F INANCIAL A ID & S CHOLARSHIPS

Checklist  Complete the Free Application for Federal Student Aid (FAFSA) by February 1 each year  Check on the status of any outstanding requirements for financial aid through Banner Self-Service If you have questions about an outstanding requirement contact us.  Submit requested forms (Forms can be found in Banner Self-Service or on Requirements

View & Accept Awards  The student can access his/her financial aid awards through Banner Self-Service under the Financial Aid Tab.  Follow the steps to accept award by aid year.  Click the tab to accept award offer, and follow the directions.  If awarded work study you must apply and be hired for a job before you will receive any of these funds.

Student Employment  Federal Work Study—Federal Funds This type of employment is offered in your Financial Aid awards  Student Employment—University Funds This type of employment is not offered in your awards Both types of employment allow you to work on campus. All openings can be found at after Aug 1.

 Must be paid back.  Only accept loans if you really need them.  Two disbursements  First-time Freshmen – 30 day disbursement delay.  You may accept all or part of the offered Federal Stafford Loan.  You may decline your loan(s) or leave as “offered.”  To complete the loan process, the following additional steps need to be completed: 1. Master Promissory Note 2. Entrance Loan Counseling Both can be done at Loans

Subsidized loans are offered based on need.  Student NOT responsible for interest until 6 months after the student graduates or drops below ½ time enrollment.  The federal government is paying the interest for the student.  The government limits this subsidy and student eligibility for a period not to exceed 150% of the length of the borrower’s program. For most bachelor degrees, that is equivalent to 6 years.  Repayment begins 6 months after the student graduates or drops below half-time enrollment. Unsubsidized loans are not based on need.  Student IS responsible for all interest while in school.  The federal government is not paying (subsidizing) the interest. It is accruing.  We recommend paying on the interest that is accruing while you are in school, although you may choose to defer it.  Repayment begins 6 months after the student graduates or drops below half-time enrollment. Stafford Loans: Subsidized vs. Unsubsidized

 To use financial aid to pay your bill, follow the steps in Banner Self-Service or the directions in your billing statement.  If financial aid does not cover all charges, the difference will need to be paid or a payment plan set up with the Bursar’s Office before classes begin. PAY WITH YOUR AID

 Read, sign and return the TLS Policies & Procedures Acknowledgement Form.  Be enrolled at least 6 hours per semester. Part-time enrollment will be prorated.  Maintain satisfactory academic progress AND continuous enrollment.  Have a 2.75 Lottery GPA after the first 24 credit attempted hours (1 st Benchmark)  NEVER drop a class after classes begin without talking to your Financial Aid Office first. Tennessee Lottery Scholarship

Other Items  Fee Waivers  Outside Scholarships  Attend Class  Maintain Satisfactory Academic Progress (SAP)

Visit the Financial Aid Home page to:  Check out the Parent Lifeline  Get familiar with policies and procedures such as Class Attendance and Satisfactory Academic Progress  Find scholarship opportunities on the UT Martin Scholarship Aviator  Access useful financial aid resources Federal Student Aid Information For Tennessee Lottery Information Be informed!

Financial Aid Office Contact us at: 205 Administration Building Office Hours 8:00 am – 5:00 pm Monday – Friday Phone: Fax: