Types of Aid
A. SCHOLARSHIPS
Scholarships do not have to be repaid.
Milligan Scholarships and Other Awards
Substantial merit and need-based academic and athletic scholarship aid is awarded annually to both incoming and currently enrolled students. Many of these scholarships have been made possible through contributions from alumni, parents, faculty, staff, businesses, foundations, corporations and friends of the college. These scholarships and other awards are determined by the Scholarship Committee and/or Student Financial Services and are credited directly to the student's account. Click here for a complete list of Milligan scholarships and awards.
Academic Scholarships: Awards are based on the applicant's ACT/SAT and high school GPA (or previous college GPA for transfer applicants). Awards range from $3,500 to $10,000 and are given at either the Presidential, Academic Dean, or Alumni & Friends level (students are eligible for one level only and not a combination). Awards are made immediately following the student's admission to the college and will also appear on the Award Letter. For more information, contact your Admissions Counselor.
Non-Milligan Assistance (NMA) and Outside Scholarships
These are scholarships awarded to the student by an outside source. These scholarships are credited directly to the student's account. Receipt of any outside scholarship may reduce the total award package per federal regulations. You are required to report outside scholarship awards to Student Financial Services. Report the annual amount of the scholarship on your award letter. If you are searching for private scholarships, be sure to use a reputable source (you should never have to pay for scholarship information — beware of scams). Reputable sources we recommend include www.fastweb.com, www.ecampustours.com, and www.offtocollege.info. Click here for more details.
Tennessee Education Lottery Scholarship Program (TELS)
This is gift aid and does not require repayment. Only eligible Tennessee residents may receive scholarships through the TELS/HOPE Program. You may check with the state agency at www.CollegePaysTN.com to review eligibility criteria. Funds for this program will be received by the college through electronic funds transfer (EFT) each semester, and the scholarship will be credited to your student account in two equal disbursements during the academic year. Click here for more details.
B. GRANTS
Grants are based on financial need and do not have to be repaid.
Milligan College Grant
This is need-based gift aid that does not have to be repaid. It is determined primarily from financial need and awards are made on the basis of criteria established by the college. Awards range up to $3,000 annually and are credited directly to the student's account. Click here for more details.
Federal Pell Grant
This is gift aid and does not have to be repaid. Eligibility for this award is determined by a formula consistently applied to all applicants which takes into account the cost of attending the institution and the student's part or full-time status. It is based on results of information submitted on the FAFSA. Annual awards currently range from $400 to $4,731 (subject to change, per Department of Education). One-half of your annual Federal Pell Grant award will be credited to your student account each semester. Click here for more details.
Federal SEOG Grant (Federal Supplemental Educational Opportunity Grant)
This is gift aid and does not have to be repaid. This federal aid is available to students with exceptional financial need. Priority is given to Pell Grant recipients. Grants range from $250 to $1,000 annually. One-half of your annual Federal SEOG award will be credited to your student account each semester. Click here for more details.
ACG (Academic Competitiveness Grant) Program/ SMART Grant (National Science and Mathematics Access to Retain Talent)
Both of these grants are for Pell-eligible full-time undergraduate students. These grants are gift aid and do not have to be repaid. The ACG is awarded to students in their first or second year, and the award may be up to $750 for the first year and $1,300 for the second year. A final high school transcript must be received by Milligan College before the ACG can be awarded. The SMART Grant is awarded to third and fourth year students majoring in math, science, technology, engineering or a critical foreign language. The SMART Grant may be up to $4,000 for the academic year. One-half of your annual ACG or SMART Grant will be credited to your student account each semester. Click here for more details.
Tennessee Student Assistance Award (TSAA)
This is gift aid and does not require repayment. Only Pell-eligible Tennessee residents may receive this grant. If you are not a Tennessee resident, you may check with the Higher Education Agency in your state to see if your state's tuition grant can be transferred to Tennessee. TSAA Grant funds will be received by the college through electronic funds transfer (EFT) each semester, and the grant will be credited to your student account in two equal disbursements during the academic year. Click here for more details.
