Financial Aid

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Rhodes invests substantial funds in institutional financial assistance to help make it possible for students who are admitted to the College to attend. Currently, over 90% of Rhodes students receive some form of federal, state, institutional, or outside financial assistance, with total assistance amounting to over $100 million.

Most aid awarded by the College is offered as a combination of grant, loan and student employment. Rhodes takes full advantage of the available federal and state financial assistance programs when awarding financial aid to students. Additionally, through the generosity of loyal alumni and other friends of the College, Rhodes students benefit from a generous competitive fellowship and scholarship program.

Definitions

COA: Cost of Attendance (tuition, fees, room, and board, estimated cost of books, estimated personal/living costs and estimated transportation costs). The term “Direct COA” only includes tuition, fees, and estimated costs for books and supplies.

EFC: Expected Family Contribution; the minimum amount a family is expected to contribute for the student’s education for a given academic year. The EFC is calculated by the FAFSA and the CSS PROFILE and assumes families will finance education utilizing current income, past savings, and student and/or parental borrowing.
Demonstrated Need: The difference between the COA and the EFC.

FAFSA: Free Application for Federal Student Aid; used in awarding federal and state grants and scholarships as well as loans and student employment.

CSS PROFILE: A financial aid application that Rhodes uses to award Rhodes Grant funding. The CSS PROFILE is a product of The College Board.

SAP: Satisfactory Academic Progress: federal and institutional requirement that students must consistently progress toward completion of degree requirements; includes GPA and earned hours measured at the end of each academic year.

Financial aid APPLICATION PROCEDURES for prospective students

• Submit the CSS PROFILE (https://profileonline.collegeboard.com/): Early Decision applicants should complete the CSS PROFILE by November 1; Early Action by January 1; and Regular Decision by March 1. The code for Rhodes to receive the CSS PROFILE results is 1730.

• Submit the FAFSA (www.fafsa.ed.gov) between January 1 and March 1. The Title IV Code for Rhodes to receive the FAFSA results is 003519. All prospective students who want consideration for financial assistance, including Early Decision applicants, must complete the FAFSA as well as the CSS PROFILE. Early applicants who received a financial aid award package based on the CSS PROFILE must complete the FAFSA in February to confirm the package.

• Notification of financial aid awards for admitted Early Decision applicants will occur by December 10, with admitted Early Action applicants receiving financial aid awards by February 10 and admitted Regular Decision applicants by April 10.

• Students accept or decline financial aid awards online at http://banweb.rhodes.edu.

financial aid APPLICATION PROCEDURES for currently enrolled/returning students

Currently enrolled/returning students who wish to continue eligibility for need-based financial aid (and for the Tennessee Education Lottery Scholarships for Tennessee residents) must complete the FAFSA each year. Rhodes encourages students to complete the Renewal FAFSA as soon as possible between January 1 and March 1. Returning Tennessee students who qualified for the State grant (TSAA) in previous years must complete the FAFSA by March 1 to be considered for renewal.

The Department of Education will send renewal notices to students in January of each year via email. Returning students who are reapplying for financial aid do not need to complete the CSS PROFILE. The CSS PROFILE is required of first-time financial aid applicants only.

Financial Aid to Meet Need

If the results of the FAFSA reveal that a student has a financial need, Rhodes will normally offer the student a financial aid package that consists of gift-aid (federal and state grants) and self-help (loans and student employment). Rhodes funds, federal funds, state funds and funds provided to the student through outside organizations are all considered a part of the need-based financial aid package and are applied to need first, per federal regulations. The need-based programs commonly available at Rhodes are described on the following pages.

Grants

Rhodes Grant: Students may receive a Rhodes Grant along with other forms of assistance such as competitive scholarships/fellowships, student loans, and student employment. Rhodes Grants are not always need-based. Rhodes uses this funding to meet need and/or to offer assistance based on the overall characteristics of students who show promise of success at Rhodes and the ability and desire to take full advantage of all Rhodes has to offer. The annual value of a student’s Rhodes Grant remains constant throughout the student’s tenure at Rhodes. Exceptions to this are within the purview of the Financial Aid Office in response to extreme increases in demonstrated financial need (per the FAFSA, CSS PROFILE or other supporting financial documents) from one year to the next.

Federal Pell Grant: The federal government provides direct assistance to eligible students through the Federal Pell Grant Program. Eligibility for the Federal Pell Grant is determined by the results of the FAFSA.
Federal Supplemental Educational Opportunity Grant (SEOG): Federal Supplemental Educational Opportunity Grants are awarded by Rhodes to students with exceptional financial need, defined as those students who are eligible for Pell Grant. SEOG funds are limited.

Tennessee Student Assistance Award (TSAA): Students who are residents of Tennessee apply for the TSAA via the FAFSA. To be eligible, a student must have graduated from a Tennessee high school, have been a continuous resident of Tennessee for the twelve month period preceding the start of the academic year for which the grant is made, and have an EFC of $2,100 or less (subject to change per state funding). Further information may be obtained from the Tennessee Student Assistance Corporation, Suite 1950, Parkway Towers, 404 James Robertson Parkway, Nashville, TN 37243-0820. The phone number is (800) 342-1663 or (615) 741-1346. The web site is www.TN.gov/collegepays. The state of Tennessee is the final authority on eligibility for the program. Rhodes is not responsible for replacing lost state grant funding.

