Students seeking financial aid from any source must complete the Free Application for Student Aid (FAFSA) at studentaid.gov/h/apply-for-aid/fafsa. The application determines a student’s eligibility for all federal aid programs, for state aid from the Tennessee Student Assistance Corporation (TSAC), and for LeMoyne-Owen Scholarships. Students applying for a LeMoyne-Owen Scholarship must also complete a separate College Scholarship application.
To complete the FAFSA, applicants must have an FSA ID (a username and password). Parents and Contributors, even those who do not have a Social Security Number will need to have an FSA ID. If you do not already have an FSA ID, you can create one in studentaid.gov. The FSA ID will be used for several financial aid processes, including your renewal application each year. The LeMoyne-Owen College school code is 003501.
Applying for Financial Aid
LeMoyne-Owen College Administers the federal and state aid programs listed below.
Pell Grants are considered the foundation of federal financial aid. The Federal Pell Grant is awarded only to undergraduate students who have not previously earned a bachelor’s degree, graduate, or professional degree. The amount awarded depends not only on financial aid as determined by your Student Aid Index (SAI) but also on costs to attend the school, enrollment status and plans to attend for a full academic year or less.
Federal Supplemental Education Opportunity Grants (FSEOG)are available for students with exceptional financial need. Renewal of the FSEOG is contingent upon maintaining a Satisfactory Academic status, reapplication of the FAFSA, continued financial need, and federal pell grant eligibility. Awards are made up to $4,000 per academic year for eligible students. To learn more about FSEOG, please visit https://studentaid.gov/understand-aid/types/grants/fseog
The Federal Work-Study Program (FWS) is a federally funded need-based work program that allows students to receive a Federal Work-Study award as part of their financial aid package. FWS is made available to the College to provide part-time employment for students with financial aid. Awards are made up to $4,000 per academic year to eligible students. To learn more about FWS, please visit https://studentaid.gov/understand-aid/types/work-study
The Federal Direct Loan program is funded by the U.S Department of Education and consists of a Direct Subsidized Loan, Direct Unsubsidized Loan, and Federal PLUS Loans.
Federal Direct Subsidized Loans: Direct Subsidized Loans are for students with financial need, as determined by federal regulations. No interest will be charged while you are in school at least half-time and during a period of deferment.
Federal Direct Unsubsidized Loans: Direct Unsubsidized Loans are not based on financial need. Interest begins on the date the loan is received.
Federal Parent PLUS Loan: A Federal Parent PLUS loan is intended for parents of dependent students enrolled at least half-time in a degree-seeking program. While financial need is not a requirement, a credit check is mandatory. The loan amount is capped at the student’s cost of attendance minus other financial aid. Parents can apply for the PLUS loan at https://studentaid.gov/plus-app/parent/landing.
Loan Requirements
Eligible students may receive a loan as part of their financial aid offer, which they can choose to accept or decline. To be eligible for a Federal Direct Loan, students must complete the Free Application for Federal Student Aid, be enrolled at least half-time, and complete the following requirements:
Entrance Counseling (EC) – A tool to ensure you understand your obligations to repay the loan. https://studentaid.gov/entrance-counseling
Approved Parent PLUS Loan borrowers must complete the Master Promissory Note
Federal Direct Loans Aggregate Limits
The following chart shows the annual and aggregate limits for subsidized and unsubsidized loans.
College Year
Dependent Students
Independent Students and Dependent Students whose Parents are denied PLUS loans
Freshman – Annual Limit
$5,500 – No more than $3,500 can be in Subsidized Loans
9,500 – No more than $3,500 can be in Subsidized Loans
Sophomore -Annual Limits
$6,500 – No more than $4,500 can be in Subsidized Loans
$10,500 – No more than $4,500 can be in Subsidized Loans
Junior/Senior – Annual Limits
$7,500 – No more than $5,500 can be in Subsidized Loans
$12,500 – No more than $5,500 can be in Subsidized Loans
Maximum Lifetime Limits
$31,000 – No more than $23,000 can be in Subsidized Loans
$57,500 – No more than $23,000 can be in Subsidized Loans
Loan Fees
Most federal student loans have loan fees. These fees are a percentage of the loan amount. A loan fee comes out of the amount of money disbursed (paid out) to you while you are in school. Your responsible for repaying the entire amount you borrowed and not just the amount you received. Below are the current loan fees.
Direct Subsidized Loans and Direct Unsubsidized Loans
Direct PLUS Loans
On or after 10/1/20 and before 10/1/241.057%
On or after 10/1/20 and before 10/1/244.228%
Interest Rates
The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan. The tables below provide interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Parent PLUS Loans.
Interest rates for Direct Loans first disbursed on or after July 1, 2023, and before July 1, 2024.
Loan Type
Borrower Type
Fixed Interest Rate
Direct Subsidized Loans and Direct Unsubsidized Loans
Tennessee Student Assistance Awards (TSAA) provides non-repayable financial assistance to undergraduate students who are residents of Tennessee, demonstrate financial need as determined by the FAFSA, and enrolled at least half-time in Tennessee colleges and universities. For more information on TSAA and eligibility, please visit https://www.collegefortn.org/
The Tennessee Education Lottery Scholarship program is intended to provide scholarship funds to offset costs associated with pursuing postseason education. The Lottery Scholarship program includes the HOPE Scholarship, Aspire Award, General Assembly Merit Scholarship (GAMS), Access Grant and the Non-Traditional Hope Scholarship.
