Financial Aid Programs
The purpose of financial aid at Belmont University is to provide assistance to students who need help in meeting the cost of education. Belmont believes that the primary responsibility for providing educational expenses rests with the student and parents. Financial Aid should assist in providing the difference between the expected family contribution and the cost of education or the student’s financial need. (Cost of education minus expected family contribution equals estimated financial need.) All resources other than family contributions are considered financial aid.
Remember:
- Renewal of aid is not automatic. The student must demonstrate satisfactory academic progress throughout the undergraduate years.
- The amount offered in grants, loans, and work-study funds may vary from year to year.
- All Federal programs are subject each year to the action of the Congress of the United States of America.
- All financial aid is awarded to students without regard to race, sex, or age. The majority of aid is provided on the basis of financial need. Financial assistance granted is to be used only for legitimate educational purposes.
- Please refer to your financial aid award packet for additional information regarding "Conditions of Award".
How Do I Apply?
To be considered for financial aid, an applicant should:
- Complete application procedures by March 1. Students not completing the application process by March 1 will be considered for aid by date of completed application.
- Apply and be accepted for admission to Belmont University.
- Submit the Free Application for Federal Student Aid (FAFSA) or the Renewal FAFSA (for previous Federal Aid applicants) and request that Belmont University receive a copy of the analysis. The FAFSA requires approximately six weeks for processing and should be filed much earlier than the March 1 priority deadline.
- All Tennessee residents should complete the FAFSA or Renewal FAFSA to be considered for Tennessee Student Assistance Award and the TELS Award..
Types of Financial Aid Available
Merit Based Aid
Academic Scholarships - Academic scholarships are awarded for academic excellence and achievement. To be considered, the student must complete the application for admission by December 1. These scholarships are awarded to incoming freshmen and are renewable for a specific period, provided the student maintains the necessary grade-point average. The scholarships are competitive and are awarded through a selective process by the Office of Admissions. Factors considered include top 10% class rank, 3.5 core and cumulative grade point average, strong college preparatory curriculum, SAT/ACT scores of 28 or above, 1260, or above (Composite score of Critical Reading and Math), respectively and significant academic and individual achievements. The value of the scholarship ranges from $2,000 to $10,000 per year.
Presidential Scholarships – This is Belmont’s highest effort to attract academically gifted, well-rounded students. Each year the President names five incoming freshmen to receive Presidential Scholarships. Each recipient will receive a full scholarship (less outside scholarships and grants) for eight semesters at Belmont, including tuition, room, board, books and fees. Consideration criteria include a minimum test score of 1320 SAT (composite score of Critical Reading and Math) or 29 ACT, unweighted core and cumulative high school gpa of 3.5, top 10% class rank and significant individual achievement.
William Randolph Hearst Endowed Scholarship Program – One scholarship covering full tuition, room, board, books, and fees for a student from a diverse background with outstanding academic and leadership records.Thomas J. Madden Ministerial Scholarship - One full-tuition scholarship for a Baptist freshman man majoring in religion and who plans to enter fulltime ministry.
Turner Scholarship – A scholarship covering $7,500 annually for full-time students from rural high schools with outstanding academic records and demonstrated need.
Glover Accounting Scholarship – A merit-based scholarship for students majoring in accounting who meet academic scholarship criteria.
Glover Business Scholarship – A merit-based scholarship for students majoring in business who meet academic scholarship criteria.
Ingram Diversity Leadership Program – Four full-tuition scholarships for students with diverse backgrounds from the Nashville area with outstanding academic and leadership records.
Servant Leader Scholarship - One full-tuition scholarship for a Baptist freshman woman who majors in religion and who plans to enter a church-related career.
Tennessee Education Lottery Scholarship - The primary award is the Tennessee HOPE Scholarship, which is offered to qualifying students entering an approved Tennessee college or university according to guidelines established by the Tennessee Student Assistance Corportation.
Note: According to Belmont's policy, in rare instances there are some scholarships which can not be used in conjunction with another scholarship and produce a refund, therefore the amount of the scholarship will be reduced. Further information can be obtained by contacting the office of Student Financial Services.
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Grants (Institutional)
Athletic Grants-in-Aid – A grant program for those participating in athletics. Students must contact the Athletic Director or the coach of the sport in which they are interested.
Tuition Discount Grants – Dependent students of full-time employees of entities of the Southern Baptist Convention and the Tennessee Baptist Convention will be given a discount of $250 per semester. This discount is not available in the summer.
If two or more students from the same family are attending Belmont, a two-student discount of $100 per semester per student will be given. This discount is not available in the summer.
Application forms may be obtained from Belmont Central or on line at www.belmont.edu/sfs.. Students need to complete and return the forms to Belmont Central to receive these grants.
Church-Related Vocational Grants – Students must be members of a Tennessee Baptist Convention church and must be studying for a church-related vocation; i.e., pastoral, education, music, youth, or mission ministries. Application forms may be obtained from Belmont Central on line at www.belmont.edu/sfs or the School of Religion office. These forms must be returned to the Office of Student Financial Services before the close of registration each semester. Students must abide by Belmont University's Satisfactory Academic Progress Policy to receive additional funding. A copy of the policy may be obtained from the Office of Student Financial Services. Students must agree to represent Belmont University in a church on Baptist College and Seminary Day. This discount is not available in the summer.
