Financial aid funds are always limited. To guarantee fairness in awarding institutional funds, Sewanee combines three factors when determining how to allocate institutional need-based aid:
The University has different award criteria for the current undergraduate population, depending upon when students entered Sewanee. The different criteria, though, contain some common elements:
Continuing eligibility for all funding is contingent on maintaining appropriate satisfactory academic progress standards.
Should fiscal considerations warrant, the University reserves the right to adjust the work and/or loan expectation to more fully utilize its institutional grant and scholarship funds in any academic year.
Prior to April 15, prospective students eligible for need-based aid, with a complete actionable application, will receive an award notice. This award will indicate the financial assistance for which these students are eligible at that time. This award may be “contingent” because, in order to credit aid to the student’s bill, the prospective student and his/her parents must complete any and all verification materials required by either the federal government or the Office of Financial Aid. Completion of verification materials must take place within the time frame specified on the materials.
Aid cannot be credited to bills until (a) Sewanee is notified of its federal allocation under the applicable aid programs and (b) the verification process is completed. Additionally, prospective students must submit their reservation deposit before aid will be credited. Continuing students begin receiving Award Notices after grades are issued for the Easter Semester.
The Award Notice is for your information, and need not be returned to the Office of Financial Aid. You may accept all or part of the financial aid award package.
While the amounts shown on an Award Notice are usually fixed, the award amounts are subject to revision due to changes in Pell Grant eligibility, receipt of additional funds, changes in family circumstances, changes in the number of family members in college, federal reductions in prior appropriations, etc.
The acceptance of financial assistance carries with it certain conditions and expectations:
With the exception of Federal Work-Study and Work Scholarships, aid at Sewanee is received through a voucher system; that is, aid is credited to the student’s account by the Office of the Treasurer to help offset the charges for tuition, fees, room and board. Should the aid amount credited exceed these charges, a refund is issued by Student Accounts in the amount of the credit balance in the account.
Federal Work-Study and Work Scholarship earnings are paid directly to the student in the form of a monthly check or direct deposit based upon actual hours worked, and are to be used to meet ongoing student costs, such as travel costs and day-to-day living expenses.
The student and his/her family should plan to have funds available from the family to pay for books and other indirect costs when school begins as earnings from work will not be available until later in the semester.