C. LOANS
Loans must be repaid, with interest.
Federal Perkins Loan
Federal Perkins Loans are need-based and must be repaid. This low interest (5%) loan requires you to begin repayment 9 months after you cease half-time enrollment status. No interest or repayment is required while the student is enrolled in at least half-time enrollment status. This loan requires that Entrance Loan Counseling be completed for all borrowers and Exit Loan Counseling for all borrowers who are graduating or not returning to Milligan. After signing a Federal Perkins Loan Master Promissory Note, one-half of your annual Federal Perkins Loan award will be credited to your student account each semester. Click here for more details.
Federal Stafford Loans: Subsidized and Unsubsidized
Federal Subsidized and Unsubsidized Stafford Loans must be repaid. The Subsidized loans are need-based and the government pays the interest while the student is in college. The Unsubsidized loan is available to all students and the interest accrues while the student is in college. These loans require Entrance Loan Counseling for all first time borrowers and Exit Loan Counseling for all borrowers who are graduating, not returning to Milligan, or have dropped below at least a half-time enrollment status. Your loan funds will be received by the college via electronic funds transfer (EFT). Stafford loans are disbursed in two equal disbursements for the academic year. You will receive a notification indicating the amount of loan that has been credited to your account and a notice giving you the opportunity to reduce and/or cancel the loan in writing within 14 days of receiving your notification. Please refer to information regarding loan terms, interest, repayment and deferments listed in another section of this booklet. Click here for more details.
Federal Parent Loan for Undergraduate Students (PLUS)
and Graduate Students
A Federal PLUS Loan is a credit-based loan for parents of undergraduate students and for graduate students. It must be repaid. Graduate students may benefit from using the PLUS loan as opposed to an alternative loan because students may not qualify for an alternative loan based on credit history, or the interest rate may be higher than the 8.5% PLUS Loan interest rate. The Graduate PLUS Loan requires Entrance Counseling for all first-time borrowers and Exit Loan Counseling for all borrowers who are graduating, not returning to Milligan, or who have dropped below at least half-time enrollment status. If you need assistance in determining the amount to borrow, please contact Student Financial Services. If you borrow through the PLUS Loan Program, your loan funds will be received by the college, via electronic funds transfer (EFT) and the proceeds will be disbursed directly to the student's account in two equal disbursements for the academic year. Click here for more details.
D. WORK PROGRAMS
Federal Work Study
This program provides part-time jobs on-campus for students with financial need as established by the FAFSA. Students are paid the current federal minimum wage. The maximum amount a student may earn (award amount) depends on financial need and the amount of funding the College has for the program. The Student Financial Services Office determines monetary awards. The Personnel Director assigns positions. Wages are paid bi-monthly based on hours worked and are paid directly to the student (they will not be credited to the student's account).
Milligan College Work Study
This program provides part-time jobs on-campus for students who do not qualify for the Federal Work Study Program. Students are paid the current federal minimum wage. The maximum amount a student may earn (award amount) depends on the amount of funding the college has for the program. The Student Financial Services Office determines monetary awards. The Personnel Director assigns positions. Wages are paid bi-monthly based on hours worked and are paid directly to the student (they will not be credited to the student's account).
Where is Financial Aid available?
