Graduate & Professional Studies Financial Aid

Undergraduate Students

Your financial aid package will be made up of one or more of the following sources:

• Employee benefits – check with your company's human resource department
• Scholarships funded by foundations or private entities
• Veteran's benefits
• Tennessee Student Assistance Award
• Amount determined by the state.
• Must be a resident of TN, submit FAFSA by early January and demonstrate high financial need.
• Amounts vary depending upon student's financial need.
• Federal Pell Grant
• $400-$5,500
• Submit FAFSA and demonstrate high financial need.
• Must meet federal eligibility requirements.
• Federal Perkins Loan Programs
• $200-$2,000
• Submit FAFSA; must demonstrate financial need, complete entrance counseling, and sign promissory note.
• Repayment with 5% interest begins the 10^th month after the student terminated enrollment. Until that time, no payments are required and interest is paid by the government.
• Federal Direct Subsidized Loan
• $3,500-$5,500
• Submit FAFSA; awarded based on demonstrated need.
• Variable interest rate caps at 8.25%. Interest is subsidized by the federal government therefore interest does not accrue on the loan while student enrolled remains at least half-time.
• Federal Direct Unsubsidized Loan
• $3,500-$5,500
• Submit FAFSA; no demonstrated need. Awarded with or instead of subsidized loan.
• Interest rate and payment terms are the same as for subsidized loans. However, since the government does NOT pay the interest on the loan, the student may elect to make interest payments while in school OR let the interest capitalize.

Graduate Students

Your financial aid package will be made up of one or more of the following sources:

• Employee benefits – check with your company's human resource department
• Scholarships funded by foundations or private entities
• Veteran's benefits
• Federal Direct Subsidized Loan
• $3,500-$5,500
• Submit FAFSA; awarded based on demonstrated need.
• Variable interest rate caps at 8.25%. Interest is subsidized by the federal government therefore interest does not accrue on the loan while student enrolled remains at least half-time. payment of interest and principal begins the 7^th month after the last date of enrollment.
• Federal Direct unsubsidized Loan
• $3,500-$5,500
• Submit FAFSA; no demonstrated need. Awarded with or instead of subsidized loan.
• Interest rate and payments terms are the same as for subsidized loans. However, since the government does NOT pay the interest on the loan, the student may elect to make interest payments while in school OR let the interest capitalize.
• Federal Direct GRAD PLUS Loan
• As needed up to the cost minus other financial need.
• Application is made wit lender; must be creditworthy.
• Graduate students may borrow the amount needed to cover educational cost minus other expenses not covered by financial aid. Loans may be deferred if enrolled at lest half-time and the lender approves the deferent.

The purpose of financial aid at King College is to provide financial assistance to students who, without such aid, would be unable to attend college.  The College is able to fulfill this purpose by participating in federal and state student assistance programs.

To learn more about How to Apply visit admissions.king.edu.

To learn more about Verification visit admissions.king.edu.

Financial Aid Application Process

A completed application for financial aid at King College includes the following:

1. Formal acceptance for admission to King College as a regular degree-seeking student.
2. Completion and submission of the FAFSA (Free Application for Federal Student Aid) www.fafsa.ed.gov. Indicate King College as one of the colleges you would like to attend. The complete address of the College, 1350 King College Road, Bristol, Tennessee 37620, should be used on the form, along with the school code 003496. The financial data on this form should be taken from the previous year's completed tax return.

Financial Aid Policies

1. Financial aid is awarded for one academic year, usually for two semesters. Aid eligibility is re-evaluated each year, and new application must be submitted annually.
2. A financial aid recipient must be accepted for admission, pursuing a qualified degree or certificate, and enrolled at least half time.
3. The student expense budget, built under federal regulations, will include the cost of tuition, fees, books, room, board, travel, and a modest but adequate living allowance for personal expenses.
4. If selected for verification, reasonable efforts will be made to verify personal and financial data submitted by applicants for financial assistance. Included in required documentation is the verification worksheet and appropriate income tax returns. Other documents such as W-2s or schedules may also be requested.  Refusal to submit required documentation could result in the cancellation of financial aid. All forms must be signed and returned before financial aid funds are disbursed to student accounts as credits.
5. Disbursement of federal/state funds is contingent upon Congressional appropriation and upon receipt of the funds by King College.
6. A student who accepts student loans as part of a financial aid package must complete other steps before the loan can be a credit on account. These include, but are not limited to: completion of loan entrance counseling, application, and promissory note.
7. Students should report in writing to the Financial Aid Office any additional aid which he or she receives from outside sources (loans, outside scholarships, etc.).
8. The Financial Aid Office reserves the right on behalf of the College to review and change an award at any time because of changes in financial situation or academic status, or change of academic program.
9. Financial aid will be provided to degree seeking students enrolled a minimum of half-time, with remaining eligibility per program. Eligible semesters for part-time students will be prorated.

Additional Information

1. It is the student's responsibility to be aware of the Satisfactory Progress Standard – please see the Academic Bulletin for this information.
2. Renewal of financial aid is also dependent on punctual, accurate reapplication and availability of funding sources.
3. When the FAFSA is processed, students will receive a Student Aid Report.  This report should be kept with other financial aid papers for reference.

For Useful Websites visit http://financialaid.king.edu/useful-web-sites/