The College's Financial Aid Program aims to make it possible for any qualified student to attend The LeMoyne-Owen. Since funds are limited, it is important for students to meet the application deadlines described below.

APPLICATION FOR FINANCIAL AID

Application From Students seeking financial aid from any source must complete the Free Application for Federal Student Aid (FAFSA). This application determines a student's eligibility for all federal aid programs, for grants from the Tennessee Student Assistance Corporation (TSAC), and for The LeMoyne-Owen Scholarships. Students applying for a The LeMoyne-Owen Scholarship must also complete a separate College Scholarship application.

Deadlines.    Since funds are limited, priority will be given to students whose complete applications have been received in the Office of Student Financial Services by:

May 1 - for the following academic year (fall and spring semesters)
November 1 - for the spring semester
April 16 - for the summer semester

Renewal.    Renewal of financial aid is not automatic. All students, including scholarship recipients, must each year complete and mail the Free Application for Federal Student Aid (FAFSA), or the renewal FAFSA, if they are to be considered for financial aid.

Eligibility for financial aid depends on whether a student is making satisfactory academic progress. This is defined by the number of credit hours attempted, credits earned, and cumulated GPA at the end of each year. The number of course credit hours attempted includes all courses for which a grade of A, B, C, D, F or P was received, plus courses where the result was a designation of WA, WD or I. Repeated courses are counted as attempted each time taken; however, only the most recent quality points earned are included in the calculation of the GPA. Students who have not made satisfactory academic progress are placed on financial aid probation for two consecutive semesters, during which time they may continue to receive federal and state financial aid. Federal and state aid are only available for the first 180 credit hours attempted by a student. Students who become part-time (fewer than 12 credit hours) as a result of dropping courses should be aware that their financial aid may be adjusted.

To be eligible for state and federal financial aid, part-time students must be enrolled for at least 6 credit hours each semester and must earn 10 credit hours during an academic year. A part-time student's cumulative GPA may be no lower than 1.5 after the first four semesters, 1.70 during the next four semesters and 1.90 during the next four. After the sixth year (twelfth semester) a part-time student must have achieved and must maintain a cumulative GPA of at least 2.0.

FEDERAL AND STATE PROGRAMS

The LeMoyne-Owen College administers the federal and state aid programs listed below:

Federal Pell Grants
Federal Supplemental Educational Opportunity Grants
Federal College Work-Study
Federal Family Education Loan Program(Subsidized, Unsubsidized, Plus, & Signature Loans)
Tennessee Hope Education Lottery Scholarship
Tennessee Student Assistance Grants
ROTC scholarship programs (through the University of Memphis)
Veteran's Educational Benefits

Federal Pell Grants are the foundation of most financial aid packages. The amount of each Pell grant is determined by a federal formula, which measures the ability of the student and the student's family to meet educational expenses.

Federal Supplemental Education Opportunity Grants (FSEOG) are available to students who demonstrate exceptional financial need. Applicants who are recipients of a Pell grant are given priority for these grants.

Federal College Work-Study funds are made available to the College to provide part-time employment for students with financial need. Students in this program are paid at minimum the national minimum wage.

Federal Family Education Loan Program (FFELP) is used for the Stafford subsidized/unsubsidized and parent loan programs for undergraduate students.

Deciding which lender you want to borrow from can be a daunting task.  To help guide you, we have put together a list of preferred lenders.  While you may choose any lender, our goal is to do the research for you, simplify the process, and propose lenders with the best products, technology, and pricing available.  The lender you choose will be the lender for the life of the loan and will be assigned to you in subsequent years.  If you have any questions about our lender list, please do not hesitate to contact the Office of Student Financial Services at 901-435-1550.

Reserve Officer Training Corp (ROTC) Scholarships are available to students who participate in either the United States Air Force, Army or Navy "Crosstown" programs based at the University of Memphis. Students admitted to these programs are committed to a period of service after graduation and compete for scholarships meeting most of the costs of their education.

Tennessee Education Lottery Scholarship Programs are scholarships available to all Tennessee residents who enroll in one of the Tennessee public colleges or universities or private colleges. For more information on the Tennessee Education Lottery Scholarship Program, go to the website.

Tennessee Student Assistance Awards are need-based grants to Tennessee residents who are enrolled at least half time as undergraduates in eligible Tennessee colleges and universities. Funds are limited and students are urged to apply as early as possible after January 1 of each year.

Veteran's Educational Benefits are maintained in the Veterans Affairs Office, which is currently housed in the Office of Student Records. The designated "certifying official" of the College cooperates with the Veterans Administration in providing educational opportunities for veterans and eligible persons under the appropriate laws. The office is responsible for maintaining veterans' needs related to educational benefits, providing information for counseling and tutorials assistance to eligible persons on campus. Upon accepting veterans' educational assistance, the student assumes responsibility for all rules and regulations of the Veterans Administration.

Veterans wishing to apply for educational benefits (except for students who transfer from regionally accredited schools) must submit high school/GED transcripts and/or transcripts from accredited colleges attended. All veterans and Guard/Reserve recipients must submit a DD-214 copy to the Records Office for transfer credit evaluation. These documents must be submitted within the first semester of attendance or further registration for courses will not be permitted.

The VA Form 22-1990 and 22-1999, Veterans Application for Program of Education or Training and Enrollment Certification, must be completed. Reserve and Guard benefit recipients must submit DD Form 2384 (NOBE) and a DD-214 form. Proper application forms for disabled veterans or sons/daughters, widows/widowers, wives/husbands of veterans are available in the Veterans Affairs Office. Most benefits and regulations also apply to eligible dependents.

VA regulations forbid a veteran from repeating a course that has been transferred from another school. Veteran students should not take a course that is not listed in the catalog or program of study under the major curriculum even though they are not counting it for VA benefits. Veterans may not be certified for a course for which they have received an "I" grade unless the "I" converts to a quality letter grade. Veterans may repeat courses with pay only if the previous grade was an "F." Veterans should consult with the Veterans Affairs Office certifying official prior to changing course load or majors and then verify the actual change.

Regular attendance is required to receive veterans benefit pay. Instructors are required to report non-attendance of veterans to the Veterans Affairs Office, which reports non-attendance to the Veterans Administration regional office. Payments are adjusted or canceled if attendance is not regular.

The Veterans Administration regional may be contacted toll-free by calling 1-800-827-1000. Veteran benefits recipients may also use the Department of Veteran Affairs web site to address benefits concerns or to find current regulation information. The web address is not case specific: http://www.gibill.va.gov