Milligan Grants & Scholarship Programs
| Available Assistance |
Award Criteria |
Amounts Available |
| Honors Scholarships |
Milligan's most prestigious merit-based scholarships. To be eligible for these scholarships, applicants must be admitted to the College by December 31. Late applicants will be considered if funds are still available. |
Award amounts range from $10,000 to $20,000 annually. |
| Academic Scholarships |
Awards are based on the applicant's ACT/SAT and high school grade point average or previous college GPA (transfer applicants). |
Award amounts range from $3,500 to $9,000 annually. |
| Milligan College Grants |
Need-based and determined primarily from financial need. Awards made on the basis of criteria established by the College administration. |
Up to $3,000 annually. |
| Fine Arts Scholarships |
Based on the applicant's ability in theatre or art and the discretion of the respective faculty representative. |
Award amounts vary. |
| Music Scholarship |
Based on the applicant's ability in music and the discretion of the respective faculty representative. |
Award amounts vary. |
| Area Outstanding Student Scholarships |
Upperclassmen in each academic area. Based on student's overall GPA and individual promise in designated major. |
Award amounts vary. These are one-year awards. |
| Athletic Scholarships |
Minimum requirements: Accepted for admission and selected by coach. Scholarships available for Basketball, Baseball, Softball, Volleyball, Tennis, Cross-Country, Track and Field, Golf, Soccer, Swimming, and Cheerleading. |
Award amounts vary based on the sport and the student's athletic ability.
If combined with other scholarship awards the total award for an individual student may not exceed $13,000. |
| Betty Goah Scholarship |
Awarded to traditionally under-represented ethnic minority students from Tennessee with U.S. citizenship or or permanent U.S. residence. Must have 3.0 overall GPA; Minimum 21 ACT (980 SAT).
For more information or to complete the application process, please go to Betty Goah Scholarship application.
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Scholarship covers balance of tuition, room, and board not covered by federal and/or state grant aid or outside scholarships. |
| NACC Bible Bowl Scholarship |
Any member of the first or second place Bible Bowl Team at the North American Christian Convention. Also awards to the top 20 scorers on the Individual Achievement Test. Must maintain 2.5 GPA. |
Varying award amounts to Achievement Test top scorers. |
| College Personnel Grant |
Individuals employed by the College for at least one year and their dependents (spouse and children). Must maintain a 2.0 GPA. |
Up to full tuition for bachelor's degree programs. |
| Milligan College Work-Study Employment |
Full-time (12 credit hours) students who desire work and meet eligibility requirements. |
From $820 to $1,640 annually. |
| Institute for Servant Leadership Scholarships |
The purpose of the Institute for Servant Leadership Scholarship is to prepare a new generation of leaders for the church and society. The ISL Scholarship program is designed to help students discern their own individual calling through faith, service and leadership. Specific scholarship requirements include 15 hours of community service per semester, support of ISL programming, completion of the Introduction to Leadership class, and a written reflection each semester. Please see your admissions counselor to be considered for the ISL scholarship. |
Awards vary annually. |
State Programs - see www.CollegePaysTN.com or www.state.tn.us/tsac/
| Available Assistance |
Award Criteria |
Amounts Available |
State Grant
(TN*) |
Must be eligible to receive Federal Pell Grant. Money that does not have to be repaid. |
*Up to $4,644 per year for incoming students and up to $5,538 for students who have received the grant in this amount in a previous year. |
| Tennessee Teaching Scholars Loan Forgiveness Program |
Tennessee resident, US citizen. Applicant cannot be a licensed teacher or receive the scholarship while employed in a teaching position. College juniors, seniors, and post-baccalaureate students admitted to a teacher education program at an eligible Tennessee postsecondary institution. Undergraduate students must be enrolled full-time, graduate students at least half-time.
Application deadline April 15. |
Up to $4,500 with a maximum of 4 years eligibility. Loan forgiveness has an employment obligation. |
| Tennessee Math & Science Teacher Loan Forgiveness Program |
Tenured Tennessee public school teacher seeking certification or advanced degree in math or science. |
Information about this program is available at www.CollegePaysTN.com. Loan forgiveness requires an employment obligation. |
| Robert C. Byrd Honors Scholarship |
Tennessee resident and U.S. citizen or permanent resident who is an entering with an unweighted 3.5 high school GPA or GED score of 570 or entering freshman with at least a 3.0 high school GPA with at least a 24 ACT or 1090 SAT. Must be used immediately following high school graduation or receipt of a GED.
