Financial Aid

Financial Aid Data Sharing Policy 

Due to the nature of our work, the Financial Aid Office is entrusted with highly sensitive information about each student and his/her family. Our staff is obligated to safeguard this information in compliance with three applicable laws that govern access to, disclosure of and use of student financial aid information.

The three applicable laws include:

• » The Family Education Rights and Privacy Act (FERPA)

  The intent of FERPA is to protect the privacy of students, in part by prohibiting post-secondary institutions from disclosing personally identifiable information (PII) contained in education records to any third party – including the student’s parents – without permission. FERPA applies to all post-secondary institutions that receive federal funds.

• » The Higher Education Act of 1965, as amended (HEA)

  The HEA specifically restricts the use of FAFSA data and states that data collected on the FAFSA form shall be used only for the application, award, and administration of aid awarded under federal student aid programs, state aid or aid awarded by the institution.

• » The Privacy Act of 1974, as amended (Privacy Act)

  The Privacy Act governs the collection, maintenance and use of records maintained by federal agencies and generally prohibits agencies from disclosing data contained in those records. The Privacy Act can impose restrictions on institutions as well if a federal agency lawfully provides records or access to records to an institution.

• » Section 6103(L)(13) of the Internal Revenue Code

  The IRC specifically restricts the use of Federal Tax Income (FTI) data for the purpose of determining a student's eligibility for Title IV federal student aid. 

What does this mean for students at Tennessee Tech University?

The HEA is the most restrictive of these laws. It applies specifically to FAFSA data and financial aid information and only allows students to authorize the release of their financial aid information to another entity. Because of HEA, the financial aid office will not disclose information collected from your FAFSA or your financial aid award or eligibility without explicit written consent to any third party person (including parents or spouses) or entity requesting this data on your behalf without written consent.

Students coming to the financial aid office in person will be asked to present their Eagle ID Card to discuss matters of their financial aid. If you are applying for scholarships or grants where the application requests information about your financial aid, you must complete our consent form.

Students who need financial aid information for third parties may also provide requested data directly to third parties using the following methods:

•  Student Aid Index (SAI) can be found on the FAFSA Submission Summary (FSS), which is available by logging in to the student’s FAFSA at https://studentaid.ed.gov/sa/fafsa.
• Financial Aid awards can be printed from Eagle Online.
• Cost of attendance values can be found here: https://www.tntech.edu/financialaid/cost
• Federal loan borrowing history and status can be printed by signing into https://studentaid.gov/ and navigating to the Student Dashboard.
   

Federal Tax Income (FTI) Data

Effective January 1, 2024

Starting with the 2024-25 award year, FAFSA contributors (student and spouse or parent/stepparent, as applicable) must give the U.S. Department of Education (ED) consent to retrieve federal tax information (FTI) from the Internal Revenue Service (IRS) for purposes of determining a student's eligibility for Title IV federal student aid. If the student, spouse, or parent fails to provide consent, the student is not eligible for Title IV aid--no exceptions. The retrieval of FTI replaces the IRS Data Retrieval Tool (IRS DRT), and FTI will be stored separately in the Federal Tax Information Module (FTIM).

Tennessee Tech University will only use FTI data for the application, award, and administration of federal, state, or institutional aid. Only with written consent, the Office of Financial Aid may share FTI data with scholarship granting organizations or an organization assisting the student in securing federal, state, local, or tribal assistance for any component of their Cost of Attendance (COA) for that purpose only.

Tennessee Tech University will NOT use FTI data for research even with student’s consent.

The term “Written Consent” means a separate, written document that is sign and dated (this may include electronic format) by an applicant which:

1. Indicates that the information being disclosed includes tax information disclosed under section 6103(1)(13) of Title 26 with the respect of the applicant;
2. States the purpose for which the information is being disclosed and;
3. States the information may only be used for the specific and no other purposes.
   
