Video Transcript – Qualifying for Financial Aid: Semesters vs. Sessions
Learn about qualifying for financial aid based on credits, semesters and sessions with Ally Daniels, Director and Advisor, Online MBA and Natalie Newell, Financial Aid Counselor.
Qualifying for financial aid: semesters vs. sessions
[Ally Daniels, Director and Advisor, Online MBA] It’s important to know that the online MBA program runs on seven-week sessions. The university, however, runs on semesters. There are two online MBA sessions each semester [Fall, Spring and Summer]. So you may hear us use words like Fall One, Fall Two. These indicate sessions. You should always enroll for both sessions in each semester.
Stay eligible for financial aid by following these guidelines…
[Natalie Newell, Financial Aid Counselor] As a graduate student, you need to be enrolled in at least five credits per semester to be eligible for student loans. Online MBA is a little unique. We issue aid by semester versus you are in sessions. So, because of that, you need to definitely think ahead and plan ahead, as far as how to get financial aid for that full semester. So we either recommend one class per session [4 credits per session], or two classes for the first session or the second session [8 credits in a session].
[Ally] I want to walk you through a few common financial aid examples so you know what to expect. First, in example one, you’ll see that this is a student who is eligible for financial aid. They’ve enrolled in one course for each session, so they’re enrolled in a total of eight credits, which is above the minimum required for aid for the semester.
In example two, the student is taking the fall second session off, but they enrolled in two classes for the first session, so they are still eligible for aid because they’re enrolled in at least five graduate credits.
In example number three, the student is ineligible for financial aid, since they enrolled in only one course for a total of four credits for the entire semester. They are below the minimum of five credits required for financial aid and ineligible for loans.