1. Question: Do I have to repay need-based financial aid?
    Answer: You do not have to repay PELL, TSAC, or HOPE, as these are grants.
  2. Question:  Do I have to pass a credit check for SUBSIDIZED and UNSUBSIDIZED loans?
    Answer: No, loans are guaranteed by the Federal Government.
  3.  Question:  Do I have to repay Subsidized Loans?
    Answer:  Yes, but the great news is no interest accrues while you’re in class.  Interest is charged 6 months after you stop taking classes, or drop below half-time status (6 hours) for the life of the loan. NOTE:  Subsidized Loans disbursed between July 1, 2012, and July 1, 2014, will accrue interest during the grace period.  However, you may choose to not pay the interest and add it to the principal balance.
  4. Question:  Do I have to repay Unsubsidized Loans?
    Answer:  Yes, you — the borrower – are responsible for interest during the life of the loan.
  5. Question:  When do I request a Parent Plus Loan?
    Answer:  When you are a dependent (aged 24 and under, single, with no children) and do not qualify for enough aid. This loan is based on credit-worthiness.
  6. Question:  What if my parent is turned down for the Parent Plus Loan?
    Answer:  You will automatically be eligible for independent loan limits.
  7. Question:  Is there an eligibility requirement for the HOPE Scholarship?
    Answer:  Eligibility is based on the following:
         – A Household Adjusted Gross Income (AGI) of $36,000 or less;
         – You must be 25 years old or older when starting at Bethel University;
         – You must have not attended any secondary education establishment within the last two calendar years;
         – You must be a Tennessee resident.
  8. Question:  How do I qualify for the HOPE Scholarship?
    Answer:  To qualify, you must meet the following criteria:
         – Complete 12 credit hours at Bethel University
         – Have a Grade-Point Average (GPA) of 2.75 or higher at the end of the 12 hours.
    NOTE:  You must ask about this scholarship once 12 hours have been completed to be considered.
  9. Question:  How do I retain the HOPE Scholarship?
    Answer:  The following conditions must be met:
         – You must not drop below the hours you are originally packaged for, full-time (12+) or part-time (6-11) enrollment status.
         – You must maintain a 2.75 or 3.0 GPA each year.  GPA is dependent on grade level.
  10. Question:  Is there a limit to the amount of Financial Aid a student can receive?Answer:  Yes, the Lifetime Limit for each is as follows:
         – PELL is 600%
         – TSAC is 12 terms
         – HOPE is 5 years and 120 hours
               – Dependent student is $31,000
               – Independent Student is $57,500
  11. Question:  When will I receive my Financial Aid Award?
    Answer:  Dates are determined from when your first class of the term begins. Award Letters are emailed approximately 1 to 2 weeks from beginning of the 1st class: so the disbursement date is approximately 3 to 4 weeks from beginning of 1st class. NOTE:  TSAC and HOPE only come in on the last day of each month.
  12. Question:  How will I receive my Award Letter?
    Answer:  Financial Aid will send it to your Bethel email address.  Bethel University Financial Aid will only correspond through the Bethel email address for privacy issues.
  13. Question:  How much Financial Aid will I receive?
    Answer:  This will be listed on your Award Letter
  14. Question:  When will I receive my refund?
    Answer:  A refund is automatically sent to your bank account on file 14 days after a credit balance is listed on the student’s account.
  15. Question:  What if I want to leave money on my account for future classes instead of receiving a refund?
    Answer:  Federal government regulations require Bethel University to refund money received through Financial Aid 14 days after you have a credit balance.
  16. Question:  What happens to my financial aid if I drop a class?
    Answer:  Financial Aid is recalculated and may result in money being returned.
  17. Question:  What if I have already received a refund and the dropped class requires Financial Aid to return funding?
    Answer:  You will have to pay the balance before you can continue taking classes.
  18. Question:  How can I prevent this from happening?
    Answer:  The easy answer is not to drop any classes, but that is not always possible for working adults.  Another option would be to return money issued by refund to the University to be held on your student account for future classes.
  19. Question:  Where can I find additional information for Financial Aid (Award Limits, Satisfactory Academic Progress, etc.)?
    Answer:  The Student Quick Reference Guide found under the Resource tab of the Home page in VCAMP.
  20. Question:  How do I read my Award Letter?
    Answer:  The Sample Award Letter shows 8 key areas for you to review.
    NOTE:  This is only a SAMPLE; actual award amounts for Grants and Loans will differ with each student.