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:
1. Renewal of aid is not automatic. The student must demonstrate satisfactory academic progress and need throughout the undergraduate years.
2. The amount offered in grants, loans, and work-study funds may vary from year to year.
3. All Federal programs are subject each year to the action of the Congress of the United States of America.
4. 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.
5. Please refer to your financial aid award packet for additional information regarding "Conditions of Award".
6. Awards are based on full-time enrollment. In order to meet the “full-time” standard, a student must register for at least 12 hours per semester as an undergraduate student, and at least 6 hours per semester as a graduate student. Students must be enrolled full-time for institutional grants to disburse.
How Do I Apply?
To be considered for financial aid, an applicant should:
1. Complete application procedures by December 1. Students not completing the application process by December 1 will be considered for aid by date of completed application.
2. Apply and be accepted for admission to Belmont University.
3. 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 December 1 priority deadline.
4. All Tennessee residents should complete the FAFSA or Renewal FAFSA to be considered for Tennessee Student Assistance Award and the TELS Award.
MERIT BASED AID
Academic Scholarships
Academic scholarships are awarded to incoming freshmen on the basis of academic excellence and individual achievement. The application for admission to the university serves as the application for merit scholarship. General academic merit scholarships are awarded to freshman applicants on a rolling basis following the offer of admission. December 1 is the application deadline for consideration for Belmont’s most competitive named and departmental scholarships. Notification of named and departmental scholarships will be sent in mid-February. These scholarships 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.
General Freshman Academic Merit Scholarships
General Freshman Academic Merit Scholarships range from $3,000 to $10,000 annually. Admitted freshmen with academic credentials that meet or exceed the University’s freshman class profile are considered competitive candidates for these awards. The freshman class entering fall 2016 had an average ACT composite score of 26 or SAT composite - Critical Reading + Math only - of 1210 (for SATs taken March 2016 and beyond), with a cumulative high school grade point average of 3.6 on a four-point scale.
Presidential Scholarships
The Presidential Scholarship is Belmont's most competitive scholarship, awarded to approximately five incoming freshmen. The scholarship provides full tuition, room, board, books, and fees for four academic years (eight semesters) of continuous study. Traditionally, twelve finalists are invited to personally interview on campus for this award. Selection criteria include a review of academic and leadership accomplishments. Demonstrated financial need may also be considered. Candidates for the Presidential Scholarship will have a minimum composite score of 30 on the ACT or 1390 (Critical Reading + Math only) on the SAT (for SATs taken March 2016 and beyond). Submission of the annual Free Application for Federal Student Aid (FAFSA) is also required.
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.
Ingram Diversity Leadership Scholarships
Four full-tuition scholarships for students with diverse backgrounds from the Nashville area with outstanding academic and leadership records.
Thomas J. Madden Ministerial Scholarship
One full-tuition scholarship for a Christian freshman male majoring in religion and who plans to enter full time ministry.
Faculty Scholarships
Approximately 150 Faculty Scholarship offers of $15,000 annually to the top incoming freshmen who qualified for initial Presidential Scholarship consideration.
Servant Leader Scholarship
One full-tuition scholarship for a Christian freshman female who majors in religion and who plan to enter a church-related career.
Turner Scholarship
$7,500 awards for students from rural high schools with outstanding academic records and demonstrated need.
Glover Accounting Scholarship
Merit-based scholarship for students majoring in accounting who meet academic scholarship criteria.
Glover Business Scholarship
Merit-based scholarship for students majoring in business who meet academic scholarship criteria.
Leadership Scholarships
Approximately 50 Leadership Scholarship offers of $3,000 annually to incoming freshman who demonstrate outstanding leadership abilities through the resume of activities.
Rose Park Scholarships
Half and full tuition scholarships for deserving incoming freshman with demonstrated need who live in proximity to ES Rose Park.
Community Scholarships
Half tuition scholarships awarded every other year for deserving incoming freshman with demonstrated need and above average academic credentials who live in proximity to the Belmont University campus.
PERFORMANCE-BASED AID
Athletic scholarships
Performance-based scholarships based upon athletic ability and level of need of position. Contact the coach of the sport for more information. http://www.belmontbruins.com
Music scholarships
Performance-based scholarships for music majors based upon audition, level of music involvement and academic record. http://www.belmont.edu/music
Art Scholarships
Performance-based scholarships for art majors based upon portfolio, personal interview, and academic record. http://www.belmont.edu/art
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.
