Important Aid Offer and Award Information

Your financial aid offer is contingent on a number of factors, such as whether you applied and submitted all your required documents on time, whether you have reached your limit on certain aid programs, enrollment status, eligibility for need-based aid, and whether you requested certain types of aid (i.e. work study) on your FAFSA, etc. Apply early every year, on or after October 1 and submit all required documents before the priority deadline. Your aid could be affected in several ways throughout the year: changes in enrollment, reported (by your professor) for non-attendance, stop attending, withdrawing completely, earning all Fs, etc.  Monitor your financial aid account frequently for updates to your status.

Navigate to http://www.memphis.edu/financialaid/eligibility.php and select the appropriate award information (i.e. Graduate, Law, or Undergraduate). The award eligibility page explains various conditions for financial aid award eligibility and adjustments to aid. (e.g. Satisfactory Academic Progress policy, enrollment status, attendance, etc.). Additional information related to your award can be found below. 

Degree Seeking

You must be admitted as a degree-seeking student to receive federal financial aid funds.  If you are pursuing a second Bachelor’s degree, you must declare a new major.

Course Program of Study

To be eligible for federal student aid, you must be taking courses that apply to your major/minor/concentration and apply to your degree program.

Satisfactory Academic Progress

All awards are subject to a review of your academic record at the end of each Fall and/or Spring semester.  If you are not meeting the requirements of our Satisfactory Academic Progress Policy, the aid amount(s) you have been awarded could be canceled.  A notice will be posted on your myMemphis account if you are below the Standards of Satisfactory Academic Progress after the end of the semester (or when our office has knowledge that your cumulative grade point average is below the required minimum).  For more information, refer to our eligibility page. 

Financial Aid Enrollment Status 

Your awards are subject to change based on your enrollment status.  Initial awards are based on full-time attendance (12 undergraduate credit hours, 9 graduate credit hours, and 12 law credit hours).  However, some funds are prorated and disbursed based on actual enrollment.  You should inform our office if you plan to register less than full-time.  In general, you must enroll in at least half time status (6 undergraduate credit hours, 5 graduate credit hours, and 6 law credit hours) in order to receive financial aid.  Audited classes and classes that are not satisfying a degree requirement are excluded from your financial aid enrollment status.

Note:  Enrollment status for Federal Pell Grant recipients (undergraduates only) is based on the number of credit hours enrolled on the census date—the 14th calendar day after the beginning of the term.   If your Federal Pell Grant is credited to your student account and you reduce your enrollment status on or before the 14th calendar day of the term, you may have to repay the funds.  

Class Attendance Required

If you are reported as never attending a class during the first two weeks of a Fall/Spring semester or the first week of a Summer term, your financial aid award may be reduced or cancelled. If you are not planning to attend, you must drop all your classes prior to the first day of the term.

Housing Status

The 2024-2025 FAFSA no longer includes a question regarding your housing status (with Parents, on campus, or off campus). Federal regulations require that we use your housing status to estimate your Cost of Attendance (COA). To do this, the University of Memphis had to make certain assumptions about your housing status to the best of our ability. These assumptions are listed below in the order in which we would apply them.

  • If we have a 2023-2024 FAFSA on file for you, we used your latest housing status from that FAFSA to determine your 2024-2025 housing status.
  • If no 2023-2024 FAFSA is on file and you are an first-time freshman undergraduate student, we assumed your housing status to be on campus.
  • If no 2023-2024 FAFSA is on file and you are an undergraduate student, we assumed your housing status to be off campus.
  • If no 2023-2024 FAFSA is on file and you are a graduate/law student, we assumed your housing status to be off campus.

If our assumption is incorrect, you can request that we update that housing status once a process to submit that request has been developed. NOTE: Changing from on campus to off campus or off campus to on campus will not result in a change in our estimated COA  or additional aid eligibility as these estimated costs are the same. Changing from an on campus OR off campus to with parents will result in a reduction in your estimated COA and likely a decrease if your financial aid eligibility. Please continue to check this page for updates to the process only if you require an update to your housing status. 


Financial aid offers that include the word “estimated” in the name and/or description are estimates based on the data that we have on file at that time. We do this to give you a better idea of what your financial aid package may look like even though we may not have official confirmation of your final eligibility. As we get closer to the fall semester, these estimated offers may be replaced with actual offers once your eligibility is confirmed. Estimated awards will not apply to your account and do not represent a guarantee or promise of an actual award from the University of Memphis. It is the student’s responsibility to ensure they meet all eligibility requirements and resolve any outstanding issues so that we can confirm whether or not you meet final eligibility requirements. 

Memphis Promise

The Memphis Promise Scholarship is a commitment to assist Tennessee residents with funding their college education at the University of Memphis. This is a last-dollar scholarship program that fills the gap between a student’s gift aid (Federal Grants, TN State Grants/Scholarships, and other institutional aid) and the cost of tuition and mandatory fees. This scholarship is initially posted as an estimated offer and will adjust based on the student’s updated aid package. Eligible students whose tuition and fees are covered by other gift aid may not qualify for a final award from this program. NOTE:  Tuition and mandatory fees does not include any room (housing), board (meal plan, including TigerEats), or late fee charges.

