Financial Aid FAQs
Frequently Asked Questions about Financial Aid
Undergraduate Enrollment Status
- Full time = 12+ hours
- 3/4 time = 9-11 hours
- Half-time = 6-8 hours
- Less than half-time = 1-5 hours (NOTE: If you are awarded financial aid for full time and drop to 3/4 or part time, you may be billed for overpayment of financial aid.)
- The federal government randomly selects approximately 30 percent of all financial aid application files for verification of data.
- You may be asked to provide the following:
- IRS tax return transcripts for parent and/or student
- Various verification-type worksheets
- The student’s financial aid cannot be finalized until all verification documents are received.
Important Student Financial Aid To Do's
- Read all correspondence sent via mail or AP Mail.
- Avoid procrastination when it comes to financial matters and call or visit the Financial Aid office immediately.
- Check AP Mail daily.
- Refer to our website for important dates and information.
Q. How do I apply for financial aid?
Apply online at www.fafsa.gov as soon as possible after Oct 1. After completing the FAFSA, you may sign electronically or print the signature page. To sign electronically, you must request a PIN (personal identification number) at https://fsaid.ed.gov. If you choose the signature page, it must be completed and mailed to the address provided on the FAFSA application.
It is each student’s responsibility to complete the FAFSA and provide any additional paperwork requested by the Financial Aid Office. Ample time must be allowed to review and finalize the award by the Student Financial Aid Office. Students must reapply each academic year for financial aid.
Q. Do I have to apply for Financial Aid every year?
Yes, the FAFSA must be completed each year.
Q. When should I apply for Financial Aid?
The FAFSA should be completed after Oct. 1 each year. Our priority deadline is Feb. 1 of each year.
Q. How do I apply for the HOPE Lottery Scholarship?
You need to complete the FAFSA by Sept. 1 for the fall term or Feb. 1 for the spring and summer terms. For additional information, please visit: www.tn.gov/CollegePays.
Q. I want to apply for scholarships only. Do I have to fill out the FAFSA?
Only if you are applying for the Tennessee Education Lottery Scholarship (HOPE scholarship) or Tennessee Promise. Please refer to www.apsu.edu/scholarships for additional scholarships, eligibility and application information.
Q. There has been a loss of income since I completed the FAFSA. What should I do?
Please contact our office for further assistance at 931-221-7907.
Q. What happens after I submit my FAFSA?
Your FAFSA is processed by the U.S. Department of Education. If there are problems or errors, the Department of Education and/or the Office of Student Financial Aid will notify you.
Q. My parents are divorced. Which parent should complete the FAFSA?
The custodial parent is responsible for filling out the FAFSA. The custodial parent is the parent with whom you lived with the most during the past 12 months.
Q. If I drop any course(s), how will it affect my financial aid?
It could possibly result in owing money. Check with us before you drop a course.
Q. If I skip a semester in college, how will that affect my financial aid?
You will not receive any financial aid. For example, if you had loans, you will begin using your authorized grace period. Lottery Scholarship recipients must get pre-approval to skip a semester (excluding summer term).
Q. How is financial “need” determined?
Cost of attendance (COA) is determined by the University using rules established by the federal government. The COA may include:
- Tuition and fees
- Allowance for housing and food
- Allowance for estimated transportation expenses
- Allowance for books and supplies
- Allowance for estimated miscellaneous expenses (such as personal expenses). Students receiving any federal and/or state funds cannot receive financial aid greater than their COA minus other aid they are expected to receive (Vocational Rehabilitation, Workforce Essentials, Scholarships, etc.).
Q. Who is eligible to receive financial aid?
To receive aid from any of the federal student aid programs, you must meet all of the following qualifications:
- Be a U.S. citizen or eligible non-citizen with a valid Social Security number.
- Have a high school diploma or a General Education Development (GED) certificate or pass an approved ability-to-benefit (ATB) test.
- Be enrolled or accepted for enrollment in an eligible program as a regular student seeking a degree.
- Register (or have registered) with the Selective Service if you are a male between the ages of 18 and 25. You can give Selective Service permission to register you on the FAFSA. You can also register online at www.sss.gov.
- Have financial need. Financial need is determined by a standard formula established by Congress to calculate your expected family contribution (EFC).
- Meet the Satisfactory Academic Progress standards set by the federal guidelines. For more information, visit https://www.apsu.edu/financialaid/sat_prog.php.
- Certify that you will use federal student aid only for educational purposes (on the FAFSA).
- Certify that you are not in default on a federal student loan and that you do not owe money on a federal student grant (on the FAFSA).
- Maintain at least half-time enrollment status to receive student loans, TSAA or Tennessee Education Lottery (HOPE) Scholarship. Most grants are prorated based on the number of credit hours enrolled.
- Financial aid can not be used to pay for developmental/remedial courses in excess of 30 attempted hours. The policy may be reviewed at the following link: https://www.apsu.edu/financialaid/sat_prog.php.
Q. What is the difference between a subsidized and unsubsidized Direct Loan?
The federal government pays the interest on subsidized loans while the student is enrolled in school at least half-time. With an unsubsidized loan, the interest payments are the responsibility of the student. Students can elect to pay the interest on the unsubsidized loan while in school or choose to let the interest accrue. Arrangements for payment should be made through the student’s loan servicer, not the university.
Q. What is Federal Work Study and how do I qualify?
Federal Work Study is an employment program sponsored by the federal government. You must complete the FAFSA each year and meet the priority published deadline dates as well as the federal eligibility requirements. For additional information, please visit www.apsu.edu/financialaid/fws.
Q. What is Federal Supplemental Education Opportunity Grant (FSEOG)?
FSEOG is a grant funded by the federal government for undergraduate, degree-seeking students with exceptional financial need. You must meet the priority published deadline dates as well as the federal eligibility requirements. In order to apply, you must complete the FAFSA. Please note that funding is limited.
Q. I am confused with the financial aid process; with whom would I speak?
General questions will be answered by any of our staff. If you have unusual circumstances or need more specific information, you will be referred to a counselor.
Q. Where is the Financial Aid Office located at Austin Peay State University?
Ellington Student Services Building, 2nd floor, Room 216.
Q. How can I check my financial aid status?
We encourage students to check their status on AP OneStop. You can also call our office at 931-221-7907 or toll free at 1-877-508-0057.