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Financial Aid FAQ

Phone: 423.652.4725

How can our family afford a private college like King?

At King, we are committed to providing students with a quality, affordable, private education. We work with families of all income levels and will meet one-on-one with your family to put together a financial aid package that meets your student’s educational needs. We’ll help you and your student evaluate scholarship availability and estimate state and federal aid so your family can get a handle on costs early in the process. Each year, we award more than $35 million in scholarships, grants, loans, and student campus employment. Ninety-eight percent of our students receive assistance with an average annual award of $17,520.

How is financial aid determined?

Financial need is defined as the total cost of attendance (COA=room & board, tuition & fees, books, travel, and personal expenses) minus the expected family contribution (EFC), which is determined by the data submitted on the Free Application for Federal Student Aid (FAFSA).

How is my family contribution determined?

A federal formula calculates your ability to contribute based on your family’s income, assets, number of members, number in college, and other factors. The federal formula then determines your expected family contribution (EFC). EFC formula worksheets are available at, click on publications.

When should we apply for financial aid?

Applications for aid must be made as soon as possible after January 1 before the fall term of enrollment.

How do I apply for financial aid?

Complete the Free Application for Federal Student Aid (FAFSA) online at Enter King Code #003496 as one of the schools you want to receive your data. FAFSA is available after January 1 each year. You need to file a FASFA each year.

How do I sign my FAFSA?

You now use your FSA ID to sign your FAFSA. The FSA ID replaces the pin. You can learn more here:

Is there a way to get an early start on the financial aid process?

If you want to begin exploring your financial aid options, FAFSA4caster is for you!  By using FAFSA4caster, you and your family will receive an early estimate of eligibility for Federal student aid. The Department of Education’s FAFSA4caster Web site provides you with an opportunity to increase your knowledge of the financial aid process; become familiar with the various types of federal student aid that are available; and investigate other sources of aid, such as grants and scholarships.

When should my student start applying for scholarships?

Your student’s junior year is a good time to start exploring scholarship opportunities. High school guidance counselors can provide more information and help your student find local scholarships. Start checking with civic organizations. Ask employers if scholarships or matching programs are available for students. Try to plan for deadlines. During your student’s senior year, make sure he or she has submitted all materials such as the application and references.

Can I qualify for an academic scholarship?

Academic scholarships (institutional) are based on GPA and/or test scores and are determined during your admission process.  *Academic scholarships are awarded during admission only and are available to students enrolled in the traditional, four year, daytime programs.

What if I have a drastic change in my income compared to last year?

Changes in financial circumstance should be reported to the King University Financial Aid Office. Sometimes we are able recalculate eligibility, and additional sources of aid can be found to assist you.

How do I request an IRS tax transcript for verification?

Choose one of the two options below to order your IRS Tax Transcript:

  1. To order your free IRS Tax Transcript online visit Under the TOOLS heading, click on Order a Return Transcript. Go to step (3) and click on Order a Transcript.
  2. Call 800.908.9946 to request a copy of your IRS Tax Return Transcript.

How do I find the verification worksheets?

All verification worksheets are found in your financial aid portal under the Documents and Loan Info page.  If you have trouble finding it or downloading the worksheet, contact us via email at or call 423.652.4725.

How do I find out if you offer military benefits?

The military has programs to assist you in paying for college, check out Military Benefits to learn more.  You can also contact the financial aid office at 423.652.6021.

When will I know how much financial aid I can receive?

Each year in March the financial aid office will begin awarding financial aid. New students must be accepted for admission and file a FASFA to be awarded. Continuing students will be awarded when the FASFA is received. Please file early for maximum eligibility. An award letter will be emailed to your king college email account. Please follow the instructions carefully on- how to access your financial aid portal to accept/decline awards. Included with the award letter will be instructions on how to secure the aid you accept.

Can I receive more financial aid next year?

Generally, you will receive the same types and amounts of aid as you have this year.  There could be some fluctuation in the aid you receive from year to year based on changes to your FAFSA data.

Why isn’t my financial aid showing on my student account?

  1. You may need to access your financial aid portal and accept your aid.
  2. You may need to submit missing documentation.
  3. Your file was complete today and your aid will show on your account tomorrow.

When will my outside scholarship (scholarship received that is not awarded by King, the State or federal) show on my student account?

When the funds are actually received by King they will be posted to your student account.

Why is the financial aid showing on my student portal different that what is on my award letter?

Depending on timing:

  • Your financial aid has been revised and a new award letter was emailed to you.
  • It is within three weeks prior to the first day of class and the aid has not been secured (loan not applied for, missing documentation, etc.)
  • It is after the first day of class and the actual funds have not been received yet (mostly this is State aid and outside scholarships)

When will I receive a check for the excess of my financial aid?

The business office will issue checks approximately two weeks after the start of school.  A check request form should be completed on the student portal. A credit on account must exist for a check to be issued.

