Financial Aid Announcements
- Alpha Pi Omega Foundation Continuing Education Scholarship
- Jack Kent Cooke Foundation Scholarship
- Knoxville Area Urban League Minority Scholarship Program
- MTSU Transfer Scholarship
- Tennessee Transfer Associates Scholarship (UTK)
What's New For 2013-2014?
150% Subsidized Loan Limitation (Effective July 1, 2013)
Congress has approved a new 150% limit on Subsidized Direct Loans. Federal Direct Loan borrowers taking their first loan on or after July 1, 2013 may qualify for a subsidized Direct Loan for a maximum of 150% of the length of their academic program. Students will be limited to receiving subsidized loans for 3 years in a 2 year program or 6 years in a 4 year program. Additionally, borrowers who reach the 150% limitation will have their interest subsidy end for all outstanding subsidized loans first disbursed on or after July 1, 2013. Further information will be provided once the Department of Education determines how this provision will be implemented.
What's New For 2014-2015?
Beginning with the 2014-15 academic year, the awarding process for the Tennessee Student Assistance Award (TSAA), the state’s need-based grant program, will change. Applications with a completion date (an application that is complete and error free) by March 1 will be considered. The maximum Expected Family Contribution (EFC) will remain at 2100.
Below is a summary of the awarding process:
- Renewals, TSAA recipients who received an award in the prior year (2013-14), will be given first priority if their applications are complete by March 1. Renewal students must continue to have an EFC of 2100 or less to receive the award.
- All other eligible applicants who have a completion date on or before March 1will be ranked based on their Expected Family Contribution (EFC) and completion date after the deadline.
- Applicants with a zero EFC will be given first priority.
- If funding remains after awarding zero EFC students then awards will be made to applicants with EFCs greater than zero.
Students should continue to complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov as early as possible after January 1.