Study Away Financial Aid

Study Away Financial Aid

Financial aid may be available on a limited basis for a summer “Study Away” trip. Students should schedule an appointment with a financial aid counselor by calling 616.451.2787 or emailing kcadfinaid@ferris.edu as soon as possible to discuss their personal options. Please allow one half hour for this meeting.

  • Trip Costs:
  • Financial aid refunds from the fall and spring semesters may be used to help pay for trip costs. Students/parents may borrow financial aid loans up to the Cost of Attendance for the fall/spring semesters. Most of these loans are subject to a credit check evaluation by the lending institution. Please allow 2-6 weeks processing time.

    Cost of Attendance: - Current Financial Aid = Unmet Cost of Attendance budget
  • $20,000 - $12,000 = $ 8,000

    Example: The student/parent would have $8,000 in additional loan eligibility to borrow.

    Any outstanding tuition due for the fall/spring semesters will be deducted first from the loans. Any leftover money will be refunded to the student/parent to help pay for trip costs.

  • Tuition Costs:
  • To be considered for Summer financial aid, students must register at least half time for Summer classes and have a valid FAFSA on file. You may combine credits for the Summer 1 and Summer 2 mini-semesters. For example, 3 credits in Summer 1 + 3 credits in Summer 2 = half time enrollment, which 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.

    The Financial Aid Office 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, after April 1 please allow 2-3 weeks from the date you enroll in at least six credit hours for an award notification.

    Pell Grant recipients who attend school full time in the Fall and Spring semesters will not have any Pell Grant eligibility for Summer. Pell Grant recipients who do not attend full time in the Fall or Spring semester may have limited Pell Grant eligibility left over for the summer.

    Students who use their full Federal student loan eligibility in the Fall and Spring semesters will not have any Federal student loan eligibility for summer. Exceptions would be for those students who change grade levels from freshman to sophomore, or sophomore to junior status.

    Ferris State University has some Study Away scholarships available on a limited basis. Please visit their website at www.ferris.edu, click on Scholarships and click on Study Abroad.

    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.

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