What happens to my financial aid if I drop below full time?

If you drop below full time before the end of the drop/add period your financial aid is pro-rated based on the number of hours you register for.  Traditional students that drop hours after the drop/add period will have no change to financial aid or charges. You must be enrolled full-time to continue your eligibility for institutional scholarships/grants. Please read the withdrawal policy carefully in catalog prior to dropping a class.

I am going to withdraw from King, what will happen to my financial aid?

Your financial aid is pro-rated based on the number of days you attended classes, you will be notified by the business office of the outcome after the calculation is completed. Please check the academic catalog and bulletin for detailed information on withdrawal.

Is there a GPA that must be maintained for eligibility?

Degree seeking students will be subject to the Title IV Satisfactory Academic Progress Policy/King Scholarship Policy.

How do I find out more about the Tennessee Lottery Scholarship?

To find out if you qualify or to do a change of institution form: Click here for more information.

Who is eligible for the Tennessee Lottery scholarship?

Tennessee residents who graduate from an eligible high school, home school, or GED program with a minimum 21 ACT (Composite)/980 SAT (Math and Critical Reading only) or a 3.0 final weighted GPA. Home school and GED students must have the minimum ACT/SAT score. GED students must have a minimum of 525 on GED test.

What is the award amount for the Tennessee Lottery Scholarship?

The award amount for a 4-year institution has a new rule in place: $3,500 for new freshman and sophomore and then $4,500 for juniors and seniors. For transfers or returning students, it is the original $4,000. Check with the Financial Aid Office to see which rule you fall under.

Do I have to complete the FAFSA to receive the Tennessee Lottery Scholarship?

Yes, the FAFSA needs to be completed to be eligible.

How long do I have after high school graduation to be eligible for the Tennessee Lottery Scholarship?

You must enroll in a Hope eligible postsecondary institution within 16 months of graduation from an eligible high school, homeschool, or GED program.

Do I have to be a full time student to be eligible for the Tennessee Lottery Scholarship?

Not initially, you can be enrolled for half time (at least 6 hours) to be eligible.  However, if a student begins the semester as full time then they must seek approval with the Financial Aid office in order to drop to part time within the same term.

Can I lose the Tennessee Lottery Scholarship?

Yes, the state of Tennessee requires that the student maintain a certain GPA to be eligible for the scholarship. There are checkpoints (called benchmarks) at hourly intervals that are required.  The student can only lose the scholarship at one of the designated benchmarks if they do not meet the GPA requirement. For students who first received Hope in Fall 2009 and thereafter there is also a cap of 120 attempted hours, once this is reached the student is no longer eligible to receive funds.

If I lose the Tennessee Lottery Scholarship, can I regain it?

Yes, the state provides a onetime regain provision. The student will need to have the required GPA at the next designated checkpoint and request to use the regain provision.

If I decide to skip a semester of college, will I lose the Tennessee Lottery Scholarship?

Yes, the student must be continuously enrolled to receive the scholarship.

Are home-school high school graduates eligible for the Tennessee Lottery Scholarship?

Yes, they are required to have a 21 ACT or a 980 SAT on a national test date.

When are the benchmarks for the Tennessee Lottery Scholarship?

The institution will review eligibility at the end of the term in which the student has attempted 24, 48, 72, 96 and 120 credit hours.  An attempted hour includes all courses attempted after high school graduation, from all colleges.

What is the required GPA to retain the Tennessee Lottery Scholarship?

2.75 at the 24 and 48 hours benchmarks and 3.0 thereafter.  The Lottery GPA includes all the GPA’s from all courses attempted after high school graduation, from all colleges.  Additional provisions related to the GPA requirement can be viewed at

What is Satisfactory Progress?

Satisfactory progress is a federal requirement that all students receiving financial aid must satisfactorily be meeting all requirements of the Title IV Satisfactory Academic Progress Policy. This policy is described in the catalog.

Will the institution notify me if I do not meet satisfactory progress requirements?

Yes, the institution will send you a letter indicating your deficiencies.  Included are options to make up your deficiencies. Your financial aid will be removed until you correct the deficiencies.

Is there an appeal process for satisfactory progress issues?

There is an appeal process.  The timeline for submitting an appeal will be noted in the letter you receive.

When is satisfactory progress evaluated?

Satisfactory progress evaluation occurs at the end of semester.

Am I eligible for a Federal Direct Loan?

A student enrolled in a degree-seeking program is eligible for a Federal Direct Loan providing the student has not defaulted on any previous federal student loans.

How do I apply for a Federal Direct Loan?

Your loans are automatically awarded to you after your FAFSA is processed. You have the choice to accept/decline the loans. If you do accept, please complete the entrance counseling and Master Promissory Note.

How much Direct Loan money can I borrow?

