Explanation of Financial Aid Award Terms
The following are terms you are likely to see on your financial aid award. If you have any questions concerning your award or the terms therein, please contact the Student Financial Services office at (615) 460-6403.
Federal Pell Grant - An undergraduate federal grant. The U.S. Department of Education determines eligibility. The Expected Family Contribution (EFC) Formula is the standard criteria used in determining financial need.
Federal Supplemental Educational Opportunity Grant (SEOG) - An undergraduate federal grant awarded to the most needy Federal Pell Grant recipients on a first come, first served basis.
Tennessee Student Assistance Corporation (TSAC) Grant - Awarded by TSAC on a first come, first served basis to needy undergraduate students who are Tennessee residents.
Tennessee Education Lottery (HOPE)Scholarship - Awarded to entering freshmen and returning students who are Tennessee residents and meet eligibility requirements as specified by the Tennessee state legislature. Award amounts are subject to reduction based upon lottery revenue. For more details visit http://www.tn.gov/collegepays.
Subsidized Federal Stafford Loan - Awarded on the basis of financial need. The federal government pays the interest on the loan until you begin repayment. The student must submit a Master Promissory Note (MPN) and complete online entrance counseling for his or her first Stafford Loan at Belmont University. Undergraduate students must be enrolled at least six hours. Graduate students must be enrolled at least three hours.
Unsubsidized Federal Stafford Loan - Awarded without regard to financial need. Interest will accrue from the time the loan is disbursed until it is paid in full unless the student chooses to make the interest payments while in school. Ths student must submit a Master Promissory Note (MPN) and complete online entrance counseling for his or her first Stafford Loan at Belmont University. Undergraduate students must be enrolled at least six hours. Graduate students must be enrolled at least three hours.
Federal Perkins Loan - Awarded to undergraduate and graduate students with exceptional financial need. Funds are limited. Undergraduate students must be enrolled at least six hours. Graduate students must be enrolled at least three hours.
Federal Parent Loan for Undergraduate Students (PLUS) - Available to parents of dependent, undergraduate students and requires an additional application. This is a credit-based loan. Repayment generally begins within 60 days of final disbursement. The loan amount listed on the award letter is a recommended amount. Students must be enrolled at least six hours.
Federal Work-Study - Provides jobs for students with financial need. Funds are limited. The FWS award amount will not automatically be posted as a credit on a student account. this is an award amount that a student may earn as a monthly paycheck through the FWS program.
Outside Scholarships - Scholarships funded by a source other than Belmont University. Please download the Outside Scholarship Report Form. Outside scholarships may reduce your financial aid award.
Institutional Scholarships - Scholarships funded by Belmont University. Students must be enrolled full-time (twelve or more hours) in order to receive institutional funds.
Institutional Discounts - Belmont University offers a Church Matching Scholarship, Church-Related Vocation Scholarship, Two Student Discount, and Southern Baptist Convention/Tennessee Baptist Convention Discount to qualifying students. These discounts require a separate application which must be renewed each year. Please download the appropriate form to see further detail.