Financial Aid FAQs

Financial Aid FAQs

Why should I apply for Financial Aid?

How will I be affected if I miss the Financial Aid deadline?

How do I apply for Financial Aid?

Do I reapply for financial aid each year?

What documents/information will I need to fill out my FAFSA?

My parents are divorced. Whose information do I need for the FAFSA?

What is the difference between dependent and independent students?

Tennessee Education Lottery Scholarship (TELS) Frequently Asked Questions
(PDF Document)

I do not get along with my parents or live with them. I pay my own rent and bills. Can I apply without my parent's income?

What eligibility requirements must I meet for Financial Aid?

When should I apply for financial aid?

I want to apply for a student loan. What do I need to do?

What if I had an unusual circumstance that prevented me from meeting the college's standards for satisfactory academic progress for financial aid?

Do I have to do "Entrance Counseling" for my student loan every year?

Do I have to do "Exit Counseling" for my student loan if I am not graduating?

Why was I selected for verification?

How will I know if I was selected for verification?

I qualified for the state grant, when can I expect a disbursement of funds?

I received a letter for an appeal for hours attempted toward a degree, what do I need to do?

What is the Priority Deadline for applying for a scholarship?

How much will I get paid for work study?

Why should I apply for Financial Aid?

You should apply for Financial Aid every year even if you think you don't qualify. Any change in family circumstances might affect your eligibility such as a brother/sister starting college. You may be eligible for monies that are funded by the state and federal government and do not have to be paid back.

How will I be affected if I miss the Financial Aid deadline?

Financial Aid deadlines are one of the most important things to consider when applying for financial aid. If you miss the deadline, this can result in classes being dropped for non-payment. At certain times, classes cannot be added back for any reason.

How do I apply for Financial Aid?

Go to the web site www.pin.ed.gov and apply for a PIN (Personal Identification Number). You will need to keep your PIN for future reference.
Go to the web site www.fafsa.ed.gov and complete the Free Application for Federal Student Aid. The application will be evaluated by the Department of Education. Within 3-5 business days an electronic SAR (Student Aid Report) will be sent to you and the Financial Aid Office.
The Financial Aid Office will evaluate the SAR to determine if your application was selected for verification. If you have been selected for verification you will need to supply the Financial Aid Office with necessary documents such as copies of Federal tax returns, verification worksheets, etc. If your application has NOT been selected for verification we will determine if you are eligible for grants. We will notify you either way with a letter letting you know.

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Do I reapply for financial aid each year?

You will need to renew your FAFSA form each year. This will be a much easier process than before as 75% of the information is pre-printed. You will need to provide any new income/asset information. Go to www.fafsa.ed.gov to fill out the renewal FAFSA.

What documents/information will I need to fill out my FAFSA?

Your Social Security number
Your driver's license (if any)
Your W-2 forms and other records of money earned (from the previous year)
Your (and your spouse's, if you are married) Federal Income Tax return (from the previous year) IRS Form 1040, 1040A, 1040EZ, Foreign Tax return, or Tax return for Puerto Rico, Gaum, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia, or Palau.
Your parent's Federal Income Tax return (if you are a dependent student)
Your untaxed income records (from previous year)
Your current bank statements
Your current business and investment mortgage information, business and farm records, stock, bond, and other investment records.
Your alien registration or permanent residence card (if you are not a U.S. Citizen)

**Keep these records!! You may need them again.

My parents are divorced. Whose information do I need for the FAFSA?

The parent with whom you lived with the most during the past year should complete the FAFSA. If you did not live with either parent or lived equally with each parent, the parent who provided you with the most financial support. It does not make a difference which parent claims you as a dependent for tax purposes.

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What is the difference between dependent and independent students?

Were you born before January 1st, 1984?

At the beginning of the 2007-08 year, will you be working on a master's or doctorate program?
As of today, are you married?
Do you have dependents other than your children/spouse who live with you and who receive more than half of their support from you, now and through June 30, 2008?
Are both of your parents deceased, or are you (or were you until 18) a ward/dependent of the court?
Are you a veteran of the U.S. Armed Forces?
Do you have children who receive more than half of their support from you?