   

 

Family Nurse Practitioner Gainful Employment Disclosure

Effective July 12, 2019

Upon the federal government’s approval of the Rescission of the Gainful Employment Rule, Tennessee Tech University chose the option to Early Implement this new ruling. 

This link will no longer be updated to disseminate the Gainful Employment Information and Reporting regulations required prior to July 1, 2019.

Code of Conduct

The Higher Education Opportunity Act (HEOA) requires institutions of higher education participating in the administration of educational loan programs to develop and publish a Code of Conduct. Any Tennessee Technological University (TTU) officer, employee, or agent who has responsibilities with respect to student educational loans is required to comply with this Code of Conduct as outlined below.

1. Tennessee Tech shall not enter into any revenue-sharing arrangement with any lender. The HEOA defines the term "revenue sharing" as an arrangement between an institution and a lender under which the lender issues a Title IV loan to students (or their families) attending the institution and the institution recommends the lender (or its loan products) in exchange for the lender paying a fee or providing other material benefits (including revenue sharing or profit sharing) to the institution or its employees or agents.
2. No officer or employee of Tennessee Tech who is employed in the Financial Aid Office of the University or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, shall solicit or accept any gift (any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount) from a lender, guarantor, or servicer of education loans.
3. An officer or employee who is employed in the Financial Aid Office of the University or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.
4. Tennessee Tech shall not for any first-time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender; or refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
5. Tennessee Tech shall not request or accept from any lender any offer of funds to be used for private education loans (as defined in section 140 of the Truth in Lending Act), including funds for an opportunity pool loan, to students in exchange for the University providing concessions or promises regarding providing the lender with:
   • a specified number of loans made, insured, or guaranteed under this title;
   • a specified loan volume of such loans; or
   • a preferred lender arrangement for such loans.
6. Tennessee Tech shall not request or accept from any lender any assistance with call center staffing or Financial Aid Office staffing. Assistance will be permitted for the following instances:
   • professional development training for financial aid administrators;
   • providing educational counseling materials, financial literacy materials, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials; or
   • staffing services on a short-term, nonrecurring basis to assist the University with financial aid-related functions during emergencies, including State-declared or federally declared natural disasters, federally declared national disasters, and other localized disasters and emergencies identified by the Secretary of Education.
7. Any employee who is employed in the Financial Aid Office, or who otherwise has responsibilities with respect to education loans or other student financial aid of Tennessee Tech, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.

In addition to the items above:
As a member of the National Association of Student Financial Aid Administrators (NASFAA),Tennessee Tech also follows the standards established in NASFAA’s Statement of Ethical Principles and Code of Conduct for Financial Aid Professionals.All Financial Aid staff follow Tennessee Tech Policy No. 134 - Conflict of Interest: Student Financial Aid.

Rights and Responsibilities of Students Receiving Financial Aid 

668.42(c) The institution must describe the rights and responsibilities of students receiving financial assistance and, specifically, assistance under the title IV, HEA programs.

As a recipient of financial aid, students have certain rights and responsibilities. These rights and responsibilities of students on financial aid are listed in the following documents:

• The Tennessee Tech University Catalog
• Printed information from the Tennessee Tech University Financial Aid Office
• Students have the right to know the:
  1. Financial aid programs available at Tennessee Tech University
  2. Application process for financial aid
  3. Criteria used to select recipients and calculate need
  4. Tennessee Tech University refund and repayment policy
  5. Financial Aid Office policies surrounding satisfactory academic progress
  6. Special facilities and services available for the handicapped 

Students are responsible for:

1. Completing all forms accurately and by the published deadlines
2. Submitting information requested by Financial Aid Office staff in a  timely manner
3. Keeping the Financial Aid Office informed of any changes in address, name, marital status, financial situation, or any change in student status
4. Reporting to the Financial Aid Office any additional assistance from on-institutional sources such as scholarships, loans, educational benefits, and V.A. benefits (Records/Registration)
5. Notifying the Financial Aid Office of a change in enrollment status
6. Maintaining satisfactory academic progress 
7. Reapplying for aid each year.