Sample On-Campus Financial Aid Packages for

Tennessee Resident First-Year Students

 

These samples are based on 2012-2013 costs and an academic profile of a student
with a 3.50 High School GPA and a 25 ACT or 1130 SAT.

JASON MELISSA DAVID EMILY
 



Family Income
 $30,000 $60,000 $90,000 $120,000+
Maryville College Cost of Attendance (1) 43,638 43,638 43,638 43,638
Maryville College Direct Costs (2) 40,218 40,218 40,218 40,218
Expected Family Contributions (EFC) (3) 0 5,500 15,000 25,000
         
Financial Aid Award
        
Federal Pell Grant (4) 5,550      
TSAC Student Assistance Award (5) 4,000      
Need-Based MC Grant (6)
4,700
 
Maryville College Scholarship (7) 18,000 18,000 18,000 18,000
Federal Stafford Direct Loan (8) 3,500 3,500 3,500 3,500
Additional UnSubsidized Stafford Loan (8) 2,000 2,000 2,000 2,000
Perkins Loan Program (9)   2,500    
Federal Work Study (10) 1,500 1,500    
         
Maryville College Financial Aid Award
 $34,550 $32,200 $23,500 $23,500
         
TN HOPE Lottery Scholarship (11) $5,500 (12) $4,000 $4,000 $4,000
         
Total Financial Aid Award
 $40,050 $36,200 $27,500 $27,500
         
**Payment Options are available to help cover the student's balance. (13)

KEY DEFINITIONS:

(1) Maryville College 2012-2013 Cost of Attendance includes tuition, fees, room and board, books, travel and miscellaneous expenses for the academic year. Students who live at home with parents will have lower costs and, therefore, will have a lower financial aid award.

(2) Maryville College 2012-2013 Direct Costs are tuition, fees, room and board. Direct Cost are charges that are paid directly to Maryville College. Non direct costs are books, travel and miscellaneous expenses that are included in a total Cost of Attendance.

(3) Expected Family Contribution (EFC) is a number generated through completion of the Free Application for Federal Student Aid (FAFSA). The EFC calculated above for all scenarios is based on four family members with one in college,
both parents employed, parental assets of $40,000 and student income of $2,500.

(4) Federal Pell Grant is awarded by the Department of Education to students who have high financial need.

(5) Tennessee Student Assistance Corporation (TSAC) Student Assistance Award is awarded to Tennessee residents who have high financial need. Students who believe they may be eligible must submit the FAFSA as soon as possible after January 1, 2012 as funds are very limited and do run out. Deadline is February 1, 2013.

(6) Maryville College Need-Based Grant varies according to need and academic ability.

(7) Maryville College Scholarship varies according to merit or Fellowship or Fine Arts.

(8) Stafford Loan is guaranteed by the Department of Education. Loan payments are deferred while the student is attending college. Students are eligible for an additional $2,000 UnSubsidized Stafford through the Stafford Direct Loan Program.

(9) Federal Perkins Loan amounts vary and eligibility is determined by need and availability of the loan funds. Funds do run out.

(10) Students eligible for the Federal Work Study program (determined by need) receive priority. Employment is not guaranteed. Students are paid monthly and the amount does not come off of Maryville College Direct Costs.

(11) TN HOPE Lottery Scholarship requires that eligible students have an unweighted grade point average (GPA) of 3.0, an ACT composite score of 21 or an SAT composite score of 980. Eligibility for the TELS program in most instances does not impact a student’s eligibility for financial assistance from Maryville. Families must file the FAFSA in order to receive the TN HOPE Lottery Scholarship.

(12) Students whose families have an adjusted gross income (AGI) of $36,000 or less may be eligible for an additional $1,500 through the Lottery’s Aspire Award.

(13) Payment Options:

  • Maryville College offers a monthly payment plan administered through Sallie Mae or TMS. A payment plan is convenient and makes covering your balance manageable. Payment plans are available for 9-10 installments to cover the full academic year.
  • Parent Loan for Undergraduate Students (PLUS) allows a parent to borrow up to the cost of attendance minus all other financial aid. The PLUS loan is a credit based loan and is not guaranteed. A credit based application is required. If a parent is denied the PLUS loan, the student may be eligible for up to an additional $4,000 UnSubsidized Stafford loan.
  • Private Educational Loans are available for students who have exhausted all other avenues of financial aid. Private Educational loans are also credit based and the interest rates and origination fees can be based on the credit application. A co-signer is often needed for a Private Education Loan.

Please note: Every family’s financial aid award is unique and specific to each family’s circumstances. The examples above are offered to give prospective students and their families an idea of the affordability of a Maryville College Education. Having additional family members or more than one student in college may affect the amount of financial aid. Maryville College strongly encourages students to seek outside scholarships. Additional outside scholarships will rarely affect any Maryville College Scholarship or need-based aid. In most cases an outside scholarship will reduce the need for loans.

Important Information: File your FAFSA early to insure that you get all the financial aid that is available. We encourage families to file before February 1, 2013. We also encourage estimating 2012 tax information on the FAFSA and making corrections to the FAFSA when you complete your 2012 tax return. You can file your 2013-2014 FAFSA starting January 1, 2013 at www.fafsa.ed.gov.