In order to ensure that the resources available for SPIF are distributed equitably among all SPIF recipients, a funding cap is used. The funding cap for all students is $9,500. It is $9,500 because this is the maximum amount a student can earn during the summer to have a summer resource calculation from income of $0. It is important to remember that the SPIF program is need-based, even though students not receiving academic year financial aid are eligible.
The funding cap applies to all of your SPIF eligible position(s) regardless of whether or not you are receiving SPIF for that position. The entire amount provided for the summer by any SPIF eligible employer(s), including wages, stipend, housing, transportation, etc., or supplemental funding source will be applied against the SPIF cap before the amount of SPIF funds to be disbursed is determined.* Earnings from a non-SPIF eligible job will have no effect on your SPIF amount, and we will not reduce your SPIF eligibility, but may be taken into account for financial aid eligibility. This may be a good way to reduce your borrowing for the next academic year or to help cover your summer living expenses.
* If you are splitting your summer between two SPIF eligible positions, the funding cap applies to both of those positions and we will take a paying position into account before a non-paying position. For example, if you are spending 4 weeks at a non-paying SPIF eligible position and 4 weeks at a SPIF eligible position for which you received $1,000/week in wages, you will be eligible for a $5,500 SPIF disbursement in addition to your $4,000 in employer-paid wages.