1. New Graduate Student Orientation
August 2018
Tim Woods
Office of Financial Aid and Scholarships

2. Types of Graduate Student Funding
Student Loans
Fellowships
Scholarships
Assistantships

3. Free Application for Federal Student Aid FAFSA

4. Applying for Federal Financial Aid Free Application for Federal Student Aid
Generally submitted for the purpose of obtaining a Federal Student Loan
Might be required if your department of major is considering you for possible scholarships that consider financial need
Priority filing date = January 15, but the FAFSA available as early as October 1
FAFSA filers must be a degree-seeking U.S. citizen or Permanent Resident
New FAFSA required annually
FAFSA verification – required of some applicants

5. Student Loans

6. Federal Direct Student Loan Details
Enroll in a minimum of 6 semester credit hours
First-time borrowers sign master promissory note and complete entrance loan counseling
Funding sent to UT and applied to tuition/fees
Overpayment of charges can result in a refund to help with indirect expenses – housing, books, personal costs
Be sure to sign up for financial aid direct deposit on MyUTK

7. Federal Direct Student Loan Continued
Annual and lifetime limits on what can be borrowed
$20,500 per year - $138,500 lifetime maximum
Repayment typically deferred until after graduation, as long as you maintain 6 credit hours enrollment each fall/spring. Summer enrollment not required
Student loans plus other financial aid (scholarships, fellowships, fee waivers) cannot exceed the estimated cost of attendance

8. Additional Details on Borrowing
Graduate PLUS loan to supplement Federal Loan
Interest accrues – Direct Loan Rate = 4.4% PLUS Loan = 7%
Private Student Loans might be possible, but generally should be considered as a last resort
Loans always reduced, if scholarships, fellowships, fee waiver, or other financial aid places a student above allowable maximum (based upon the estimated cost of attendance)
Loans taken during undergraduate years generally eligible to place in deferment during pursuit of graduate degree

9. Fellowships

10. Fellowship Details
Most fellowships include a per-semester award issued as a form of financial aid
Small number of fellowships disbursed on a monthly basis, but the amount also issued as a form of financial aid
Potential tax responsibility, when you file your federal income tax returns – IRS.GOV for more details
Some fellowships include a tuition/fee waiver – the value of the waiver counted as part of the recipient’s total financial aid
Reminder: Must adhere to the requirements that are mandated as a recipient of a fellowship

11. Graduate Assistantships

12. Graduate Assistantships
Usually awarded as a teaching or research assistantship
Tuition/fee waiver generally included, which is counted as part of recipient’s financial aid
Potential tax responsibility on waiver, when you file your federal income tax returns – IRS.GOV for more details
Monthly pay issued via UT Payroll – does not count in a recipient’s financial aid
Assistantships are competitive and mostly exist within academic departments/colleges, although a small number exist in administrative departments
As with fellowships, assistantships have requirements that must be satisfied – questions about those obligations should be addressed by awarding department

13. Scholarships

14. Scholarship Opportunities
Usually coordinated by the UT academic college/department of major, if funding is available within your area of study
Meet the minimum requirements to stay eligible – refer to offer-letter for those requirements
External Scholarships may exist – be cautious investigating external scholarships
Both UT and External scholarships disbursed as another form of financial aid and counted towards your allowable maximum amount of financial aid each year
Also have potential tax responsibility, when you file your federal income tax returns – IRS.GOV for more details

15. Cost of Attendance

16. Cost of Attendance Tuition & Fees Room & Board Books & supplies
Transportation
Personal
Grants
Loans

17. 2018-2019 Estimated Cost of Attendance
UT Graduate Students
In State
Out of State
Costs
Tuition and Fees
$13,120
$31,538
Books
$1,880
Room and Board
$13,146
Transportation
$1,664
Personal
$4,516
Total
$34,326
$52,744
Small number of programs have a different total cost – UT Law, Vet Med, and MBA

18. Special Circumstances and Costs

19. Additional Costs
Certain costs are not factored into UT’s estimated cost of attendance, but some of those expenses might be allowed to be factored into your annual budget for financial aid
Examples:
Childcare expenses
Computer purchase (one time only)
Internship/student teaching expenses
Medical expenses not covered by insurance (one time per academic year)
Additional books and supplies
Study abroad expenses
**Only needed, if your total financial aid exceeds the cost of attendance**
Contact our One Stop staff to discuss your situation at:
(865)

20. Satisfactory Academic Progress (SAP)

21. Satisfactory Academic Progress (SAP)
Students must meet the minimum GPA required for their program of study Satisfy minimum enrollment requirements each term on attempted credit hours for your program of study Complete your degree within 150% of the published length of your major SAP monitored each semester on all students Students who fail to make SAP may lose eligibility for future student loans (federal and private loans) Appealable situations might warrant a probationary period, if student experiencing extenuating circumstances that can be documented

22. ONESTOP.UTK.EDU
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