Application deadline March 1 |
Award amount based on Federal funding; renewable for a total of 4 undergraduate years. |
| Ned McWherter Scholars Program |
Tennessee resident and U.S. citizen who is an entering freshman with an unweighted 3.5 high school GPA and a 29 ACT or 1280 SAT.
Application deadline February 15 |
Up to $6,000 per year for a maximum of four years at an eligible Tennessee post secondary institution. |
| Minority Teaching Fellows Loan Forgiveness Program |
Minority Tennessee resident and U.S. citizen who is an entering freshman with a 2.75 high school GPA and at least 18 on ACT or 850.
Continuing college student with a college GPA of 2.75.
Application deadline
April 15 |
$5,000 per academic year; Renewable for a total of 4 undergraduate years; Loan forgiveness has an employment obligation.. |
| Christa McAuliffe Scholarship |
Tennessee resident and U.S. citizen who is enrolled full-time and admitted to a teacher education program at an eligible Tennessee post secondary institution.
Application deadline
April 1 |
Award amount based on funding but may not exceed $500. |
| Dependent Children Scholarship Scholarship |
Dependent children of law enforcement officers, firemen, or emergency medical technicians who were killed or permanently disabled in the line of duty while employed in Tennessee. Must be a Tennessee resident or U.S. citizen. Must be enrolled full-time as an undergraduate student at an eligible Tennessee postsecondary institution.
Application deadline
July 15 |
Award amount based on state funding and student's direct cost; coordinated with other aid; renewable for four undergraduate years.. |
TN Education Lottery Scholarship Programs
| Available Assistance |
Award Criteria |
Amounts Available |
| Tennessee HOPE Scholarship |
Tennessee resident by September 1 of senior year in an eligible high school . First-time applicants must be entering freshman. Student must must be admitted to and enrolled at least half-time in a an eligible Tennessee public postsecondary institution no later than 16 months following graduation from high school, home school or GED Program. Minimum unweighted 3.0 GPA or 21 ACT / (980 SAT). Home school graduates: 21 ACT / (980 SAT); GED students or must have minimum 525 GED and 21 ACT /980 SAT). Renewal criteria: must have cumulative GPA of 2.75 after 24 attempted hours; must have a minimum cumulative GPA of 3.0 after 48,72,96, and 120 attempted semester hours. |
Up to $4,000 per year at an eligible four-year Tennessee postsecondary institution; up to $2,000 at an eligible two-year Tennessee postsecondary institution (not to exceed cost of attendance). Awards to part-time students are prorated. Scholarship awards based on available funding from State Lottery. |
General Assembly
Merit Scholarship |
Must be HOPE eligible. Minimum weighted 3.75 GPA and 29 ACT/ (1280). Home school students must complete 12 college credit hours (at least 4 courses) with a minimum of 3.0 GPA at a Tennessee College or University while they are enrolled in a home school program. Renewal criteria: Same as Tennessee HOPE Scholarship. |
$1,000 supplement to the Tennessee HOPE Scholarship. Scholarship awards based on available funding from State Lottery. |
| Aspire Award |
Must meet HOPE Scholarship requirements and parents' or independent student's and spouse's adjusted gross income must be $36,000 or less on the IRS tax form . Renewal criteria: Same as Tennessee HOPE Scholarship. Student may receive either Aspire Award or General Assembly Merit Scholarship (GAMS), but not both. |
$1,500 supplement to the Tennessee HOPE Scholarship. Scholarship awards based on available funding from State Lottery. |
Tennessee HOPE
Access Grant |
Minimum unweighted 2.75 GPA and 18 -20 ACT / (860 -970 SAT) . Parents' adjusted gross income of $36,000 or less (dependent student) or student (and spouse) or independent student's and spous e' s adjusted gross income of $36,000 or less. Non-renewable. May be eligible for Tennessee HOPE Scholarship in the second year by meeting HOPE Scholarship renewal criteria. |
$2,650 at an eligible four-year Tennessee postsecondary institution; $1,700 at an eligible two-year Tennessee postsecondary institution. Scholarship awards based on available funding from State Lottery. |
APPLICATION PROCESS FOR
THE TENNESSEE EDUCATION LOTTERY SCHOLARSHIP PROGRAMS |
Submit Free Application for Federal Student Aid (FAFSA) after January 1. Available online at www.fafsa.gov. Application priority date is May 1. Applications MUST be received by Seotenber 1 for the Fall semester and February 1 for the Spring semester. Early application recommended. To renew award, complete renewal FAFSA. each year. |
*For additional or the most current information specific to the Tennessee Education Lottery Scholarship Program(s), contact Tennessee Student Assistance Corporation at 800.342.1663 or www.CollegePaysTN.com OR contact the Milligan College Student Financial Services Office at 800.447.4880.
