Outside Grants and Scholarships
Outside Grants and Scholarships
Policy
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Document Number: SFS--118 Revision #: 1.0
Document Owner: Executive VP Date Last Updated: 08/17/2012
Primary Author: Executive Director of Enrollment Services Status: Approved
Date Originally Created: 11/30/2011
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General Description
Description: Information about outside grants and scholarships relative to student financial aid.
Purpose: Delineation of policy.
Scope: Students
Responsibility: Student Financial Services
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Requirements
Relevant Knowledge: In order to comply with this policy you should know:
Current University policy
Federal statutes
Local statutes
Standard company policies
Standards of good practice
State statutes
Terms and Definitions: Additional training
Corrective Action
Loss of privilege, general
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Policy Provisions
1. Outside Grants and Scholarships
Grants are awarded on the basis of financial need and/or talent and generally do not require repayment unless an over-award has occurred or incorrect information has been provided. A scholarship is a form of financial aid given to students to help pay for their education. Scholarships are a form of gift aid and do not have to be repaid.
1.1 The Federal Pell Grant Program
The Federal Pell Grant Program is the largest Federal student aid program. The purpose of the program is to ensure that all eligible students have at least a portion of the necessary money to meet college expenses. The amount of each Federal Pell Grant depends on the student's financial need, the cost of education, and the enrollment status of the student.
1.2 Federal Supplemental Education Opportunity Grant (FSEOG)
Federal Supplemental Education Opportunity Grant (FSEOG) is an award to help undergraduates pay for their education. The amount that a student receives depends upon financial need, the amount of money the school has for the program, and the amount of aid the student receives from other programs. Federal Pell Grant recipients receive priority in FSEOG awards.
1.3 Tennessee Student Assistance Award (TSAA)
Tennessee Student Assistance Award (TSAA) is a need-based grant provided by the State of Tennessee. Any Tennessee resident who is or will be enrolled as an undergraduate is eligible to apply by filing the Free Application For Federal Student Aid (FAFSA). The amount of the award depends upon financial need, the cost of education, and the actual amount of time the student will be enrolled during the year. Students are encouraged to apply early.
1.4 Tennessee Education Lottery Scholarship or Hope Scholarship
Tennessee Education Lottery Scholarship or Hope Scholarship is awarded by the Tennessee Student Assistance Corporation (TSAC) to Tennessee residents who are recent high school graduates who meet minimum GPA and ACT/SAT score requirements. For eligibility requirements, the specific types of Lottery Scholarships, award amounts, GPA and ACT/SAT score requirements, please refer to the information available from TSAC at http://www.tn.gov/CollegePays.
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Performance Evaluation
Performance Metrics: Compliance with standard policy and procedure
Compliance with federal mandate
Consequences: Further training
Loss of privileges
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Subject Experts
The following may be consulted for additional information.
Executive Director of Enrollment Services
VP for Advancement
VP of Business and Finance