Summer Financial Aid

Financial Aid is available to assist in offsetting the cost of taking classes during the summer months. Students can receive funds from their academic scholarship, HOPE Scholarship, or federal loans. In order to receive any aid, students must be enrolled in at least 6 hours, although there are no requirements on which month(s) these classes take place in (May, June, or July). To apply for aid for the summer, the student must have filed a FAFSA for the current school year (i.e. 2013-2014 FAFSA for summer 2014) and submit an online summer aid application via myLipscomb. Once we have the application and confirm enrollment for at least 6 hours, our office will apply aid to the student's account for summer.

Scholarships

Both Lipscomb Academic Scholarships and the HOPE Scholarship are prorated based on the number of hours the student is enrolled in:

Hours Enrolled In Percentage of Scholarship (semester value)
1-5 Hours 0%
6-8 Hours 50%
9-11 Hours 75%
12+ Hours 100%

*Receiving scholarship money during the summer does not deduct from the amount received during the normal academic year. However, the hours taken during the summer will contribute to the attempted hours total, and Lipscomb scholarships are only guaranteed to 126 attempted hours.

**For discounted travel courses during the summer, no institutional aid is available. These hours may not be counted toward the 6-hour minimum requirement for Lipscomb academic scholarships.

Loans

Students can receive federal subsidized Stafford Loans during the summer based on their student status:

Student Status Sub. Loan Amount
Freshman $1750
Sophomore $2250
Junior $2750
Senior $2750

Dependent students will also receive an additional $1000 in unsubsidized Stafford Loans, and independent students will receive an additional $3000 (freshman/sophomore) or $3500 (junior/senior) in unsubsidized Stafford Loans.

Students can also apply for Direct PLUS Loans (Parent PLUS or Grad PLUS) for the summer by logging on to studentloans.gov. Our office will apply these loans once we receive confirmation from the site that the student is approved for the loan. If a dependent student's parent has received a Parent PLUS denial, the student can fill out an Undergraduate Loan Form (found on myLipscomb) to have their unsubsidized Stafford Loan increased by $2000 for the summer.

Keep in mind all loans will have the government origination fee deducted before applying to the student's bill.

To apply for summer aid

All students will need to fill out the Summer Aid Application before we can apply aid to their account for the summer.

  • Log on to myLipscomb and click Resources in the Launchpad
  • Select Financial Aid
  • Click Summer Aid Application found in the forms subsection of the Financial Aid Menu, the click your appropriate study level (Undergraduate or Graduate)

It will take us approximately one week to process your application and offer your aid for the summer. Remember that if you are requesting loans for the summer, you must log back into MyLipscomb and accept the loans under My Awards before they will show up on your student bill.

If you have any questions, feel free to contact us by email at financialaid@lipscomb.edu, or call our office at 615.966.1791.