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Summer Financial Aid May Be Available for YOU!

            Allegany College of Maryland offers three sources of federal financial aid for the summer semester:  Pell Grant, Subsidized and/or Unsubsidized Direct Student Loans, and the Work-Study Program.  Generally, students must complete the FAFSA, complete the verification process if selected to be verified by the federal government, and have a final high school transcript on file in our Admissions Office before any summer aid will be awarded.  For specific requirements of each program, please read below.  Please contact the Student Financial Aid Office for any other questions regarding summer financial aid.


Federal Pell Grant Program:

            Pell Grants for the summer 2014 term are typically paid as a trailer award, meaning remaining eligibility from the 2013-2014 year award.  Students who were full time (12 credits or more) in the fall 2013 and spring 2014 semesters usually do not have any Pell Grant monies left to cover summer school.  However, under special circumstances, such as a summer or fall graduation date, the Student Financial Aid Office may approve students to use Pell Grant from the upcoming award year (2014-2015), called a header award, to cover the summer 2014 term.  Students must contact the office for an appointment to determine if Pell Grant funds can be used from the 2014-2015 award year.   Students must be registered for at least one credit hour and be otherwise eligible in order to be awarded a summer Pell Grant.


Federal Subsidized and/or Unsubsidized Direct Student Loans:

            Direct Student Loans for the summer semester are awarded and paid as a header to the upcoming academic year.  Students will receive an Award Notification and Federal Direct Loan Acceptance Form after their financial aid file has been awarded and verified.  The Federal Direct Loan Acceptance Form must be returned to the Student Financial Aid Office with the option selected to include summer in the loan period before the loan will be originated and disbursed.   In addition to the Loan Acceptance Form, student enrollment in at least 6 credit hours is also required before origination.  Borrowers should be aware that approved loan amounts will be equally split between all semesters of attendance.  First-time ACM borrowers will also need to complete Entrance Counseling and Master Promissory Note online at www.studentloans.gov.

 

Federal Work Study:

            Students wishing to work over the summer must complete the Summer Work-Study Application available at:  http://www.allegany.edu/finaidforms.  Work-study positions pay $8.50 per hour and students generally work 20 to 25 hours per week.  Positions in the America Reads program receive a higher hourly wage.  Students do not need to be registered for summer classes in order to take advantage of a work-study position, but must have a complete and verified financial aid file before April 18th, 2014.   Once a summer work-study award is made, students must access their WebAdvisor account to accept the award.   Any awards not accepted within 14 days will be cancelled.