TUSCULUM COLLEGE >  FINANCIAL AID > TYPES OF AID AVAILABLE

FINANCIAL AID


We've made it easy for you to know the necessary steps to begin the process of applying for Financial Aid at Tusculum College.

TYPES OF AID AVAILABLE

GRANTS

GRADUATE & PROFESSIONAL STUDIES UNDERGRADUATE PROGRAM
  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • Tennessee Student Assistance Award (TSAA)
    must be TN Resident
  • Federal TEACH (Grant/Loan)
RESIDENTIAL UNDERGRADUATE PROGRAM
  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • Tusculum College Grant (merit based)
  • Tusculum College Opportunity Grant (need based)
  • Tennessee Student Assistance Award (TSAA)
    must be TN Resident
  • Federal TEACH (Grant/Loan)

TYPICAL SCHOLARSHIPS

GRADUATE & PROFESSIONAL STUDIES UNDERGRADUATE PROGRAM
  • Tennessee Education Lottery Scholarship Program *
    • HOPE Scholarship for Non-Traditional Students
    • Helping Heroes Grant
  • USS Greeneville Scholarship

* Must meet state eligibility requirements listed at www.collegepaystn.com

RESIDENTIAL UNDERGRADUATE PROGRAM
  • Tennessee Education Lottery Scholarship Program *
    • HOPE Scholarship
    • General Assembly Merit Scholarship (Supplement to HOPE)
    • Aspire Award (Supplement to HOPE)
    • HOPE Access Grant
    • HOPE Foster Child Tuition Grant
    • Helping Heroes Grant
    • Dual Enrollment Grants
  • Tusculum College Scholarships (merit based)
  • Tusculum College Athletic Scholarships
  • Tusculum College Band Scholarship
  • USS Greeneville Scholarship

* Must meet state eligibility requirements listed at www.collegepaystn.com

Outside Scholarships and Grants

LOANS/OTHER AID

GRADUATE & PROFESSIONAL STUDIES UNDERGRADUATE AND GRADUATE PROGRAMS
  • Federal Direct Subsidized Loans
  • Federal Direct Unsubsidized Loans
  • Federal Direct Parent Loan for Undergraduate Students (PLUS)
  • Federal Perkins Loan
  • Federal TEACH (Grant/Loan)
  • Work-Study (Eligibility is based on need and availability. To be considered, submit your FAFSA by February 1st)
RESIDENTIAL UNDERGRADUATE PROGRAM
  • Federal Direct Subsidized Loans
  • Federal Direct Unsubsidized Loans
  • Federal Direct Parent PLUS Loan for Undergraduate Students (PLUS)
  • Federal Perkins Loan
  • Federal TEACH (Grant/Loan)
  • Work-Study (Eligibility is based on need and availability. To be considered, submit your FAFSA by February 1st.)

 

Federal TEACH (GRANT/LOAN) PROGRAM

The Teacher Education Assistance for College and Higher Education (TEACH) Grant program is a non-need based grant program that provides up to $4,000* per year to students who are enrolled in an eligible program and who agree to teach in a high-need field, at a low-income elementary or secondary school as a highly qualified teacher, for at least four years within eight years of completing the program for which the TEACH Grant is awarded. The student must sign a service agreement to this effect and complete all required counseling prior to receiving a TEACH Grant. If the student fails to meet the requirements of the service agreement, the TEACH Grant will be treated as a Direct Unsubsidized Loan, and the student must repay the TEACH funds, with interest accrued from the date of disbursement, through the Direct Loan Servicing Center. Graduate students can receive up to $8,000 for a TEACH-eligible master’s degree program subject to the annual award amounts.

FEDERAL Direct LOAN PROGRAM

Student Loans are awarded as part of your financial aid package and are shown in the Self-Help section of the Financial Aid Award Letter. The Federal Direct Loan program allows students to borrow money from the Federal Government for college expenses and usually have low interest rates and offer attractive repayment terms. The Federal Government will withhold origination fees prior to disbursing funds. These loans are divided into two basic types: Subsidized and Unsubsidized.
Subsidized Loans have no interest charged on the principle amount of the loans, as long as, the undergraduate student remains enrolled in at least 6 credit hours and does not withdraw from Tusculum. An undergraduate student will lose the loan subsidy, if they fail to complete their enrolled program of study in the allotted timeframe (defined by each school as 150 percent of the length of a program). These loans are available to undergraduate students only who demonstrate financial need based on the FAFSA.
Unsubsidized Loans have interest that accrues to the principle amount beginning after the first disbursement has been released to Tusculum College. These loans are available to both graduate and undergraduate students, regardless of need (still must file a FAFSA), who maintain part-time enrollment of 6 or more credit hours.

FEDERAL PARENT PLUS LOAN PROGRAM

The Federal Government offers a low interest loan program for parents to borrow money to cover the remaining balances and other miscellaneous expenses for their students. Graduate students can also apply for the GRAD PLUS loan if additional funding is needed. PLUS loans require a credit check, and in some instances, an eligible endorser. Parents can apply online at www.studentloans.gov. Once a parent obtains the loan, repayment begins following the final disbursement for the year. Payments can be deferred until the student graduates, withdraws, or drops below 6 credit hours of enrollment by checking with the PLUS loan servicer for deferment options.

FEDERAL PERKINS LOAN PROGRAM

Federally funded loans borrowed from Tusculum College at a 5.00 percent fixed interest rate for both undergraduate and graduate students. Repayment begins nine months after a student ceases at least half-time enrollment.