An undergraduate student is defined as one who has not received a bachelor's or first professional degree in any area. Students seeking a second degree are not eligible. The Tennessee Student Assistance Corporation awards grants to eligible undergraduate Tennessee residents for a maximum of eight semesters. Funds are limited and must be applied for early. Program gives grants to eligible undergraduate students.
Awards depend on the availability of funds.
The Federal Perkins Loan Program provides low-interest rate loans to eligible undergraduate and graduate students. The loan repayment will be made according to the provisions outlined in the promissory note the borrower signs at the time of each disbursement. Repayment cancellations are available for teaching in the field of special education or in an elementary or secondary school designated by the Secretary of Education for such cancellation, for permanent disability, or for serving in the Armed Forces of the U.S. in areas of hostilities. Other deferments and cancellations may be available. The annual loan limit is the student's defined cost of education minus any financial aid received.