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College Catalog

Financial Aid

The student financial aid program at Pellissippi State is designed to assist students who find it difficult to attend college without financial assistance. Pellissippi State offers a comprehensive program of financial aid through scholarships, part-time employment, grants and loans. Major emphasis is placed on financial need, academic achievement, character and promise of future success. Students may apply for either one or a combination of types of financial aid.

The basis for determining financial need is the result of an analysis of the parents’ and/or student’s resources as provided by the Free Application for Federal Student Aid (FAFSA). This application may be completed on the Web at www.fafsa.ed.gov, or the paper form is available in most high schools and the Financial Aid Office at Pellissippi State.

Eligibility for financial aid is based on financial need, availability of funds and ability to maintain satisfactory academic progress. To qualify a student must

  1. Complete the Free Application for Federal Student Aid (www.fafsa. ed.gov) to determine financial need.
  2. Apply for admission to Pellissippi State as a regular, degree-seeking student.
  3. Submit documentation (tax returns, verification forms, etc.) to the Pellissippi State Financial Aid Office if requested.
  4. Have official academic transcripts sent to Pellissippi State’s Enrollment Services from all postsecondary institutions previously attended.
  5. Meet Pellissippi State’s satisfactory academic progress standards for financial aid recipients.

Pellissippi State encourages students to apply early for financial aid. There are priority deadlines for each semester as outlined in the Academic Calendar. Financial aid files completed as of the priority deadline will be given first consideration in the allocation of institutional and federal campus-based funds. Files completed after the priority deadline will be accepted and awards made to eligible students on a first-come, first-served basis as long as funds are available.

Federal and state grants and scholarships

Federal Pell Grant. The Federal Pell Grant is a federal aid program designed to provide financial assistance to those who need it to attend post-high school educational institutions. These grants are intended to be the floor of a financial aid package and may be combined with other forms of aid in order to meet full costs of education. The amount is determined on the basis of student and family financial resources. Application is required each year by completing the FAFSA. Grants are limited to U.S. citizens, permanent residents and certain other non-citizens.

Federal Supplemental Educational Opportunity Grant. The Federal Supplemental Educational Opportunity Grant (SEOG) is a program of direct grants available to entering freshmen, transfer and enrolled undergraduate students with exceptional financial need. The amount of financial assistance received depends upon need—taking into account financial resources of the student and parents and costs of attending Pellissippi State. Application is required each year by completing the FAFSA and is limited to U.S. citizens, permanent residents, and certain other eligible non-citizens.

Tennessee Student Assistance Award. The Tennessee Student Assistance Award (TSAA) is a state grant program established to assist eligible Tennessee residents who will be enrolled as undergraduate students at eligible Tennessee colleges and universities. The grant is based on financial need, and in NO case may the grant be more than the amount of tuition and fees assessed by the institution. The grant is administered through the Tennessee Student Assistance Corporation.

Students wanting to be considered for this grant must complete the Free Application for Federal Student Aid (FAFSA) in time for the application to be processed before the priority deadline. Due to limited funds for the past few years, the state has exhausted grant funds in mid-February; therefore, students should complete their applications no later than the first week of February. Tennessee Educational Lottery Scholarship. Students attending Pellissippi State may be eligible for the Tennessee Educational Lottery Scholarship. For more information on this program, visit the Web site at www.collegepaystn. com/mon_college/lottery_scholars.htm.

Work-study

Federal Work-Study Program. The Federal Work-Study Program provides part-time employment opportunities to students. To be eligible, a student must be accepted to the College or be currently enrolled. If currently enrolled, the student must be in good standing academically. Student eligibility further depends upon financial need as determined by the Free Application for Federal Student Aid, with preference given to applicants from low-income families. Students interested in participating in the Federal Work-Study Program should contact Financial Aid.

