Tennessee Promise

Frequently Asked Questions (FAQs)

Answers to Frequently Asked Questions concerning Financial Aid are listed below.

  1. What is the Free Application for Federal Student Aid (FASFA) school code for Southwest?
  2. Why should I apply for financial aid?
  3. How will I be affected if I miss the financial aid deadline?
  4. How do I apply for financial aid?
  5. Do I reapply for financial aid each year?
  6. My parents are divorced. Whose information do I need for the Free Application for Federal Student Aid (FASFA)?
  7. What eligibility requirements must I meet for Financial Aid?
  8. When should I apply for financial aid?
  9. Why was I selected for verification?

Q: What is the Free Application for Federal Student Aid (FASFA) school code for Southwest?

A: The Southwest school code is 010439.

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Q: Why should I apply for financial aid?

A: You should apply for financial aid every year, even if you think you don't qualify. Any change in family circumstances might affect your eligibility, such as a brother/sister starting college. You may be eligible for monies that are funded by the state and federal government and do not have to be paid back.

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Q: How will I be affected if I miss the financial aid deadline?

A: Financial aid deadlines are one of the most important things to consider when applying for financial aid. If you miss the deadline, this can result in classes being dropped for non-payment. At certain times, classes cannot be added back for any reason.

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Q: How do I apply for financial aid?

A:

  • The Federal Student Aid (FSA) ID replaces the numerical PIN with a username and password. Students and parents must create a FSA ID at StudentAid.gov/fsaid.
  • Visit the Federal Student Aid website and complete the Free Application for Federal Student Aid (FASFA). The application will be evaluated by the Department of Education. Within 3-5 business days an electronic Student Aid Report (SAR) will be sent to you and the Financial Aid Office.
  • The Financial Aid Office will evaluate the Institutional Student Information Record (ISIR) to determine if your application was selected for verification. If you have been selected for verification you will need to supply the Financial Aid Office with necessary documents such as copies of Federal tax transcripts, verification worksheets, etc. If your application has not been selected for verification we will determine if you are eligible for grants.

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Q: Do I reapply for financial aid each year?

A: You will need to renew your Free Application for Federal Student Aid (FASFA) form each year. This will be a much easier process than before as 75 percent of the information is pre-printed. You will need to provide any new income/asset information. Visit the Federal Student Aid website to fill out the renewal FAFSA.

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Q: My parents are divorced. Whose information do I need for the Free Application for Federal Student Aid (FASFA)?

A: The parent with whom you lived with the most during the past year should complete the FAFSA. If you did not live with either parent or lived equally with each parent, use the information from the parent who provided you with the most financial support. It does not make a difference which parent claims you as a dependent for tax purposes.

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Q: What eligibility requirements must I meet for Financial Aid?

A:

  • Must have a high school diploma or GED
  • Be enrolled at an eligible institution and in a program that leads to a degree
  • Be a U.S. citizen or eligible non-citizen
  • Maintain satisfactory academic progress
  • Have a valid Social Security number
  • Register with Selective Service (if applicable)
  • Have financial need

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Q: When should I apply for financial aid?

A: You should complete a Free Application for Federal Student Aid (FASFA) as soon as possible after January 1 of each year. This will help ensure the funds are available to you when tuition and fees are due. Applications are processed in the order in which they are received so try to get your FAFSA filled out as early as possible. You will also need to keep a copy of your tax transcript in case the Financial Aid Office needs a copy.

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Q: Why was I selected for verification?

A: Free Application for Federal Student Aid (FASFA) selects random applicants and requires the school to verify the information provided. It is a random process and does not necessarily mean that anything is wrong.

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