Federal Student Aid

What is Federal Student Aid?

Federal Student Aid is money from the federal government that helps a student pay for higher education. It usually covers tuition, fees, room and board, books, supplies, and transportation. Aid can also help pay for a computer and for dependent care. Federal Student Aid is applied for when you fill out your FAFSA (Free Application for Student Aid) beginning October 1st of the student's senior year. The application process is done online and not through the school at all. We will post different help sessions when we learn of them that you can attend for additional help, but we can only provide an email address or phone number.

There are 3 main categories of Federal Student Aid:

  • Grants: These are based on financial need, and does not have to be repaid.

  • Work-Study: Money earned while attending school and does not have to be repaid.

  • Loans: These are given, but must be repaid with interest.

Grants and Student Loans

Generally, your school will give you your grant or loan money in at least two payments called disbursements. In most cases, your school must give you your grant or loan money at least once per term (semester, trimester, or quarter). Schools that don’t use traditional terms such as semesters or quarters usually must give you your grant or loan money at least twice—for instance, at the beginning and midpoint of your academic year or program.

Note: If you’re a parent taking out a Direct PLUS Loan to help pay for your child’s education expenses, your loan funds will be disbursed according to the same type of schedule.

The following may apply if you haven’t taken out a federal student loan before:

  • If you’re a first-year undergraduate student and a first-time borrower, you may have to wait 30 days after the first day of your enrollment period (semester, trimester, etc.) before your school is allowed to give you your loan money. Check with your school to see whether this rule applies.

  • If you’re a first-time borrower of a Direct Subsidized Loan or a Direct Unsubsidized Loan, you must complete entrance counseling before your school can give you your loan money.

  • If you are a graduate or professional student taking out a Direct PLUS Loan for the first time, you must complete entrance counseling before you receive your first loan disbursement. Note: Counseling isn’t required if you’re a parent taking out a Direct PLUS Loan to help pay for your child’s education.

Work-Study

If you’re going to have a work-study job, you’ll be paid at least once a month.

If you don’t receive the type or amount of financial aid you expected, contact your school. The financial aid office can explain how your aid was determined.

How You’ll Receive Your Financial Aid

How you’ll get your aid depends on the type of aid you accepted.

  • Grants and Student Loans. Typically, the school first applies your grant or loan money toward your tuition, fees, and (if you live on campus) room and board. Any money left over is paid to you directly for other education expenses.

  • If you get your loan money, but then you realize that you don’t need the money after all, you may cancel all or part of your loan within 120 days of receiving it and no interest or fees will be charged.

Work-Study

Your school must pay you directly unless you request that the school

  • send your payments directly to your bank account or

  • use the money to pay for education-related charges (e.g., tuition, fees, room and board) on your student account.

Direct PLUS Loans for Parents

  • In most cases, your child’s school will give you your loan money by crediting it to your child’s school account to pay tuition, fees, room, board, and other authorized charges. If there is money left over, the school will pay it to you. In some cases, with your permission, the school may give the leftover money to your child.

  • If you take out a loan as a student or parent, your school (or your child’s school) will notify you in writing each time they give you any part of your loan money. At the same time, they’ll provide information about how to cancel all or part of your loan if you find you no longer need the full amount. You will also receive a notice from your loan servicer confirming that you received the loan money.

Paying for Textbooks and Other Course Materials If You Haven’t Received Your Financial Aid

Schools that participate in federal student aid programs must provide a way for you to obtain your books and supplies by the seventh day of the term if

  • you are eligible for disbursement (i.e., the payment of your financial aid) 10 days before the term begins and

  • you will have a credit balance (i.e., money left over) after your financial aid is applied to your tuition, fees, and other school charges as applicable.

Your school can tell you if the above criteria apply to you.

How Your School Gets Your Financial Aid Funds to You for Course Materials

  • You should ask your financial aid office about this because it varies from school to school. For example, if the school offers a bookstore voucher or other means for students to receive their books and supplies through the school or its bookstore, you could obtain your materials that way.

  • When your school gives you financial aid, sometimes money is left over after your aid is applied to your tuition, fees, and other school charges. This remaining amount is called a credit balance. If you have a credit balance, your school must pay this amount to you directly within 14 days unless you authorize the school to keep the money to pay for future institutional charges.

  • The amount the school is required to provide is either the amount of your credit balance or the amount needed for books and supplies (as determined by your school), whichever is less. Your school can tell you if this applies to you.

Even if the school’s preferred arrangement is to provide vouchers or other means for you to get your course materials through the school or its bookstore, the school must provide you the opportunity to opt out, receive a check from the school, and obtain the books and supplies on your own unless one of the following exceptions applies:

  • The school can demonstrate a compelling health and safety reason for obtaining the materials through the institution or its supplier.

  • The school can demonstrate that the materials are not currently available elsewhere or accessible to students via other means.