Ministerial Grant: As a church-related college, Rhodes will assist children of Presbyterian Church (U.S.A.) ministers with a $1,000 ministerial grant above any Rhodes grant or scholarship previously awarded. Dependents of PCUSA ministers should indicate their interest in the Ministerial Grant on the Rhodes Part I Application for Admission/Common Application Supplement.

Tennessee Education Lottery Scholarship Program (TELS): The state of Tennessee offers scholarships of up to $5,500 for Tennessee residents who attend an approved college or university in Tennessee. The FAFSA is the application for the TELS funding and must be completed by state-established deadlines, as indicated on FAFSA on the Web at www.fafsa.gov. Information on all requirements for the TELS may be found at www.TN.gov/collegepaystn.com. The state of Tennessee is the final authority on eligibility for the program. Rhodes is not responsible for replacing lost state grant funding.

Loans

Federal Perkins Loan: Rhodes awards Federal Perkins Loans to students who demonstrate exceptional financial need. The Perkins Loan is a 5% interest loan on which no interest is charged and no payments are made as long as the student is enrolled at Rhodes for at least 6 credits. Repayment begins nine months after the student ceases being at least a half-time student. Repayment of the Perkins Loan may extend over a 10-year period. Perkins funds are limited and loan amounts may vary from year to year.

Federal Direct Student Loan Program: These federal loans up to $5,500 are available to first-year undergraduate students. Upon earning 30 credits, students may obtain loans up to $6,500 for the sophomore year, and, upon earning 63 credits, students may obtain loans of up to $7,500 per year for the remaining years of undergraduate study.

Federal Direct Loans are either subsidized or unsubsidized. In the case of a subsidized loan, the federal government pays the interest while the student is enrolled in an eligible institution on at least a half-time basis. In the case of an unsubsidized loan, the student is responsible for interest payment while enrolled at least half-time. Repayment begins six months after the student graduates or ceases to be enrolled at least half-time. The maximum repayment period is ten years, and the interest rate currently is fixed at 3.86% for both subsidized Federal Direct Loans and unsubsidized Federal Direct Loans. This rate may change as federal legislation changes.

Student Loan of the Presbyterian Church (U.S.A.): Up to $1,000 annually may be borrowed from the Student Loan Fund administered by the General Mission Board on behalf of the Presbyterian Church. The student must have been a member of the denomination continuously for at least one year immediately preceding the date of application. Evidence of financial need is required. Students interested in this loan should address all communications to:

Presbyterian Church (U. S. A.)
Office of Financial Aid for Studies
100 Witherspoon Street
Louisville, KY 40202-1396
Telephone: (888) 728-7228
http://www.pcusa.org/financialaid

Student Employment

Student employment programs at Rhodes include the Federal Student Employment Program and the Rhodes Student Employment Program. When an offer of student employment of any type is extended by the College and accepted by the student, this offer does not guarantee that the student will earn the full amount of the award. The student will be paid only for the hours worked, and the award amount represents maximum gross wages a student may earn. Earnings are paid directly to the student; they are not credited to the student’s account in the Bursar’s Office. To receive a pay check, a student employee must have an I-9 form on file in the Financial Aid Office and a current W-4 form on file in the Accounting Office.

Federal Student Employment Program (FWS): Through the Federal Student Employment Program, part-time employment is offered to students to help them meet their financial need. A student may work for no less than the prevailing minimum wage rate for as many as forty (40) hours per week during the summer and for an average of eight (8) hours per week while enrolled as a regular student during the academic year.

Rhodes Student Employment Program (CCE): Employment on the campus may be offered through the Rhodes Student Employment Program to students who do not demonstrate financial need. In these cases, employment will be offered only after those commitments made to students eligible for the FWS Program (described above) are honored. Students in this category (no demonstrated need) who desire employment on campus should complete a Student Employment Application, which is found on the Rhodes Financial Aid website. A student may work for no less than the prevailing minimum wage rate for as many as forty (40) hours per week during the summer and for an average of eight (8) hours per week while enrolled as a regular student during the academic year.

Rhodes Student Associate Program (RSAP): Through the RSA Program employment may be offered on a part-time basis regardless of financial need. Employment earnings count toward the students cost of attendance and go to meet need. A student may apply for RSAP beginning in the spring of their freshman year as applications become available. A student may work up to fifteen hours per week during the academic year only. Summer employment is not available in this program. A student may not hold another job on campus in conjunction with their RSA position including the Bonner and CODA fellowships.

Withdrawal From Rhodes and Return of Funds

Return of Federal Title IV Student Aid: When a student who has Federal Title IV student aid withdraws from the College or does not return from an approved leave of absence, or takes an approved leave of absence for longer than 180 calendar days (including summer), the unearned portion of those funds must be returned to the federal student aid programs. Federal Title IV funds that may have to be returned include the Federal Pell Grant, the Federal Direct Loan, the Federal Direct Parent Loan for Undergraduate Students (PLUS), the Federal Perkins Loan and the Federal Supplemental Educational Opportunity Grant (SEOG). The unearned portion of Federal Title IV funds is determined by dividing the number of days in the term that have passed as of the date of withdrawal (last date of class attendance) by the total number of days in the term. If the withdrawal occurs after 60% of the term has elapsed, no return of Title IV funds is required. The Bursar’s Office calculates the Return of Title IV funds amount and informs the Financial Aid Office and the student of the results of the calculation.

Federal regulations require funds be returned to federal programs in the following order: Unsubsidized Federal Direct Loans, Subsidized Federal Direct Loans, Federal Perkins Loans, Federal Direct PLUS Loans. If funds remain after repaying all loan amounts, the remaining funds are repaid to Federal Pell Grants and Federal Supplemental Educational Opportunity Grants (SEOG).