Veteran’s Educational Benefits are maintained in the Veterans Affairs. The designated “certifying official” of the College cooperates with the Veterans Administration in providing educational opportunities for veterans and eligible persons under the appropriate laws. The office is responsible for maintaining veterans’ needs related to educational benefits, providing information for counseling and tutorial assistance to eligible persons on campus. Upon accepting veterans’ educational assistance, the student assumes responsibility for all rules and regulations of the Veterans Administration.
Veterans wishing to apply for educational benefits (except for students who transfer from regionally accredited schools) must submit high school/GED transcripts and/or transcripts from accredited colleges attended. All veterans and Guard/Reserve recipients must submit a DD-214 copy to the Records Office for transfer credit evaluation. These documents must be submitted within the first semester of attendance or further registration for courses will not be permitted.
The VA Form 22-1990 and 22-1999, Veterans Application for Program of Education or Training and Enrollment Certification, must be completed. Reserve and Guard benefit recipients must submit DD Form 2384 (NOBE) and a DD-214 form. Proper application forms for disabled veterans or sons/daughters, widows/widowers, wives/husbands of veterans are available in the Veterans Affairs Office. Most benefits and regulations also apply to eligible dependents.
VA regulations forbid a veteran from repeating a course that has been transferred from another school. Veteran students should not take a course that is not listed in the catalog or program of study under the major curriculum even though they are not counting it for VA benefits. Veterans may not be certified for a course for which they have received an “I” grade unless the “I” converts to a quality letter grade. Veterans may repeat courses with pay only if the previous grade was an “F.” Veterans should consult with the Veterans Affairs Office certifying official prior to changing course load or majors and then verify the actual change.
Regular attendance is required to receive veterans benefit pay. Instructors are required to report non-attendance of veterans to the Veterans Affairs Office, which reports non-attendance to the Veterans Administration regional office. Payments are adjusted or canceled if attendance is not regular.
The Veterans Administration regional may be contacted toll-free by calling 1-800-827-1000. Veteran benefits recipients may also use the Department of Veteran Affairs web site to address benefits concerns or to find current regulation information. https://www.va.gov/education/
Reserve Officer Training Corp (ROTC) Scholarships are available to students who participate in either the United States Air Force, Army or Navy “Crosstown” programs based at the University of Memphis. Students admitted to these programs are committed to a period of service after graduation and compete for scholarships meeting most of the costs of their education.
Scholarships
LeMoyne-Owen College offers scholarships and grants to help students finance their education.
Current students must complete a brief application form. All students who hope to receive a scholarship award for the next year must apply. These applications allow the Scholarship Committee to update addresses and to be certain each student has completed the FAFSA (Free Application for Federal Student Aid).
Students who have completed the application and the FAFSA by April 19th, will be considered for a scholarship award for 2024-2025. No late applications will be accepted.
Awards are made by the Scholarship Committee on the basis of recommendations from:
The Director of the W.E.B. DuBois Honors Society
The Director of Athletics
The Music Department Faculty
Each of these areas has a separate budget for awards and makes awards based on clearly stated qualifications.
New Students: The admissions office recommends scholarship awards for incoming students, both first time and transfer.
LeMoyne-Owen College is a proud to be a member of the United Negro College Fund (UNCF), providing students access to a wide range of scholarship opportunities. By creating a profile on the UNCF website, students can search and apply to scholarships that match their qualifications. This valuable resource helps make higher education more affordable and accessible for our students. For more information and to get started, visit www.uncf.org.
The Thurgood Marshall Scholarship is an esteemed opportunity for students who exhibit exceptional academic prowess, leadership qualities, and a commitment to social justice. This scholarship not only offers financial assistance but also recognizes individuals who strive for excellence in their academic pursuits while actively engaging in their communities. To apply and learn more about eligibility criteria and the application process, please visit https://www.tmcf.org/
The Endowed Scholarship eligibility process is governed by the stated wishes of the donor, i.e., major area, grade point average, class, etc. Once the appropriate offices have verified the eligibility requirements, the names of eligible students with supporting documentation are submitted to the Scholarship Committee. More than fifty (50) endowed funds have been established by graduates and friends of the College to provide scholarship support for future generations of LeMoyne-Owen students. Please review the Lemoyne-Owen College Catalog pages 59-60 for further information and listings of endowed scholarships.
Federal Verification is a process that requires institutions to verify the accuracy of the information provided on a student’s FAFSA. If your FAFSA is selected for verification by the U.S Department of Education, you are required to provide documentation. After submitting your FAFSA, you will receive an electronic FAFSA Submission Summary which will indicate if you have been selected for federal verification. In addition, you will receive a notification from the Office of Student Financial Aid regarding the required documentation that must be submitted. Financial aid offers are contingent upon completing the federal verification process, and the necessary documents can be accessed in the Financial Aid Forms section below.
