Types of Aid

How Enrollment Level Affects Aid

Financial Aid Type Full Time Enrollment
(12+ hours)
Three Quarter Time Enrollment
(9-11 hours)
Half Time Enrollment
(6-8 hours)
Less than Half Time
Enrollment
(less than 6 hours)
Federal Work-Study Program Student eligible to work and earn 100% of the semester's award. Student maintains eligibility if employed prior to dropping below half time.
Federal Direct Parent Loan (PLUS) Parent is eligible to apply up to the Cost of Attendance minus total aid student is receiving. The amount disbursed is less any applicable loan origination fees. Award will be cancelled if not yet disbursed; future semester awards may be cancelled.
Federal Pell Grant Student receives 100% of the semester's award if full time at the 12th class day (census day). Student receives 75% of the semester's award if three-quarter time at the 12th class day (census day). Student receives 50% of the semester's award if half time at the 12th class day (census day). Student receives 25% of the semester's award if less than half time at the 12th class day (census day).
Federal Perkins Loan Student receives 100% of award. No origination fees apply. Award will be cancelled if not yet disbursed; future semester awards may be cancelled.
Federal Direct Subsidized Loan Student receives 100% of the semester's award less any applicable loan origination fees. Award will be cancelled if not yet disbursed; future semester awards may be cancelled
Federal Direct Unsubsidized Loan Student receives 100% of the semester's award less any applicable loan origination fees. If less than half-time award will be cancelled if not yet disbursed; future semester awards may be cancelled.
Federal Supplemental Educational Opportunity Grant (SEOG) Student receives 100% of the semester's award if full time at the 12th class day (census day). Student must be full time to receive the award in fall and spring semesters.
SMU Merit Aid Student receives 100% of the semester's award if full time at the 12th class day (census day). Student receives 75% of the semester's award if three-quarter time at the 12th class day (census day) of student's graduating term (in graduating term only). Student receives 50% of the semester's award if half time at the 12th class day (census day) of student's graduating term (in graduating term only). Semester award will be cancelled if less than half-time.
SMU Need Based Aid (i.e. SMU Opportunity Award, SMU Need-Based Grant) Student receives 100% of the semester's award if full time at the 12th class day (census day) Student receives 75% of the semester's award if three-quarter time at the 12th class day (census day) of student's graduating term (in graduating term only). Student receives 50% of the semester's award if half time at the 12th class day (census day) of student's graduating term (in graduating term only). Semester award will be cancelled if less than half-time.

(1) Student's financial aid awards will vary based on eligibility.

(2) If the student changes enrollment prior to the census day of term, the award will be adjusted or cancelled as appropriate. If the student changes enrollment after the census day of term, the award will not be adjusted, unless the student withdraws from the University.

(3) SMU merit and need-based aid may be received for up to 5 semesters for transfer students and up to 8 semesters for first year students.  Student must maintain required GPA for merit aid renewal.  Need-based aid varies from year to year based on eligibility.

NOTE: Student will be liable for any outstanding balances due to withdrawal from the University.