Financial Aid Guide
2011-2012
Welcome Students
Dear Students,
IMPORTANT INFORMATION
GC Financial Aid Office
(800) 342-0471
(478) 445-5149
www.gcsu.edu/financialaid
Admissions Office
(800) 342-0471
(478) 445-2774
Graduate Admissions
(800) 342-0471
(478) 445-6289
Registrar’s Office
(800) 342-0471
(478) 445-6286
Business Office
(800) 342-0471
(478) 445-5254
University Housing
(478) 445-5160
Federal Processor
(FAFSA Status; Duplicate
Student Aid Reports)
(800) 433-3243
(319) 337-5665
HOPE Information
(800) 546-HOPE
www.GAcollege411.org
FAFSA On The Web
www.fafsa.ed.gov
PAWS
http://paws.gcsu.edu
We are pleased that you are interested in studying at Georgia
College, Georgia’s Public Liberal Arts University. We are aware of
your concerns for financing your education and want to assist you in
making the appropriate decisions. The goal of our staff is to meet
individual needs in a timely, efficient, and equitable manner by
providing you with exceptional service and up-to-date
information.
For new and returning students, the majority of communication
regarding financial aid will be through e-mail using your University
assigned school e-mail account. For new students who have not yet
been assigned an e-mail account, we will use the e-mail address
reported on your admission or financial aid application. We are
pleased to be able to offer you immediate access to financial awards
over the web at http://paws.gcsu.edu/. Once your award eligibility
has been determined, you will be sent an e-mail with instructions on
how you can view them on our website.
By completing the federal application process, you will be considered
for federal and state aid including the HOPE Scholarship. The Free
Application for Federal Student Aid (FAFSA) should be completed
online at www.fafsa.ed.gov. Students and parents may obtain a PIN
from the U.S. Department of Education at www.pin.ed.gov, which can
be used as an electronic signature. Students whose files are
complete by the March 1, 2011 priority date will receive full consideration for federal and state aid programs with limited funding.
Students who wish to apply only for the HOPE Scholarship may do
so by visiting www.GAcollege411.org.
The most important factor in applying for financial aid is to apply
early. Once we have received your application, we will notify you if
additional information is needed. Keep in mind that students must be
accepted for admission to the University before aid offers are made.
The Financial Aid Office at GC has a staff of well-trained
counselors available to assist you, Monday - Friday from 8:00 a.m. 5:00 p.m.
Best wishes in your academic pursuit, and we look forward to serving
you.
Sincerely,
Cathy Crawley
Director of Financial Aid
APPLYING FOR THE
HOPE SCHOLARSHIP
Application Process
STEPS FOR APPLYING FOR AID
Students who wish to apply
only for the HOPE Scholarship may do so by visiting
1. Apply and be accepted for admission to Georgia College.
www.GAcollege411.org.
Once a ―profile‖ has been
2. Apply for financial aid by completing the Free Application for Federal
completed at this website,
Student Aid (FAFSA) online at www.fafsa.ed.gov. (Students who have
students should complete the
previously applied for aid and have supplied the Department of Education
GSFAPPS from the
with an email address, will be sent notifications electronically via e-mail.)
―Applications‖ menu.
Financial awards for
3. When completing the FAFSA, be sure to list Georgia College in the
returning students will be
school section of the application using our Federal School Code of
made after Spring
001602. This will allow us to receive an electronic copy of the application.
Semester 2011 grades are
(Students should also be certain that all necessary signatures are inreported.
cluded.)
STATUS OF FINANCIAL 4. In no more than four weeks, the student will receive an e-mail notification
with a direct link to the student’s online Student Aid Report (SAR). If an
AID APPLICATIONS
e-mail address was not provided on the application, the information will
be mailed to the student. An electronic copy will also be sent to GC if so
Students are encouraged to
indicated. Please carefully read the comment section on the SAR to decheck with the Financial Aid
termine if any further action is required to complete the application procOffice regarding the status of
ess. If any information is incorrect, follow the instructions provided on the
their application. This may be
SAR.
done by visiting or calling the
office or checking the
5. Please verify with the GC Financial Aid Office that an electronic copy of
GC PAWS at
the Student Aid Report (SAR) has been received.
http://paws.gcsu.edu.
