Student Financial Aid & Scholarships

SFA 

Student Financial Aid, Scholarships & Veterans Education Benefits

Austin Peay State University believes that an education should be accessible to assist students in obtaining the resources needed to pay for their education. All students of are encouraged to apply for financial assistance. Students applying for financial assistance must be enrolled at least half time in degree-seeking programs and not be considered special or transient students. The terms and conditions for receiving financial aid can be reviewed online at https://www.apsu.edu/financialaid/financial-aid-process/terms-and-conditions.php.
 

How to Apply for Financial Aid

To apply for federal financial aid, a student must complete the Free Application for Federal Student Aid (FAFSA) at studentaid.gov each year of planned attendance. Information on the entire financial aid process can be reviewed online at https://www.apsu.edu/financialaid/financial-aid-process/.

For further information, contact the Office of Student Financial Aid & Scholarships, , located in Ellington 216, by mail to P.O. Box 4546, Clarksville, Tennessee, 37044, by telephone at (931) 221-7907, toll-free (877) 508-0057, or by email at sfao@apsu.edu.

Student Loan Awards

Federal Direct Unsubsidized Loan

Graduate students can apply for the Federal Direct Unsubsidized loan. Students must be enrolled at least half-time. The maximum amount a graduate student can borrow is $20,500 for each academic year, not to exceed a combined aggregate limit of $138,500, which is a combination of the student’s undergraduate loans and graduate loans.

The unsubsidized loan does accrue interest while the student is enrolled. The student may elect to pay the interest while enrolled or choose to let the interest accrue. Repayment of the principal and interest begins when the student is no longer enrolled at least half-time. Loan amounts are restricted by the cost of education, resources available, and state and federal regulations.

With Direct Loans, you:

• Borrow directly from the federal government and have a single contact—your loan servicer—for everything related to repayment, even if you receive Direct Loans at different schools.

• Have online access to your Direct Loan account information via your servicer’s website.

• Can choose from several repayment plans and switch repayment plans if your needs change.

To apply, you must complete the Free Application for Federal Student Aid (FAFSA) at studentaid.gov. Direct Loans are low-interest loans for students to help pay for the cost of education. The lender is the U.S. Department of Education, though most of the contact will be with your loan servicer.

Graduate PLUS Loan

Graduate and professional degree students can apply for a Direct Graduate PLUS Loan to help cover educational expenses. Students are eligible to borrow up to their cost of attendance minus other financial assistance. Other financial assistance includes federal/state grants, scholarships, federal work-study, federal student loans, tuition discounts, or any other aid paid by a third-party. The borrower must have a sufficient credit standing for credit approval, as determined by the U.S. Department of Education. Full details can be reviewed online at https://www.apsu.edu/financialaid/types-of-aid-scholarships/loans/grad-plus-loans.php.

Merit-Based Awards

Online Scholarship Application

Austin Peay offers numerous scholarships that are available to Graduate students which can be applied for through the online scholarship application, located at https://www.apsu.edu/scholarships/index.php. Applications are accepted annually from October 1 - February 1.

Tennessee Hope Scholarships
Effective July 1, 2023, a graduate student who received the Hope Scholarship during their undergraduate coursework but did not use it for 5 years may be eligible to continue receiving the scholarship for graduate level coursework. All other renewal criteria still apply. These criteria may be reviewed online at https://www.apsu.edu/scholarships/tn-education-lottery-programs/dont-lose-hope.php. The amount for graduate students is $5,700 per year for full time enrollment. Enrolling less than full time will result in a prorated disbursement. 


General Assembly Merit Supplemental Scholarship
$1,000 renewable supplemental scholarship for those who meet the qualifications for the Tennessee Hope Scholarship and have in addition earned a 3.75 weighted and college core GPA and at least a composite score of 29 on the ACT (1280 SAT). Applicants can only receive one supplemental scholarship. 


Aspire Award
$1,500 renewable supplemental scholarship for those who meet the qualifications for the Tennessee Hope Scholarship and earn an adjusted gross income of $36,000 or less. Applicants can receive only one supplemental scholarship. 

 

Disbursement of Funds

Disbursement involves financial aid funds being credited to the student account. If the credit results in a refund due to the student, the refund will be released by Student Account Services. Refund dates can be reviewed on the Student Account Services web site at https://www.apsu.edu/student-account-services/.

• Financial aid funds are generally disbursed 10 calendar days prior to the start of a Clarksville campus term as long as the student has completed all financial aid requirements and funds were accepted.
• For students who complete financial aid requirements or accept aid after the disbursement date indicated above, disbursement of funds generally occurs within three business days of offer acceptance and completion of all related requirements.

Federal Work-Study Program (FWS)

The University receives federal funding to employ students on campus while they pursue their education.  Funds are limited and need-based. Students may work a maximum of 20 hours per week depending on the amount of their awards. FWS is awarded based on FAFSA data and submission date; there is not a separate application. Eligibility criteria may be reviewed at https://www.apsu.edu/financialaid/fws.php.
 

Satisfactory Academic Progress

All students receiving Title IV aid are required to maintain satisfactory academic progress each year as outlined in policy online at  http://apsu.edu/financialaid/sat_prog.php. If a student is not meeting the minimum guidelines and their aid is canceled, they have the option to appeal.

Withdrawal and Allocation of Refunds for Return of Title IV

General Information
Students are awarded grants, loans, scholarships and other types of financial assistance for the purpose of completing a degree. Students who receive federal, state, institutional and other forms of financial assistance may be penalized for not completing the courses in which they are scheduled to attend.

If a student never attends, stops attending, or withdraws on or after the scheduled start date of their registered courses, their financial aid may be adjusted. This adjustment may have a serious financial impact that results in the student owing money to the University.

Federal regulations require all student financial aid recipients to make satisfactory academic progress toward achieving a degree. Attempting and not completing courses will impact a students’ completion rate, which in turn, may impact eligibility for future financial aid. For more information regarding the financial impact of dropping courses as well as other important dates, visit our website at www.apsu.edu/financialaid.

 

Other Financial Services 

Tennessee Vocational Rehabilitation - Students with physical disabilities may obtain grants-in-aid, providing assistance with college-related costs through the Tennessee Vocational Rehabilitation Service. Tennessee residents should request information from their high school guidance counselor or write to the Coordinator, Division of Vocational Rehabilitation, 1808 West End Building, Nashville, Tennessee 37203. Students residing in other states should contact similar agencies in their states. This program is different from VA Chapter 31-Veteran Readiness and Employment.