New law increases HOPE scholarship amounts awarded to TTU studentsStudents attending Tennessee Tech University who are eligible for the basic HOPE Scholarship for 2006-2007 will receive an increase from $3,300 to $3,800 as a result of a new law that took effect in July.
Each eligible full-time student will now receive $1,900 per semester. There is no proposed increase to the Aspire (need-based) Supplemental Award (still $1,500 per year) or the MERIT Award (still $1,000 per year).
"We are excited about this increase" said Lester McKenzie, TTU's director of Financial Aid. "The $1,900 per semester for the basic HOPE scholarship alone will cover an estimated 83 percent of our current fee estimate for the 2006-2007 year here at TTU."
McKenzie explained that Gov. Phil Bredesen signed the bill on July 5, and school administrators will be working to increase lottery scholarship amounts that are in the financial aid system. "This means that other types of aid you have already been offered may need to be adjusted," he said. "If you have already received an award letter, and there is something other than the lottery increase that is adjusted, we will send you an additional award letter."If no other type of aid has to be changed we will not mail out another award letter. Additionally, if the only aid you have requested is the HOPE scholarship you will not receive an award letter. Please remember, you can always log into EagleOnline and check the status of your student account."
King explained that the state sends lottery money to the first school listed on a student's FAFSA. "It is possible that your lottery money is at another school if you listed another school as your first choice when you filled out your FAFSA," King said. "If that is the case, you need to fill out the Lottery Changing Schools Form on the financial aid web site." That address is www.tntech.edu/financialaid/finaid_forms.html.