Federal and State Aid Programs

Bethel University participates in the following Federal and State Aid programs:
 

FEDERAL PELL GRANT
 

The Federal Pell Grant is awarded to students with financial need as determined by the FAFSA. Grants for full-time students range up to $5730 per year for 2014-15.  Grants for part-time students will be based on number of hours enrolled. Pell Grant is limited to 12 semesters or its equivalent. 

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG)
 

The SEOG Grant is awarded to Pell eligible students who have exceptional financial need as determined by the FAFSA. The award ranges from $500 to $4,000 per year. 
 
 

TENNESSEE STUDENT ASSISTANCE AWARD (TSAA)
 

TSAA is awarded to Tennessee residents with financial need as determined by the FAFSA. The student must be enrolled at least half time. Funds are limited, so it is important that Tennessee residents complete the FAFSA as soon as possible after Jan. 1 each year. The award will be assigned to the first Tennessee school listed on the FAFSA. This may be changed by notifying the Tennessee Student Assistance Corp. on the TSAC student financial aid portal. Bethel University's school code for this program is 12. The award for full-time enrollment at Bethel University is $4,000. 

 

TENNESSEE EDUCATIONAL LOTTERY SCHOLARSHIPS (TELS)
 

TELS is awarded to Tennessee residents who qualify based on the academic criteria established by the state of Tennessee. The student must file the FAFSA by September 1 each year. They also must  have graduated after December 1, 2004, from a Tennessee high school, home school, or GED program and enroll in an accredited Tennessee college or university within 16 months of high school graduation. The student must enroll at least half-time.  These scholarships may also be available for summer term.  There are several lottery scholarship available. For more information see the link on the Helpful Website page.

 

OTHER TENNESSEE SCHOLARSHIPS
 

There are other scholarships available to Tennessee residents based on academic and other criteria.  See the link on the Helpful Website page for more information.

 

 FEDERAL DIRECT  LOAN PROGRAM
 

These government guaranteed loans are available to degree seeking students enrolled at least half-time. Payment begins six months after a student graduates or is no longer enrolled at least half-time. There are two types of Direct loans. The Direct Subsidized loan is need based. The Federal government pays the interest while the student is enrolled at least half-time. The Direct Unsubsidized loan is non-need based. The student is responsible for the interest which may be paid while enrolled or capitalized (added to the principal of the loan). The type loan a student receives is determined by the FAFSA.

Once awarded a Direct loan, a new borrower at Bethel University must complete a Master Promissory Note (MPN) and  Loan Entrance Counseling. The MPN is a Serial Note that is good for up to 10 years.   

The maximum amount a student may borrow in a given year (which includes a fall, spring, and summer semester) is based on their academic grade level and dependency status as determined by the FAFSA. The chart below lists the maximum annual amounts allowed.                                                                                                             

 

Annual Undergraduate Direct Loan Limits *
Grade Level Hours Dependent Student **  Independent Students
Freshman 0-27 $5,500 
(no more than $3500 can be Subsidized)
$9,500 
(no more than $3500 can be Subsidized)
Sophomore 28-59 $6,500 
(no more than $4500 can be Subsidized)
 $10,500 
(no more than $4500 can be Subsidized)
Junior 60-95 $7,500 
(no more than $5500 can be Subsidized)
 $12,500 
(no more than $5500 can be Subsidized)
Senior 96 + $7,500 
(no more than $5500 can be Subsidized)
 $12,500 
(no more than $5500 can be Subsidized)

 

*  The total amount of Financial Aid received (including loans) cannot exceed the cost of attendance.
** If a parent is denied a Parent Plus loan, a dependent student may be eligible for additional Direct Unsubsidized loan.

Annual Graduate Direct Loan Limits:  $20,500 Direct Unsubsidized loan. The total amount of Financial Aid received (including loans) cannot exceed the cost of attendance.

Aggregate Loan Limits (effective July 1, 2008):  
Undergraduate Dependent Students:  $31,000 (no more than $23,000 can be subsidized)
Undergraduate Independent Students:  $57,500 (no more than $23,000 can be subsidized)
Graduate and Professional Students:  $138,500 (no more than $65.500 can be subsidized)

FEDERAL DIRECT PARENT PLUS LOAN PROGRAM
 

This Federal Education loan is designed for credit-worthy parents of undergraduate students. Parents may borrow up to the cost of attendance minus any financial aid the student may receive. Repayment of the Plus loan begins within 60 days of the final disbursement and has a repayment term of ten years. Beginning July 1, 2008, a parent borrower may choose to defer payments until six months after the student ceases to be enrolled at least half-time. If a parent is denied a Parent Plus loan, the student may be eligible for an additional Stafford Unsubsidized loan.



FEDERAL PERKINS LOAN PROGRAM
 

The Federal Perkins Loan is a need-based federal loan with a fixed 5% interest rate. Loans for undergraduate students may be awarded up to $5,500 per year, however funds are very limited. 
 


FEDERAL DIRECT GRAD PLUS LOAN PROGRAM
 

This Federal Education loan is designed for credit-worthy graduate students who still have need after the student has received the Stafford loan. The total of all aid (including Stafford and Grad Plus loans) cannot exceed the cost of attendance. Grad Plus loans can be consolidated with the Federal Stafford loan.
 


FEDERAL COLLEGE WORK-STUDY PROGRAM
 

Federal Work-study is assigned to students who have federal need as determined by the FAFSA. They will usually be assigned a job on campus. The student may choose to apply their work-study checks to their Business Office account as payment. Please note that this is NOT a scholarship or grant. The student must WORK the assigned hours to receive the amount awarded.  
 


VOCATIONAL REHABILITATION GRANTS
 

These grants are made through the State Department of Human Services. The student should contact their local Division of Vocational Rehabilitation Services in their home county for more information.