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Types of Financial Aid




Scholarships

Scholarships are gifts that do not need to be paid back. Students may seek assistance both institutional scholarship funds as well as outside scholarship programs. Please visit our Scholarships page for more information. 

Grants (Government)

Federal PELL Grants - 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 Education Opportunity Grants (FSEOG) - An undergraduate federal grant awarded to the neediest 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.tnscholardollars.com/.

Federal Work-Study Program (FWSP) - Provides jobs for students with financial need. Funds are limited. The FWS award amount will not be posted as a credit on the student's account. This is an award amount that a student may earn as a monthly paycheck through the FWS program.

TEACH Grant - Teacher Education Assistance for College and Higher Education (TEACH) Grant program provides grants of up to $4000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. For more details visit https://teach-ats.ed.gov/ats/index.action .

Loans

For more information on loans, visit our Student Loan Information page.

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 Parent Loan for Undergraduate Students (PLUS) - Available to parents of dependent, undergraduate students and requires an additional application. This is a credit-based loan. The loan amount listed on the award letter is a recommendation. Repayment generally begins within 60 days of final disbursement for the current aid year. Students must be enrolled at least six hours.

PLUS Loan for Graduate/Professional Students - PLUS loans for graduate or professional students will be in effect for the 2006-2007 academic year. These loans will be certified beginning July 1, 2006. You must first apply for the annual maximum Stafford loan amounts. You will then be eligible to apply for a Grad PLUS loan up to the cost of attendance minus financial aid. These loans are based on credit and students must be enrolled at least 3 semester 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.

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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