Schedule of Reduction Examples

Even Split (Dependent Undergraduate)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
12	12	24/24 = 100%	$5,500	$5,500
9	9	18/24 = 75%	$5,500	$4,125
6	6	12/24 = 50%	$5,500	$2,750
3	3	6/24 = 25%	$5,500	$0

*$5,500 is the First Year in College Annual Loan Eligibility Maximum. You must be enrolled at least half-time (50% of FT enrollment) to receive a federal loan.

Uneven Split (Dependent Undergraduate)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
15	9	24/24 = 100%	$5,500	$5,500
18	6	24/24 = 100%	$5,500	$5,500
3	12	15/24 = 63%	$5,500	$3,465*
12	3	15/24 = 63%	$5,500	$2,750**

*Student would receive $0 for Fall and $3,465 in Spring. They can borrow up to the full final annual loan amount because Spring is the last term of the Scheduled Academic Year.

**Student would receive $2,750 in Fall and $0 in Spring. They can only receive 50% of the eligible loan amount in Fall.

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***If the student is enrolled in 15 or more credit hours at the time of the spring disbursement, the student will be enrolled full time for the academic year and the school may increase the spring loan amounts to bring the student back up to their full annual loan limit based on full-time enrollment ($3,500 Direct Subsidized and $2,000 Direct Unsubsidized) 

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Even Split (Independent Undergraduate)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
12	12	24/24 = 100%	$9,500	$9,500
9	9	18/24 = 75%	$9,500	$7,125
6	6	12/24 = 50%	$9,500	$4,750
3	3	6/24 = 25%	$9,500	$0

*$9,500 is the First Year in College Annual Loan Eligibility Maximum.

Uneven Split (Independent Undergraduate)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
15	9	24/24 = 100%	$9,500	$9,500
18	6	24/24 = 100%	$9,500	$9,500
3	12	15/24 = 63%	$9,500	$5,985*
12	3	15/24 = 63%	$9,500	$4,750**

*Student would receive $0 for Fall and $5,985 in Spring. They can borrow up to the full final annual loan amount because Spring is the last term of the Scheduled Academic Year.

**Student would receive $4,750 in Fall and $0 in Spring. They can only receive 50% of the eligible loan amount in Fall.

Even Split (Graduate)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
12	12	24/18 = 100%	$20,500	$20,500
9	9	18/18= 100%	$20,500	$20,500
6	6	12/18 = 67%	$20,500	$13,735
3	3	6/18 = 33%	$20,500	$0

*$20,500 is the Annual Loan Eligibility Maximum for each year of a student’s graduate program.

For the purpose of federal financial aid, 9 credits per semester (18 credits per academic year) is considered full-time enrollment for graduate and professional students.

Uneven Split (Graduate)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
15	9	24/18 = 100%	$20,500	$20,500
12	6	18/18= 100%	$20,500	$20,500
3	12	15/18 = 83%	$20,500	$17,015*
9	3	12/18 = 67%	$20,500	$10,250**

*Student would receive $0 for Fall and $17,015 in Spring. They can borrow up to the full final annual loan amount because Spring is the last term of the Scheduled Academic Year.

**Student would receive $10,250 in Fall and $0 in Spring. They can only receive 50% of the eligible loan amount in Fall.

Even Split (Professional)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
12	12	24/18 = 100%	$50,000	$50,000
9	9	18/18= 100%	$50,000	$50,000
6	6	12/18 = 67%	$50,000	$33,500
3	3	6/18 = 33%	$50,000	$0

*$50,000 is the Annual Loan Eligibility Maximum for each year of a student’s professional program. 

For the purpose of federal financial aid, 9 credits per semester (18 credits per academic year) is considered full-time enrollment for graduate and professional students.

Uneven Split (Professional)

Registered Fall Hours	Registered Fall Hours	Percentage of FT Enrollment	Annual Loan Eligibility	Final Annual Loan Amount
15	9	24/18 = 100%	$50,000	$50,000
12	6	18/18= 100%	$50,000	$50,000
3	12	15/18 = 83%	$50,000	$41,500*
9	3	12/18 = 67%	$50,000	$25,000**

*Student would receive $0 for Fall and $41,500 in Spring. They can borrow up to the full final annual loan amount because Spring is the last term of the Scheduled Academic Year.

**Student would receive $25,000 in Fall and $0 in Spring. They can only receive 50% of the eligible loan amount in Fall.