Return of State and Institutional Student Aid: When a student who has state and/or institutional student aid withdraws from the College or does not return from an approved leave of absence, or takes an approved leave of absence for longer than 180 calendar days (including summer), the College returns the unearned portion of those funds to the state and/or the College.

Student Financial Responsibility: Students and parents should be aware that the requirement to return Federal Title IV assistance and the policy to return state and institutional aid might result in a balance due to Rhodes College; the student and/or student’s family is responsible for paying any balance resulting from the return of Title IV aid and state and institutional funds.

Scholarships and Fellowships

Financial need is not a consideration in awarding scholarships and fellowships at Rhodes, with the exception of the Bonner Scholarship. Federal regulations, however, do require that any assistance, including competitive scholarships and fellowships, first apply towards the demonstrated need when awarding need-based aid.

Rhodes’ competitive scholarships and fellowships are awarded only to entering students. Returning students not initially offered a competitive scholarship or fellowship will not be considered for a competitive scholarships or fellowship at a later time. Returning students who have been awarded a competitive scholarship or fellowship will not be considered for scholarships or fellowships of greater value as they progress through Rhodes.

All qualified applicants are automatically considered for Rhodes’ competitive scholarships and fellowships, unless a separate application is required and specified.

Please note: A description of our broader FELLOWSHIPS PROGRAM, which provides opportunities for research, service, creative activities, internships and study abroad during the academic year and over the summer, can be found in the OPPORTUNITIES FOR INDIVIDUALIZED STUDY section of this catalogue. Many of these opportunities include stipends.

Competitive Scholarships

Competitive scholarships are awarded on the basis of a candidate’s academic record, leadership, character, and personal achievements. Competitive scholarships may be renewed for a maximum of three renewals provided the student meets the financial aid satisfactory academic progress standards, the GPA requirements of the scholarship; however, the student must maintain full-time student status (at least 12 credits) through the extended drop period of each semester. The total amount of Rhodes-funded scholarships, fellowships and grants may not exceed tuition, fees, room, and board.

Morse, Cambridge, Ralph C. Hon, Diehl, and Presidential Scholarships and Rhodes Awards. Scholarships are awarded to entering students based on the candidate’s academic record, leadership, character, and personal achievements.

Dean’s Scholarships. Dean’s Scholarships are awarded to outstanding entering students-of-color each year.

Competitive Fellowships

At Rhodes, we have taken traditional scholarships a step further by allowing students to invest in themselves through professional internships, community service, research or other requirements in exchange for financial assistance. In addition to funding, recipients of fellowships receive real-world experience that puts their education into action. Competitive fellowships for incoming students are awarded to students based on academic ability, leadership, character, personal achievement, or special talents and provide service, research, or internship opportunities to recipients. Most fellowships require the submission of a separate application.

Fellowships may be renewed for a maximum of three renewals provided the student meets the financial aid satisfactory academic progress standards, the GPA requirements of the fellowship, and the service, internship, research, or other requirements of the fellowship. In addition, the student must maintain full-time student status (at least 12 credits) through the extended drop period of each semester to continue to receive the fellowship. The total amount of Rhodes-funded scholarships, fellowships and grants may not exceed tuition, fees, room, and board.

Walter D. Bellingrath Fellowships. Bellingrath Fellowships, each with a stipend equal to the full cost of tuition at Rhodes, are awarded to the College’s most outstanding first-year students.

Fine Arts Fellowships. Fine Arts Fellowships are made each year to entering students who have demonstrated outstanding achievement in the areas of art, music and theater. Auditions are required in music and theatre, and art requires the submission of slides. The Fine Arts Fellowships are valued up to $13,000 per year. If a student qualifies for a Fine Arts Fellowship and another competitive scholarship or fellowship, only one scholarship or fellowship (whichever is greater) will be awarded. Winners of these fellowships are required to major or minor in a Fine Arts discipline while at Rhodes.

Spencer Fellowships in Greek and Roman Studies. Spencer Fellowships are awarded to first-year students who have distinguished themselves in the study of Latin, ancient Greek or the civilizations of ancient Greece and Rome. Each year, up to three Spencer Fellowships are awarded in the amount of $2,000 to $3,000 in addition to any other Rhodes grant or fellowship received. The fellowships are renewable for three years provided the student meets the financial aid satisfactory academic progress standards, maintains a 2.75 cumulative GPA, and participates in the Greek and Roman Studies program.

Jack H. Taylor Fellowship in Physics. The Taylor Fellowship in Physics recognizes talented high school physics students and encourages their continued college development in physics. The Fellowship is valued up to $15,000 per year based on the qualifications of the recipient and is in addition to any other Rhodes grant or fellowship the student may receive. At least one Fellowship will be awarded to a first-year student each year.

Bonner Scholarships. The Bonner Scholarships are for students who have demonstrated an exceptional record of leadership and service participation in their communities and who wish to become effective leaders who promote positive change in the world. The Bonner Scholarships are awarded on a competitive basis and support fifteen first-year students who have competitive SAT or ACT scores, a strong high school record, and demonstrate an outstanding record of leadership, community service and/or social justice work.

