Important update regarding federal student loans:
ENROLLMENT STATUS
If enrollment is less than full-time, your loan eligibility (annual amount) will be prorated (reduced).
Examples:
UNDERGRADUATE STUDENT
A dependent undergraduate student enrolls in 6 credit hours in the Fall semester and 6 credit hours in the Spring semester, for a total of 12 credit hours for the academic year.
Annual loan eligibility is prorated based on enrollment intensity. In this case:
12 (credit hours) ÷ 24 = 0.5000
0.5000 x $7,500 (senior level loan limit) = $3,750.
In this example, the student would be eligible to receive $3,750 in federal student loans for the academic year. Under prior regulations, the student could have received the full $7,500 annual loan limit, even when enrolled at this level.