6. Verification is the process by which the U.S. Department of Education
Students may check the
requires schools to check a certain percentage of their financial aid
status of their FAFSA by
applications for accuracy. If the application is selected, the student will be
returning to the FAFSA web
asked to submit additional information to the Financial Aid Office. At a
site www.fafsa.ed.gov and
minimum, this will include a completed verification worksheet, student’s
selecting option #3 FAFSA
federal tax return, and if applicable, the parent(s)’ or spouse’s tax returns.
Follow-Up. If additional help is
needed, you may call the
7. Parents of dependent students may apply for a Direct PLUS Loan online
Department of Education at
at www.studentloans.gov. Parents will start the Federal Direct PLUS ap1-800-4FEDAID (1-800-433plication process and sign the master promissory note online using the
3243) or obtain information
parent’s FAFSA pin.
online at
www.federalstudentaid.ed.
8. Students will be notified via their school email of their eligibility for finangov.
cial aid through either an electronic Award Letter or explanation of ineligibility. This notification is typically sent within a few weeks. However, it
will take longer during peak processing times.
9. Be sure to report to the Financial Aid Office, in writing, any pending
outside scholarships.
HOW FINANCIAL
NEED IS DETERMINED
Financial need is the difference between the
estimated Cost of Attendance at GC and the
Expected Family Contribution.
The Cost of Attendance,
which is determined by GC,
is an estimate of tuition,
fees, room, board, books,
supplies, personal, and
miscellaneous expenses.
This estimate is used in
financial aid calculations
and is prepared in advance
of actual fees being established. The financial aid
Cost of Attendance includes
costs paid directly to GC as
well as indirect costs that
the student may incur associated with attending
school.
Determining Eligibility
BASIC ELIGIBILITY REQUIREMENTS
1. Be a U.S. citizen or eligible permanent resident.
2. Be in compliance with the Academic Requirements for Receiving Aid.
3. Be fully accepted for admission at GC in a degree-seeking program.
Exception: (Applicable to Stafford or PLUS.) A non-degree seeker may be
eligible for a loan under one or more of these programs if (s)he is enrolled
or accepted for enrollment as at least a half-time (6 credit hours) in a program that is necessary for either a professional credential from a state, if
that credential or certification is required for employment in the state as an
elementary or secondary school teacher or to qualify him/her for enrollment
in a degree or certificate program. The latter is restricted to length of program, verified by Chairman of the Department. For federal aid purposes,
these students are considered fifth-year undergraduates.
4. Non-degree, transient, conditional, and/or unclassified students are not
eligible for Federal Pell Grant, Federal Perkins Loan, Federal Supplemental
Educational Opportunity Grant, Federal Work-Study, Federal Direct
Stafford Loan, or Federal Direct PLUS.
5. Transient students may receive HOPE Scholarship funds, if eligible. Eligibility is determined by the students ―home‖ institution. Payment is made by
the ―visiting‖ institution in accordance with HOPE regulations.
6. Not be in default on any loan or have borrowed in excess of loan limits at
any institution.
7. Not owe a refund on any grant at any institution.
8. Certify registration with Selective Service, if required.
Expected Family Contribution is derived from a
formula that is applied to
your family’s income as
reported on the FAFSA. By
subtracting the Expected
Family Contribution from
the Cost of Attendance,
financial need is determined. The Federal Pell
Grant, Federal Supplemental Educational Opportunity
Grant (FSEOG), Federal
Work-Study, Federal Perkins Loan, and Federal
Direct Subsidized Loans
are awarded on the basis of
financial need.
9. Demonstrate financial need for need-based programs.
______________________________________________________________
Effective July 1, 2000, students are ineligible for Title IV federal financial aid
funds if convicted of an offense involving the possession of an illegal
substance that occurred during a period of enrollment for which the
students were receiving federal student aid (grants, loans and/or workstudy). The ineligibility period is:
• First Offense = 1 year
• Second Offense = 2 years
• Third Offense = Indefinite
For convictions involving sale of an illegal substance, the ineligibility period is:
• First Offense = 2 years
• Second Offense = Indefinite
A student may regain eligibility by successfully completing a drug rehabilitation
program that complies with criteria established by the U.S. Department of
Education. Contact the Financial Aid Office for further details. Report any
convictions involving an illegal substance on question #23 of the Free
Application for Federal Student Aid (FAFSA).
Financial Aid Procedures
Important Dates
Priority Packaging Deadline
Fall Semester Deadline
Spring Semester Deadline
Summer Semester Deadline
March 1, 2011
July 1, 2011
November 1, 2011
April 1, 2012
Students must submit complete financial aid applications by the above ―Priority Package Deadline‖ to be
considered for programs that have a limited supply of funds.