To be eligible, the student’s family must have a federal Expected Family Contribution (EFC) below $10,500 (with a few exceptions made for outstanding candidates). Scholarships are valued at $12,500 and are in addition to any Rhodes grant or scholarship the student may receive. Bonner Scholars are also awarded funding for two summer service projects, access to a community fund to support service projects, and up to $1,600 for the purpose of reducing total educational loan indebtedness upon graduation from Rhodes.

Clarence Day Scholarship. Day Scholarships are made each year to entering students who are from Shelby County and who have demonstrated a strong interest in the Memphis community. Students must have a strong academic record and have intentions of staying in Memphis after graduation. The scholarship is renewable for three years provided the student meets the renewal criteria. The average award is $25,000 per year and an opportunity for a one-time fellowship experience with a stipend of $5,000. In addition to the award amount, a student’s financial need to cover direct costs is met with scholarship, grant, and work. Loans may be offered to assist with indirect costs or offset calculated family contribution.

Other Scholarships and Awards

Rhodes College-Sponsored National Merit Scholarships. Awards sponsored by Rhodes may be offered to first-year students who are designated as finalists in the National Merit Scholarship competition and who have designated Rhodes as their first choice. Recipients may not receive other National Merit Scholarships. The minimum value of the scholarship is $500. However, if the candidate has financial need, as demonstrated on the FAFSA, the value of the award can be up to a maximum of $2,000. The awards are renewable for three years provided the student meets the financial aid satisfactory academic progress standards.

The Presbyterian Partnership. Because Rhodes shares an important relationship with the Presbyterian Church (U.S.A.), a special scholarship program, called the Presbyterian Partnership, has been established. Through this program Rhodes seeks to strengthen its ties with the Church and to help students obtain the distinctive and high quality education available at Rhodes. In the program, the Session of a Presbyterian church may nominate a student to receive a Partnership grant of $1,000, $2,000 or $4,000. The church contributes one-half of the Partnership grant to Rhodes, and the College supplies the other half and applies the total to the student’s account. Any institutional grant or scholarship previously awarded the recipient by Rhodes will be used to match the Church’s portion of the scholarship (i.e. no additional grant or scholarship aid will be awarded). Eligibility requirements for a Partnership Scholarship are:

  • The student must be nominated by the Session of a local Presbyterian Church (U.S.A.).
  • Only first-year students and transfer students are eligible for an initial Partnership Scholarship.
  • The recipient must meet all requirements for admission to Rhodes as a full-time student and maintain satisfactory academic progress at all times.

Interested students should contact their pastor or Clerk of Session to see if their church is willing to enter into a Partnership agreement with Rhodes. If the church wishes to participate, the church should write a letter to the Rhodes College Financial Aid Office specifying the annual amount of the Presbyterian Partnership it wishes to partner with Rhodes. As mentioned above, one-half of that annual amount will be furnished by the church and the other half will be furnished by Rhodes, provided no other Rhodes scholarship/fellowship/grant has been awarded. For further information about the Presbyterian Partnership

Program, contact the Financial Aid Office.

National Presbyterian College Scholarships. Rhodes participates in the National Presbyterian College Scholarship Program. Rhodes may co-sponsor one award each year to an entering first-year student. This award, based on financial need and ranging in value from $700 to $1,400, is renewable for up to three additional years provided the student meets the financial aid satisfactory academic progress standards.
The National Presbyterian College Scholarship Selection Committee will determine the winner from those applicants who indicate on the application that Rhodes is their first choice among the participating Presbyterian Colleges. Application forms may be obtained from and must be returned by January 31 to:

National Presbyterian College Scholarships

Presbyterian Church (U.S.A.)
Financial Aid for Studies
100 Witherspoon Street Mezzanine
Louisville, KY 40202-1396
http://www.pcusa.org/financialaid/

American Field Service Returnee Scholarships. Rhodes will provide up to five (5) AFS Returnee Scholarships valued at $500 per year and renewable for up to three additional years provided the student meets the financial aid satisfactory academic progress standards. The scholarships are available on a competitive basis to any AFS returnee who is offered admission to the College.

HOBY Scholarships. These scholarships are available on a competitive basis to any participant in a HOBY seminar who is offered admission to the College. The scholarship is valued at $500 per year and is renewable for three years provided the student meets the financial aid satisfactory academic progress standards. A maximum of five (5) HOBY Scholarships will be awarded each year.

Youth for Understanding Scholarships. Rhodes will provide up to five (5) YFU Scholarships per year valued at $500 and renewable for three additional years provided the student meets the financial aid satisfactory academic progress standards. The scholarships are available on a competitive basis to any YFU participant who is offered admission to the College.

Army ROTC Scholarships. Rhodes students may compete for Army ROTC scholarships providing college tuition and educational fees. Awardees also receive a book allowance of $600 per semester and a stipend varying from $350 - $500 per month from the Army (estimated).

Students awarded an Army ROTC scholarship may receive a Rhodes Grant equivalent to the cost of on-campus room and board based upon the 21 meal, standard multiple occupancy room rate. The Rhodes Grant will be awarded unless the student has already received a Rhodes College scholarship, fellowship or grant equal to or greater than the indicated grant amount. Rhodes Grants are renewable for three years as long as the student retains his/her ROTC Scholarship and meets the satisfactory academic progress standards for financial aid. Information about Army ROTC Scholarships may be obtained by writing to Army ROTC, The University of Memphis, Memphis, TN 38152, or by calling Army ROTC at (901) 678-2933.

