Financial Aid Office
What’s New For 2012-2013
The Financial Aid Office has implemented a "Financial Aid Literacy and Debt Management" website and video to assist UTHSC students. This site will discuss the basic skills you need to be financially literate as you make important financial decisions with your budgeting, borrowing, maintenance of credit, spending, saving and investing. You can access this site at http://www.uthsc.edu/finaid/literacy.
Excess Financial Aid Refund Dates
Federal regulations state that before disbursing FSA funds, the institution must confirm that “if the disbursement occurs on or after the first day of classes, that the student has begun attendance.” Thus, before refunds can be disbursed to students, UTHSC will be confirming student attendance. Following is a chart of when you may expect your excess financial aid refund based on the semester you are enrolled in.
|Excess Financial Aid Refund for Fall 1 semester which starts on July 2, 2012||July 11, 2012|
|Excess Financial Aid Refund for Fall 2 semester which starts on August 1, 2012||August 8, 2012|
|Excess Financial Aid Refund for Fall 3 semester which starts on August 13, 2012||August 22, 2012|
|Excess Financial Aid Refund for Spring semester which starts on January 3, 2013||January 14, 2013|
|Excess Financial Aid Refund for Summer semester which starts on June 3, 2013||June 7, 2013|
IRS Data Retrieval (available at the FAFSA website) is now available two weeks after filing your 2011 income taxes electronically. Use this helpful tool to avoid having to manually load your income tax information on your FAFSA.
If you are selected for the "verification" process, you must submit a copy of you and/or your parents' 2011 IRS Tax Return Transcript. To obtain a copy, call toll free 1-800-908-9946, or go on-line to http://www.irs.gov. Click on "Order a Return or Account Transcript", and then click on "Tax Return Transcript". (NOTE: Financial Aid Offices can NO LONGER ACCEPT copies of tax returns - IT MUST BE AN OFFICIAL IRS TAX RETURN TRANSCRIPT).
Effective July 1, 2011, there is a rule change regarding federal financial aid and payment of repeated coursework. If you have taken and passed a course (with a grade of D or higher), federal financial aid will now only pay for you to repeat this course one time. Should you decide to repeat a course for a second (or more) time, federal financial aid will not cover the cost of that course.
If you are currently enrolled in a repeated course for the second time, and you passed the course the first time you enrolled in it, your financial aid may be revised. You should consider dropping the course and adding another course you have not taken before.
Beginning July 1, 2012, the Federal Direct subsidized student loan will no longer be available to graduate students. Graduate students' eligibility in the former subsidized loan program will now be added to their eligibility in the unsubsidized loan program. A student's total amount of loan eligibility for the academic year will remain the same (i.e., "old" subsidized loan amount + "old" unsubsidized loan amount = "new" unsubsidized loan amount).
Elimination of Year Round Pell Grant
Receiving a Federal Pell grant greater than 100% of the annual award is no longer an option with the 2011-2012 Award Year. For example: A student who was full time for both the Fall 2011 and Spring 2012 semesters will have no remaining Pell Grant eligibility for Summer 2012.
12 Semester Lifetime Limit for Federal Pell Grant
Effective for the 2012-2013 Award Year, the duration of a student's Federal Pell Grant eligibility will be limited to 12 full-time semesters (600%), or until a bachelor's degree is earned, whichever comes first. This new amendment to the Higher Education Act, Section 401 (c)(5) is a federal mandate and not subject to appeal.
Elimination of Grace Period Interest Subsidy
This new provision eliminates the interest subsidy provided during the 6-month grace period for Direct Subsidized Loans first disbursed after July 1, 2012, and before July 1, 2014. Students receiving a subsidized loan during this limited timeframe will be responsible for the interest that accrues on the loan during the grace period. If a student does not pay the interest accrued on these particular loans, the interest will be added (capitalized) to the principal amount when the grace period ends.
Recent changes to the way the federal government distributes and manages student loans will affect how The University of Tennessee Health Science Center students receive financial aid.
Read more about what these changes are, and what they mean for students who currently receive or plan to apply for federal student loans.
AVOID $500 RE-ENROLLMENT FEE
Avoid being assessed a $500 re-enrollment fee by registering on time. View the important deadlines page on the Bursar’s Office web page to find your program’s registration deadline date.
Code of Conduct
The UTHSC Financial Aid Office is a member of the National Association of Student Financial Aid Administrators (NASFAA) and therefore adheres to NASFAA’s Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals.
Information regarding emergency student loans, as well as emergency student loan applications, can be found on the Bursar's Office loan information page.