Basics of Financial Aid

What is Financial Aid?

Financial aid is funds awarded to you to help pay educational costs. The federal and state governments as well as post-secondary schools are public sources of aid, while civic groups, clubs, and religious organizations serve as private sources of aid. Financial aid is classified into three basic types: grants and scholarships are funds awarded that are not required to be repaid; employment is work, either on or off campus that you find through the Federal Work-Study program or on your own initiative; and a loan is money borrowed from the federal or state government or an alternative lender that must be repaid, including interest. Financial aid is distributed according to a variety of eligibility criteria within two categories:

  1. You are awarded need-based aid to make up the difference between your total cost to attend Hiwassee College full time and the amount of your family’s contribution as determined by the federal government.
  2. You may use non-need based aid to replace your family contribution if you meet the necessary eligibility criteria, which may vary depending on the program.

Can I get Financial Aid?

Financial aid is awarded based on financial need. At Hiwassee College, more than half of all students receive some form of financial aid. The total amount of financial aid (need and non-need based) awarded to you cannot exceed your total educational costs. Individual program requirements vary and funds are limited, therefore your total financial need may not always be met.

What will it cost to attend Hiwassee College?

Educational costs depend on your program of study, the number of hours enrolled and your living expenses. Costs for full-time tuition and fees range based on a student’s program of study.

More information about costs is available on the Cost of Attendance  page.

Why do I have to have a family contribution?

You and your family are primarily responsible for financing your education and are expected to make a maximum effort to assist you with college expenses. Financial aid should be viewed as supplementary to your family’s contribution.

I am not a full-time student this term; am I still eligible for Financial Aid?

If your enrollment is below half-time you are not eligible to receive funds from the Supplemental Educational Opportunity Grant (SEOG), state of Tennessee Grants, or the certain Federal Student Loan. In addition, scholarships awarded to you based on full-time attendance may be reduced or completely cancelled.