What happens to spring financial aid when you graduate in the fall?
Since I have yet to get a response from my university, I'll ask the internet. I just found out that I will be graduating in December, not May '20. However, I have loans, grants, and scholarships split between the Fall and Spring semesters. What happens to the Spring aid when I graduate in a few months. I understand that loans may be sent back, but what about scholarships? Could those be applied to the current semester?
- diLv 46 months agoFavorite Answer
The scholarship, grant & loan funds you will not use will simply NOT be requested by the school. The school will update your records with the funding source(s) to reflect your graduation and that any funding allocated for the spring will not be used. The funding source is then free to allocate those funds to someone else.
Meanwhile, be sure to contact your loan servicer - repayment starts 6 months after graduation!!
- nancyLv 76 months ago
Federal student aid (Pell grant, Direct loans, etc) has to be split evenly between all of the terms in the school's academic year. If you are attending a school whose academic year is two semesters, then you can only receive half of the award for each semester. If you are not enrolled for spring, that half of the award is cancelled. This is because the amount of the award is based on the assumption that you will be enrolled full time for the entire year. If you don't do that, then you only get the funds for the part of the year in which you are actually enrolled. So, no, you can't use your spring aid in the fall. Most private and school scholarships are set up the same way--they're intended to pay for expenses for a full year, so if you only attend half the year, then you only get funds for half a year and the remainder is returned to the donor. However, each scholarship is different, and there may be a few donors who would allow a spring disbursement to be used in the fall.
- ibu guruLv 76 months ago
You were allotted a certain amount of financial aid for fall semester, and a certain amount for spring semester. Since you are graduating, and will not attend spring semester, there will be no financial aid for spring. You would not get anything until you registered for full-time spring classes anyway. Nothing can be "shifted" to fall term.