  • For more information regarding federal student aid contact or visit the following: 1-800-4-FED-AID (1-800-433-3243) toll-free, or 1-800-730-8913 (toll-free TTY for the hearing impaired), a college financial aid office, http://www.studentaid.gov or http://www.studentaid@ed.gov**


TSAC Awards and Scholarships- Tennessee Student Assistance Corporation


Tennessee Student Assistance Awards

The Tennessee Student Assistance Award (TSAA) is a state funded program that includes funding from the Tennessee Education Lottery. This program provides non-repayable financial assistance to financially-needy undergraduate students who are residents of Tennessee. You must be enrolled, accepted and attend at least half-time at a public, or private, college in Tennessee. TSAA Eligibility requirements are to correctly fill out the Free Application for Federal Student Aid (FAFSA) by March 1st (this includes corrections), be a Tennessee Resident and U.S. Citizen, and have an expected family contribution (EFC) of 0 to 2100.

Scholarships from The Tennessee Student Assistance Corporation (TSAC)


  • Tennessee Hope Lottery Scholarship (21 ACT or a 3.0 weighted GPA) (Application is the FAFSA): https://www.tn.gov/collegepays/money-for-college/tn-education-lottery-programs/tennessee-hope-scholarship.html Other scholarships available through the Tennessee Hope Lottery Scholarship Program (application is the FAFSA): https://www.tn.gov/collegepays/financial-aid.html

  • Merit based HOPE Lottery Scholarship General Assembly Merit Scholarship (GAMS): 3.75 unweighted GPA and 29 ACT. ACT score must be from a national or state test date prior taken prior to the first day of college enrollment. ACT residual is not accepted. Award amount – Up to $1,500 supplement to the HOPE Scholarship. The award is divided equally between fall, spring and summer semesters. Awards to part-time students are prorated.

  • Ned McWherter Scholars Program (Separate Application from the FAFSA): The Ned McWherter Scholars Program is intended to encourage academically superior Tennessee high school graduates to attend college in Tennessee. Tennessee high school seniors starting their last semester in high school may apply.The award is $6,000 per academic year, $3,000 from the State of Tennessee and $3,000 from the college or university attended. Awards are made in equal installments each term throughout the academic year. The award may be renewed three times for a total of four years. The recipient must maintain at least a 3.0 cumulative grade point average and attend full-time to remain eligible.

To be eligible, the applicant must:

  • be a resident of Tennessee, a U.S. citizen or permanent resident, and attend an eligible Tennessee college or university full time, and

  • have at least a 3.5 unweighted cumulative grade point average, and

  • have a minimum composite score of 29 on the ACT (or concordant equivalent score on the SAT).

An applicant may receive extra credit for honors or advanced placement courses and leadership in extracurricular activities while in high school.

An application, in order to be considered complete, must be accompanied by:

  • an official high school transcript that contains the applicant’s high school grades through the first semester of the senior year, and

  • an official ACT/SAT score.

  • Student must request their transcript be sent by contacting Mrs. Taylor by email at cassidy.taylor@knoxschools.org and request for transcript to be email to TSAC for Ned McWherter Scholarship

Applications are available in the TSAC Student Portal. Awards are very competitive and are based on limited funding. Renewal applicants are given first priority. TSAC must receive the completed application and required attachments by deadline of February 15, 2021.

Need Based HOPE Lottery Scholarships

  • Hope Aspire Award: Meet Tennessee HOPE Scholarship requirements AND must have parents’ or independent student’s and spouse’s adjusted gross income of $36,000 or less on IRS tax form.

  • Four-Year Institutions: Up to $750 per semester as a supplement to the HOPE Scholarship; including summer

  • Two-Year Institutions: Up to $250 per semester as a supplement to the HOPE Scholarship; including summer

  • HOPE Tennessee Student Assistance Award (TSAA): To be eligible, the applicant must:

  • complete a Free Application for Federal Student Aid (FAFSA), and

  • have a valid Expected Family Contribution (EFC) of $3500 or less, and

  • to receive priority consideration, students are strongly encouraged to submit a Free Application for Federal Student Aid (FAFSA) as soon as possible after October 1 each year.

  • Awards are made until funds are depleted. Award Information:

Four-year/two-year private $4,000

Four-year public $2,000

Two-year public $1,300

Career Schools $2,000

TN College of Applied Technology $1,000

  • HOPE Foster Child Tuition Grant: Students must meet the HOPE general scholarship or HOPE Access Grant requirements. Students who were in the custody of the Department of Children Services for at least one year after 14th birthday. Must maintain satisfactory progress according to the standards and practices used in Title IV programs by which the student is enrolled. Amount varies based on level of unmet need after all financial assistance (exclusing loans and work study) has been applied and not to exceed cost of tuition and mandatory fees. If enrolled at an independent instition not to exceed the statewide average public tuition and mandatory fees for the type of tuition attended.


Important Items to Remember:

  • Students applying for TSAA need to correctly complete the FAFSA by March 1st.

  • A student must select TN in question 18 on the FAFSA for TSAC to receive the information.

  • The TSAA award will be sent to the first TSAA eligible school listed on the FAFSA.