Key Points to Remember
about Bill Payment, Scholarships,
Grants, and Loans
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Introduction
Business Office
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Financial Aid Office
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Where/When/How to Pay
Holds/Credit Balances
How to use Financial Aid to pay your bill
Rules and Regulations regarding your student’s
financial aid
MONEY
Questions?
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Cathy Freeman, Bursar
Laura Borgmann, Student Account Representative
Shelia Demonbreun, Student Account Representative
Shawna Denny, Student Account Representative
Julie Lillicrap, Student Account Representative
Emily Snell, Student Account Representative-Cashier
Email us at bursar@lipscomb.edu
or call (615) 966-1778
Tuition (Block rate for 12-18 hours per semester)
$ 12,645
Room & Meal Plan (approx.)
5,050
Student Fees
1,050
TOTAL
$18,745
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The Business Office requires all students to be
“Officially Registered” (Zero Balance) before
the semester begins OR the student’s
schedule/classes WILL BE DROPPED!
Deadlines to be Officially Registered:
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Fall – August 1
Spring – December 1
Summer – May 1
Your student must first make you
an authorized user in the TouchNet
payment system.
 You will then get an email with a
link to login to TouchNet.
 Your password is sent in a separate
email.
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Pay-in-full
 TouchNet
(checking/savings account
or credit card)
 Mail Check
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Monthly Payment Plan
 TouchNet
account)
(checking/savings
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Prior to class registration for future semesters,
your student should check myLipscomb to see if
any HOLDS will prevent registration
Holds can be applied to accounts for various
reasons:
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BUSINESS OFFICE
 This hold means the student owes money and cannot
register until a zero balance is reflected for the
semester.
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During Advance, please sign-up in TouchNet in
order to receive any refunds of student account
credit balances.
The Business Office will be available in the Bennett
Campus Center tomorrow morning at 9am if you
have questions on how to sign up with TouchNet.
Financial Aid funds pay approximately 30 days
after the semester begins and a refund is not
available until after all funds are listed as
“credits/payments.”
All you need to know
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Tiffany Summers, Director (966-1791)
Jimmy Morris, Associate Director, TN HOPE
Administrator (966-6224)
Maggie Kersten, Assistant Director (966-6207)
Tamera Spivey, Scholarship Counselor (966-6202)
Donna Taylor, Loan Counselor (966-6200)
Deidra Cummings, Loan Counselor (966-6203)
Denise Forgette, Technical Support (966-6206)
Financial Aid Assistant (966-1791)
**Email us at firstname.lastname@lipscomb.edu
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Website is www.fafsa.gov
Can’t get a federal loan or grant without it
Application for the Tennessee HOPE (lottery)
scholarship
Recommend filing in January for TN residents
Remember both parent and student PIN
numbers for use each year
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The Department of Education (DOE) may select you to
“prove” your FAFSA answers through a process called
Verification.
The IRS Data Retrieval Tool on the FAFSA is the preferred,
quickest, and most reliable way to verify your financial
information.
The Verification Worksheet verifies any other information
required by the DOE and can be different each year.
Selection can be every year.
No Federal Aid can be processed or paid until verification is
complete.
May change your financial aid award
Notified of selection by student SAR report from the DOE,
by Lipscomb email or through myLipscomb.
Deadline to submit Verification is June 15, 2014
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Student must also complete Entrance
Counseling and a Master Promissory Note at
www.studentloans.gov (link on our website).
These requirements will not show as satisfied
until after we begin processing loans in July.
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Complete instructions for loan process
available at financialaid.lipscomb.edu
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Everything is electronic – no paper
applications.
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Six hours per semester for a Stafford loan
If selected, must complete verification before
Stafford loans can be processed
Must have satisfied all outstanding
requirements in myLipscomb prior to payment
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Approximately 30 days after classes begin (see
catalog for specific dates)
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Federal Stafford Loans are based on Year in
School:
Freshmen (0-29 earned hours) $5,500
 Sophomore (30-59 earned hours) $6,500
 Junior (60-94 earned hours) $7,500
 Senior (95+ earned hours) $7,500
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Interest rate as of July 1, 2014 is 4.66% for
subsidized and unsubsidized student loans.
Subsidized Loans – Government pays interest while in
school.
 Unsubsidized Loans – Interest begins at disbursement.
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Parent Loans may be available for undergraduate, dependent
students
Borrow up to Cost of Attendance minus all other aid
10 year repayment and can be deferred while student is enrolled.
