Types of Financial Aid
Scholarships
Each year CBU offers scholarships to our incoming class of new students. Scholarships are intended to reward your accomplishments both in and out of the classroom. Find more information on our scholarships page.
Grants
Federal Pell Grant is a federally administered program, which offers a grant to undergraduate students on the basis of exceptional need, who are enrolled for at least 3 credits and have not earned a previous bachelors degree.
Federal Supplemental Educational Opportunity Grant (FSEOG) is a Federal grant, administered by the University. FSEOG is awarded to undergraduate students demonstrating exceptional need. Priority is given to full-time Federal Pell Grant recipients who apply on-time.
Tennessee residents who qualify for Federal Pell Grant may be eligible for the Tennessee Student Assistance Award (TSAA). Students with a calculated Expected Family Contribution (EFC) of 5846 or less could receive up to $4000. Available funding is limited, so students are awarded on a first come, first served basis. To be considered for the maximum award, a student should file the FAFSA as soon as possible after October 1.
Tennessee residents who qualify based on the academic criteria established by the state of Tennessee may be eligible for the Tennessee Educational Lottery Scholarship Program. Students wishing to be considered for any TELS funds must complete the FAFSA by the published state deadline of September 1.
Contact your state’s Department of Education to inquire about other awards your state offers. Tennessee students may contact the Tennessee Student Assistance Corporation online at www.tn.gov/collegepays or call 1-800-342-1663.
A University Grant is offered from CBU to help students finance their education. Awards are restricted to full-time traditional undergraduate students who apply on-time and demonstrate financial need. University grants may be categorized as University Grants, Buccaneer Award*, or Faculty Award.
*Buccaneer Award is offered and applied to students with housing assignments only. If the student chooses not to stay on campus this offer will be removed.
Click HERE for more information about grants.
Loans
Federal Direct Loan Program
Subsidized Loan is a fixed-rate loan offered on the basis of need made directly by the Federal Government. Interest does not accrue while the student is enrolled at least half-time. Repayment begins 6 months after leaving school or enrolling less than half-time with a standard of 10 years to repay. Students must be enrolled as at least a half-time student to be eligible and be enrolled in an undergraduate program of study.
Unsubsidized Loan is a fixed-rate, non-need-based loan made directly by the Federal Government. This loan is the same as the regular subsidized Direct Loan; with the exception that students must make interest payments while in school and during the grace period or the interest will be capitalized. Students must be enrolled as at least a half-time student to be eligible.
First-time borrowers must complete a Master Promissory Note (MPN) online at studentaid.gov. The MPN is a legal document on which the borrower’s signature represents a promise to repay future disbursed loans.
In addition, Loan Entrance Counseling is required for all first-time Federal Direct Loan borrowers. Entrance Counseling can be completed online at studentaid.gov. During your online counseling session, you will be informed of your rights and responsibilities as a borrower, and the terms and conditions associated with borrowing through the Federal Student Loan program.
Dependent undergraduate students can borrow up to:
- $5,500 for freshmen (Maximum subsidized portion, based on need: $3,500)
- $6,500 for sophomores (Maximum subsidized portion, based on need: $4,500)
- $7,500 for juniors and seniors (Maximum subsidized portion, based on need: $5,500)
Independent undergraduate students can borrow up to:
- $9,500 for freshmen (Maximum subsidized portion, based on need: $3,500)
- $10,500 for sophomores (Maximum subsidized portion, based on need: $4,500)
- $12,500 for juniors and seniors (Maximum subsidized portion, based on need: $5,500)
Graduate and Professional students can borrow up to:
- $20,500 in unsubsidized loans
- $12,500 MLIC
Lifetime Aggregate Limits:
- Undergraduate Dependent lifetime limit is $31,000 (up to $23,000 may be subsidized)
- Undergraduate Independent lifetime limit is $57,500 (subsidized and unsubsidized)
July 1, 2026: Graduate or Professional Lifetime Limits
- Professional students (for example, those in medicine, law, or similar licensure-based programs) may borrow up to $50,000 per year, with a lifetime limit of $200,000 in federal Unsubsidized Loans.
- Other graduate students may borrow up to $20,500 per year, with a lifetime limit of $100,000
Federal Plus Loan
Federal PLUS Loan is a non-need-based loan for the parents of dependent undergraduate students who are enrolled at least half-time. Standard repayment begins within 60 days after the loan is fully disbursed. Borrowers may request to defer payment until after the student ceases to be enrolled at least half-time.
