Financial Aid
College can be expensive. For some, attending Welch College is impossible without some form of financial help. Several kinds of financial aid are available to help defray these costs.
Welch offers more than $4 million in student financial aid each year. Approximately 90% of our students receive financial aid, including institutional loans, grants, and scholarships as well as federally and state-funded grants and loans. Welch consistently ranks high in U.S. News and World Report as one of the top colleges in the U.S. in the awarding of merit-based scholarships.
The majority of financial aid is based on a student’s documented financial need (see definition of financial need below). If you think you qualify for any form of financial aid, please read the following information carefully and apply according to the stated procedure.
How is Financial Need Determined?
Eligibility to receive federal grants, loans and work-study is given to students who demonstrate financial need. A formula in which a number of factors such as family income, assets, number of family members, number of students in college, and the age of the older parent is used to determine how much each family is expected to contribute toward the student’s education.
The amount of expected family contribution is then subtracted from the cost of attending a given institution. The difference between the expected family contribution and the cost of attending the institution is considered to be the amount of financial need.
A simplified definition of financial need is:
Education Costs – Family Contribution = Financial Need
How do I apply for financial aid?
Complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov or on paper, and mailed to the processor. Forms are available from your high school guidance office or Welch College. Welch College’s school code is 030018.
The student will receive either a Student Aid Report (SAR) or an Information Acknowledgment. Mail either of these forms to the college ONLY if you failed to list Welch College on your FAFSA. Listing the college allows the Financial Aid Office to draw down electronically an Institutional Student Information Report (ISIR) for the student. The priority deadline for receipt of all financial aid forms is April 15. However, they may be submitted any time.
Students whose federal aid application is chosen for verification will be required to submit additional documentation when requested by the Student Financial Aid Office.
The FAFSA also serves as the application for additional grants available to Tennessee residents. For information about other scholarships for Tennessee residents, contact your high school counselor or the Student Financial Aid Office.
Once all forms have been received by the Student Financial Aid Office, an award letter will be sent to the student listing all types of aid he/she is eligible to receive.
The award letter must be accepted or rejected, signed, and returned to the Student Financial Aid Office.
To apply for Welch College scholarships, fill out the Scholarship Application and mail in by April 15: Welch College
Student Financial Aid Office
3606 West End Avenue
Nashville, TN 37205
STUDENTS MUST BE ACCEPTED FOR ADMISSION TO WELCH COLLEGE BEFORE AID CAN BE OFFERED.
Do You Have Questions?
If so, email us at fao@welch.edu. We’ll be glad to help you in any way we can!
Tennessee State Aid
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Tennessee Student Assistance Award
Non-repayable grant for up to $4,644
Who Is Eligible?
Families with an EFC < $2,100
How to Apply
Filing a FAFSA by March 1.
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EdScholar
$28,000 over 4 years
Who Is Eligible?
Min. 3.25 GPA and 23 ACT, demonstrated community service/leadership
How to Apply
FAFSA, EdScholar application; essay
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TN Hope Scholarship*
$4,000 per year
Who Is Eligible?
Graduate from TN high school, minimum 21 ACT or minimum 3.0 overall high school GPA, and minimum 3.0 college core GPA
How to Apply
Filing a FAFSA is required.
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TN Aspire Scholarship*
$1,500 per year
Who Is Eligible?
TN Hope eligibility; <$36,000 AGI
How to Apply
Filing a FAFSA is required.
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TN Access Grant
$2,750 per year
Who Is Eligible?
Graduate from TN high school, minimum 18 ACT, <$36,000 AGI
How to Apply
Filing a FAFSA is required.
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TN General Assembly Grant*
$5,000 per year (including Hope Scholarship)
Who Is Eligible?
TN Hope eligible, minimum 29 ACT and 3.75 high school GPA
How to Apply
Filing a FAFSA is required.
*Maximum award is $5,500; Awards will be made based on the availability of funds; the Tennessee Lottery funds these scholarships. As with all other financial aid, students have the right to accept or decline these awards.
Federal Assistance Programs
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Federal Pell Grant
$609-$5,350
Who is Eligible?
Incoming freshmen, transfer students and continuing students showing sufficient documented financial need.
How to Apply
Filing a Free Application for Federal Student Aid (FAFSA) is required.
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Academic Competitive Grant (ACG)
$750-1,300
Who is Eligible?
First and second year students who are eligible and who meet ACG requirements.
How to Apply
Filing a FAFSA is required.
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Federal SEOG Grant
$200-$1,000
Priority Deadline
April 15
Who is Eligible?
Incoming freshmen, transfer students and continuing students showing sufficient documented financial need.
How to Apply
Filing a FAFSA is required.
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Federal Work-Study (FWS)
Who is Eligible?
Incoming freshmen, transfer students and continuing students showing sufficient documented financial need.
How to Apply
Completion of a work application and filing a FAFSA is required.
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Federal Stafford Loan
Up to $3,500 for 1st year, $4,500 for 2nd year, up to $5,500 per year for other years.
Who is Eligible?
Incoming freshmen, transfer students and continuing students showing sufficient documented financial need.
How to Apply
Filing a FAFSA and completion of a Federal Stafford Loan Application is required. You may also visit Mapping Your Future.
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Unsubsidized Federal Stafford Loan
Federal Stafford Loan limits apply
Who is Eligible?
Non-need-based loan available to incoming freshmen, transfer students and continuing students.
How to Apply
Filing a FAFSA and completion of a Federal Stafford Loan Application is required.
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Parent PLUS Loan
Loans up to cost of attendance
Who is Eligible?
Parents of dependent incoming freshman, transfer students and continuing students
How to Apply
Filing a FAFSA and completion of a Federal PLUS Loan Application is required.
Welch College does not discriminate on the basis of race, gender, color, national and ethnic origin, age, or disability in admitting students or in otherwise administering its educational policies and school-sponsored programs.