Loans

William D. Ford Federal Direct Stafford Loan. The William D. Ford Federal Direct Stafford Loan is a low-interest loan initiated by the student. Application is required each year and MUST be certified by the Financial Aid Office prior to being submitted to the lender. All recipients must be enrolled at least half time (6 semester hours).

In addition to a master Promissory Note (MPN), entrance loan counseling, and loan request form, a student must complete the Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA to apply for a William D. Ford Federal Direct Stafford Loan. The FAFSA information will determine whether the student is eligible for a subsidized or unsubsidized Stafford Loan (or a combination of the two).

Students are eligible to receive no more than two full loans at freshman status and two full loans at sophomore status. Loans received at previous institutions are included in the total. Students must have completed a minimum of 30 regular hours, including transfer hours accepted, to be considered a sophomore. Subsidized Direct Federal Stafford Loan. Awarded on the basis of financial need. The federal government pays interest on the loan while the student is in school.

Unsubsidized Direct Federal Stafford Loan. Not based on financial need. Student must pay the interest from the time the loan is disbursed until it is paid in full.

Federal regulations stipulate that entrance counseling must be conducted before release of the first disbursement of the first Federal Stafford Loan made to a borrower at Pellissippi State. Federal regulations also state that first-time, first-year borrowers cannot pick up (or have credited to their account) the first disbursement of their student loan until 30 days following the first day of class.

William D. Ford Federal Direct Parent Loan. The Federal Parent Loan Program (PLUS) makes loan funds available to parents of dependent undergraduate students to assist with educational expenses. Parents may borrow up to the cost of education minus any financial assistance that the student is already receiving.

Student Emergency Loan Program. The Student Emergency Loan Program was established by the Pellissippi State Foundation to make privately donated funds available as loans to students whose financial needs are such that they will be forced to drop out of school without this assistance. These loans are to be paid back within the semester.

Students must file a written application with the director of Financial Aid. Priority is given to students showing academic promise. The amount varies with the individual need. The loans are awarded only as long as funds are available and on a first-come, first-served basis.

Institutional scholarships

Pellissippi State awards numerous scholarships based on talent, academic achievement and/or financial need. In order to be considered for scholarships at Pellissippi State, applicants must first submit an application for admission and an official high school transcript or the equivalent, and then submit a Pellissippi State scholarship application. By submitting this application, applicants will be considered for any scholarship for which they qualify.

Upon completion, scholarship applications must be submitted to Financial Aid, along with recommendations and essays, if required. High school graduates must submit a Scholarship Letter of Recommendation Form from their high school guidance counselor, a teacher or a recognized professional person such as their employer. Returning students must submit a Scholarship Letter of Recommendation Form from their faculty advisor, a teacher or a recognized professional person such as their employer. Some scholarships may require two Letter of Recommendation Forms and a written essay. In addition, many scholarships require completion of the Free Application for Federal Student Aid (FAFSA).

Priority deadline for scholarship applications is April 16. Applications received after April 16 will be considered if funds remain available. For applications and information on specific scholarships, visit the Financial Aid Office or the Financial Aid Web site: www.pstcc.edu/departments/financial_aid. Pellissippi State Academic Service Scholarships. Academic Service scholarships are tuition-fees-only scholarships based on scholastic achievement and the fulfillment of a 75-hour work obligation. They are available as funded for tuition and mandatory fees to first-time, full-time students who graduated from high school within the previous 12 months with a minimum grade point average of 2.9 or the equivalent. Awards to GED and home-school students will be based upon evidence of comparable scholastic ability.

Scholarships are limited to two years and continuation is evaluated at the end of each semester. Priority is given to applications received by April 16. Applications received after that date will be considered only if funds remain available.

Pellissippi State Foundation Scholarships. The Pellissippi State Foundation provides numerous scholarships on an annual basis to students currently enrolled or preparing to enroll at Pellissippi State. These awards are made possible through donations from the community, faculty and staff. To learn more about Foundation scholarships, visit the Pellissippi State Foundation Web page: www. pstcc.edu/foundation/index.html.


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