Dear Students,<\/p>\n
The Student Financial Aid Office is preparing its system for the processing of Summer aid!! We will review eligibility\u00a0based on enrollment of at least half time<\/strong>\u00a0\u2013 three (3) LAW credit hours. This means that\u00a0our processing will be triggered by your Summer registration.<\/strong><\/p>\n <\/p>\n Summer aid eligibility is dependent on what you received in the (prior) Fall and Spring semesters, whether at The University of Memphis or at another institution. You may have already borrowed the yearly maximum unsubsidized loan of $20,500. Check your\u00a0myMemphis<\/a>\u00a0account for this information.<\/p>\n <\/p>\n If you did not borrow the maximum $20,500 unsubsidized loan between Fall 2020 and Spring 2021,\u00a0we will OFFER your remaining eligibility.<\/strong>\u00a0This means you will need to log in to your\u00a0myMemphis<\/strong>\u00a0account to accept what\u2019s been offered, at which time you can also decide if you need to supplement it with the federal Direct Graduate PLUS<\/strong> Loan<\/strong>.<\/p>\n <\/p>\n If you have already taken out the maximum unsubsidized loan, you can apply for the federal Direct Graduate PLUS loan, which is based on credit. \u00a0AFTER<\/u><\/strong>\u00a0you register in at least three (3) LAW credit hours, go to\u00a0https:\/\/studentaid.gov<\/a> to apply.\u00a0\u00a0 Make sure to select the\u00a020<\/strong>20-2021 <\/strong>Award\/Aid Year<\/strong>\u00a0and list your loan period from May 2021 through July 2021.\u00a0 Your application will be sent to us electronically. Please\u00a0allow our office\u00a07 to 10 business days<\/u>\u00a0to process<\/strong>. Your\u00a0myMemphis\u00a0<\/strong>account will be updated accordingly, so check under Financial Aid Awards<\/strong> for the 2020-2021 year.\u00a0 Once your loan is fully processed, TigerXpress will reflect it being applied to your Summer balance.<\/p>\n \u00a0<\/strong><\/p>\n Students who will be enrolled in fewer than three (3) LAW credit hours may inquire about the Installment Payment Plan (IPP)<\/strong> with our USBS Office<\/a>.\u00a0 The IPP is typically available only in the Fall and Spring semesters. \u00a0Last year was the first Summer that our USBS Office offered the IPP.\u00a0 To determine if the IPP will be made available again this Summer, please contact their office directly at (901) 678-2712.\u00a0 Otherwise, another option would be to apply for an alternative loan through the private lender of your choice.\u00a0 Examples include, but are not limited to, Regions Bank, Discover Student Loans, Sallie Mae, SoFi, Bank of America, etc.<\/p>\n <\/p>\n