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IV.A. SCHOLARSHIPSScholarships do not have to be repaid.Milligan ScholarshipsAcademic, merit, and athletic scholarship aid is offered annuallyto both incoming and currently enrolled students. Many of thesescholarships have been made possible through contributionsfrom alumni, parents, faculty, staff, businesses, foundations,corporations, and friends of the college. These scholarships aredetermined by the Scholarship Committee and/or StudentFinancial Services and are credited directly to thestudent’s account.Academic Scholarships: Scholarships are based on the applicant’sACT/SAT and high school GPA (or previous college GPA for transferapplicants), and are given at either the Presidential, Academic Dean,Alumni, or Friends level (students are eligible for one level onlyand not a combination). Scholarships are determined immediatelyfollowing the student’s admission to the college and also will appearon the Financial Aid Offer. For more information, contact youradmissions counselor.A complete list of Milligan scholarships is available at www.milligan.edu/SFS.Non-Milligan Assistance (NMA) and Outside ScholarshipsThese are scholarships offered 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 offerpackage per federal regulations. You are required to report outsidescholarships to Student Financial Services. Report the annualamount of the scholarship on your Financial Aid Offer. If you aresearching for private scholarships, be sure to use a reputable source(you should never have to pay for scholarship information—bewareof scams). Reputable sources we recommend includewww.fastweb.com and www.ecampustours.com.Tennessee Education Lottery Scholarship Program (TELS)This is gift aid and does not require repayment. Only eligibleTennessee residents may receive scholarships through the TELS/HOPE Program. You may check with the state agency at www.TN.gov/collegepays to review eligibility criteria. Funds from thisprogram will be credited to your student account in two equaldisbursements during the academic year.B. GRANTSGrants are based on financial need and do not have to be repaid.All federal grants are contingent upon Congressional fundingfor 2020-21.Milligan College GrantThis is need-based gift aid; grants are made using criteriaestablished by the college. Grants are credited directly to thestudent’s account.Federal Pell GrantThis is federal gift aid and the eligibility for the grant is determinedby a formula consistently applied to all applicants which takesinto account the cost of attending the institution and the student’spart-time or full-time status. It is based on results of informationsubmitted on the FAFSA. Annual grants for 2019-20 ranged from 657 to 6,195. One-half of your annual Federal Pell Grant will becredited to your student account each semester.4What’sDefinitions of ProgramsWhat& Disbursement InformationFederal SEOG Grant (Federal Supplemental EducationalOpportunity Grant)This is a federal grant awarded by the institution to qualifiedundergraduate students who demonstrate exceptional financialneed. Priority is given to Federal Pell Grant recipients. Grants rangefrom 250 to 1,000 annually. One-half of your annual Federal SEOGGrant will be credited to your account each semester.Tennessee Student Assistance Award (TSAA)Pell-eligible Tennessee residents may receive this grant. If you arenot a Tennessee resident, you may check with the Higher EducationAgency in your state to see if your state’s tuition grant can betransferred to Tennessee. TSAA Grant funds will be credited toyour student account in two equal disbursements during theacademic year.C. EDUCATIONAL LOANSLoans must be repaid, with interest. Educational loans havevarying fees, interest rates, repayment terms, and/or borrowerprotections. Federal Loan programs listed in Section C aresubject to change through legislative action at any time.There are annual limits on the amounts that may be borrowed,which vary by the student’s academic year in school and thestudent’s dependent or independent status (see page 10)Federal Direct Stafford Loans: Subsidized and UnsubsidizedFederal Subsidized and Unsubsidized Stafford Loans must repaid.Subsidized Stafford Loans are available to undergraduate studentswith financial need. The U.S. Department of Education pays theinterest on a Subsidized Stafford Loan while the student is enrolledat least half-time, for the first six months after leaving school, andduring periods of deferment.Unsubsidized Stafford Loans are not based on financial need andare available to all undergraduate and graduate students. Theborrower is fully responsible for paying the interest regardless of theloan status. Interest on Unsubsidized Stafford Loans accrues fromthe date of disbursement and continues throughout the life of theloan. If the borrower does not pay the interest while in school andduring grace periods and deferment or forbearance periods, interestwill accrue (accumulate) and be capitalized (added to the principalamount of the loan).Stafford Ioans are disbursed in two equal disbursements for theacademic year. You will receive a letter notifying you of the amountof loan that has been credited to your account. This letter alsoallows you the opportunity to reduce and/or cancel your loan bynotifying Student Financial Services in writing within 14 days ofreceiving the notification. Please refer to information regarding loanterms, interest, repayment, and deferments listed in Section IX ofthis booklet. These loans require Entrance Loan Counseling for allfirst-time borrowers and Exit Loan Counseling for all borrowers whoare graduating, not returning to Milligan, or have dropped below atleast a half-time enrollment status.Students who are borrowing through the Federal Direct StaffordLoan Program are also encouraged to complete Financial AwarenessCounseling at https://studentloans.gov.

