A quality college education can be expensive, but many forms of financial aid exist. Whether you receive a Federal grant or a scholarship from the school you are attending, you should take advantage of all financial aid opportunities.
Financial aid is determined by a need analysis, meaning funds are distributed in a fair and equal way to families based on their ability to pay for the costs of attending college. South College understands that all circumstances are different and is dedicated to helping each family find a strategy that works best for them. Explore the different financial aid options below to see if you are eligible!
Forms of Financial Aid
Federal Pell Grant
The Federal Pell Grant provides assistance to eligible undergraduate students who have not earned a bachelor’s or professional degree. This grant is for those in financial need and does not have to be repaid. The amount awarded is dependent on the FAFSA needs analysis process and enrollment status of the student.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG provides assistance to those in need and does not require repayment. The award is only awarded to those with exceptional need.
Federal Teach Grant
The Federal Teach Grant provides up to $4,000 a year to students who intend to, and agree to, teach in a public or private elementary or secondary school that serves students who come from low-income families.
Federal Work-Study Program
The Federal Work-Study Program provides opportunities for students to be part-time employees for the college or work for an off-campus non-profit agency. Financial need, work experience, skills and academic major are considered when placing students into specific programs.
Federal Perkins Loan
The Federal Perkins Loan is awarded to a small number of students with exceptional financial need. The college is the lender for this loan. The loan is made up of government funds and contributions from the college. Interest does not accrue and repayment does not begin until the student is no longer enrolled in the college.
Tennessee HOPE Scholarship
The HOPE scholarship is only available to incoming freshman that are residents of Tennessee. To be eligible, you must receive a 21 or higher on the ACT and maintain a 3.0 during your academic career.
Tennessee Student Assistance Award
The Tennessee Student Assistance Award provides non-repayable financial assistance to Tennessee residents that are considered in need of financial assistance.
Veteran’s Education Benefits
These benefits are for those who have made the ultimate sacrifice and served our country. Veterans can apply for this at the Veterans Affairs website.
Federal Subsidized and Unsubsidized loans
The federal government provides the money for this loan. Subsidized loans don’t have to be repaid until you are finished with college or end enrollment. You must begin paying the interest from the start of an unsubsidized loan.
South College Loan Program
Dependent upon circumstances, we will make loans available to students for the cost of enrollment.
The Tennessee Promise covers tuition and fees that are not covered by other forms of financial aid, including the Pell Grant, the HOPE scholarship and other forms of aid. This scholarship was created to increase the number of students attending college. Recipients of this scholarship will not only have tuition paid for, but they will also receive mentors who will help them through the admission process. Tennessee Promise offers two years of tuition-free community or technical college to eligible Tennessee high school graduates.
South College Promise
The South College Promise is designed to help new applicants pay for the first three quarters of study. This scholarship will be available this upcoming winter semester. The purpose is to keep student loan debt to a minimum. This award is applied to the direct costs of institutional charges for the first three quarters of study for those eligible.
The next step in utilizing South College’s financial aid programs is easy—complete the FAFSA and submit your College Scholarship Service Profile at the College Board website. Additionally, apply for other scholarships through outside clubs or organizations! All it takes is a little research to find a scholarship that applies to you. While college education can be expensive, it is worth the investment in your future. Make it more attainable by utilizing the financial aid available.