Frequently Asked Questions About Financial Aid

FINANCIAL AID & STUDENT CAMPUS EMPLOYMENT

FREQUENTLY ASKED QUESTIONS ABOUT FINANCIAL AID

How do I apply for Financial Aid?

Complete the Free Application for Federal Student Aid (FAFSA) for the appropriate year. The FAFSA Application is available on-line at . Paper FAFSA applications may be requested from the United States Department of Education.

When do I apply for Financial Aid?

You can apply for the upcoming year as early as January 1. If you are beginning enrollment or if you will continuing your enrollment at Tusculum College in the upcoming fall semester, we recommend that you prior to February 1. This will assure that your application will be considered for types of aid that typically become limited or exhausted long before August. Students who are planning to begin in Spring should also strive to complete the FAFSA by the preceding February 1 in order to maximize their aid eligibility.

What is Tusculum College's School Code (code to be used on the FAFSA)?

Tusculum College's school code is 003527.

I have questions about completing my FAFSA. Where do I call?

You can call the Department of Education at 1-800-4FED-AID.

You can also call the Tusculum College Office of Financial Aid at 423-636-7377 or 1-800-729-0256 ext 5377. Office hours are 8:00 a.m. to 5:00 p.m., Monday through Friday. Our office can also be reached via e-mail at . Some resources for completing the FAFSA can also be found on our website at

What happens after I submit my FAFSA?

Soon after submitting a completed FAFSA, you will receive a response called a "Student Aid Report" or "SAR" from the Department of Education's Central Processing System (CPS).

CPS is the agency that receives and analyzes your FAFSA data. You may get this report in paper form, or through email. The SAR contains all the data you listed on your FAFSA and general information about certain forms of federal financial aid that you may be eligible for. Check it carefully for accuracy and keep your SAR in a safe place for your records.

(In most cases, students do not have to submit their SAR to our office. We will receive documentation from the Department of Education if you list our school code on your FAFSA.)

What if the data on my Student Aid Report (SAR) is incorrect?

You can make the corrections on your SAR online at or you can provide documentation about the corrections to our office and we will make the changes for you.

Call us at 423-636-7377 or 1-800-729-0256 ext 5377 for more information.

What does "Verification" mean?

Your SAR and/or school will tell you whether your application has been selected for verification. The Federal Government randomly selects 30% of all applicants for a process called verification. This means that the government requires your school to compare the information from your application with the information found on your Federal tax forms, w-2 forms, and/or other financial documents. This process can also occur if the FAFSA has other incorrect fields.

For more information on verification please click here.

Do I have to be accepted for admission to Tusculum College before I can complete the FAFSA?

No. You should apply for admission according to the Admissions Office time table.

You should apply for financial aid based on the referenced dates listed above and those under the important dates section.

I am a student transferring to Tusculum College. Is there anything special I need to know about financial aid?

If your previous college has already awarded financial aid to you for the semester(s) you plan to attend at Tusculum College, please contact your college and ask the financial aid office to cancel that aid.

If you filed a FAFSA for the year you are enrolling, and did not list Tusculum College, go online to or call 1-800-4FEDAID to add Tusculum College to your list of schools.

When will I hear about my financial aid?

Incoming freshmen in the Traditional College Program with completed financial aid applications will begin to receive award packages in early February (prior to the fall semester in which they anticipate enrolling). Current enrolled students in the Traditional College Program begin to receive award packages in May, after spring semester grades are processed.

Incoming Graduate and Professional Studies students with completed financial aid applications will receive award packages within 1-2 weeks after their registration. Continuing Graduate and Professional Studies students will receive award packages for upcoming terms for which they are registered, no later than 30 days prior to the start of the next term.

How do I know how much financial aid I will receive?

You will receive an award package detailing the amounts and types of financial aid for which you qualify.

How does Tusculum determine how much financial aid I will receive?

The basic financial aid eligibility formula is "Cost of Attendance" (COA) minus "Expected Family Contribution" (EFC) equals "Need." The maximum financial aid you can receive from all sources cannot exceed the COA for Tusculum College.

What is included in the financial aid "Cost of Attendance" (COA)?