Federal Graduate PLUS Loans
Federal Direct Graduate PLUS Loans Are Being Phased Out. Beginning July 1, 2026, new graduate and professional students will no longer be able to take out Federal Direct Graduate PLUS Loans
One Big Beautiful Bill Act (OBBBA) Federal Direct Student Loan Updates: Effective July 1 2026
Graduate PLUS Loans
Federal Direct Graduate PLUS Loans Are Being Phased Out. Beginning July 1, 2026, new graduate and professional students will no longer be able to take out Federal Direct Graduate PLUS Loans
If you’re currently enrolled and have already borrowed a GradPLUS Loan before July 1, 2026, you can continue to access GradPLUS funds for up to three additional years or until you finish your program—whichever comes first
Parent PLUS Loan
Parent PLUS Loans will be capped at $20,000 per student per year and a $65,000 lifetime limit beginning July 1, 2026.
*Parents who borrowed before July 1, 2026, can continue borrowing under the current limits for up to three additional years or until their student completes their program.
Lifetime Federal Direct Loan Limits
Students have a lifetime maximum loan limit of $257,500, which includes the total amount disbursed on all subsidized loans and unsubsidized loans and/or PLUS loans for graduate or professional students that was received prior to entering graduate studies and any of the same loan types that was received for your graduate studies. This means that even if the loans were paid off or a discharge on any amount of your loans, you can’t borrow more than the lifetime maximum loan limit.
Loan Schedule of Reduction (Loan Proration)
Beginning July 1, 2026, loan limits will be prorated depending on enrollment level, similar to grant funding. This means all borrowers enrolled less than full time will only be able to borrow loan amounts in direct proportion to their credit load, with a minimum half-time enrollment requirement. There is no legacy provision for this new rule.
Previously federal student loans would disburse in full for students enrolled half time or more. Beginning July 1, 2026, students must be enrolled full time to receive their full loan offer, and the loans will be reduced for every credit below full time until a student is less than half time, at which point the entire loan will be removed.
This process is referred to as a “schedule of reduction” and will be ongoing throughout the semester. If a student drops classes at any point during the semester, the Financial Aid Office may have to reduce previously disbursed loans to match the new level of enrollment.
*Borrowers enrolled in less than full time will only be able to borrow loan amounts in direct proportion to their credit load, with a minimum half-time enrollment requirement. The new law requires annual loan amounts to be adjusted in direct proportion to your enrollment status for the year. Your eligibility will be determined at the time of disbursement for that term.
Formula Calulations for Less Than Full-Time Students
Undergraduate Students (Full Time = 12 hours, 24 hours Fall, Spring and Summer)
Student is eligible for $5,500 in a federal direct subsidized loan and $2,000 in a federal direct unsubsidized loan and is a senior undergraduate who will enroll in 12 hours in fall and 9 in spring.
12 + 9 = 21
21/24 = 0.875 x 100 = 88%
$5,500 x 88% = $4,440 max subsidized loan
12 + 9 = 21
21/24 = 0.875 x 100 = 88%
$2,000 x 88% = $1,760 max unsubsidized loan
Traditional Licensure Student (Post Baccalaureate) (Full Time = 9 hours, 18 hours Fall, Spring and Summer)
Student is eligible for $12,500 in a federal direct unsubsidized loan and is a Master’s student in the Traditional Licensure Program. Student is enrolled in 6 hours for the fall semester and 6 hours for the spring semester:
6 + 6 = 12
12/18 = 0.67 x 100 = 67%
$12,500 x 67% = $8,375 max unsubsidized loan
Graduate (Full Time = 9 hours, 18 hours Fall, Spring and Summer)
Student is eligible for $20,500 in a federal direct unsubsidized loan and will enroll in 6 hours in fall and 6 hours in spring.
6 + 6 = 12
12/18 = 0.67 x 100 = 67%
$20,500 x 67% = $ 13,735 max unsubsidized loan
Student Employment
Federal Work-Study (FWS) may be offered to any student who is eligible. CBU makes employment under FWS reasonably available, to the extent of available funds, to all eligible students. Federal Work Study is not credited to your account balance as you wil recieve a paycheck for the hours you work.
If a student is not eligible for Federal Work-Study, he/she still has the opportunity to work part-time on campus in an institutional work-study job. These jobs are part-time positions on campus that are open to all students, regardless of financial need.
Read more about Work StudyActive Duty Veterans
If you served on Active Duty, you might be eligible for education benefits offered by the Department of Veterans Affairs. For example, the Post-9/11 GI Bill provides financial support for educational and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service-connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post-9/11 GI Bill.
If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your Service prior to enrolling.
If you are the spouse or child of a service member who is serving on active duty Title 10 orders in the paygrades of E1-E5, O1-O2, or W1-W2, you may be eligible for financial assistance from the Department of Defense for education, training, and/or the occupational license and credentials necessary for a portable career.
If you are the spouse or child of a service member, you may be eligible for transfer of the service member’s Post-9/11 GI Bill benefits to you.
