Understanding Financial Aid for College Education in Tennessee
Explore various financial aid sources, including federal, private, institutional, and state aid packages offered by the Tennessee Student Assistance Corporation. Learn about the cost of attendance, FAFSA application process, checklist requirements, federal aid programs like Pell Grants and Work-Study, as well as state aid options such as the Hope and Aspire Awards. Gain insights into managing subsidized and unsubsidized Stafford loans, plus eligibility criteria and award details for both 2-year and 4-year state aid programs.
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Financial Aid 101 Funding a College Education TENNESSEE STUDENT ASSISTANCE CORPORATION
Financial Aid Sources Federal Private Institutional State Package TENNESSEE STUDENT ASSISTANCE CORPORATION
Cost of Attendance Direct Costs Indirect Costs Tuition Books Fees Travel Room & Board Personal TENNESSEE STUDENT ASSISTANCE CORPORATION
FAFSA 2016-17 FAFSA on the Web Available January 1, 2016 www.fafsa.gov (VERY IMPORTANT!) PRIORITY DEADLINE IS AS SOON AS POSSIBLE AFTER JANUARY 1, 2016! TENNESSEE STUDENT ASSISTANCE CORPORATION
FAFSA Checklist Student s Social Security number Parent(s) Social Security number(s) Parent(s) D.O.B. & Marriage/Divorce information, if applicable Student sdriver s license number if you have one 2015 tax information for student and parent(s) To complete and submit FAFSA in January, use estimated tax information (i.e. 2014 tax return, 2014 W-2 information, or last paystub) Records of your untaxed income, such as child support and veterans noneducation benefits for student and parent(s) Information on checking and savings account balances; investments; and business and farm assets TENNESSEE STUDENT ASSISTANCE CORPORATION
Federal Aid Pell FSEOG Work Study $602 - $5,730 $100 - $4,000 Amount Varies Exceptional financial need 0 5157 EFC Need based Typically paid to student TENNESSEE STUDENT ASSISTANCE CORPORATION
Federal Aid Subsidized Stafford Unsubsidized Stafford Parent PLUS 4.66% fixed 4.66% fixed 7.21% fixed Interest does not accrue Interest does accrue Interest does accrue TENNESSEE STUDENT ASSISTANCE CORPORATION
State Aid (2-yr) Hope Aspire Award GAMS Scholarship $1,500 per semester $500 per semester $250 per semester 21 ACT or 980 SAT or 3.0 GPA 29 ACT or 1280 SAT & 3.75 GPA Parents AGI <=$36,000 TENNESSEE STUDENT ASSISTANCE CORPORATION
State Aid (4-yr) Hope Aspire Award GAMS Scholarship $1,750/sem then $2,250/sem $500 per semester $750 per semester 21 ACT or 980 SAT or 3.0 GPA 29 ACT or 1280 SAT & 3.75 GPA Parents AGI <=$36,000 TENNESSEE STUDENT ASSISTANCE CORPORATION
TN Promise Checklist Apply to the Tennessee Promise program at www.TNPromise.gov by November 1, 2015 Complete 2016-17 FAFSA at www.FAFSA.gov by February 15, 2016 Attend first mandatory meeting coordinated by a partnering organization by March 1, 2016 Attend second mandatory meeting coordinated by a partnering organization by May 31, 2016 Complete 8 hours of community service between January 1, 2016 August 1, 2016 TENNESSEE STUDENT ASSISTANCE CORPORATION
Online Applications Dependent Children Dual Enrollment Grant Ned McWherter Up to $6,000 February 15 Award amount varies High school juniors/seniors 29 ACT & 3.5 GPA Contact institution See brochure TENNESSEE STUDENT ASSISTANCE CORPORATION
Scholarship Search www.tntransferpathway.org www.tn.gov/collegepays www.tnpromise.gov www.collegefortn.org www.petersons.com www.cfmt.org www.scholarships.com www.nashvillescholarships.com www.cappex.com www.uncf.org TENNESSEE STUDENT ASSISTANCE CORPORATION
Contact Info James.snider@TN.gov 615.517.1033 (c) TENNESSEE STUDENT ASSISTANCE CORPORATION
Institutional Aid Academic Performance Need-Based Attribute Competitive? Art Determined by the EFC Church affiliation Renewable? Athletic College may use Institutional Methodology Alumni Deadlines Major Diversity Music Sibling Theatre TENNESSEE STUDENT ASSISTANCE CORPORATION
Award Letter 0 EFC; 3.0 GPA 2-yr Public 4-yr Public TN Private 0 EFC; 3.0 GPA 2-yr Public 4-yr Public TN Private COA COA $12,131 $12,131 $27,450 $27,450 $61,112 $61,112 Pell Grant Pell Grant -$5,730 -$5,730 -$5,730 -$5,730 -$5,730 -$5,730 HOPE/Aspire HOPE/Aspire -$3,500 -$3,500 -$5,000 -$5,000 -$5,000 -$5,000 Institutional Institutional ??? ??? ??? ??? ??? ??? Private Private Net Price ??? ??? ??? ??? ??? ??? $2,901 $16,720 $50,382 TENNESSEE STUDENT ASSISTANCE CORPORATION
Award Letter 5158 EFC; 3.0 GPA COA Pell Grant HOPE TN Promise 2-yr Public 4-yr Public TN Private 2-yr Public 4-yr Public TN Private 5158 EFC; 3.0 GPA COA Pell Grant HOPE TN Promise Inst/Private Inst/Private Net Price $12,131 $0 -$3,000 -607 $27,450 $0 -$3,500 $0 $61,112 $0 -$3,500 $0 $12,131 $0 -$3,000 -607 ??? ??? $8,524 $23,950 $57,612 $27,450 $0 -$3,500 $0 ??? ??? $61,112 $0 -$3,500 $0 ??? ??? TENNESSEE STUDENT ASSISTANCE CORPORATION