If you answered yes to any of these questions, you are considered an independent student.

I do not get along with my parents or live with them. I pay my own rent and bills. Can I apply without my parent's income?

If unusual circumstances exist in your relationship with your parents, you may complete the Dependency Status Appeal. This form is available online at Financial Aid Forms or at the Financial Aid Office.

What eligibility requirements must I meet for Financial Aid?

Must have a High School diploma or GED.
Be enrolled at an eligible institution and in a program that leads to a degree
Be a U.S. Citizen or eligible non-citizen.
Maintain Satisfactory Academic Progress
Have a valid Social Security number.
Register with Selective Service (if applicable)
Have financial need

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When should I apply for financial aid?

You should complete a FAFSA as soon as possible after January 1st of each year. This will help ensure the funds are available to you when tuition and fees are due. Applications are processed in the order in which they are received so try to get your FAFSA filled out as early as possible. You will also need to keep a copy of your tax return in case the Financial Aid Office needs a copy.

I want to apply for a student loan. What do I need to do?

Loan Request Form

Here are some important things to remember when applying for a student loan.

You must complete the FAFSA.
You must be enrolled in at least 6 credit hours to be eligible for a student loan.
Attendance must be reported in your classes for student loan money to be disbursed.
Excess loan funds must be picked up from the cashier’s office within 7 business days or funds will be returned to your lender.
First time borrower’s must complete Entrance Counseling and electronically sign a Master Promissory Note. You will not need to do this process again unless you change lenders.
Exit Counseling must be done every year once loans have been fully disbursed.

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What if I had an unusual circumstance that prevented me from meeting the college's standards for satisfactory academic progress for financial aid?

A student can appeal the decision. Financial Aid Appeals that can be evaluated for mitigating circumstances are:

Serious illness or accident that prevented classroom attendance
Death, accident, or serious illness in the student's immediate family that prevented classroom attendance
Change in the student's academic program that led to the student exceeding the maximum number of credits allowed for financial aid.
Other documented extenuating circumstances that prevented the student from attending class.

Do I have to do "Entrance Counseling" for my student loan every year?

No, you only need to do the Entrance Counseling once while at PSTCC.

Do I have to do "Exit Counseling" for my student loan if I am not graduating?

Yes, Exit Counseling must be done as you exit PSTCC. If you come back, even the very next semester, and take out another loan it must be done when you exit again.

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Why was I selected for verification?

FAFSA selects 30% of all applicants and requires the school to verify the information provided. It is a random process and does not necessarily mean that anything is wrong.

How will I know if I was selected for verification?

Students can check their account www.mypellissippi.com to see if they are selected for verification and see what forms are needed. You can also track the process on your account from start to finish.

I qualified for the state grant, when can I expect a disbursement of funds?

The state will send checks to the Financial Aid office towards the end of each semester. Please check your account www.mypellissippi.com to see when funds are available.

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I received a letter for an appeal for hours attempted toward a degree, what do I need to do?

If you exceed 90 attempted hours toward a degree your financial aid is placed on hold. You must appeal the process in order for holds to be lifted. The financial aid committee will review your appeal and let you know if you are approved or denied for additional financial aid.

Here are the steps in order to complete your appeal.

Go to the financial aid web site and print a copy of the 90 hour appeal form. You may also come by the financial aid office and pick up a copy.
Schedule an appointment with an advisor in the student assistance center (865) 694-6556. Your appointed advisor will complete the paperwork and a degree audit plan for you and sign your documents. Do not fill out the forms yourself.
Bring the completed copy to the financial aid office.

*After the committee reviews and makes a decision on your appeal, a letter will be sent to your email account.

What is the priority Deadline for applying for a scholarship?

Make sure the application is completed and turned in by March 15th every year.

09—10 Scholarship Application

How much will I get paid for work study?

Work study will pay 7.25 an hour for Fall and Spring semesters.

09—10 Federal Work Study Application

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