2013-2014 Undergraduate Catalog - Belmont University


Financial Aid Programs

The purpose of financial aid at Belmont University is to provide assistance to students who need help in meeting the cost of education. Belmont believes that the primary responsibility for providing educational expenses rests with the student and parents. Financial Aid should assist in providing the difference between the expected family contribution and the cost of education or the student’s financial need. (Cost of education minus expected family contribution equals estimated financial need.) All resources other than family contributions are considered financial aid.

Remember:

  1. Renewal of aid is not automatic. The student must demonstrate satisfactory academic progress throughout the undergraduate years.
  2. The amount offered in grants, loans, and work-study funds may vary from year to year.
  3. All Federal programs are subject each year to the action of the Congress of the United States of America.
  4. All financial aid is awarded to students without regard to race, sex, or age. The majority of aid is provided on the basis of financial need. Financial assistance granted is to be used only for legitimate educational purposes.
  5. Please refer to your financial aid award packet for additional information regarding "Conditions of Award".

How Do I Apply?

To be considered for financial aid, an applicant should:

  1. Complete application procedures by March 1. Students not completing the application process by March 1 will be considered for aid by date of completed application.
  2. Apply and be accepted for admission to Belmont University.
  3. Submit the Free Application for Federal Student Aid (FAFSA) or the Renewal FAFSA (for previous Federal Aid applicants) and request that Belmont University receive a copy of the analysis. The FAFSA requires approximately six weeks for processing and should be filed much earlier than the March 1 priority deadline.
  4. All Tennessee residents should complete the FAFSA or Renewal FAFSA to be considered for Tennessee Student Assistance Award and the TELS Award..

Types of Financial Aid Available

MERIT BASED AID

Academic Scholarships
Academic scholarships are awarded to incoming freshmen on the basis of academic excellence and individual achievement. The application for admission to the university serves as the application for merit scholarship.  General academic merit scholarships are awarded to freshman applicants on a rolling basis within 30 days following the offer of admission. December 1 is the application deadline for consideration for Belmont’s most competitive named and departmental scholarships. Notification of named and departmental scholarships will be sent in mid-February. These scholarships are renewable for a specific period, provided the student maintains the necessary grade-point average. The scholarships are competitive and are awarded through a selective process by the Office of Admissions. Incoming freshmen are considered for an academic merit scholarship if they meet at least four of the following six criteria: completion of a strong college preparatory curriculum, un-weighted core GPA of 3.5 or higher, un-weighted cumulative GPA of 3.5 or higher, top 10 percent of class rank, ACT of 28 or higher or SAT of 1260 or higher (composite score of Critical Reading and Math), and significant individual achievement.  The value of the scholarship ranges from $2,000 to $12,000 per year.

Presidential Scholarships
Belmont's most competitive scholarship, awarded to five incoming freshmen, covering full tuition, room, board, books, and fees.  To be considered for the Presidential Scholarship, students must meet all six of the criteria outlined above and have a standardized test score of at least a 29 (ACT) or 1320 (SAT composite score of Critical Reading and Math).

William Randolph Hearst Endowed Scholarship Program
One scholarship covering full tuition, room, board, books, and fees for a student from a diverse background with outstanding academic and leadership records.

Ingram Diversity Leadership Scholarships
Four full-tuition scholarships for students with diverse backgrounds from the Nashville area with outstanding academic and leadership records.

Thomas J. Madden Ministerial Scholarship
One full-tuition scholarship for a Baptist freshman man majoring in religion and who plans to enter fulltime ministry.

Faculty Scholarships
Seventy-five $15,000 awards to the top incoming freshmen who qualify for the Presidential Scholarship.

Servant Leader Scholarship
One full-tuition scholarship for a Baptist freshman woman who majors in religion and who plan to enter a church-related career.

Turner Scholarship
$7,500 awards for students from rural high schools with outstanding academic records and demonstrated need.

Glover Accounting Scholarship
Merit-based scholarship for students majoring in accounting who meet academic scholarship criteria.

Glover Business Scholarship
Merit-based scholarship for students majoring in business who meet academic scholarship criteria.

Leadership Scholarships
Twenty-five $2000 awards to incoming freshman who demonstrate outstanding leadership abilities through the resume of activities.

Rose Park Scholarships
Half and full tuition scholarships for deserving incoming freshman with demonstrated need who live in proximity to ES Rose Park.

Community Scholarships
Half tuition scholarships awarded for deserving incoming freshman with demonstrated need and above average academic credentials who live in proximity to the Belmont University campus.

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PERFORMANCE-BASED AID

Athletic scholarships
Performance-based scholarships based upon athletic ability and level of need of position. Contact the coach of the sport for more information. http://www.belmontbruins.com/athletics

Music scholarships
Performance-based scholarships for music majors based upon audition, level of music involvement and academic record. http://www.belmont.edu/music

Art Scholarships
Performance-based scholarships for art majors based upon portfolio, personal interview, and academic record.  http://www.belmont.edu/art

Athletic Grants-in-Aid
A grant program for those participating in athletics. Students must contact the Athletic Director or the coach of the sport in which they are interested.

INSTITUTIONAL GRANTS

Application forms may be obtained from Belmont Central or on line at www.belmont.edu/sfs..

Tuition Discount Grant
Dependent students of full-time employees of entities of the Southern Baptist Convention and the Tennessee Baptist Convention eligible for $250 per semester.

