Healthcare Provider Update: Offers medical, dental, vision, and mental health benefits through Spring Health, plus HSA contributions and telemedicine via Teladoc 8. With ACA premiums projected to rise by up to 75% for some, TEGNAs flexible coverage and wellness support provide a strong buffer against marketplace volatility. Click here to learn more
Most TEGNA employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.
Granted value
Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.
Know your grants
The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all TEGNA employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:
- Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
- Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
- Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
- Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.
FAFSA Required
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No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a TEGNA employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is TEGNA's 401(k) plan?
TEGNA's 401(k) plan is a retirement savings plan that allows employees to save for their future by contributing a portion of their salary on a pre-tax or after-tax (Roth) basis.
How can I enroll in TEGNA's 401(k) plan?
You can enroll in TEGNA's 401(k) plan by logging into the employee benefits portal and following the enrollment instructions provided.
What is the employer match for TEGNA's 401(k) plan?
TEGNA offers a competitive employer match for contributions made to the 401(k) plan, which helps employees boost their retirement savings.
When can I start contributing to TEGNA's 401(k) plan?
Employees at TEGNA can start contributing to the 401(k) plan after completing their eligibility requirements, typically within the first few months of employment.
What types of investment options are available in TEGNA's 401(k) plan?
TEGNA's 401(k) plan includes a variety of investment options, such as mutual funds, target-date funds, and company stock, allowing employees to diversify their portfolios.
Can I change my contribution amount to TEGNA's 401(k) plan?
Yes, employees can change their contribution amounts to TEGNA's 401(k) plan at any time through the employee benefits portal.
Does TEGNA offer a Roth 401(k) option?
Yes, TEGNA offers a Roth 401(k) option, allowing employees to make after-tax contributions and potentially enjoy tax-free withdrawals in retirement.
What happens to my TEGNA 401(k) if I leave the company?
If you leave TEGNA, you have several options for your 401(k), including cashing out, rolling it over to another retirement account, or leaving it with TEGNA.
Is there a vesting schedule for TEGNA's 401(k) employer match?
Yes, TEGNA has a vesting schedule for the employer match, meaning that employees must work for the company for a certain period before they fully own the matched funds.
How can I access my TEGNA 401(k) account?
You can access your TEGNA 401(k) account by logging into the designated retirement plan website or mobile app provided by the plan administrator.
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