*For additional information specific to the renewal criteria and/or the appeal process, particularly due to loss of the Tennessee Education Lottery Scholarship(s), based on renewal criteria, contact the Student Financial Services Office at 800.447.4880.
Federal Programs
| Available Assistance |
Award Criteria |
Amounts Available |
| *Federal Pell Grant |
Based on results of information submitted on the Free Application for Federal Aid (FAFSA) and Federal Methodology. Need based federal grant. |
Awards range from $400 to $4,310 |
| **Academic Competitiveness Grant Program |
U.S. citizen; Federal Pell Grant recipient; enrolled full-time in a degree program; enrolled in the 1 st or 2 nd academic year of program of study. Must have completed a rigorous secondary program of study (after Jan. 1, 2006, if a first year student, and after Jan. 1, 2005, if a second year student. Must have at least a 3.0 on a 4.0 scale for the first academic year. |
$750 for the first academic year of study; $1,300 for the second academic year of study |
| **National SMART Grant Program |
U.S. citizen; Federal Pell Grant recipient; enrolled full-time in a degree program; enrolled in a 4 year degree granting institution; major in physical, life, or computer science, engineering, mathematics, technology, or a critical foreign language; and have at least a cumulative 3.0 GPA on a 4.0 scale in the coursework required for the student's major. |
$4,000 for each of the third and fourth years of study |
| Federal Supplemental Education Opportunity Grant (FSEOG) |
Students must have exceptional financial need. Priority given to Pell Grant recipients. Need based federal grant. |
Awards based on federal funding level. Generally range from $250 to $1,000 annually |
| Federal Work Study |
Undergraduate students who are enrolled at least half-time who desire work and meet the eligibilty requirements. |
From $820 to $1,640 annually. |
| Federal Perkins Loan |
Low interest (5%) loan for students with exceptional need. Repayment beginning 9 months after ceasing to be enrolled less than halftime. |
Awards based on federal funding level. Generally range from $500 to $2,000annually |
Federal Stafford Student Loan Programs
Subsidized and Unsubsidized |
Must indicate on your award letter your intent to borrow
Must complete a Master Promissory Note (MPN)
Subsidized —Need based, government pays interest while student is in college.
Unsubsidized —Available to all students, not need-based. Interest accrues while student is in college. |
Annual Loan Limits
$3,500–Dependent 1st Yr. Students
$7,500–Independent 1st Yr. Students
$4,500–Dependent 2nd Yr. Students
$8,500–Independent 2nd Yr. Students
$5,500–Other Dependent Undergraduates
$10,500–Other Independent Undergraduates
$20,500–Graduate or Professional Students |
| Federal Parent PLUS Loan for Undergraduate Students or PLUS Loan for Graduate Students |
Low cost parent and graduate student loan program, not need-based. Minimum monthly payment $50. Repayment begins within 60 days after loan is disbursed. |
Cost - Financial Aid = Annual Eligibility |
Private Scholarships
Be sure to use a reputable source, such as one of the following (You should never have to pay for scholarship information -- beware of scams).
Reputable sources:
www.fastweb.com
www.ecampustours.com
www.offtocollege.info
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