If two or more students from the same family are attending Belmont, a two-student discount of $100 per semester per student will be given. This discount is not available in the summer.

Church-Related Vocational Grant
Students who are members of a church affiliated with the Tennessee Baptist Convention and who wish to pursue a career in a church-related vocation; i.e., pastoral, education, music, youth, or mission ministries are eligible for $250 per semester.

Church-University Matching Grant
Students who are members of a church affiliated with the Tennessee Baptist convention and receive financial support from their church are eligible for a matching contribution from Belmont up to $250 per semester.

NEED-BASED AID

Grants (Governmental)

Federal PELL Grants – A direct grant from the Federal Government based on financial need as determined by the FAFSA. The recipient must be a U.S. Citizen, or in the U.S. for other than temporary purposes. The recipient must maintain satisfactory academic progress. The maximum grant is determined each year by legislation.

Federal Supplemental Educational Opportunity Grants (FSEOG) – A federal grant administered by Belmont University and based on financial need and availability of funds.

Tennessee Student Assistance Award (TSAA) – A direct grant from the State of Tennessee, for undergraduate Tennessee residents. All awards are based on financial need and availability of funds.

Employment Programs

Federal Work-Study Program (FWSP) – A federal program administered by Belmont whereby students may work up to 20 hours per week. The number of hours per week is based on financial need and monies available.

A student may remain employed only as long as they do satisfactory work and their academic record warrants it. A student may not work more than 20 hours per week.

Off-Campus Employment – The Career Services Office will assist students in locating community work opportunities.

Loans

Federal Parent Loan (PLUS) – A federal loan program for parents of undergraduate dependent students with no income restrictions. This is a credit-based loan with a variable interest rate.

Federal Perkins Loan Fund – A federal loan program administered by Belmont University whereby needy students may borrow long-term, low-interest (5%) loans. Interest and repayment are deferred from six to nine months after the student leaves school. All Federal Perkins Loan recipients must participate in an exit interview if they do not plan to return to Belmont the following academic year.

Federal Stafford Loan and Unsubsidized Federal Stafford Loan – A Federal loan program for students enrolled at least half-time. Maximum annual loan amounts are determined by a student's class level. The FAFSA must be filed each year.

Stafford checks and Electronic Fund Transfers (EFT) must be applied to student's account. Should the application of the check or EFT result in an overpayment of the account, the credit balance will be refunded according to the refund policy. All Stafford Loan recipients must participate in an exit interview if they do not plan to return to or graduate from Belmont.

Other Aid Programs

Social Security, Veterans Administration and Vocational Rehabilitation are other sources of financial assistance. All funds received by these agencies must be reported to the Office of Student Financial Services. For further information regarding these programs, contact the appropriate agency.

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Financial Aid Satisfactory Progress Standard

In order to receive federal financial aid, students must be making satisfactory academic progress. The university is required to apply standards that are both qualitative and quantitative. These standards apply for periods of enrollment which began on or after August 1, 1998.

Eligibility for federal programs will be evaluated as part of the initial application process and again at the end of each academic year. In the evaluation process, all grades of “W” (withdrawn) or “I” (incomplete) will be counted as hours attempted but not passed. Repeated courses will count as hours attempted. Entering students are considered to be making satisfactory academic progress.

Students cannot receive aid after attempting 150% of the hours required for completion of their academic program. Hours accepted for transfer credit will reduce this time frame.

Undergraduate Students

Qualitative - Students must be accepted for admission and be eligible to enroll for classes. Students must also achieve and maintain a cumulative 2.0 grade point average on all course work attempted at Belmont.

Quantitative - Students must average passing 75% of all hours attempted.

Graduate Students

Qualitative - Students must be accepted for admission and be eligible to enroll for classes. In addition, students must achieve and maintain a 3.0 cumulative grade point average on all course work attempted at Belmont.

Quantitative - Students must average passing 75% of all hours attempted.

Appeals

Students failing to meet these standards for satisfactory academic progress may feel that there are mitigating circumstances that contributed to their failure. In such cases, students may choose to appeal for reinstatement of their financial aid eligibility based on these unique circumstances.

Appeals must be submitted in writing and should be addressed to the

Appeals Committee
Office of Student Financial Services
Belmont University
1900 Belmont Boulevard
Nashville, TN 37212-3757

Decisions of the committee will be communicated in writing.

Withdrawal and Return of Federal Title IV Funds

When a student who received federal Title IV financial aid withdraws from the university, the unearned portion of these awards must be returned to federal Title IV financial aid programs. Federal Title IV financial aid includes the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), the Federal Perkins Loan, the Federal Stafford Loan, and the Federal Parent Loan for Undergraduate Students (PLUS).

In order to determine the unearned portion of federal financial aid, first subtract the number of days remaining in the academic term after the withdrawal date (federal regulations define the withdrawal date as the date on which the student initiates the withdrawal process) from the total number of days in the academic term. The remainder is divided by the total number of days in the academic term. The resulting percentage is applied to the total of federal Title IV federal aid awarded to the student for the term in order to determine unearned Title IV aid.

The federal government has prescribed the order in which unearned aid is returned to federal Title IV programs. The responsibility for the return of unearned federal Title IV financial aid is shared by the student and the university.

Students and parents should note that the requirement to return federal Title IV funds may result in a balance due to Belmont University subsequent to withdrawal.