Federal Direct Parent Loan for Undergraduate Students (PLUS) and Graduate StudentsA Federal Direct PLUS Loan is a credit-based loan for parents of undergraduate students and for graduate students. It must be repaid. Graduatestudents may benefit from using the PLUS loan as opposed to an alternative loan because students may not qualify for an alternative loan basedon credit history, or the interest rate may be higher than the PLUS Loan interest rate. The Graduate PLUS Loan requires Entrance Counseling forall first-time borrowers and Exit Loan Counseling for all borrowers who are graduating, not returning to Milligan, or who have dropped below atleast half-time enrollment status. If you need assistance in determining the amount to borrow, please contact Student Financial Services. If youborrow through the PLUS Loan Program, your loan funds will be disbursed directly to the student’s account in two equal disbursements for theacademic year.D. WORK STUDY PROGRAMSFederal Work StudyFinancial aid that the student earns through work. This program provides part-time jobs on-campus for students with financial need asestablished by the FAFSA. Students are paid the current federal minimum wage. The maximum amount a student may earn (offer amount)depends on financial need and the amount of funding the college has for the program. Work Study employment is subject to the availability ofqualified employment opportunities. The Student Financial Services Office determines monetary amount. The Work Study Coordinator assignspositions. Wages are paid bi-monthly based on hours worked and are paid directly to the student (they will not be credited to the student’saccount unless a signed agreement is executed).Milligan College Work StudyFinancial aid that the student earns through work. This program provides part-time jobs on-campus for students who do not qualify forthe Federal Work Study Program. Students are paid the current federal minimum wage. The maximum amount a student may earn (offeramount) depends on the amount of funding the college has for the program. Work Study employment is subject to the availability of qualifiedemployment opportunities. The Student Financial Services Office determines monetary amount. The Work Study Coordinator 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 unlessa signed agreement is executed).See SFS website for other available financial aid programs: www.milligan.edu/sfs.{DID YOU KNOW?Milligan’s tuition is surprisingly affordable compared with other private colleges acrossthe country. Milligan’s published cost of attendance is far below the national average forsimilar private institutions.V. LoansA. Entrance Loan CounselingNew Student Loan Borrowers: If your financial aid offer includes a Federal Direct Stafford Loan, you are required to completeEntrance Loan Counseling before funds can be disbursed. The session allows you to review loan information and answerquestions which demonstrate that you understand your rights and responsibilities as a borrower.To complete Entrance Loan Counseling (Stafford):1.Go to our website at www.milligan.edu/sfs/loans.2.Review information for Entrance Loan Counseling.3.Click on Stafford.4.Log in by entering requested information,including FSA ID (the FSA ID used to file FAFSA).5.Complete the online Entrance Loan Counseling andsubmit it online.6.Print the confirmation page for your records.7.Milligan College will be advised electronically whenyou have completed this information.5

B. DIRECT Stafford LOAN: MASTER PROMISSORY NOTENew Student Loan Borrowers: You must complete a Master Promissory Note (MPN) for your Direct Stafford Loans for the 2020-21school year. The MPN will be valid for 10 years. Federal Direct Stafford Loan funds will not be disbursed unless a valid MPN is onfile and Milligan has originated your loan with the Department of Education. In order for Milligan to request your funds, you musthave completed the MPN, Entrance Loan Counseling, and be registered for the next semester.If your computer is not compatible with this process, or you need a paper MPN for another reason, contact our office. If you do notcomplete and submit your MPN online, please return your completed MPN to Student Financial Services.If you are a new Federal Direct Stafford