Understanding Your New Financial Aid Year: The Shift to BBAY with 8-Week Terms
Starting Fall 2026, ODUGlobal will adopt a Borrower-Based Academic Year (BBAY) model for loan eligibility and disbursement for online undergraduate and master's students. Pell Grant eligibility and disbursement will remain the same. The change to BBAY ensures:
- Fair, predictable awarding of federal loans and grants irrespective of when within the year you begin a term
- That your loan eligibility “year” follows your personal enrollment pattern
What is a Borrower-Based Academic Year (BBAY)?
Instead of using a fixed academic year (e.g. Fall + Spring) for all students, BBAY allows your individual loan period to begin when you start your enrollment and advances forward from there.
Key points:
- Your loan “year” is anchored on your first enrolled term, not on a fixed school calendar
- BBAY year ends when you have successfully completed 24 semester credits AND 32 weeks of instruction (undergraduates) or 18 semester credits AND 32 weeks of instruction (graduate students).
- Once your BBAY year ends, a new loan year begins when you next enroll in an eligible term.
- Aid awards (loans, grants) will be aligned to your BBAY year rather than applying strictly to “fall/spring” cycles.
Because we use 8-week terms, a standard fixed calendar (SAY) would not always align well with your courses. A BBAY model offers more flexibility.
How BBAY Works at ODUGlobal (under 8-week terms)
Here’s a simplified description of how we will manage your aid:
| Step | What Happens | Why It Matters |
|---|---|---|
| 1. Your first eligible term | Your BBAY clock starts with your first 8-week term in which you enroll at least half-time (or meet eligibility rules) | That term anchors your loan year |
| 2. Tracking the BBAY year | We track the number of weeks and credits you complete toward the BBAY “year” | This ensures you meet progress and eligibility benchmarks |
| 3. Splitting loans or disbursements | In some cases, we may split your loan into two disbursements (if your BBAY spans multiple terms) | This aligns with federal rules for loan disbursement timing |
| 4. Beginning a new loan year | Once your BBAY term ends, if you enroll again in an eligible term, a new BBAY year begins | You regain eligibility under the new loan period |
What Changes (and What Doesn’t)
What does change:
- The timing of loan eligibility and disbursement may shift to match your individual enrollment
- You may see your aid awards split across multiple periods in our student portal
What doesn’t change:
- Your annual loan limits (e.g. undergraduate / graduate caps) remain the same
- The total amount you receive over the year should not change simply due to BBAY
- Your eligibility still depends on enrollment level, satisfactory academic progress, and other standard requirements
Frequently Asked Questions
If you qualify for Pell, your personalized aid period begins when you first enroll. Loan eligibility begins when you first enroll on at least a half-time basis (i.e., 3 term credits for undergraduate and 2 term credits for master's students).
You qualify for a new loan when you have successfully completed 24 semester credits AND 32 weeks of instruction (equivalent to four 8-week terms).
You qualify for a new loan when you have successfully completed 18 semester credits AND 30 weeks of instruction (equivalent to four 8-week terms).
Regulations for the more flexible funding approach require multiple loans in the same aid year. As a result, you will see your Direct Loan awards split into multiple loans, based on your enrollment.
No, your loan amount is determined by the cost of attendance and length of the BBAY year.
You will see the updated loan academic year and loan period on your disclosure statement from Direct Loan. You will also see the changes in Midas.
A grade of “D-” or higher is considered successful for financial aid purposes, although your curriculum may require a higher grade.
You may retake any previously passed course (grade with a “D-” or higher) a maximum of once per course, regardless of any curriculum requirement calling for a higher grade to be earned.
The unused aid you were awarded between January and May at the prior institution will be available at ODU. You will not be eligible for a new loan at ODU until the academic year at your previous institution has ended. In this case, since the academic year at the previous institution ends May 15, the soonest you will be eligible for a new loan limit through ODU is May 16.
Unfortunately, this is not an easy one to answer since each student’s enrollment and journey varies. Please discuss any concerns you have with your advisor BEFORE making a change.
Use of the BBAY does not prevent you from participating in an approved Consortium Agreement. However, If your community college course ends after your loan period, you will not be eligible for a new loan until after the community college course ends. For example, if you are enrolled in an ODUGlobal 8-week course that ends in March and a 16-week community college course that ends in May, if required, you will not be eligible for a new loan until the community college course ends.
You will not be eligible for financial aid, but your loan eligibility resumes when you return.