Air Force ROTC Scholarships. Through an agreement between Rhodes and the United States Air Force, Rhodes students may participate fully in the AFROTC program based at the University of Memphis and can compete for AFROTC scholarships. Incoming freshman can compete for four, and in certain cases, five year scholarships by applying for an AFROTC College Scholarship (CSP) online at www.afrotc.com. Applicants must apply no later than December 1 of the year prior to entering college as a first-year student. Scholarships awarded through the CSP program include: (1) full-tuition and fees (Type 1); (2) up to $15,000 per year towards tuition and fees (Type 2); and (3) up to $9,000 per year towards tuition and fees (Type 7). Students not selected for a CSP scholarship, if eligible, can compete for a scholarship through the In College Scholarship Program (ICSP) once they are enrolled at Rhodes and in AFROTC. These scholarships include: (1) up to $15,000 per year towards tuition and fees (Type 2); (2) up to $9,000 towards tuition and fees (Type 3); and up to $3,000 towards tuition and fees (Type 6). Students who receive the Type 2 scholarships through CSP or ISCP are eligible to compete for an upgrade to 80 percent of tuition and fees. All AFROTC scholarship programs include a $900 per year book allowance.

Scholarship awardees who receive the Type 1 scholarship are also eligible to receive a Rhodes grant equivalent to the cost of on-campus room and board based upon the 21 meal, standard multiple occupancy rate. Those students who are awarded the Type 2 scholarship may receive a Rhodes grant equivalent to fifty percent (50%) of the on-campus cost of room and board based upon the 21 meal, standard multiple occupancy rate. The Rhodes grant will be awarded unless the student has already received a Rhodes College scholarship, fellowship or grant equal to or greater than the indicated grant amount. Rhodes grants are renewable for up to three years as long as the student retains his/her ROTC Scholarship and meets the satisfactory academic progress standards for financial aid. Please note that if a Type I recipient chooses to live at home or with relatives, the amount of the Rhodes grant plus the Air Force Type I scholarship cannot be more than Rhodes’ cost of attendance for a commuter student living with relatives.

For details regarding the AFROTC program or scholarships contact the Unit Admissions Officer, Air Force ROTC Detachment at (901) 678-2681 or visit the AFROTC Detachment 785 website at www.afrotc.memphis.edu.

Edscholar Scholarships. Normally one EdScholar Scholarship is awarded biannually to first-year students who are Tennessee residents. Selection of scholarship recipients is based on the student’s community service/leadership record, academic achievements and financial need. The Edscholar Scholarship has a stipend of $7,000 per year for four years and will be renewed yearly as long as the recipient remains a full-time student at Rhodes and maintains a 2.50 grade point average. The scholarship is funded by Edfinancial located in Knoxville, TN.

Outside Scholarships. Scholarships from other organizations may also be available to students who attend Rhodes. Some of these awards are administered through high schools. However, in most cases, the student applies directly to a club or association. Interested students should work with their high school counselors to learn of those scholarships available in their area. Please note that outside scholarships, like the above aid, become part of the financial aid package and assist in meeting demonstrated financial need. Students must notify the Rhodes Financial Aid Office of any outside funding he or she receives. A student may not receive more aid than the published cost of attendance at Rhodes. Federal and/or state aid may need to be reduced in instances when aid from all resources exceeds cost of attendance.

Tuition Exchange Programs

Associated Colleges of the South (ACS). Children of employees of ACS participating institutions are eligible to be considered for the ACS Tuition Exchange.

Rhodes’ agreement with ACS indicates that for any given academic year, ACS “imports” (students attending Rhodes as an ACS Tuition Exchange student) will not exceed “exports” (children of Rhodes employees attending another ACS college under the agreement) by more than three students.

Each ACS Tuition Exchange recipient pays a participation fee of $1,500 per academic year. The ACS Tuition Exchange benefit is equivalent to full tuition at Rhodes and is renewable for three years provided the student meets the financial aid satisfactory academic progress standards and meets the eligibility requirements indicated above. Recipients may be required to live in a residence hall at the College’s discretion. Participants must be full-time degree candidates.

ACS Tuition Exchange benefits may be used for one of the following Rhodes study abroad programs: European Studies or Rhodes Exchange. All other study abroad programs are ineligible programs for ACS Tuition Exchange benefits.

Interested students must specify that admission is being sought under the ACS Tuition Exchange program, apply for all state and/or federal aid for which he or she may be eligible, and have submitted an ACS Tuition Exchange certification form completed by the appropriate official at their home institution certifying their eligibility for the exchange. Eligible students must meet Rhodes’ normal admission requirements.
Association of Presbyterian Colleges and Universities (APCU). Students who are the dependent children and spouses of full-time faculty and staff in APCU colleges which have endorsed the Plan are eligible to be considered. Eligible students must meet Rhodes’ normal admission requirements to be considered.

Rhodes’ agreement with APCU indicates that for any given academic year, APCU “imports” (students attending Rhodes as an APCU Tuition Exchange student) will not exceed “exports” (children of Rhodes employees attending another APCU college under the agreement) by more than one student.

The APCU Tuition Exchange benefit is equivalent to full tuition at Rhodes and is renewable for three years provided the student meets the financial aid satisfactory academic progress standards and meets the eligibility requirements indicated above. Recipients may be required to live in a residence hall at the College’s discretion.

APCU Tuition Exchange benefits may be used for one of the following Rhodes study abroad programs: European Studies or Rhodes Exchange. All other study abroad programs are ineligible programs for APCU Tuition Exchange benefits.

Interested students must specify that admission is being sought under the APCU Tuition Exchange Agreement and have submitted a letter to the Office of Financial Aid from the president of his/her home institution certifying eligibility for the program.

