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Determining Financial Need
When applying for federal student aid, the information provided on the FAFSA is used in a formula, established by the U.S. Congress, that calculates an Expected Family Contribution (EFC). The EFC is used in an equation to determine financial need.
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Cost of Attendance
(as determined by the institution)
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-
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Expected Family Contribution
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-
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Other Financial Assistance *
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=
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Financial Need
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* Other financial assistance includes: any scholarships, fee waivers, vocational rehabilitation benefits, veterans benefits, etc.
Cost of Attendance
An estimate of expenses for education such as tuition, fees, room, board, books, supplies, and other related expenses.
Expected Family Contribution (EFC)
The amount expected to be available for your educational expenses. The EFC is calculated from income, asset information, household size, and number in college. If you are dependent, the EFC is a student and parent contribution. If you are independent, the EFC is a student (and/or spouse) contribution.
| 2009-2010 Cost of Attendance - Undergraduate |
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BUDGET
Fall/Spring (combined)
(based on full-time enrollment*)
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Undergraduate
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With Parents
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On
Campus
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Off
Campus
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IN-STATE
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Fees
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$6,458
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$6,458
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$6,458
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Books/Supplies
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$1,200
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$1,200
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$1,200
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Room/Board
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$3.082
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$7,350
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$8,002
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Transportation
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$1,902
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$1,902
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$1,902
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Misc./Personal
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$2,499
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$2,499
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$2,499
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TOTAL
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$15,141
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$19,409
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$20,061
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OUT-OF-STATE
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Fees
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$19,178
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$19,178
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$19,178
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Books/Supplies
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$1,200
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$1,200
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$1,200
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Room/Board
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$3,082
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$7,350
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$8,002
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Transportation
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$1,902
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$1,902
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$1,902
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Misc./Personal
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$2,499
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$2,499
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$2,499
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TOTAL
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$27,861
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$32,129
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$32,781
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*undergraduate - 12 undergraduate credit hours.
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| 2009-2010 Cost of Attendance - Graduate |
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BUDGET
Fall/Spring (combined)
(based on full-time enrollment*)
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Graduate
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With Parents
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Off
Campus
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IN-STATE
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Fees
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$8,168
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$8,168
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Books/Supplies
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$1,200
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$1,200
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Room/Board
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$3.082
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$8,731
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Transportation
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$1,902
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$1,902
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Misc./Personal
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$2,499
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$2,499
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TOTAL
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$16,851
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$22,500
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OUT-OF-STATE
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Fees
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$19,004
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$19,004
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Books/Supplies
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$1,200
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$1,200
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Room/Board
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$3,082
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$8,731
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Transportation
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$1,902
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$1,902
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Misc./Personal
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$2,499
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$2,499
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TOTAL
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$27,687
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$33,336
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*graduate - 9 graduate credit hours, graduate assistants - 12 graduate credit hours.
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| 2009-2010 Cost of Attendance - Law |
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BUDGET
Fall/Spring (combined)
(based on full-time enrollment*)
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Law
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With Parents
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Off
Campus
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IN-STATE
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Fees
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$13,570
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$13,570
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Books/Supplies
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$1,700
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$1,700
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Room/Board
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$3.082
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$8,731
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Transportation
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$1,902
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$1,902
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Misc./Personal
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$2,499
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$2,499
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TOTAL
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$22,753
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$28,402
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OUT-OF-STATE
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Fees
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$35,442
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$35,442
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Books/Supplies
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$1,700
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$1,700
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Room/Board
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$3,082
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$8,731
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Transportation
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$1,902
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$1,902
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Misc./Personal
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$2,499
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$2,499
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TOTAL
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$44,625
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$50,274
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*law - 12 undergraduate credit hours.
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Satisfactory Academic Progress Policy
All students who receive federal or state financial aid must be enrolled in a program leading to a degree and must meet federal and institutional standards for academic progress in order to establish and retain aid eligibility. Students receiving athletic or other university administered awards must also meet the satisfactory academic progress standards that have been established by the awarding entity.
Academic progress for federal and state financial aid programs is based on three measures: cumulative grade-point average, completion rate based on credit hours completed compared to attempted, and a maximum timeframe for degree completion. The following describes the university's standards for each of these three measures, and how these standards are reviewed:
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Cumulative Grade-Point Average
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Undergraduate students - The following standards apply to the combined transfer/university cumulative GPA. Students must meet the following minimums which are consistent with the University's standard as published in the Undergraduate Bulletin. Quality hours are those credits used to compute the grade-point average including grades of A, B, C, D, or F and transfer credits with a grade of incomplete. The first attempt of a course that is repeated is excluded from the quality hour computation.
