Eligibility for Continuation of Financial Assistance
As a general rule, students are eligible to continue on financial assistance at UTC if they meet UTC continuation standards (page 25), do not abuse their right to receive financial assistance and make satisfactory progress in their program of study. A separate continuation scale for Provost's, Chancellor's and Dean's scholarships is published each year.
Students are suspended from financial assistance immediately in any term that they make no academic progress or are academically suspended or dismissed. Students who are enrolled full time must earn at least 20 hours per academic year to be considered making satisfactory progress in a program. Scholarship students must complete 24 hours. The required hours of progress are prorated for part-time students and students in graduate programs. Students who do not make progress will not be awarded or disbursed financial aid. Also, students who have attempted more than 150% of the hours required for graduation in their program are not eligible for financial aid. For complete details on suspension, non-renewal and appeal, contact the Financial Aid Office.
Application Procedures
Because a student’s family resources can decrease and increase significantly from year to year, the University requires each student to apply annually for need-based financial aid. Students currently receiving scholarships will be automatically reviewed for renewal according to the specific scholarship renewal criteria.
- Although applications will be processed throughout the year, students should complete and submit the Free Application for Federal Student Aid no later than February 15 in order to meet the April 1 priority deadline for fall semester.
- Entering freshmen applying for scholarships only need to complete the application for undergraduate admission and academic scholarships and be admitted to the University by February 1. Students currently receiving scholarships are not required to submit the Application for Scholarship. Students applying only for academic merit scholarships are not required to complete a financial statement. However, the financial statement is recommended.
- Students should have begun the process for admission to the University prior to or at the same time as applying for financial aid.
- Tennessee residents should apply for the Tennessee Student Assistance Award if requesting aid based on financial need.
- The Financial Aid Notification Letter is the UTC award letter which states the amount and types of financial aid awarded.
- Students must make satisfactory progress toward the degree to continue on financial aid. There are two standards of progress the student must meet. First, students must be eligible to continue according to the University’s “Standards of Continuation’’ published in the catalog. Second, students must earn a required number of hours each year based on their enrollment as a part-time or full-time student. A thorough explanation of this standard and a set of guidelines may be obtained in UTC’s Financial Aid Office. A separate continuation scale for Provost's, Chancellor's and Dean's scholarships is published each year.
- If students expect to have funds available for fee payment, they must complete all procedures, submit necessary documents, and accept their awards by July 1 for fall semester and November 1 for spring semester.
Application Process
- Complete and submit the Free Application for Federal Student Aid (FAFSA, www.fafsa.ed.gov). There is no fee required. Be sure to include UTC and its Title IV code, “003529” in the appropriate section of the Free Application for Federal Student Aid. Allow 4-6 weeks for processing.
- An institutional information form is required of all students. This document may be obtained from the UTC Financial Aid Office.
- A student verification form, appropriate federal tax returns, and W2 forms may be requested. These documents should be submitted only if requested.
- Other forms may be required to complete the application process. Return all requested forms as soon as possible.
Award Process
The award process occurs 4-6 weeks following receipt of all requested forms.
- Financial Aid Office awards aid for student and sends student a “Financial Aid Notification” award letter.
Check Authorization and Disbursement
Normally funds for students are authorized by the UTC Financial Aid Office and disbursed by the UTC Bursar’s Office.
- Disbursement of Stafford Loans occur during designated fee collection days or as soon thereafter as possible. First-time borrowers at UTC must complete an entrance interview in order to receive loan funds. First time freshmen loan proceeds will be disbursed 30 days after the first day of classes.
Refund Process
Refund Process For Title IV Federal Student Financial Aid
Students who receive Federal Title IV assistance will be subject to a different refund calculation if they withdraw from all classes. Students who withdraw during the first 60 percent of the term will have a refund calculated under the Return of Title IV Funds Refund Policy. The percentage of the refund will equal the percentage remaining in the term at the time that the student withdraws.
All refunds caused by a student withdrawing from classes will be returned to the appropriate financial aid account(s) or lender in the case of student loans. Refunds will be credited/returned, within 30 days, to the appropriate student financial aid program(s) in the order listed:
- Unsubsidized Federal Stafford Loan
- Subsidized Federal Stafford Loan
- Federal Perkins Loan
- Federal Plus Loan
- Federal Pell Grant
- FSEOG
- Other SFA Programs
- Other federal, state, private, or institutional sources of aid
- The student
Note: UTC reserves the right to bill the student for any return of Title IV refund amount that exceeds the university’s published institutional refund policy.