Church-University Matching Grant – The university will match up to $250 per semester for a full-time student whose church (affliliated with the Tennessee Baptist convention) has given him/her support. Application forms may be obtained from Belmont Central or on line at www.belmont.edu/sfs. Students need to complete and return the form to Belmont Central, along with the church donation, in order to receive a matching grant. This discount is not available in the summer.
Need-Based Aid
Grants (Governmental)
Federal PELL Grants – A direct grant from the Federal Government based on financial need as determined by the FAFSA. The recipient must be a U.S. Citizen, or in the U.S. for other than temporary purposes. The recipient must maintain satisfactory academic progress. The maximum grant is determined each year by legislation.
Federal Supplemental Educational Opportunity Grants (FSEOG) – A federal grant administered by Belmont University and based on financial need and availability of funds.
Tennessee Student Assistance Award (TSAA) – A direct grant from the State of Tennessee, for undergraduate Tennessee residents. All awards are based on financial need and availability of funds.
Employment Programs
Federal Work-Study Program (FWSP) – A federal program administered by Belmont whereby students may work up to 20 hours per week. The number of hours per week is based on financial need and monies available.
A student may remain employed only as long as they do satisfactory work and their academic record warrants it. A student may not work more than 20 hours per week.
Off-Campus Employment – The Career Services Office will assist students in locating community work opportunities.
Loans
Federal Parent Loan (PLUS) – A federal loan program for parents of undergraduate dependent students with no income restrictions. This is a credit-based loan with a variable interest rate.
Federal Perkins Loan Fund – A federal loan program administered by Belmont University whereby needy students may borrow long-term, low-interest (5%) loans. Interest and repayment are deferred from six to nine months after the student leaves school. All Federal Perkins Loan recipients must participate in an exit interview if they do not plan to return to Belmont the following academic year.
Federal Stafford Loan and Unsubsidized Federal Stafford Loan – A Federal loan program for students enrolled at least half-time. Maximum annual loan amounts are determined by a student's class level. The FAFSA must be filed each year.
Stafford checks and Electronic Fund Transfers (EFT) must be applied to student's account. Should the application of the check or EFT result in an overpayment of the account, the credit balance will be refunded according to the refund policy. All Stafford Loan recipients must participate in an exit interview if they do not plan to return to or graduate from Belmont.
Other Aid Programs
Social Security, Veterans Administration and Vocational Rehabilitation are other sources of financial assistance. All funds received by these agencies must be reported to the Office of Student Financial Services. For further information regarding these programs, contact the appropriate agency.
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Financial Aid Satisfactory Progress Standard
In order to receive federal financial aid, students must be making satisfactory academic progress. The university is required to apply standards that are both qualitative and quantitative. These standards apply for periods of enrollment which began on or after August 1, 1998.
Eligibility for federal programs will be evaluated as part of the initial application process and again at the end of each academic year. In the evaluation process, all grades of “W” (withdrawn) or “I” (incomplete) will be counted as hours attempted but not passed. Repeated courses will count as hours attempted. Entering students are considered to be making satisfactory academic progress.
Students cannot receive aid after attempting 150% of the hours required for completion of their academic program. Hours accepted for transfer credit will reduce this time frame.
Undergraduate Students
Qualitative - Students must be accepted for admission and be eligible to enroll for classes. Students must also achieve and maintain a cumulative 2.0 grade point average on all course work attempted at Belmont.
Quantitative - Students must average passing 75% of all hours attempted.
Graduate Students
Qualitative - Students must be accepted for admission and be eligible to enroll for classes. In addition, students must achieve and maintain a 3.0 cumulative grade point average on all course work attempted at Belmont.
Quantitative - Students must average passing 75% of all hours attempted.
Appeals
Students failing to meet these standards for satisfactory academic progress may feel that there are mitigating circumstances that contributed to their failure. In such cases, students may choose to appeal for reinstatement of their financial aid eligibility based on these unique circumstances.
Appeals must be submitted in writing and should be addressed to the
Appeals Committee
Office of Student Financial Services
Belmont University
1900 Belmont Boulevard
Nashville, TN 37212-3757
Decisions of the committee will be communicated in writing.
Withdrawal and Return of Federal Title IV Funds
When a student who received federal Title IV financial aid withdraws from the university, the unearned portion of these awards must be returned to federal Title IV financial aid programs. Federal Title IV financial aid includes the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), the Federal Perkins Loan, the Federal Stafford Loan, and the Federal Parent Loan for Undergraduate Students (PLUS).
In order to determine the unearned portion of federal financial aid, first subtract the number of days remaining in the academic term after the withdrawal date (federal regulations define the withdrawal date as the date on which the student initiates the withdrawal process) from the total number of days in the academic term. The remainder is divided by the total number of days in the academic term. The resulting percentage is applied to the total of federal Title IV federal aid awarded to the student for the term in order to determine unearned Title IV aid.
The federal government has prescribed the order in which unearned aid is returned to federal Title IV programs. The responsibility for the return of unearned federal Title IV financial aid is shared by the student and the university.
Students and parents should note that the requirement to return federal Title IV funds may result in a balance due to Belmont University subsequent to withdrawal.