About Lipscomb
Steps to Apply for Pharmacy Students 2012-2013
What Is My Financial Aid Classification?
For financial aid purposes you are considered a Professional student once you are accepted in the College of Pharmacy. You will file as an Independent on the FAFSA, even if you are claimed on your parent’s income taxes. DO NOT use your parent’s information when you fill out the FAFSA.
How do I complete the FAFSA?
- It is our recommendation that the FAFSA be file by April 1st. If you do not have your tax return completed by then, go ahead and file the FAFSA. You can always amend your FAFSA once your return in complete.
- Use the FAFSA on the web at www.fafsa.gov
- Be sure to have your tax information from 2011 and your driver’s license.
- If you have filed a FAFSA before, you will need your pin number.
- If you have not filed a FAFSA, go to www.pin.ed.gov to request a pin.
- Lipscomb University school code: 003486 (to be used in step six on the FAFSA)
Please be sure to answer the following questions on the FAFSA as shown.
How to Answer FAFSA Question 28:
When you begin the 2012-2013 school year, what will be your grade level?
- 6) 1st year graduate/professional (for P1)
- 7) Continuing graduate/professional or beyond (for P2,P3&P4)
How to Answer FAFSA Question 29:
When you begin the 2012-2013 school year, what degree or certificate will you be working on?
- 8) graduate /professional
How to Answer FAFSA Question 48:
At the beginning of the 2012-2013 school year, will you be working on a master’s or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, or graduate certificate etc.)?
- “YES”
Types of Financial Aid available to Pharmacy Students
Federal Stafford Loan
- Maximum of $33,000 in Unsubsidized Stafford Loan per academic year as a PharmD student
- Federal Unsubsidized Stafford Loan: Interest accrues while you are in school
- 6.8% interest rate
- Payments begin 6 months after graduation or leaving school
- Eligibility is determined by FAFSA
Grad Plus Loan
- 7.9 % Interest rate (4% fee at time of disbursement)
- Can be deferred while in school
- FAFSA is required
- Non-need based loan. Based on credit. Can use a co-signer.
- Must use all of Stafford before GRAD PLUS is applied to account
- Amount for 2012-2013 is $29,000
State Funds
- TN Educational Lottery Scholarship (HOPE)
- $4000 per year (can be up to $5500)
- TN residents only
- If you have not been awarded a degree
- If you were awarded the HOPE as an undergraduate
- GPA requirements: 3.0 after 72, 96 and 120 hours.
- Maintain continuous enrollment
- Eligible to receive for 5 years from the original date of receiving the award as a freshman.