Students must submit complete financial aid applications by these dates in order to use financial aid funds
to pay for the semester’s bill. Students whose files are not complete by this date should be prepared to pay
costs until applications are processed and eligibility is determined.
The Federal Processing Center must receive the application(s) before June 30, 2012, and all verification
processes must be completed before August 1, 2012, for the student to receive consideration for the
academic year 2011-2012 or Summer 2012. Electronic Student Aid Reports must be submitted to GC
before the student’s enrollment period ends in order to be considered for aid.
OUTSIDE SCHOLARSHIPS
financial aid may use that aid to participate in study
Any resources that a student receives or expects to abroad and exchange programs approved by the
receive should be reported in writing to the Financial IEC. For specifics on transferability, contact the
Financial Aid Office, 103 Parks Hall, (478) 445-5149
Aid Office. The receipt of outside scholarships or
other resources may result in reduction, cancellation, for guidelines. In addition, a number of study abroad
scholarships are available through the International
and/or repayment of need-based aid.
Education Center in Lanier Hall or call (478) 4454789.
SUMMER SESSION FINANCIAL AID
Students who wish to receive financial aid for the
Summer Session 2012 must complete a Summer Aid TRANSIENT STUDY
Application as well as the FAFSA. Students who are Georgia College students who are planning on taking
receiving HOPE only must also complete a Summer transient coursework with another institution may
qualify for financial aid. In order for students to reAid Application. Summer Aid Applications are available in March 2012 via the PAWS website, coinciding ceive federal funds or other aid for transient coursework, a Consortium Agreement must be obtained
with course registration.
from the GC Financial Aid Office and completed by
the host institution. Please note that many institutions
STUDY ABROAD
will not participate in the consortium process thereThe International Education Center (IEC) provides
fore causing student aid ineligibility. Students are reinformation on the various approved study abroad
quired to pay all costs at the host institution and reand exchange programs offered by Georgia College,
ceive aid as reimbursement. HOPE eligible students
the University System of Georgia, and other accredmay receive HOPE if attending an eligible institution.
ited academic institutions. Studying abroad enables
HOPE funds are paid by the host institution. Some
students to increase knowledge of a foreign laninstitutions may choose not to process financial aid
guage; provides the opportunity to gain insight into
for transient students. Please check with the financial
and appreciation for the cultures and institutions of
aid office of the school you wish to attend. For specifother people; facilitates the development of relevant
ics on qualifying, contact the Financial Aid Office,
career skills; and contributes to personal maturity, a
103 Parks Hall, (478) 445-5149.
sense of independence, self-knowledge, and confidence. Georgia College students who are eligible for
Revised
Policy
Satisfactory Academic
Progress (SAP) Policy
COMPONENTS
The Georgia College definition of Satisfactory Academic Progress
(SAP) for receiving financial aid includes the following components:
Academic Requirements for
Receiving Financial Aid
The Higher Education Act of 1965, as
amended by Program Integrity regulations passed on October 29,
2010, mandates institutions of higher
education to establish a standard of
satisfactory academic progress for
students who receive financial aid.
This standard must apply to the student’s entire academic history,
whether Title IV financial aid was received or not. In order to remain eligible to receive aid at Georgia College,
students must meet the standards
specified for acceptable academic
performance and for satisfactory progress toward the completion of their
program of study. The standards are
established within the framework of
applicable federal regulations specifically for the purpose of determining
the eligibility of students to receive aid
under the generally funded Title IV
programs, including Federal Pell
Grant, Federal Perkins Loan, Federal
Supplemental Education Opportunity
Grant, Federal Work-Study, Georgia’s
HOPE Scholarship, and Federal
Direct Loan Programs (Stafford,
PLUS, and Grad PLUS). These standards should not be confused with
Good Standing, Warning, Probation,
Dismissal, or Exclusion as defined by
Georgia College’s academic policies.