Interest Rate as of July 1, 2014 is 7.21%
Credit approval required through www.studentloans.gov.
If Credit Denied, additional unsubsidized Stafford loans available
for student
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$4,000 additional unsubsidized for Freshmen and Sophomores
$5,000 additional unsubsidized for Juniors and Seniors.
Private Student Loans also available in student’s name but will
require co-signer
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Apply online through bank of choice
Most have variable interest rates
Notify Financial Aid Office of bank and approved amount
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Summer load requirements for academics may
differ
 Usually a graduated schedule
Exception – Seniors in their last semester
 Requires Scholarship Special Request Form
 Scholarships prorated
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Double majors or minors not reason for
extension
Exception made for some majors that require
more than 126 hours to graduate – Music
Teaching and Engineering
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Requires Scholarship Special Request Form
Maximum based on attempted hours, not
earned hours
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Awarded depending on cumulative GPA level
Must fill out application to request scholarship,
online or in Financial Aid Office
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This is a cumulative GPA and is not rounded
Students are offered one semester of grace during
the freshman year (not checked after fall)
Can get scholarship back once cumulative GPA is
3.0, BUT ONLY BY REQUEST
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Reinstatement applications available online
Other institutional scholarships (memorial,
athletic, etc.) require a 2.0 GPA
Highest scholarships require 3.25 GPA
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Awarded based on Need from FAFSA and availability of
funds
Not guaranteed each year
Always applied last, if other scholarships from any other
source are added the Memorial grant may change
Once school has started, the Memorial grant will be
“cancelled” and replaced with a specific scholarship fund. It
is simply replaced, the total amount will not change.
Students are required to write a Thank You Note for the
Memorial Scholarship they received.
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We send students multiple email reminders
Usually begins late October of the school year
Failure to complete the Thank You Note will forfeit scholarship in
the following semester.
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Institutional financial aid (scholarships, discounts,
assistantships) may only be applied to Lipscomb
University semester-long study abroad programs.
Short-term Global Learning and domestic travel
programs are not eligible for institutional aid,
including funds toward travel costs and tuition.
Most Lipscomb scholarships (academic and need
based) are limited to undergraduate programs
ONLY.
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If your student wants to complete a bridge program only
courses toward the undergraduate degree will be counted
for institutional scholarship purposes.
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Three types of probation: Chapel, Academic
and Disciplinary
Can get scholarships back when probation is
removed, BUT ONLY BY REQUEST
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Reinstatement applications available online
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Student must have a HOPE GPA of 3.0 at 72
hours
Can be regained if lost, but only at benchmarks
(48, 72, 96 hours)
Student eligible for up to 126 hours
Strong caution on dropping classes
NEW beginning 2011-12: Summer HOPE
All rules and requirements at
www.CollegePaysTN.com
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The total amount of gift aid, from all sources, that a
student may receive is limited to the actual costs billed
to them for the term. Examples of gift aid are PELL
grants, HOPE scholarships, state grants, Lipscomb
institutional scholarships, outside scholarships, etc.
Gift aid that includes any Lipscomb scholarships that
exceeds direct costs on an account cannot be refunded
to the student
When deciding to move off-campus, a student should
carefully review the impact to the financial aid award
Meal plans for off-campus students cannot be covered
with institutional aid
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Eligibility based on FAFSA information
Work on campus in return for paycheck
Cannot be used toward student bill in current
semester, can be saved or paid to account for
future semester
Job Fair for eligible students during first week of
classes in August (Wednesday, August 20th)
Career Development Center first contact when
looking for available jobs on campus—Make sure
to meet them!
Over 800 student work jobs available last year!
Great way for student to earn extra money and
gain experience
$MONEY$
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M:
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O:
Officially Registered with the Business Office prior to
due date each semester or class schedule will be dropped.
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N:
Necessary Requirements met. GPA, TN HOPE Scholarship,
Entrance Counseling, MPN, Verification, No dropped classes.
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E:
Lipscomb Email is the official form of communication for the
University. Check it often. We (Business Office and Financial
Aid) only send emails when action is needed– Never Junk
Mail!
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Y: YES, you must file your FAFSA each year.
myLipscomb – View bill, accept financial aid, and view
terms & conditions.
financialaid.lipscomb.edu
myLipscomb/Business Office
*This presentation will be available online shortly
after Advance.
*Resource Fair tomorrow 9:00 to 12:00