pre-Med students based on financial need. To be considered for the UVM Summer Loan you must have submitted your Non-Degree Course Certification for Federal Aid form with your PACE advisor, meet a certain level of financial need, and have unmet financial need after the offer of any Federal Direct Student Loans for which you may be eligible. The UVM Summer Loan also requires a minimum enrollment of 3 credits. If eligible, the UVM Summer Loan covers up to 3 credits of tuition. This loan is interest free while the student is enrolled at least half-time and has a fixed 5.0% interest rate in repayment. Repayment begins 9 months after the student falls below half-time enrollment.