Qualitative (GPA) Standards
Georgia College uses the 4.0 grade point average and numerical
code:
4.0 = A
1.0 = D
3.0 = B
0.0 = F
2.0 = C
0.0 = WF
Students are required to maintain the following overall
cumulative grade point average (GPA) as indicated below:
Undergraduate Students
Have 0-29 earned hours AND have not reached the
end of second academic year (measured in time not
grade level)
Have 30 or more earned hours OR have passed the
end of second academic year (measured in time not
grade level)
Graduate Students
Every term
1.75
2.00
3.00
For purposes of this policy “earned” hours are defined according to GC academic
policies. Only the last repetition of institutional repeated courses are included in
hours earned and GPA. Only the last repetition of transfer repeated courses are
included in transfer hours earned and transfer GPA for new Transfer students who
matriculated in Spring 2010 or later. All repetitions of transfer repeated courses
are included in transfer GPA, but are counted only once in transfer hours earned,
for Transfer students who matriculated prior to Spring 2010 (Fall 2009 and prior).
Courses initially completed at another institution and then repeated at Georgia
College continue to be counted in the transfer GPA and the Georgia College GPA,
but hours earned are counted only once.
Quantitative (Incremental Progress) Standards
Students are expected to successfully complete 67% of all attempted coursework. This cumulative calculation includes all
Georgia College and any transfer coursework attempted. Attempted hours and successful completed hours are based on all
courses included on the students’ official academic history. Further, all attempts of repeated coursework and non-credit coursework are included. The formula of this calculation is:
Cumulative hours Successfully Completed
= % Completed
Cumulative hours Attempted
The following will be considered as hours successfully completed:
Grades A, B, C or D
―S‖ (Satisfactory)
―K‖ (Credit by Examination)
Likewise, the following will be considered as hours not
successfully completed:
―F‖
―WF‖ (Withdrew Failing)
―W‖ (Withdrew)
―U‖ (Unsatisfactory)
―I‖ (Incomplete)
―IP‖ (In Progress)
Maximum Time Frame Standards
Students will have a maximum of 150% of the average program to complete their degree requirements while continuing to qualify for federal and state aid. The maximum time
frame allowed will consist of all attempted hours inclusive of
hours described in the Quantitative Standards section of
this policy. Students who have Learning Support courses
will have these hours excluded for the maximum time frame
standard calculation. The allowable time frames at Georgia
College are as follows:
Undergraduate Students
Graduate Students
180 Attempted
Hours
55 Attempted
Hours
Allowances for 2nd Bachelor degree and Specialist degree will be
made for eligible aid recipients.
REVIEW PROCESS
At the end of each academic term (Fall, Spring and Summer semesters), the Financial Aid Office staff will determine
whether students are meeting the minimum standards for
each of the components (qualitative, quantitative and time
frame). Students not meeting the Time Frame standard will
immediately, without a Warning Semester, become ineligible for all federal and state aid programs. The Financial Aid Office has the authority to cancel aid and request
immediate repayment of federal and state aid programs at
any time that a student is deemed ineligible. This may occur when access to the student’s academic history is not
fully available due to the short amount of time between semesters as well as receipt of final transcripts from transfer
institutions.
Program at Georgia College. Further, the Warning
semester allowance is not applicable to the Time
Frame standard.
Denial/Loss of Eligibility
Students that are not meeting the minimum Qualitative and/or Quantitative standards at the end of a term
review and have received aid during a Warning semester will lose their eligibility for the upcoming and
future terms. Students that are not meeting the maximum Time Frame standard at the end of a term review will immediately, without a Warning semester,
become ineligible for aid.
Students will have a letter mailed to their current address on file with the Registrar’s Office. Students may
receive consideration for aid reinstatement at the time
they have satisfied all deficiencies with the Qualitative
and/or Quantitative standards.
Appeal (Probation Period)
Students that experienced extenuating circumstances
that attributed to their inability to meet the minimum
standards have the option to submit a letter of appeal.
An extenuating circumstance must be due to situations beyond their control such as serious injury, illness or mental health condition involving the student
or their immediate family, or death of an immediate
family member. The letter should be submitted to the
Director of Financial Aid and must include a description of the situation with accompanying documentation
as well as a summary of what has changed that will
allow them to meet the minimum standards at the next
evaluation.
Appeals approved will require that the student be in
compliance with all standards by the next evaluation
(term). In some instances, an academic plan designed to ensure compliance with the standards at a
specific point in time may be utilized in needed situations. An approved appeal will allow students to receive aid for a Probationary period (usually one term).