Subsidized and/orUnsubsidized Loan Borrower:1.Go to our website at www.milligan.edu/sfs/loans.2.Choose Master Promissory Note.3.Click on complete your Master Promissory Note.4. Log in by entering requested information, includingFSA ID (the FSA ID used to file FAFSA).5.Complete Loan Agreement for a Subsidized/Unsubsidized Loan (MPN).You should receive a confirmation online indicatingthat the MPN has been successfully completed.6{DID YOU KNOW?The value of a college education as acredential for future employment andearnings is expected to rise. About 90percent of the fastest growing jobs in thenew, knowledge-driven market economyrequire some college education.

VI.Tennessee ResidentsA. Tennessee Education Lottery Scholarship Program(TELS/HOPE Scholarships)This category of scholarships is funded by lottery revenues and administered by the Tennessee Student Assistance Corporation(TSAC). These scholarships consist of the HOPE Scholarship, HOPE with General Assembly Merit Scholarship, Hope with AspireAward, and HOPE Access Grant. The scholarship provides you with greater access and choice of educational institutions, and it isa contract between the state and the student, not the college. As with any offer, you always have the right to accept or decline thescholarship. However, Milligan assumes you wish to accept the scholarship unless you decline it on the Financial Aid Offer or senda written statement to Student Financial Services.Since your HOPE award is subject to the availability of lottery funds and must be requested electronically by the institution afteryour eligibility is confirmed, it is indicated on your Financial Aid Offer as a tentative offer until it has been confirmed by the state.Please note that there are state requirements for maintaining the scholarship, and the college will not be able to provide fundingto replace HOPE funds, if lost. If you have questions, please contact our office or contact TSAC at www.TN.gov/collegepays or800.342.1663.B. Tennessee Student Assistance Award (TSAA)Pell-eligible Tennessee residents may receive this grant. If you have received notification from the Tennessee Student AssistanceCorporation (TSAC) that you are receiving this grant, and your Financial Aid Offer does not include the TSAA award, you maynot have indicated Milligan as your first school of choice on the FAFSA. TSAC sends notification of this award only to the firstTennessee school that is listed on the FAFSA. For more information, or to change the name of the school to receive the TSAA Grant,contact TSAC at www.TN.gov/collegepays or call 800.342.1663.VII. Student Account Payment PolicyTuition, fees, and all other costs for the semester are due and payable prior to the first day of class. You are not required to prepay any portion of the bill that will be covered by federal, state, institutional, outside scholarships, or additional financing optionsyou put in place to cover your charges, unless you become ineligible for the aid or the outside scholarships are not received. Workstudy wages are earned by the student and are paid bi-monthly to the student.Students will receive a statement and may pay their student account using cash, money orders, personal checks, Visa, Mastercard,Discover, or American Express. The most convenient way to make a payment is to use our online payment feature which can beaccessed through our student information portal, Self Service, at www.milligan.edu/selfservice.To enable financial aid to cover your student account, all financial processes should be completed prior to the first day of class.This includes completion of online entrance interviews for loans, online signature of MPN’s (Master Promissory Notes), FinancialAid Offers signed and returned, and any documentation required for verification returned to the Student Financial Services Office.Registration Cancellation Policy & Dates for 2020-21Course schedules will be canceled for students who have not completed ALL financial aid processes(described in previous paragraph) AND paid the balance due on their accounts before the first day ofclass. It will be the student’s responsibility to know the date each semester.A 100 re-enrollment fee will be assessed to all students whose registrations are canceled and whomust re-register for classes. All financial issues will have to be addressed satisfactorily before a studentwill be able to re-register for classes. REGISTRATION CANCELLATION DATES FOR 2020-21Fall 2020: August 24, 2020Spring 2021: January 10, 20217