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Quality Hours
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Minimum GPA
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14.99 or less
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No Minimum
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15.00 - 29.99
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1.40
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30.00 - 50.99
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1.70
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51.00 - 67.99
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1.90
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68 +
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2.00
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- Law Students - must maintain a 2.0. cumulative GPA to receive loans or work-study.
- Graduate Students - must maintain a 3.0 cumulative GPA to receive loans or work-study.
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Completion Rate
All students are required to complete a minimum of 66% of the credit hours attempted at The University of Memphis. Courses with a grade of "D" or better count as completed. Credit hours attempted include audits, incompletes, withdrawals, and repeated or failed classes. Students who complete less than 66% of the credit hours attempted will be suspended from eligibility for grants, loans, and Federal Work-Study employment.
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Maximum Timeframe
- Undergraduates - The maximum timeframe for the completion of a first degree is limited by federal regulations to 150% of the published length of the degree program. Most undergraduate programs at The University of Memphis are 120 hours. The maximum number of hours during which a student is eligible to receive financial aid is 180. The 180 hours includes transfer hours and all attempted hours. Credit hours attempted include audits, incompletes, withdrawals, and repeated or failed classes. Up to 30 hours of required remedial/ developmental courses are excluded from the maximum timeframe.
- Law Students - The maximum timeframe is determined by the degree completion requirements listed in the Cecil C. Humphreys School of Law bulletin.
- Graduate Students - The maximum timeframe is determined by the degree completion requirements listed for the student's academic program in the Graduate Bulletin.
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Review of Progress Standards
- GPA - is reviewed upon submission of a financial aid application and annually at the end of each spring semester.
- Completion Rate - is reviewed annually at the end of each spring semester.
- Timeframe - is reviewed at the end of each fall and spring semester, and at the end of the summer sessions.
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Notification/Appeals
Students whose financial aid eligibility is suspended as a result of failure to meet one or more of the standards of satisfactory academic progress will notified by the Student Financial Aid Office. In order for an appeal to be approved, it must be based on extenuating circumstances and be documented. For the GPA and completion rate standards, students can also restore their aid eligibility by improving their academic performance enough to meet the standard.
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Financial Aid Fresh Start
Students accepted under the Academic Fresh Start Program will have their GPA's reviewed based only on courses completed at The University of Memphis.
Aid Adjustments
Your financial aid award, particularly Pell Grants, will be adjusted for the following reasons:
- Enrollment status is verified on that last day of the drop/add period for each semester. If you drop or add classes by this date, your Pell Grant and TSAA grants will be adjusted accordingly.
- Professors report non-attendance for any classes, so your aid will be adjusted if you do not attend any one of your classes (assuming the hours adjustment actually changes your grant eligibility.)
- Receiving Pell Grant or Loans at two different colleges during the same academic year, which exceeds the total maximum limit for that year.
- Any aid may be adjusted, if you totally withdraw before the federal deadline to withdraw and you may have to repay the aid you did not earn. See more detailed information under the Refund Section.
- Lottery awards are adjusted based on hours enrolled on the census date for each semester.
- Direct Student loans and/or other student financial aid awards may be adjusted to prevent over award situations due to the receipt of either a fee discount, tuition aid, outside scholarship, change in residency classification, or similar assistance.
Return of Funds and Refunds
REFUND:
- The Higher Education Amendments of 1998 established the concept that financial aid must be earned through class attendance. A student has not earned 100% of their financial aid until he/she has attended more than 60% of the term. If a financial aid recipient totally withdraws on or before the 60% point of the term, there is a portion of the aid that has not been earned. The unearned portion is repaid by both the student and the school based on a federal formula. The school can use any refund generated by the withdrawal to pay the portion it owes back. However, depending on the time of withdrawal, the student may also be responsible for repaying a portion of his/her fees that had been previously paid by the financial aid.
- The amount each student owes must be calculated based on the date of withdrawal, the amount of financial aid received, and the programs of financial aid received.
- The Higher Education Amendments of 1998 specify the following order in which any unearned amounts are to be returned to Title IV financial aid programs: Federal Direct Student Loan Programs (unsubsidized then subsidized); Federal Perkins Loan Program; Federal Direct PLUS loans; Federal Pell Grant Program; Federal SEOG Program; any other programs funded by Title IV including the Tennessee Student Assistance Program; other federal, state, private or institutional aid programs. Any amount remaining after the applicable programs have been fully repaid is returned to the student.
- Refund applicable to non-Title IV funds will be distributed to the respective aid accounts in the same proportion as the aid awarded.
- A 100% refund will be given in the event of death.
REPAYMENT:
- When a student receives financial aid and one of the following situations occur: (a) the student is issued a contingency fee assessment that is not honored by the fund agency involved; (b) the student receives an overpayment due to non-eligibility or administrative error; (c) the student withdraws before the start of classes or fails to pay tuition/maintenance fees, the student must repay the total amount of aid received or overpaid.
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