INSTITUTIONAL GRANTS
Application forms may be obtained from Belmont Central or on line at www.belmont.edu/sfs
Multi-Student Discount
The multi-student discount assists families with two or more students enrolled at Belmont University. The multi-student discount allows for families to receive a 25% tuition reduction for the second undergraduate of two students attending, or for the second undergraduate student plus any additional undergraduate students attending the University at the same time. This discount is not available in the summer.
Church-Related Vocational Grant
Students who plan to pursue a career in a church-related vocation and/or are currently active in related activities; i.e., pastoral, education, music, youth, or mission ministries are eligible for $500 per semester.
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 the U.S. Department of Education.
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.
Tennessee Education Lottery Scholarship (HOPE) - Awarded to entering freshmen (class of 2016) and returning students who are Tennessee residents and meet eligibility requirements as specified by the Tennessee state legislature. For more details, visit www.tn.gov/collegepays.
Institutional Scholarships
Institutional scholarships are funded by Belmont University. Students must be enrolled full-time (undergraduates: twelve credit hours and graduates: six graduate credit hours) in order to receive institutional funds. Scholarships awarded for an undergraduate program of study cannot be applied toward any graduate program.
Employment Programs
Federal Work-Study Program (FWS) – 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.
Loans
Federal Direct Parent Loan (PLUS) - Credit-based loans for the parents of dependent students. Parents may apply for these loans and, if approved, may use the funds to help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. Repayment generally begins 60 days of final disbursement. The loan amount on the award letter is a recommendation. Note: PLUS loan borrowers cannot have an adverse credit history (credit check will be done). Student must complete FAFSA to receive a Direct Parent PLUS Loan.
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 Direct Subsidized Stafford Loan - For undergraduate students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, and during periods of deferment. Repayment begins following a six-month grace period after you graduate, leave school, or cease being enrolled as at least a half-time student. The student must submit a Direct Master Promissory Note (MPN) and complete online entrance counseling. Undergraduate students must be enrolled at least six hours.
Federal Direct Unsubsidized Stafford Loan - Not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan). Repayment begins following a six-month grace period after you graduate, leave school, or cease being enrolled as at least a half-time student. The student must submit a Direct Master Promissory Note (MPN) and complete online entrance counseling. Undergraduate students must be enrolled at least six hours. Graduate students must be enrolled at least three hours.
Stafford funds must be directly 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
Outside Scholarships, 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.
Satisfactory Academic Progress Standards
In order to receive federal financial aid, students must be making satisfactory academic progress. We are required to apply standards that are both qualitative and quantitative. These standards will apply for periods of enrollment beginning 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 the spring semester of each academic year. In the evaluation process, all grades of “W” (Withdrawn) and “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 including accepted transfer coursework.
Quantitative – Students must average passing 66.67% 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 cumulative 3.0 grade point average on all course work including accepted transfer course work.
Quantitative – Students must average passing 66.67% of all hours attempted.
PHARMACY STUDENTS
Qualitative – Students must be accepted for admission and be eligible to enroll for classes. Students must also achieve and maintain a cumulative 2.3 grade point average on all course work attempted including accepted transfer course work.
Quantitative – Students must average passing 66.67% of all hours attempted.
LAW STUDENTS
Qualitative – Students must be accepted for admission and be eligible to enroll for classes. Students must also achieve and maintain a cumulative 2.5 grade point average on all coursework attempted including accepted transfer coursework.
Quantitative – Students must average passing 66.67% of all hours attempted.
APPEALS
Students failing to meet these standards for satisfactory academic progress may feel that there are mitigating circumstances which contributed to their failure. In such cases, students may choose to appeal for reinstatement of their financial aid eligibility based on these unique circumstances. Students must explain the reasons for not meeting the satisfactory academic progress standards as well as include a plan of action to be reviewed by the committee. An allowable basis for an appeal includes the following:
· Personal illness or injury
· Personal crisis
· Illness or death of a family member
· Original grade was lower than current changed grade
· Second degree, double major, change of major (maximum timeframe only)
· Other unexpected circumstances beyond the control of the student
STEPS TO FILE AN APPEAL
1. Complete the Satisfactory Academic Progress Appeal and Academic Action Plan Form
2. Attach a one-page Explanation Statement and relevant supporting documentation
3. Attach a copy of your complete DegreeWorks Audit. Update, review and print your DegreeWorks Audit and/or Degree Works Planner as required
4. If this is not your first SAP appeal, then you must also attach the DegreeWorks Planner signed by your advisor
5. Submit all documents to the Office of Student Financial Services
Appeals must be submitted in writing and should be addressed to:
SATISFACTORY ACADEMIC PROGRESS APPEALS COMMITTEE
Office of Student Financial Services
Belmont University
1900 Belmont Boulevard
Nashville, TN 37212
Decisions of the committee are final and 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.