Components of the COA include tuition, fees, room, board (meals), books and supplies, transportation, and miscellaneous personal expenses related to your education.

How is my "Expected Family Contribution" (EFC) determined?

The data on your FAFSA determines your EFC. You and your parents' taxable income from work (or if you are married, you and your spouse's taxable income from work), untaxed income and benefits, assets (savings, other real estate and investments, business, farm, etc.), family size and the number of family members (excluding your parent) attending a postsecondary educational institution and the age of your older parent (dependent students only) have an impact on your EFC.

In what order does Tusculum College award financial aid?

Our policy is - typically - to award grants and scholarships first, followed by student loans, possible work opportunities, need based aid, and additional loans.

How do I find out more details about federal student financial aid programs?

Visit our website at .
Follow the "Other Links" to The Student Guide.

This publication describes all federal student financial aid programs.

What academic standards do I have to meet to receive my student financial aid?

Federal regulations require that students receiving financial aid must be making satisfactory progress toward a degree and comply with all federal, state, and institutional policies and standards applying to financial aid programs.

To insure that recipients of federal, state, and/or institutional funds make qualitative and quantitative academic progress, Tusculum College has set forth
a Satisfactory Academic Progress (SAP) Policy.

This SAP Policy is on-line and is enclosed each year in the Financial Aid Award Package that is sent to each student.

Are there other forms I have to complete to borrow a Federal Stafford Loan?

Yes. The first time you borrow a Federal Stafford Loan, you must complete
a Master Promissory Note (MPN).

The MPN can be completed online by going to and choosing to apply for a subsidized/unsubsidized Stafford Loan. You will need to have a valid Federal Student Aid PIN in order to log in to the website.

Is there anything else I need to do before I receive my Federal Stafford Loan funds?

Yes. The first time you borrow a Federal Stafford loan at Tusculum College, you must complete entrance loan counseling.

This counseling provides information about the loan program and your obligation as a borrower. Tusculum College asks that you complete this counseling on-line at

Select the option to “Complete Entrance Loan Counseling.”

How much can I borrow in the Federal Perkins Loan?

Your financial aid award letter shows the maximum amount of Perkins loan that you are eligible to borrow for the upcoming school year. This amount depends on when you apply, your level of need, and the funding level of the school. Borrower maximums are:

$4,000 for each year of undergraduate study (the total amount you can borrow as an undergraduate student is $20,000).
$6,000 for each year of graduate study (the total amount you can borrow as a graduate student is $40,000, including any Federal Perkins Loans you borrowed as an undergraduate).

Are there other forms I have to complete to borrow a Federal Perkins Loan?

Yes, you must complete a different MPN and entrance loan counseling for the Perkins Loan.

To fulfill the requirement of PERKINS ENTRANCE LOAN COUNSELING, please go to . You will only need to complete this once during your career at Tusculum College. An electronic copy will be submitted to our office.

To complete a PERKINS MASTER PROMISSORY NOTE (MPN), please go to . You will only need to complete this form once during your career at Tusculum College.

Simply print the application, complete, sign, and return to the Office of Financial Aid, Tusculum College, P. O. Box 5049, Greeneville, TN 37743.

How does my parent borrow a Federal Parent Loan?

A parent can apply for a Federal Direct Parent Plus Loan at Please remember that in order to apply for the PLUS, the parent will need to log into the website using their personal identifying information and Federal Student Aid PIN, not the students. As you complete the application, you will be given the option to borrow the maximum amount allowed by the school or a specific amount. Please remember that the Parent applying for the PLUS must complete both the Credit Check and the Master Promissory Note portion of the application.

If I am employed through the Work Study program, how often will I get paid?

Student employees are paid once a month. Students pick up pay checks at the Tusculum College Business Office.

More information is available in the on-line Work Study Manual.

If I receive scholarships from agencies outside of Tusculum College, what happens to my other financial aid?

If you have been awarded financial aid and then receive a scholarship, we may have to reduce some or all of your federal student financial aid, student loans, need based aid, or the work-study award.

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TUSCULUM COLLEGE
1-800-729-0256 • 423-636-7300
60 Shiloh Road, Greeneville, Tennessee 37743