Other Resources/Updated Award Information

Your awards are subject to change due to the receipt of other resources such as outside scholarships, fee waivers, tuition discounts, vocational rehabilitation benefits, etc.  The total need-based aid programs plus any other resources cannot exceed your financial need (which is the difference between your total Cost of Attendance and Expected Family Contribution).  The total of need-based and non-need based programs cannot exceed your Cost of Attendance.  Your financial aid award(s) may be adjusted when tuition and fee charges are finalized every July.

University Scholarships

Previous recipients must meet the conditions of their scholarships as stated in your signed scholarship offer letter.  

Tennessee Student Assistance Awards or HOPE Lottery Scholarship

Actual Tennessee Student Assistance Award (TSAA) will be added to your award package if you meet the eligibility requirements when the certification rosters become available from the Tennessee Student Assistance Corporation (TSAC). 

Actual HOPE scholarship awards will be added beginning in January if you meet the eligibility requirements once the certification rosters become available. For more information on the requirements for the HOPE Lottery Scholarship, go to:  http://www.CollegePaysTN.com. 

Any estimated awards for Tennessee programs are provisional and subject to final verification of your eligibility from the University of Memphis and Tennessee Student Assistance Corporation.

Award eligibility is subject to change and final verification at the census point for each term.

Federal Work-Study

If offered Federal Work-Study, the amount shown is the total you are eligible to earn based on hours worked and an agreed upon hourly rate from your employer. The offered amount is will never be credited toward your university charges.  Students utilize the work-study program by finding a job, getting hired, and working on-campus. To look for current job openings, visit the Career Services website. 

Direct Loans

Prior to viewing and accepting/declining your loans, you must ACCEPT the “Terms & Conditions” of your awards. Your loan award amounts are OFFERED on your myMemphis account based on your maximum loan eligibility for your current grade level and/or the cumulative amount of your previous loans.  This is your opportunity to carefully consider the amount of loans that you need based on your anticipated expenses, other resources, and the monthly payments for the cumulative amount of student loans that you have already borrowed. (Refer to the sample repayment chart on the next page.)  Remember that interest begins to accrue from the date of disbursement for unsubsidized loans. 

If you received your first Direct Loan at The University of Memphis, or at another Direct Lending institution less than 10 years ago, then you probably do NOT need to complete a new Direct Loan Master Promissory Note (MPN) for the Fall 2023 semester.  If you are a new Direct Loan borrower for the Fall 2023 semester, you will need to complete an MPN, Entrance Counseling, and Annual Student Loan Acknowledgment online at www.studentaid.gov 

Sample Student Loan Repayment Chart

It is the responsibility of each student to keep up or track the cumulative loans that they have borrowed.  A summary of this information can be found on the National Student Loan Data System.

Your educational borrowing will have an effect on your future lifestyle.  You need to be aware of what your monthly loan payments will be before you commit to a loan amount. The standard loan repayment period is ten years and requires a minimum monthly payment of $50.  There are other repayment plans available. 

               Total Borrowed             Monthly Payment*                   Total Borrowed              Monthly Payment*

                      $    5,000                         $ 61.00                                    $ 31,000                             $ 380.00

                      $  10,000                       $ 123.00                                    $ 50,000                             $ 613.00 

              *To calculate the amount of your monthly payment based on a specific loan amount and repayment plan, use the Direct Loan website:   www.studentaid.gov 

Financial Aid Disbursement

Financial aid is credited to your student account (TigerXpress) and any eligible balance is refunded after fees and other charges are paid. Financial aid balances are either direct deposited to your bank account or mailed to you in the form of a check.  The direct deposit process is done by University and Student Business Services and begins the last business day before the start of classes.  It is highly recommended that you sign up for eRefunds (direct deposit) online through your myMemphis account, under TigerXpress.  Students not signed up for eRefunds will have their checks mailed the Friday after the week that classes start and every Friday thereafter, so it is very important to keep your local address current.  You can update your address via your myMemphis account or through the Registrar’s Office (Room 003, Wilder Tower Basement). Uncashed refund checks are subject to cancellation and may not be reinstated. 

Information on disbursement procedures and dates are available from University and Student Business Services. If your financial aid only partially pays your tuition and fees, you are expected to pay the balance by the fee payment deadline.

Complete Withdrawal

Federal regulations require the reduction of your financial aid if you totally withdraw prior to attending 60% of the term.   The reduction is based on the percentage of the term that you do not attend. The withdrawal can result in you having to repay financial aid funds. Until you repay these funds or make satisfactory repayment arrangements, you cannot receive any future federal financial aid. For more information, refer to http://www.memphis.edu/financialaid/eligibility.php.  

Award Adjustments

The Student Financial Aid Office reserves the right to adjust your awards due to changes in your eligibility and/or the availability of funds.  If an error or omission was made, whether by you, the Student Financial Aid Office, or another organization, federal/state regulations require that the error be corrected and that funds be billed/charged back as necessary. 

Additional Consumer Information

Information about the University of Memphis can be found at : http://www.memphis.edu/financialaid/consumer_info.php.