VIII. Additional Financing OptionsIf your financial aid offer does not cover all of your expenses, you may use one or a combination of the following options tofinance your education. We have included information and comparison data for the PLUS (dependent undergraduate studentsand graduate students) and the alternative loan.A. Tuition Payment PlanMilligan College offers an interest-free payment plan for those students and families who wish to pay educationalexpenses in monthly installments. The payment plan may be used over a period of 9–11 months, with the finalpayment due in April each year. The annual enrollment fee for the plan is 75. To enroll in the payment plan now, go towww.milligan.edu/selfservice. After you log in, select Finances/View Your Account/Enroll in Installment Payment Plan.If you need assistance in determining the amount to put on a payment plan, contact Student Financial Services at800.447.4880 or email SFS@milligan.edu.B. Federal Parent PLUS and Graduate PLUS BorrowersLow-interest parent loan program for dependent students is not need-based. Graduate students also are eligibleto borrow through the Graduate PLUS Loan. This loan may be less expensive than the alternative loan program dependingon the credit rating of the borrower. Repayment generally begins within 60 days after the loan is fully disbursed. Theannual amount available is total cost of education minus total financial aid. Contact Student Financial Services if you needassistance in determining the amount you need to borrow.APPLICATION PROCESS – FEDERAL PARENT Plus and Graduate Plus81.Go to www.milligan.edu/SFS/loans.2.Under PLUS Loans, choose PLUS Loan Request Process (after April 1, 2020).3.Log in by entering requested information, including FSA ID (the FSA ID used to file FAFSA).4.Go to Apply for a PLUS Loan.5.Choose Complete Loan Agreement for a Plus Loan (MPN).

APPLICATION PROCESS – NEW GRADUATE PLUS LOAN BORROWERS1.Go to www.milligan.edu/SFS/loans.2.Under Entrance Loan Counseling, choose Graduate PLUS Loans.3.Log in by entering requested information, including FSA ID (the FSA ID used to file FAFSA).4.Choose Complete Entrance Loan Counseling.5.Complete and submit Entrance Loan Counseling online.6.Print the confirmation page for your records. Milligan will be advised electronically when you havecompleted this information.C. Alternative LoanEducational loans borrowed by students or parents from a commercial lender to supplement federal/institutional financialaid. The amount borrowed cannot exceed your Cost of Attendance minus any financial aid received. Alternative loanshave varying interest rates, fees, and repayment options and usually require the applicant to be creditworthy or have acreditworthy cosigner. An alternative loan allows deferred repayment, and the interest rate is based on your credit rating orthe credit rating of your co-borrower. Contact Student Financial Services if you need assistance in determining the amountyou need to borrow or if you have questions.A listing of lenders that Milligan students have utilized over the last three years is available at www.milligan.edu/sfs and in theStudent Financial Services Office. If your lender is not listed, please contact the Student Financial Service Office for furtherinstructions regarding the loan process. The Student Financial Services Office will process your loan quickly and accuratelyregardless of the lender you choose.A credit-approved student borrower must submit a completed Self-Certification Form to their lender before the lenderwill request school certification of the alternative loan.APPLICATION PROCESS1.Complete the Milligan College Alternative Loan Request Form (enclosed) and submit it to Student FinancialServices (Preapproval notification must be

you for the 2020-21 academic year. Your Financial Aid Offer is enclosed with this Financial Aid Offer Instruction Booklet. Please read the Financial Aid Offer and the Instruction Booklet carefully. Signing your Financial Aid Offer indicates acceptance of all scholarships and grants. Below ar