Students that have an appeal denied by the Director
of Financial Aid may appeal the Financial Aid Internal
Review (FAIR) Committee. The same type appeal
documentation must be submitted c/o FAIR to the GC
Warning Semester
Financial Aid Office. The FAIR Committee’s decision
Students that are not meeting the Qualitative and/or Quanti- should be considered final.
tative standards at the end of a term are automatically
In instances where the student has additional informagiven one (1) Warning semester. During this Warning se- tion or documentation related to a denied appeal, they
mester, students are allowed to receive federal and state
may appeal the decision to the Assistant Vice Presiaid. Students must be fully in compliance with all compodent of Enrollment Management who has the final
nents by the end of the Warning semester to regain eligibil- authority.
ity and receive funds for future semesters. Only one (1)
Warning semester is allowed for a student’s entire degree
Types of Aid
Grants, Loans, Federal Work-Study and a limited number of scholarships are available through this office to help with educational expenses at Georgia College. Grants do not have to be repaid. Most loans must be repaid in cash. Federal Work-Study
awards are earned during period of enrollment. Students must be enrolled at least half-time to receive a Federal Direct Stafford Loan
or Federal Direct PLUS Loan. Federal Pell Grants are available for less than full-time students depending on need. HOPE Scholarships are available for one or more hours of enrollment. All student aid will be awarded based on anticipated full-time enrollment
unless otherwise noted on your Award Letter. The following programs are available at GC.
GRANTS/SCHOLARSHIPS
FEDERAL PELL GRANT PROGRAM is designated for undergraduate
students working toward a first undergraduate degree. The amount of
the grant is determined by the Cost of Attendance, the Expected Family Contribution provided by the U.S. Department of Education, and
your enrollment status. Students who are enrolled full-time (12 or
more credit hours) will receive full eligibility. Students enrolled less
than full-time will receive funds according to federal guidelines.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY
GRANT (FSEOG) is designed for undergraduate students who demonstrate exceptional financial need. There is a limited supply of these
funds, so they are awarded on a first-come, first-serve basis.
GEORGIA’S HERO (HELPING EDUCATE RESERVISTS AND THEIR
OFFSPRING) SCHOLARSHIP: This program provides assistance to
members of the Georgia National Guard and US Military Reservists
who served in combat zones or the children of such members.
Recipients may receive up to $2,000 per academic school year for
a maximum of $8,000 for the equivalent of four years of study.
Applications for the HERO program are available to download from the
Georgia Student Finance Commission at www.GAcollege411.org or
applicants may contact their office at (770)414-3085 or toll-free at
(800)505-4732.
INSTITUTIONAL SCHOLARSHIPS:
Entering Freshman scholarships are highly competitive and are
awarded to qualified students on an annual basis. Most scholarships
available to entering freshmen are offered to students who adhere to
the Admissions Early Action application process and are selected to
HOPE SCHOLARSHIP (Helping Outstanding Pupils Educationally) participate in the annual President’s Scholarship Competition. The
is funded by the Georgia Lottery for education and is available to eligi- competition for Fall 2011 Freshmen was held on December 3, 2010.
ble Georgia residents. HOPE covers the cost of tuition, some fees, and Most scholarships do not require an application as the admission
portfolio is utilized; however, several opportunities do exist for students
a book allowance. Students may not receive HOPE after attempting
that require a separate application which should be downloaded at
127 semester hours.
www.gcsu.edu/financialaid/scholarships.
Eligibility Requirements
Georgia resident as defined in state-mandated regulations.
Grade point eligibility for entering freshmen is based on a
final high school grade point average of 3.0 or better as reported by the high school and determined by the Georgia
Student Finance Commission (GSFC).
Regardless of high school graduation or high school grade
point average, students may be eligible for a HOPE Scholarship after attempting 30, 60, or 90 semester hours with a
3.0 cumulative grade point average.
Students must maintain a 3.0 cumulative grade point average while in college. The grade point average is reviewed at
the 30th, 60th, and 90th attempted semester hour, and also
at the end of each Spring Semester. This covers all prior
colleges attended as well as Georgia College.
Students, who lose the HOPE Scholarship due to grade
point average dropping below a 3.0, are eligible to be reevaluated at the 30th, 60th or 90th attempted semester hour,
provided their cumulative grade point average is a 3.0.
Full-time enrollment is not a requirement.
Generally, students should meet all the following criteria to be
competitive for these scholarships:
Be admitted to Georgia College
Score 1250 or better on the SAT or 29 on the ACT
Graduate from high school with a 3.5 Grade Point Average
based on a 4.0 scale
Possess strong academic record
Students must be enrolled full-time during both fall and spring
semesters in order to receive their scholarships.
Continuing students will be considered for scholarships administered
by GC by completing the GC Scholarship Application located on the
PAWS website.