Satisfactory Academic Progress (SAP) for Renewal of rhodes-funded Financial Aid and Competitive Scholarships/Fellowships

Normally, all forms of institutional financial aid offered by Rhodes are awarded for eight (8) semesters as long as the student meets the SAP standards for renewal of financial aid and, for competitive scholarships and fellowships, maintains the required GPA.

Rhodes scholarships, fellowships, and grants may only be used for study at Rhodes or for approved study in the Rhodes European Studies and Exchange programs.

Funds are not available for summer terms or for studies at or through other institutions. Rhodes funds are not available to students enrolled less than full-time (at least 12 credits) unless an exception is formally approved by the Disability Support Committee (see Students with Disabilities).

Satisfactory Academic Progress (SAP) for Renewal of FEDERAL (TITLE IV), STATE, AND INSTITUTIONAL AID, includING FEDERAL plus (PARENT LOAN FOR UNDERGRADUATE STUDENTS)

A student will have financial aid renewed in succeeding years if the student meets the following requirements:

  • attains a total cumulative grade point average of at least 2.00 in all course work at Rhodes and
  • has earned at least 28 credits of course work by the beginning of his/her third semester of study at Rhodes;
  • has earned at least 60 credits of course work by the beginning of his/her fifth semester of study at Rhodes;
  • has earned at least 92 credits of course work by the beginning of his/her seventh semester of study at Rhodes

NOTE: These standards apply to satisfactory academic progress for financial aid only and do not establish class standing. If changes to the policy above occur prior to the next publication of the Catalogue, the online version of the Catalogue will be updated while awaiting the next publication date for the bound Catalogue.

Additional requirements for renewal of federal (Title IV), state, and institutional aid, including Federal PLUS

  • Students must be enrolled at least half-time (6 credits) in order to be eligible for any Title IV (except Pell Grant) or state assistance. Rhodes Grants requires full-time enrollment (at least 12 credits).
  • For federal and state aid, the maximum time frame in which a student can complete a degree is six (6) years, and the minimum number of credits to be completed at the end of any one of the six years is one sixth of the total number of credits required for a degree (see Graduation Requirements). For any Rhodes-funded aid, the maximum time frame is four (4) years or eight (8) semesters. For the Tennessee Lottery Scholarships, the maximum time frame for receipt of these funds is 136 attempted credits of course work.
  • Grades and cumulative earned credits are reviewed at the end of each academic year for all students, unless stated otherwise by the Director of Financial Aid.
  • All students must maintain a minimum cumulative grade point average at Rhodes of 2.00. Should a student’s aid eligibility be revoked due to the student not meeting the above minimum standards, the student may appeal for a variance from the satisfactory academic progress requirements for one term. The appeal should be submitted to the Director of Financial Aid in writing by email or by letter. If the variance request is approved, the student’s aid will be reinstated based on the conditions and length of the approval as stated by the Director of Financial Aid. This decision is communicated via Rhodes email to the student.
  • Enrollment status is based on the recorded enrollment at the end of the “extended drop period” each term.

Definitions and regulations concerning full-time student status, course schedule changes, unauthorized withdrawal from class, and removal of conditional grades are stated in other sections of the College Catalogue.

Students With Disabilities

Students with disabilities who are taking a reduced course load and who have received approval of full-time status will not be denied consideration for Rhodes financial aid. The amount of aid awarded, however, will be reduced to the proportionate amount that corresponds with the student’s course load. For example, a minimum of 12 credits per semester is required to receive Rhodes-funded student aid as a full-time student. If a student has received approval from the Disability Support Committee to be considered a full-time student for a course load of 8 credits in a given semester, the Rhodes-funded aid will be reduced to 2/3 of the amount it would have been if the student were taking 12 or more credits. A course load of 6 credits will always be considered to be half-time. No Rhodes-funded aid will be available to any student who is enrolled less than half-time. Additionally, students with disabilities will be eligible to receive Rhodes-funded aid for a maximum of 12 semesters or 150% of the standard time required for completion of a Bachelor’s degree; the total Rhodes-funded aid will be limited to the amount the student would have received for 8 semesters taking standard course loads.

Renewal of Competitive Scholarships

Morse Scholarships may be renewed for three years as long as the student maintains a grade point average of 3.00 or better and meets the minimum satisfactory academic progress standards for renewal of financial aid described previously.

Cambridge Scholarships may be renewed for three years as long as the recipient maintains a grade point average of 2.75 or better and meets the minimum satisfactory academic progress standards for renewal of financial aid described previously.

Dean’s Scholarships, Presidential Scholarships, Hon, Diehl, Day and Memphis Scholars Scholarships may be renewed for three years as long as the recipient maintains a grade point average of 2.50 or better and meets the minimum satisfactory academic progress standards for renewal of financial aid described previously.

Rhodes Awards and Rhodes Grants may be renewed for three years as long as the recipient maintains a grade point average of 2.00 or better and meets the minimum satisfactory academic progress standards for renewal of financial aid described previously.

Renewal of Competitive Fellowships

Bellingrath Fellowships may be renewed for three years as long as the student maintains a grade point average of 3.25 or better, meets the minimum satisfactory academic progress standards for renewal of financial aid described previously, and provides ten hours per week of service to the admission office.

Fine Arts Fellowships may be renewed for three years as long as the student has declared, or is making satisfactory progress toward, a major or minor in one of the fine arts. The student must also maintain a grade point average of 2.75 or better and meet the minimum satisfactory academic progress standards for renewal of financial aid previously described.

