When to Apply
Aid Programs
General Information
National Student Exchange
Financial Aid Forms
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How to Apply
When to Apply Aid Programs General Information |
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National Student Exchange Financial Aid Forms |
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| Once financial aid eligibility is determined, the Financial Aid Office offers students a Financial Aid Package - a possible combination of grants, loans, scholarships, and employment - to meet as much of the student's need as possible. Enrolled hours, residency classification, cumulative grade point average, and other financial assistance already received will affect the amount and type of financial aid students can receive to meet their financial need. |
Grants |
Loans |
Work Programs |
State Programs |
Scholarships |
Alternative Loans |
| Grants |
A non-repayable, federally funded program for undergraduate students pursuing a first Bachelor's degree. Awards vary in amount each year and are based on financial need and hours of enrollment. Students receiving full-time Pell Grant awards for the fall and spring semesters have no remaining Pell award for the summer.
A non-repayable, federally funded, university based program for undergraduate students pursuing a first Bachelor's degree. Awards are made to early applicants who demonstrate the most financial need and have the lowest Expected Family Contribution (EFC) on the Student Aid Report.
A non-repayable state grant program available to undergraduate Tennessee residents pursuing a first Bachelor's degree. This award is contingent upon Pell Grant eligibility, state funding and early submission of the FAFSA.To receive priority award consideration, mail a FAFSA to the central processing agency by March 1, 2007 (for the 2007-2008 year - i.e. fall 2007, spring 2008). A separate letter will be mailed from the state agency regarding program eligibility.
Click here to visit the TSAA website.
| Loans |
A low (variable) interest loan available to degree seeking students enrolled at least half-time (i.e. 5 graduate credit hours or 6 law or 6 undergraduate credit hours), based on financial need. The interest is paid by the government while the students are attending school. Repayment of principal and interest begins 6 months after enrollment ceases to be at least half-time.
A low (variable) interest loan available to degree seeking students enrolled at least half-time, not based on financial need. Eligibility for the subsidized loan must be determined before an unsubsidized loan can be considered. Interest will be charged from the time the loan is disbursed until it is paid in full. The interest can be paid while the student is still in school. Repayment of principal and interest begins 6 months after enrollment ceases to be at least half-time.
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* NOTE: The amounts given above are the maximum yearly amounts you can borrow in both subsidized and unsubsidized loans, singly or in combination. However, you cannot borrow more than your cost of attendance minus other aid for which you are eligible. This means you may receive less than the annual maximum amounts.
This program allows the parent with a good credit history to borrow to pay the cost of education for a dependent undergraduate student enrolled at least half-time. The yearly limit is equal to the student's cost of attendance minus any other financial assistance expected or received. The interest rate is adjusted each year on July 1, but will never exceed 9 percent. There is no grace period for these loans. Interest begins to accumulate at the time the first disbursement is made. Repayment of both principal and interest will begin, generally, within 60 days after the initial loan disbursement has been made.An institutional PLUS request form is available upon request from the Student Aid Office.
A low-interest loan for degree seeking students with exceptional financial need. This program is federally funded and administered by the university. Priority is given to early applicants with a 2.5 cumulative grade point average (GPA). Repayment begins 9 months after enrollment ceases to be at least half-time.
| Work Programs |
A federally funded, need based, university administered employment program available to students who are enrolled at least half-time. Students are employed on campus for approximately 20 hours each week (not to exceed 37.5 hours per week) and are paid bi-weekly (minimum wage or higher). Placement based on job skills and availability.For more information you may view the STUDENT EMPLOYMENT-General Information web site.
A university monitored program, which offers on-campus jobs to students who do not qualify for Federal Work Study. Students are usually paid bi-weekly (minimum wage or higher). The availability of jobs depends on student skills and the needs and funding considerations for campus departments.For more information you may view the STUDENT EMPLOYMENT-General Information web site.
