Frequently Asked Questions
Q: What is UTC's Federal School Code?
A: UTC's federal school code for Title IV aid purposes is 003529.
Q: What are the Financial Aid Office hours?
A: Monday - Friday - 8 am to 5 pm
One week prior to the beginning of the Fall and Spring Semesters and during the first week of classes: Monday-Thursday- 8 am to 6 pm and Friday – 8 am to 5 pm
Q: How do I access MyMocsNet?
Q: How much can I borrow in Direct Stafford loans?
A: Click here to review the Direct Stafford Loan page.
Q: How do I contact my lender?
A: As of Summer 2010, the Department of Education is the lender for all Direct Student Loans. They can be contacted at 1-800-848-0979 or www.sudentloans.gov. If you have a loan or loans that were received before Summer 2010, you may log in to www.NSLDS.ed.gov to see your student loan history as well as your servicer and lender information.
Q: Why is it taking so long to receive my financial aid award?
A: The standard financial aid processing time for our office is 4-6 weeks from the time a file is complete and 8-12 weeks during peak processing times. In many cases, all that is required for your financial aid application is the FAFSA. However, if your file is selected for verification, additional documents may be requested by the Financial Aid Office. Check your MyMocsNet account to see your requirements. Guide to Accessing Your Financial Aid on MyMocsNet.
Q: What if I need more financial aid than is listed on my award letter?
A: Visit www.utc.edu/Scholarships. There are both institutional and outside scholarships available. If additional aid is still needed, credit-based loans are available to qualified students. PLUS Loans are credit-based federal loans borrowed in the parent's name for dependent undergraduate students. Graduate PLUS loans are also available for graduate students. Students must be enrolled at least half time and must be maintaining Satisfactory Academic Progress. Credit based Private Loans are also available for both dependent or independent students. Information about PLUS and Private Loan options is available at www.utc.edu/FinancialAid.
Q: What is verification?
A: The verification process requires UTC to collect documentation of taxable income, in addition to other documents. We can no longer accept a copy of your tax statement if selected for verification. A Tax Return Transcript is required to verify income. We encourage you to document tax information using the IRS Data Retrieval. To use the IRS Data Retrieval, access your FAFSA application at www.fafsa.gov, click on "Make FAFSA Corrections"; then, select IRS Data Retrieval, or you may request a tax return transcript at www.irs.gov. Electronically filed tax return information should be available for retrieval from the IRS one to two weeks after tax filing; paper tax return information should be available six to eight weeks after filing. Note: Married applicants must file jointly in order to use the IRS Data Retrieval; it also cannot be used when marital status changes after the end of the tax year or if an amended tax return has been filed. This is a free process and no one should charge you to complete the FAFSA or make corrections. If you are requesting a tax transcript, you can expect to receive your IRS Tax Return Transcript within 5-10 days.
Q: Where is my student loan?
A: First, make sure that you have accepted your loan on your MyMocsNet account. Accepted loans are transmitted electronically to the Department of Education weekly. First time UTC borrowers must complete a Master Promissory Note and Entrance Loan Counseling. PLUS and Private loans are certified weekly by UTC once we receive the notice of approval. If a PLUS Loan has been approved, your parent must also complete a Parent PLUS Information Form and submit it to the Financial Aid Office. If a Private loan has been approved, you must complete a Private Loan Request Form and submit it to the Financial Aid Office. Once the Financial Aid Office receives the check(s), please allow 48-72 hours for internal processing. Private loan checks may need to be endorsed by the student in the Bursar's Office. You must still be enrolled at least half-time (six credit hours) at the time the funds are received.
Q: How do I talk to a financial aid counselor?
A: Every student, regardless of Admissions status, has access to a financial aid counselor.
All financial aid inquiries should be emailed to email@example.com. You should receive a response to your e-mail or phone message within 48 hours of the initial request. We also have on-call counselors available daily to help with any of your questions or concerns if you call the office at 423-425-4677 or come by the office. The Financial Aid Office is located in the University Center Room 201.
Q: All I have are Stafford and/or Parent PLUS loans; why can't I receive them when I am not making Satisfactory Academic Progress?
A: Contrary to popular belief, Stafford loans and Parent PLUS loans (although they are in the parent's name) ARE financial aid and their funding is provided for by the federal government. Aid provided by the federal government falls into the category of “Title IV aid” and these funds are subject to the rules and regulations of an individual school's Satisfactory Academic Progress policy.
Q: I have never applied for financial aid at UTC, but I have a Financial Aid Satisfactory Academic Progress hold. How is this possible?
A: All students at UTC are subject to the Financial Aid Satisfactory Academic Progress policy set forth by our office. We must hold all students equally accountable, in the chance that they may apply for financial aid at some point of their academic career at UTC. This hold does not prevent you from registering or attending classes. Please note that UTC's Satisfactory Academic Progress policy may differ from other higher education institutions.
Q: Should I ask my academic advisor about HOPE Scholarship regulations?
A: If you have questions regarding your HOPE Scholarship, please contact the Financial Aid Office. The rules and regulations change frequently, and although your advisor may have your best interest in mind academically, they may not be aware of rules regarding dropped hours, required GPA's, and checkpoints. Anyone in the Financial Aid Office can answer your general HOPE Scholarship questions.
Q: My parents do not claim me on their taxes; why am I still considered a dependent?
A: For state and federal financial aid purposes, a student is only considered independent if one or more of the following are true: you are 24 years old; you are enrolled in a graduate degree program; you are married; you have children or other dependents who receive more than half of their support from you; both of your parents are deceased; you are (or were until age 18) a ward/dependent of the court; or you are a veteran of the U.S. Armed Forces. If none of these statements apply to you, you must provide parent information on your FAFSA and other financial aid documents. Extenuating circumstances may be reviewed by a UTC Financial Aid counselor on a case by case basis. If you have extenuating circumstances and are unable to provide parent data, please contact the Financial Aid Office.
Q: What happens if I receive financial aid and drop a class or withdraw from school.
A: Financial aid may be prorated if you drop some classes and your enrollment status changes. If you have picked up a refund, you may owe money back. If you totally withdraw from all classes, at any time during the semester, you may also owe money back. Always speak with a financial aid representative before making any changes to your enrollment
Q: Can I get financial aid for the summer term(s)?
A: UTC offers summer financial aid pending a review of each student's eligibility. Students will be notified via the MyMocsNet account of summer aid eligibility approximately two weeks after registration. No summer aid application is required. Students must enroll at least half time for summer semester to receive a student loan or the HOPE Scholarship. Beginning summer 2012, HOPE Scholarship recipients who first received the scholarship Fall 2009 are now eligible to receive up to $2000 during the summer if enrolled full time. The award amount will be prorated if student enrolls less than full time.)
Q: I applied for financial aid and scholarships last year. Do I need to do anything for the new academic year?
A: Please check the terms of your scholarship for renewal criteria every academic year. You must be an admitted student with a UTC ID to apply for Institutional, Endowed, and Departmental Scholarships. Entering first time Freshman, Transfer, and Continuing students may visit www.utc.edu/Scholarships for instructions on how to apply and search for scholarships.