Both federal and state governments require you to meet certain basic academic standards in order to remain eligible for financial assistance. Satisfactory Academic Progress (SAP) is the term used to define successful completion of coursework to maintain eligibility for federal financial aid.
At the conclusion of each academic year (end of Spring semester), we assess your academic performance to determine whether you are making satisfactory progress toward completing your program. Progress is determined quantitatively (credit hours versus hours earned and maximum time frame) and qualitatively (grade point average). Failure to maintain satisfactory academic progress may result in the suspension of institutional and federal financial aid eligibility. The Office of Student Financial Aid will notify students who do not meet the satisfactory progress.
Students must complete a minimum of 67% of the cumulative courses attempted to remain eligible. The completion percentage is determined by calculating credits passed/credits attempted.
The maximum time frame for completion of a degree program is defined as 150% of the credits required to complete the degree. For example, a typical degree program requires 120 credits to complete. Therefore 180 credits is the maximum that can be attempted and receive financial aid
Transfer credits accepted by Le-Moyne-Owen College will be included in the progress completion requirement as well in the maximum attempted credits.
Attempted credits include the following:
Graded Credits (A, B, C, D, F, or P)
Incomplete Credits (I)
Withdrawn Credits (WA, WD, WF)
Repeat Credits
Audited Courses
Transfer Credits
Qualitative Standards
A student must have a minimum grade point average for specific numbers of credits attempted of 2.0.
Students who fail to meet all of the minimum standards listed above at the time of review will have their federal financial aid eligibility suspended. No federal aid will be disbursed during subsequent semesters for students on suspension. There are two ways to regain eligibility.
Submit a written appeal in accordance with the appeals process and the Financial Aid Appeals Committee approves the appeal. The student is then placed on financial aid probation, allowing one additional semester in order to bring the academic requirements up to a minimum standard.
The student attends Le-Moyne-Owen College during the suspension period, pays for tuition and fees without the assistance of financial aid, and does well enough to satisfy all SAP academic requirements.
An appeal can be made by a student who has been suspended. The appeal must be presented in writing to the Financial Aid Appeals Committee and should fully describe the extenuating circumstances on which the appeal is based. An appeal should be made as soon as possible, but no later than one month before registration for the next
semester or the submission deadline on the form. The appeal must address the extenuating circumstance(s)as to why satisfactory academic progress was not made on which the appeal is based. Extenuating circumstances can include, but are not limited to, illness, death of a family member, family difficulties, and financial difficulties.
The appeal should be supported with documentation.
The appeals requires the submission of an academic plan that is developed by the Division Chair and must demonstrate how the student will meet the SAP requirements by a specific point in time.
If the appeal is approved, students will be reinstated for financial aid on probation.
Please refer to LeMoyne-Owen’s catalog, pages 43-45, for the full SAP policy.
Federal regulations require each educational institution to have a written policy for the refund and repayment of aid received by students who withdraw from all classes during a term for which aid has been approved. These policies are effective only if the student completely terminates enrollment (e.g., voluntarily withdraws from all courses or is dismissed from all classes.)
Definitions
The term “Title IV funds” refers to the Federal Financial Aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs:● Federal Pell Grant Program
● Federal Supplemental Educational Opportunity Grant (SEOG)
● Federal Subsidized/Unsubsidized Federal Direct Loan
● Federal Plus Direct Loan
The calculation of the return of Title IV funds (and state funds if applicable) is determined by the date that the student withdrew from all classes. A student’s withdrawal date is determined by:
● The date the student officially notifies the institution of his/her intent to withdraw; or, 37
● The students last day of recorded class attendance or at an academically-related activity; or
● The midpoint of the enrollment period for students who leave without notifying the institution (an unofficial withdrawal)
Please refer to LeMoyne-Owen’s catalog, pages 36-39, for the full Return to Title IV policy.
Unusual Enrollment History (UEH) is defined as the specific pattern the U.S Department of Education uses to select students who have received federal aid at multiple institutions over the past four academic/award years. This flag requires Le-Moyne-Owen College to review and determine whether students attended an institution long enough to receive refunds from federal student aid. If you are selected for Unusual Enrollment History, the Office of Student Financial Aid will notify you with required documentation to complete this process. Required documentation can be found in the Financial Aid Forms section below.
The Tennessee Education Lottery Scholarship program is intended to provide scholarship funds to offset costs associated with pursuing postseason education. The Lottery Scholarship program includes the HOPE Scholarship, Aspire Award, General Assembly Merit Scholarship (GAMS), Access Grant and the Non-Traditional Hope Scholarship.
Previously, a federal or state drug conviction could disqualify a student from federal student aid funds. The FAFSA Simplification Act (amended Section 484) eliminated the prohibition on receiving federal student aid for students with most-drug related convictions. Having a drug conviction while receiving federal student aid no longer impacts a student’s federal aid eligibility if they meet all other eligibility criteria. Although drug convictions no longer affect federal aid eligibility directly, drug convictions are serious offenses and can have a lasting consequence for students.