A university monitored program, which offers on-campus jobs to international students (Regular Student Employment only). According to the Immigration and Naturalization Service (INS), students on F-1 visas who are pursuing at least a full-time course of study may engage in on-campus employment, but not to exceed 20 hours per week (during the academic year), which includes all pay sources. Students on F-1 visas may be employed on-campus full-time during school breaks, including fall break, spring break and the summer semester, but not to exceed 40 hours a week, which includes all pay sources.For more information you may view the STUDENT EMPLOYMENT-General Information web site.
| State Programs |
See GRANTS above for more information.
For more information on any of the state programs, contact:
| Scholarships |
The University of Memphis offers several hundred scholarships each academic year in varying amounts depending on the particular guidelines for the scholarship and the academic credentials of the student.
NOTE: The Scholarship Office handles UNDERGRADUATE PROGRAMS ONLY. For more information on deadlines and any other questions you may have, contact the
Scholarship Office directly at (901) 678-3213.
For more information on Academic Scholarship Programs, visit the Scholarships
Office List of Scholarships.
For more information on GRADUATE scholarships, contact the GRADUATE SCHOOL at 308 Administration Building, Memphis, TN 38152 or call (901) 678-2531.
For more information regarding LAW scholarships, contact the Cecil C. Humphreys School of Law, Memphis, TN 38152 or call (901) 678-5403.
IMPORTANT NOTICE
The Federal Tax Reform Act of 1986 significantly changed the tax status of
scholarships, fellowships, and grants you receive from the university. Prior
to the Act, they were generally not subject to income tax. Since then scholarship,
fellowship, and grant amounts exceeding tuition, fees, and course-related
books, supplies, and equipment have become taxable.
The University of Memphis awards hundreds of academic scholarships each year to entering freshmen. All scholarships are awarded for the academic year (Fall and Spring semesters). Scholarships are awarded based on information submitted on the University of Memphis admissions application. A separate scholarship application is not required unless noted. The deadline for admission to The University of Memphis for scholarship consideration is March 1.
All University of Memphis scholarship program awards are based on a combination of ACT/SAT scores and cumulative high school grade point average. These scholarships are four year, renewable scholarships requiring full time enrollment. Early application to The University of Memphis is strongly encouraged as scholarship awards are limited. Students eligible for the State of Tennessee HOPE Scholarship Program (Lottery Scholarship) must apply for the scholarship and complete the Free Application for Student Aid (FAFSA) as specified by the Tennessee Student Assistance Corporation (TSAC). For more details regarding the Tennessee HOPE Scholarship Program, please go to the TSAC web site at http://www.tnscholardolalrs.org/faqs.htm
| Departmental Scholarship Awards |
You may check with the department of your major to see if they offer any scholarships. A complete listing of all university scholarships (many administered by academic departments) can be found in the Bulletin of The University of Memphis (Undergraduate Issue).
| Other Scholarships |
Many foundations, corporations, and service organizations provide funds for scholarships or tuition assistance. Students generally apply directly to the potential donor, and usually there is a direct relationship between the student and the sponsoring organization.
| Important Information Regarding Other Sources of Financial Assistance for Fees |
Financial assistance received from other sources includes vocational rehabilitation benefits, veteran's benefits, outside scholarships, employee fee waivers, teacher/child tuition discounts, graduate assistant fee waivers and any other assistance. All outside aid amounts must be considered in determining total aid eligibility.
| Alternative Loans |
Private loans for students (and their parents) who do not show financial aid eligibility for other types of financial aid, or who need additional funds to meet educational expenses.
Many of these alternative loan programs also look at what financial aid you are already receiving for that particular period. Other financial aid assistance is deducted from the cost of attendance (as determined by the institution) before aid eligibility is determined for other programs.
The following link includes the names of the loans, who qualifies, for how much, what interest rates apply, and the repayment plan. Most private alternative loans require a credit check.
Partial list of Alternative Loans
NOTE: Our office does NOT endorse any particular program. This information is only provided for your convenience and can change without notice. You should request current information directly from the lender or company offering the program.
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General Information |
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Student
Financial Aid Office
103 Wilder Tower The University of Memphis Memphis, TN 38152 |
Phone
(901) 678-4825
Fax (901) 678-3590 |