CODA Fine Arts Fellowships may be renewed for three years as long as the recipient maintains a grade point average of 2.75 or better, meets the minimum satisfactory academic progress standards for renewal of financial aid described previously, and participates in a mentored fine arts research and leadership project that will involve approximately ten hours per week.

Spencer Fellowships in Greek and Roman Studies may be renewed for three years as long as the recipient maintains a grade point average of 2.75 or better, meets the minimum satisfactory academic progress standards for renewal of financial aid described previously, and has declared, or is making satisfactory progress toward, a major or minor in Greek and Roman Studies.

Taylor Fellowships may be renewed for three years as long as the student maintains a grade point average of 3.00 or better, meets the minimum satisfactory academic progress standards for financial aid as described previously, is making satisfactory progress toward a major or minor in physics (as determined by the Physics Department), and provides five hours per week of service to the Physics Department.
Bonner Scholarships may be renewed for three years as long as the recipient meets the minimum satisfactory academic progress standards for renewal of financial aid described previously, maintains a 2.50 grade point average, is involved in community service and leadership programs for an average of ten hours per week, completes two summers of full-time community service for a total of 280 hours over at least a seven-week period, participates in the College’s Leadership Program, and participates in the Bonner Scholars service trip at the end of the student’s first year at Rhodes.

Revision of Financial Aid Awards

Financial aid is dynamic and may change as new information becomes available to the Rhodes Financial Aid Office. Any financial aid package is subject to revision (even during the academic year) for any of the following reasons:

  • In the process of verifying the information the student/parent reported on the need analysis form(s) (FAFSA and/or CSS PROFILE), an error is discovered which, when corrected, changes the student’s eligibility.
  • A change in regulations governing federal or state programs occurs and requires an adjustment to be made.
  • Funding levels in federal or state programs are reduced.
  • The student receives additional financial assistance, including, but not limited to, outside scholarships, from a source not listed on the most recent award notification or on the BannerWeb.
  • The student fails to meet satisfactory academic progress standards for renewal of financial aid.
  • The Financial Aid Office discovers any error, clerical or other, on your award.
  • The student fails to complete required financial aid applications for need-based federal, state and institutional aid, including any documents required for verification of FAFSA information.

Please note that any aid reduced based on the above will not be replaced by Rhodes-funded grant.

Financial Aid for Study Abroad

Rhodes students enrolled in study abroad programs administered (sponsored) by Rhodes (European Studies and Rhodes exchange programs) are eligible for competitive-based and need-based financial aid from Rhodes on the following basis:

  • The total cost of such a program will be defined as tuition, participation fee (if any), an allowance for round trip airfare, a reasonable allowance for ground transportation in the foreign country, an allowance for room and board, books and required supplies and an allowance for incidental personal expenses. The student must report these costs to the Financial Aid Office via a Consortium Agreement.
  • The expected family contribution will be calculated using the results of the FAFSA.
  • All forms of financial aid for which the student would normally qualify will be applicable, including Rhodes grants and scholarships, campus-based Title IV and other Title IV funds, as well as any outside loans or scholarships the student might have. However, the sum of Rhodes need-based grant and competitive-based scholarship awarded for the term of the program may not exceed the tuition charge at Rhodes for one semester. Student employment income will be replaced by additional loan, if requested, and need in excess of the cost of attending Rhodes will be met by loan or by the student’s family.
  • In cases where the total cost of the study abroad program is less than the total cost of a semester at Rhodes (as a resident student), the financial aid package will be based on the cost of the study abroad program.
  • Rhodes students receiving financial assistance from the College who choose to participate in one of Rhodes’ exchange programs are considered to be Rhodes students. The financial aid awarded to the student to meet the costs of the exchange program are considered expended for the original length of the program. In other words, a student who elects to participate in a one year exchange program is considered to have been awarded two semesters of aid. If the student decides not to complete the full year of the program, the student should realize that two semesters of aid have been used, even though the entire program was not completed.

For students electing to participate in programs, other than European Studies or Rhodes Exchange, and if Rhodes is to be the degree-granting institution accepting credits from the program, Rhodes will assist the student in obtaining any Title IV funds and state funds for which the student may qualify. However, no Rhodes funds will be available. This policy also applies to off-campus study programs based in the United States (e.g., Washington Semester).

Students will not be eligible for either Rhodes need-based financial aid or for Rhodes competitive scholarship/fellowship aid for more than one study abroad program during their time at Rhodes.

The above policies apply to study abroad programs that occur during the fall and spring semesters of the academic year. Summer study abroad programs are excluded, as no Rhodes need-based aid or competitive scholarships/fellowships are available for summer study abroad.

Students using federal or state aid for study abroad programs must complete a Consortium Agreement as described in the literature from the Study Abroad Office on campus.

Transfer Students

A student transferring to Rhodes who is seeking financial assistance must submit the CSS PROFILE (https://profileonline.collegeboard.com) by March 1 and an accurately completed FAFSA (www.fafsa.ed.gov) by March 1 in order to determine financial need for the upcoming year.

A transfer student shall be eligible for all forms of financial aid (except Bellingrath Fellowships, Bonner Scholarships and Memphis Scholars) provided:

  1. the student’s previous college academic record is commensurate with the requirements for the award (a 3.50 minimum grade point average is required for a Hon Scholarship and a 3.75 minimum grade point average is required for any scholarships or fellowships of greater value) and;
  2. had the student entered Rhodes during the first year in college, such an award would have been awarded.

