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Financial Woes for Students in Tennessee

Jun 21, 2011

by Jessica Seals

Financial Woes for Students in Tennessee

Students with hopes of obtaining college degrees in the state of Tennessee now have more issues to worry about other than just getting accustomed to the college lifestyle: Negotiations have been taking place that will place an even bigger burden on the financial status of students.

Currently, students who have been living in Tennessee for at least a year can apply for a lottery scholarship formerly known as the HOPE Scholarship. This scholarship provides $4,000 to students who attend four-year public or private schools and $2,000 for students at two-year schools. A student could receive this award during each fall and spring semester for up to five years; however, legislators are currently working to put a 120-hour cap on the scholarship before the 2011-2012 school year begins. A 120-hour cap means that some students who have chosen to have more than one major will more than likely lose the scholarship before they graduate and have to find alternative ways to pay for school. This cap will reportedly only apply to students who began attending college in 2009 or after but depending on where students go to school, they could also be hit with tuition increases. Schools such as the University of Tennessee in Knoxville are hoping to implement a 12-percent tuition increase for the upcoming academic year.

This increase, along with a cap on lottery scholarships, has caused more students to become stressed out because it will be even tougher to pay for school. These limitations on financial aid could lead to an increase in students who drop out of college, a decrease in the number of students attending college and an increase in the amount of loans that students will have to take out. Will these changes impact your college experience? If so, how do you plan to address them?

Jessica Seals is currently a senior at the University of Memphis majoring in political science and minoring in English. At the University of Memphis, she is the secretary of the Pre-Law Society, the philanthropy chair of the Phi Kappa Phi Student Council and a member of Professional Assertive United Sisters of Excellence (PAUSE), Golden Key Honor Society, Alpha Lambda Delta Honor Society, Sigma Alpha Lambda Honor Society, and Black Scholars Unlimited. She also volunteers to tutor her fellow classmates and hopes to attend law school in the near future.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

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