FINANCIAL AID: Available Aid
The Office
of Financial Aid at Columbia State offers a comprehensive program
of financial aid. The major forms of assistance are grants, loans,
work and scholarships. Below is a brief description of each program.
1.
Grants are based on financial need and do not have to be repaid.
- Federal Pell
Grants are funds made available to assist students who have
a financial need and who have not received a baccalaureate degree.
Eligibility is determined by the U.S. Department of Education by
evaluating the information provided on the Free
Application for Federal Student Aid (FAFSA). April 15 is the
priority deadline for the following fall semester. The grants can
range between $400 and $4,000 each academic year, depending on enrollment
status.
- The Federal Supplemental Education Opportunity Grant (FSEOG) may be given to undergraduates with exceptional financial need.
Eligibility is determined by the Office of Financial Aid, based
on financial need and available funds. Applications received by
April 15 for the following fall semester will be given priority.
Awards are between $500 and $1000 each academic year.
- Tennessee
Student Assistance Awards (TSAA) are grants made available to
Tennessee residents who are enrolled or will be enrolled as undergraduate
students in an eligible college or university in Tennessee. Eligibility
is determined by the Tennessee Student Assistance Corporation (TSAC),
based on information received from the U.S. Department of Education.
Students are advised to apply well before April 15 to receive aid
for the following fall semester. Students must be enrolled at least
part-time (six hours). Awards range from $300 to $1026 per academic
year, depending on enrollment status.
2.
Loans are based on financial need and must be repaid or cancelled
in accordance with specific program regulations. Separate applications
in addition to the Free Application for Federal Student Aid (FAFSA)
are required.
- The Subsidized
Federal Stafford Loan is a long-term loan for which a student
must demonstrate financial need as determined from the filing of
a FAFSA. The
interest rate for new borrowers is variable. The government pays
the interest if the student is enrolled at least part-time (six
hours). Repayment of the loan begins six months after the student
graduates or ceases to attend. Monthly payments will vary depending
on the total amount the student borrows. Recommended application
dates are prior to July for the following fall semester and prior
to November for the spring semester. The yearly maximum that a student
can borrow from the Stafford Loan program is $2,625 for freshmen
and $3,500 for sophomores.
- The Unsubsidized
Federal Stafford Loan is a program created for all students
regardless of income. The interest rate and annual amounts a student
may borrow are the same as with the Subsidized Federal Stafford
Loan. However, for the Unsubsidized Federal Stafford Loan, only
the principal may be deferred while the student is in college. Students
pay interest charges while enrolled in college or have the accumulated
interest added back into the original loan amount (capitalized).
Recommended application dates are prior to July for the following
fall semester and prior to November for the spring semester.
- The Federal
Parent Loan for Undergraduate Students (PLUS) is a long-term
loan available to parents of dependent students regardless of income
level. These loans are available to parents who have no adverse
credit history. The interest rate is variable. The annual loan limits
are based on the cost of attendance minus other financial assistance.
The loan checks will be made co-payable to the school and parents,
and repayment will begin 60 days after the disbursement by the lender.
Recommended application dates are prior to July for the following
fall semester and prior to November for the spring semester.
3.
Work is based on financial need and/or job skills. A student employment
application must be completed.
- Federal College Work-Study is a program to provide part-time
employment for students. Eligibility is based on financial need.
Students usually work 10 to 15 hours per week in college departments
at the prevailing federal minimum wage. Students are paid monthly.
- Institutional
Work is available for a limited number of students who do not
qualify for work-study. Work assignments may be assigned to students
based on academic and/or job skills. Funds for this program are
provided through the regular college budget. The number of hours
students are allowed to work depends upon their eligibility, class
schedule, and available funds.
4.
Scholarships are awarded to students each academic year based on
such criteria as academic achievement, participation in school activities,
financial need, community involvement and major emphasis of study.
Separate applications in addition to the FAFSA are required and
are available at all five Columbia State locations.
- Tennessee Hope Scholarships - These scholarships are provided through the Tennessee Education Lottery Scholarship Program. To determine eligibility, the student must apply for Federal Student Aid (FAFSA). Priority deadline is May 1 for fall enrollments. For all eligibility requirements and information about the Hope Scholarship, please contact the Financial aid office.
- Honors
Scholarship applicants must be recent high school graduates
and have a composite score of 23 or above on the ACT. This scholarship
will cover tuition expenses. Recipients must maintain a 3.25 grade
point average (GPA) to continue receiving the scholarship, which
is awarded each fall and spring semester. The application deadline
is March 15 for the following fall semester.
- Foundation Scholarships come
from many sources such as individuals, alumni, civic and professional
organizations, and businesses. Scholarships are awarded by the Financial
Aid Scholarship Committee and awards may vary. The application deadline
is March 15 for the following fall semester.
- Academic
Service Scholarship awards are made each year to recent Tennessee
high school graduates. Students must have a minimum 2.9 high school
average and ACT composite of 19 to qualify for the scholarship.
The financial need of the applicant will be considered a favorable
factor only when all other conditions appear equal. The scholarship
will cover tuition expenses for full-time students in exchange for
the student working 75 hours per semester. The scholarship, awarded
for the fall, may be renewed for the spring semester if the student
achieves a 3.0 GPA. The application deadline is March 15 for the
following fall semester.
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