Types of Student Financial Assistance

Scholarships – don’t have to be repaid student must meet certain criteria must meet deadlines available to undergraduate students Grants – don’t have to be repaid student must meet certain criteria usually need based available to undergraduate students Loans – must be repaid with interest student will have consequences for failure to repay available to undergraduate and graduate students Work-Study – the student must work to earn money

Federal*

FEDERAL PELL GRANT – Up to $4,050, non-repayable.   FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT – Up to $3,000 yearly, non-repayable.   FEDERAL COLLEGE WORK STUDY – Averages $1,000 yearly; student receives monthly check for on-campus work.   FEDERAL ACADEMIC COMPETITIVENESS GRANT (ACG) – $750 to freshmen who qualify for the Pell Grant and have taken a rigorous high school curriculum. Renewable with a 3.0 cumulative GPA and Pell qualifying. Second year amount is $1,300.   FEDERAL SMART GRANT – $4,000 annually for third year students who qualify for the Pell Grant, have a 3.0 cumulative GPA and are majoring in the sciences, engineering, mathematics, or a critical language. Renewable at $4,000 for the fourth year with the proper major, a cumulative 3.0 GPA and Pell qualifying.   FEDERAL PERKINS LOAN – Averages $2,000 yearly; student pays back after leaving school.   FEDERAL STAFFORD LOAN – Maximum amounts: $2,625 (freshmen), $3,500 (sophomore), $5,500 (junior and senior). $8,500 per year up to program cost (graduate). Student pays back after leaving school. Based on need.   FEDERAL UNSUBSIDIZED STAFFORD LOAN – Same borrowing limits as the Stafford Loan except students incurs interest while enrolled; student pays back principal after leaving school. Not based on need. Independent students may receive an additional Unsubsidized Stafford Loan of $4,000 per year (freshman and sophomore) and $5,000 per year (junior and senior). $10,000 per year up to program cost (graduate).   FEDERAL PLUS LOAN FOR UNDERGADUATE STUDENTS (PLUS) – Up to cost of attendance minus financial aid yearly; parent pays monthly payments; no deferment.   VOCATIONAL REHABILITATION GRANTS – Offered through the Department of Human Services to students with disability. Check with the local DHS office in your county.   VETERAN’S BENEFITS – Available to veterans who qualify. Please consult the nearest VA office or call (800) 827-1000.

State

TENNESSEE STUDENT ASSISTANCE AWARD – Up to $4,664 yearly, non-repayable.   TENNESSEE TEACHER LOAN SCHOLARSHIP PROGRAM – Administered by the Tennessee Student Assistance Corporation. Call (800)342-1663 for more information and an application.   TENNESSEE HOPE SCHOLARSHIP - $3,800 renewable (see www.CollegePaysTN.com). For Tennessee residents recently graduating from Tennessee high schools and attending Tennessee colleges. Student must have at least a 3.0 high school GPA OR at least a 21 ACT (980 SAT).   TENNESSEE HOPE ACCESS GRANT - $2,000 non-renewable. Same residency requirements but must have an unweighted high school GPA of at least 2.75 AND at least an 18 ACT (860 SAT). Family AGI must be $36,000 or below.   TENNESSEE HOPE NEED-BASED SUPPLEMENTAL AWARD- $1,500 in addition to HOPE SS – renewable provided the student remains HOPE eligible and family AGI remains $36,000 or less.   TENNESSEE HOPE GENERAL ASSEMBLY MERIT SCHOLARSHIP – student must have at least a 3.75 high school GPA AND a 29 ACT (1280 SAT) ALTERNATIVE EDUCATIONAL LOANS – Loans made by private lenders for educational expenses. We will process these loans but all eligibility for Title IV Loans should be used first. You will need to provide us with all the information about the private lender you choose. You can research lenders on the web under Private Educational Loans. *Student must fill out the FAFSA annually for these funds.