Annual amounts are determined by grade level and dependency status, which is determined by questions answered on the FAFSA (Free Application for Federal Student Aid) *Subsidized loans are awarded based off need and not applicable to all students* :

For a dependent student (aggregate limit is $31,000):

First-year student: $3,500 subsidized, $2,000 unsubsidized = $5,500

Second-year student: $4,500 subsidized, $2,000 unsubsidized = $6,500

Third-year student: $5,500 subsidized, $2,000 unsubsidized = $7,500

Fourth-year student: $5,500 subsidized, $2,000 unsubsidized = $7,500

For an independent student (aggregate limit is $57,500):

First-year student: $3,500 subsidized, $6,000 unsubsidized = $9,500

Second-year student: $4,500 subsidized, $6,000 unsubsidized = $10,500

Third-year student: $5,500 subsidized, $7,000 unsubsidized = $12,500

Fourth-year student: $5,500 subsidized, $7,000 unsubsidized = $12,500

For a graduate student (aggregate limit is $138,500):

First-year and beyond: $20,500 unsubsidized

What is a Parent Plus loan?

A Federal Parent Plus loan is a loan that the student’s parent applies for.  It helps with the educational costs for the student. The parent must be credit worthy.  The parent can apply at

Can I borrow additional money from the Federal Direct Loan Program?

A dependent student is only eligible to borrow additional Direct Loan funds when your parent applies and is denied a Federal Parent Plus Loan.  The eligible amounts are determined by grade level:

  • First-year student: additional $4,000 unsubsidized
  • Second-year student: additional $4,000 unsubsidized
  • Third-year student: additional $5,000 unsubsidized
  • Fourth-year student: additional $5,000 unsubsidized

What if I am a dependent student and my parent(s) does not want to apply for a Parent Plus loan and I still have a balance due?

There are alternative, or private, educational loans available to students for educational purposes.  Some may require a co-signer, however, the loan is in the student’s name.  This type of loan is based on credit.  You must complete a Master Promissory Note with the lender.

What is the difference between a subsidized and unsubsidized Direct Loan?

A subsidized Direct Loan is a need-based loan and cannot exceed your financial need.  This is determined when you file your FAFSA.  If you are eligible for a Federal Subsidized Direct Loan, the Financial Aid Office will automatically award the amount in accordance with student grade level.  The Federal government pays the interest on the subsidized loan while you are enrolled at least half time in a degree seeking program. If the student does not demonstrate financial need, the student will be offered the Federal Unsubsidized Direct Loan. The unsubsidized loans do accrue interest while the student is in school.

What are the interest rates for a Federal Direct Loan?

For the 17/18 year, the rates are as follows:

Direct Subsidized LoansUndergraduate4.45%
Direct Unsubsidized LoansUndergraduate4.45%
Direct Unsubsidized LoansGraduate or Professional6.00%
Direct PLUS LoansParents and Graduate or Professional Students7.00%

When does the interest begin to accrue on a Federal Direct Loan?

Interest on Federal Direct Loans begins with the first disbursement of the loan.  The U.S. Department of Education pays the interest on subsidized Direct Loans, but does not on the unsubsidized loan.  Students can opt to pay interest only payments for unsubsidized Direct Loans while still in school.

When do I begin repayment of my student loans?

Repayments begin six-months after graduation or if a student drops below half-time enrollment.

I am continuing my education, but I am repaying previous student loans, can I defer payments?

Yes, you will need to contact your previous lender and they may require proof of enrollment in order for loans in repayment to be deferred until after you graduate or are not enrolled at least half time.

What will happen to my Direct Loan if I stop attending King?

You are required to complete loan exit consoling at Your grace period will start unless you enroll at least half time the next semester.

Are the Federal Perkins loans still available?

The federal government has phased out the Perkins loans program. If current students already had a previous Perkins loans, those are being grandfathered in but at a reduced amount. Contact the Financial Aid Office with any questions.

Where do I go to find out about previous student loans I have taken out?

You can go to NSLDS (National Student Loan Data System) and review all your loan information, including lender contact information.

How do I apply for an on-campus student employment?

The first step is to contact the Financial Aid Office to indicate your interest in student employment and check your eligibility.

How do I find out if there are jobs available?

Visit: Student Employment. This website contains the most up to date job postings. After reviewing the listings, you can then contact the department representative/supervisor for an interview. If you are a returning student, please contact your previous supervisor.

What is the hourly wage and how many hours can I work?

The pay rate is minimum wage and students may work a maximum of 8 hours per week.

I have been hired for a job. What do I need to do now?

Once you have selected a job, that supervisor has the hire packet. You will complete all paperwork with the supervisor and then they will turn that into Financial Aid. You will complete your direct deposit information in this packet as well. You can view the Student Employment Handbook by clicking here.

If I do not want financial aid, where do I go to make payments for deposit or tuition or to set up a payment plan?