MEMPHIS, Tenn. — The Tennessee Higher Education Commission (THEC) and Tennessee Student Assistance Corporation (TSAC) have launched the inaugural TN FAFSA Challenge in an effort to get more students to complete the Free Application for Federal Student Aid.
FAFSA opens the door for students to get scholarships, grants, and other kids of financial aid for college.
The goal of the new initiative is to encourage high school students to complete the FAFSA by the Tennessee Promise deadline of February 1, 2022.
“Completing a FAFSA opens the door for thousands of dollars in state and federal financial aid for Tennessee’s students," said Dr. Emily House, executive director of THEC and TSAC. "Our goal is that every eligible Tennessee high school senior has the opportunity to complete a FAFSA, especially before the Tennessee Promise deadline of February 1."
High schools taking part in the TN FAFSA Challenge could be recognized in three categories: highest completion rate, most improved completion rate compared to the previous year, and FAFSA Champion.
There are two ways a high school can earn FAFSA Champion status:
Increase their Tennessee Promise applicant FAFSA completion rate by 5 percentage points or more compared to the previous academic year as of the Tennessee Promise FAFSA deadline.
Have 95 percent or more of their Tennessee Promise applicants complete the FAFSA as of the Tennessee Promise FAFSA deadline.
Many schools will have higher FAFSA completion rates by graduation. However additional state funding, institutional dollars, and private scholarships may be available if the FAFSA is completed earlier in the senior year.