student	who	progressed	a	grade	level	each	academic	year,	the	student	would	be	eligible	for	up	to	the	applicable
annual	loan	limit	during	each	BBAY	1.
Volume	8,	Chapter	6,	Example	3:	BBAY	1	Where	the	SAY	Contains	Two	Semesters	(Student	Is	Not	Enrolled	in	the
Second	Term	of	the	BBAY)
Year	1:	SAY	or	BBAY	1 Year	2:	BBAY	1 Year	3:	BBAY	1
Fall	+	Spring Summer	+	Fall	(not	enrolled	in	Fall) Sp ring	+	Summer
A	student	doesn9t	have	to	attend	all	of	the	terms	in	a	BBAY	1,	but	the	BBAY	1	cannot	begin	with	a	term	that	the
student	doesn9t	attend.	In	Example	3,	the	student	is	not	enrolled	in	the	second	term	(fall)	of	year	2.
Volume	8,	Chapter	6,	Example	4:	BBAY	1	Where	the	SAY	Contains	Two	Semesters	(Student	Is	Not	Enrolled	in	a	Term
That	Would	Otherwise	Be	the	First	Term	in	the	BBAY)
Year	1:	SAY	or	BBAY	1 Year	2:	BBAY	1 Year	3:	BBAY	1
Fall	+	Spring Summer	+	Fall Spring	(not	enrolled) Summ er	+	Fall
In	Example	4,	if	the	student	does	not	attend	a	term	that	otherwise	would	have	been	the	beginning	of	a	BBAY	1	(in
this	case,	spring),	then	the	student9s	next	BBAY	1	cannot	begin	until	the	next	term	that	the	student	attends	(in
this	case,	summer).	As	with	Examples	2	and	3,	the	annual	loan	limit	applies	to	each	BBAY	1.
Volume	8,	Chapter	6,	Example	5:	BBAY	1	Where	the	SAY	Contains	Three	Quarters
Year	1:	SAY	or	BBAY	1 Year	2:	BBAY	1
Fall	+	Winter	+	Spring Summer	+	Fall	+	Winter
The	same	concepts	apply	to	quarter-term	programs.	For	instance,	in	Example	5,	the	fall,	winter,	and	spring	terms
constitute	the	school9s	SAY.	If	the	student	attends	the	summer	session	at	the	school,	it	can	be	the	first	term	of	a
BBAY	1	that	also	includes	the	following	fall	and	winter	terms.
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