NOTE: The number of semesters for which a transfer student may receive Rhodes-funded aid is based on the classification of the student upon enrollment. For example, if a transfer student enrolls at Rhodes as a sophomore, that student may receive Rhodes-funded aid for a total of six semesters. A student enrolling as a junior may receive Rhodes-funded aid for a total of four semesters, and so forth.

Alternative Financing

For families who prefer to pay college costs in interest-free monthly installments, Rhodes suggests Tuition Management Systems, 171 Service Avenue, Warick, RI 02886 or by phone at (800)722-4867 or online at www.afford.com/rhodes. Arrangements must be made with this agency prior to the due date of the first tuition payment. The Bursar’s Office is the primary on-campus contact for this program.
Through the Federal Parent Loan for Undergraduate Students (PLUS) program, the parent of an undergraduate student may be eligible to borrow the cost of education at Rhodes less any financial assistance the student receives each year for educational expenses. The interest rate is fixed at 6.41%. PLUS applicants are subject to credit approval.

There are a number of alternative (private) loan programs available for interested students and their families. Please refer to the financial aid website at www.rhodes.edu/finaid for more information.

Additional Policies

  • The main method of communication from the Financial Aid Office is to the student, via the student’s Rhodes-assigned email address. Students must communicate with parents concerning financial aid award information, requirements, etc.
  • Most information about the student’s financial aid award(s), requirements for completing the financial aid process, costs of attendance, etc. may be found on the BannerWeb (http://banweb.rhodes.edu), utilizing the student’s Rhodes ID and PIN. The Financial Aid Office does not mail paper award letters or “missing documents” letters home to Rhodes students.
  • The total amount of Rhodes-funded gift aid (scholarships, fellowships and/or grants) a student is eligible to receive may not exceed Rhodes’ direct cost of attendance (tuition, fees, room, and board). If the total amount of Rhodes-funded gift aid exceeds the direct cost of attendance, a portion of the Rhodes gift aid will be reduced accordingly.
  • A student may not receive gift aid (scholarships, fellowships and/or grants) from all sources (Rhodes, federal, state, private) in excess of the total cost of attendance at Rhodes (tuition, fees, room, board as well as an estimated allowance for books, transportation, and personal/living expenses). If the total amount of gift aid from all sources exceeds Rhodes’ total cost of attendance, Rhodes gift aid (scholarships, fellowships, and/or grants) will be reduced accordingly.
  • All outside financial assistance or scholarships received by a student attending Rhodes must be reported to the Financial Aid Office, including the annual amount of the award and whether or not the award is renewable past the first year. Rhodes reserves the right to make adjustments in the financial aid package offered to students who receive assistance from other sources.
  • When calculating Rhodes scholarships or grants based on tuition, fees, room and board, the amount used for room is the average amount charged by the College for a student at the multiple occupancy rate for that dorm; the amount used for board is the current on-campus 21 meal plan rate.
  • Rhodes scholarships, fellowships and grants are based on a normal course load (12 - 18 credits under the Foundations Curriculum). Additional costs incurred by a student taking an overload will be incurred at that student’s expense.
  • Rhodes scholarships, fellowships and grants are provided only to students enrolled full-time (at least 12 credits) as of the last day of the extended drop period. Seniors who need less than twelve (12) credits to graduate in their final semester are NOT exempt from this policy.
  • Institutional funds will be awarded for each classification year (i.e. first-year, sophomore, etc.) only once. A maximum of two semesters of assistance will be awarded for any classification. Exceptions to this may be made by formal approval of the Disability Support Committee for students with disabilities (see “Students with Disabilities” section above).
  • Students who graduate early because of overloads, summer course work, etc., forfeit aid for the semester(s) not enrolled. In other words, if a student graduates a semester early, that student cannot have all of the year’s aid in the last semester of enrollment.
  • In most cases, financial aid is not available for summer terms.
  • Recipients of the Tennessee Education Lottery Scholarship(s) who begin enrollment in any term as a full-time student must maintain full-time status throughout the semester to continue receiving this award. Exceptions to this rule must be approved by the Standards and Standing Committee prior to the student’s dropping below full-time status. Only medical and family emergency issues are considered for exceptions. More information may be found at: www.collegepaystn.com. Recipients of the Tennessee Education Lottery Scholarship(s) must complete the FAFSA every year by the state-established deadline as printed on the FAFSA.
  • Students who accept/decline financial aid awards via BannerWeb are electronically signing their award and agree to the terms of the financial aid package as listed in the Rhodes College Catalogue, in other Rhodes publications, and on the Rhodes website.
  • The following are the definitions for enrollment status for financial aid, including Rhodes scholarships, fellowships and grants:
    • Full Time: 12 credits or greater
    • 3/4 Time: 9 - 11.99 credits
    • 1/2 Time: 6 - 8.99 credits
    • Less than 1/2 time: less than 6 credits
  • The following are earned credit requirements which establish Federal Direct Loan amount eligibility:
    • Less than 30 earned credits: Freshman-level Federal Direct Loan ($5,500)
    • 30 to 62 earned credits: Sophomore-level Federal Direct Loan ($6,500)
    • 63 or more earned credits: Junior and Senior-level Federal
    • Direct Loan ($7,500)




PLEASE NOTE: This document reflects information as it was published in the 2014-15 Rhodes Catalogue. You may find more current information elsewhere on rhodes.edu.