Your loan application is valid for one academic year or until the current academic year concludes. An academic year is typically defined by your school as the formal 12-month period during which classes are held and financial aid eligibility is calculated. In most U.S. colleges and universities, the academic year:
- Usually starts in late summer or early fall (August or September) and ends in spring or early summer (May or June).
- It consists of two main semesters/terms (fall and spring), though some schools include a third shorter summer term.
- It can vary by institution; for example, schools on a quarter system have three main terms instead of two.
With this in mind, we recommend using the following dates:
- Start date: The first day you plan to attend classes within the current or upcoming academic year.
- End date: The last day you plan to attend classes within the current or upcoming academic year.
If you do not need a loan for the entire academic year, list the start and end dates for the term or semester you are requesting funding for.