Students should access their PAWS account at http://paws.gcsu.edu and
select ―GC Scholarship Application‖ from the Financial Aid menu.
The application will be available from mid-December 2010 until
February 4, 2011.
PRIVATE SCHOLARSHIPS: There are several other opportunities
to explore. Be aware that hometown churches, clubs, professional
organizations, and civic groups sometimes offer scholarships. Students
who are awarded a scholarship from a source other than GC should conStudents who have any questions may contact the Financial Aid Office tact the Scholarship Coordinator in the Financial Aid Office for further inat (478) 445-5149 or 1 (800) 342-0471 or contact the GSFC at 1-800- formation. In general, private scholarship awards greater than $1,000
are evenly divided between Fall and Spring semesters.
505-4732.
Loan Programs
The William D. Ford Federal Direct Loan Program (Direct Loan)
allows eligible students and parents to borrow directly from the U.S.
Department of Education. The Direct Loan programs include:
Subsidized and Unsubsidized Direct Student (Stafford) Loans
and Direct Parent PLUS Loans. These loans are repaid directly to
the U.S. Department of Education.
FEDERAL DIRECT STAFFORD LOAN PROGRAM
Federal Direct Stafford Loans are made in the student’s name and
can be either subsidized or unsubsidized.
Federal Direct Unsubsidized Stafford Loan interest rates are fixed at
6.8% effective July 1, 2006. The interest rates for undergraduate Subsidized Stafford loans for the 2011-2012 school year will be fixed at 3.4%.
Graduate Stafford loans, both unsubsidized and subsidized will remain
at a fixed 6.8% interest rate. There are also loan fees up to 1.0%
(Origination and Default fees) that may be deducted proportionately from
each delivery of loan proceeds. This money is passed on to the federal
government to help reduce the government’s cost of supporting these
low interest loans. Repayment must begin no later than six months following graduation or termination of at least half-time enrollment.
By completing the Free Application for Federal Student Aid
(FAFSA), students will be considered for the Federal Direct Stafford
Loan. Our office will determine students’ eligibility and award the
maximum amount students’ are eligible to receive. After applications
are processed, students will receive an email notification with instructions to view awards online. Having eligibility determined for a
Federal Direct Stafford Loan does not commit students to accepting
the loan or the amount (students may borrow less than full eligibility).
Students should pay close attention to any additional requirements
including Entrance Counseling and Promissory Notes, which are
available online at www.studentloans.gov.
Under federal law, students must complete a Loan Entrance
Counseling session before funds may be disbursed. It is important
that students know and understand their rights and responsibilities
as a student borrower. Students should contact our office if they
have any questions.
Further, students must complete a Master Promissory Note
(MPN). In most cases, students will sign only one promissory note
that will be used for all loans at Georgia College. By signing the
MPN, students are confirming their understanding that Georgia College may make new loans for the duration of their education (up to
10 years) without having to sign another MPN. Each academic year,
GC will disburse loan proceeds to students’ accounts as indicated
on the on-line Award Letter viewed from the GC Web Student Information System. Students are also agreeing to repay all loans made
under the terms of the MPN. Therefore, it is very important to completely read and understand all of the information on the MPN before
signing it.
Freshman:
$3,500
$2,000
$5,500
$4,500
$2,000
$6,500
$5,500
$2,000
$7,500
Aggregate Loan
Limits
$23,000
$8,500
$31,000
Freshman:
$3,500
$6,000
$9,500
$4,500
$6,000
$10,500
Junior & Senior
$5,500
$7,000
$12,500
Aggregate Loan
Limits
$23,000
$34,500
$57,500
Yearly:
$8,500
$12,000
$20,500
Aggregate Loan
Limits
Graduate
Students:
Combination
Total
Sophomore:
Independent
Students:
Additional
Stafford
Limit
Sophomore
An unsubsidized loan is not awarded on the basis of need. Students will be charged interest from the time the loan is disbursed
until it is paid in full. Any interest that accumulates will be capitalized—that is, the interest will be added to the principal amount of the
loan and additional interest will be based upon the higher amount.
This will increase the amount that will have to be repaid.
Undergraduate
Student:
Dependent
Student:
Maximum
Subsidized
Limit
Junior & Senior
A subsidized loan is awarded on the basis of financial need.
Students will not be charged any interest before they begin
repayment or during authorized periods of deferment. The federal
government ―subsidizes‖ the interest during these periods. This loan
must be repaid.
$65,500
$73,000
$138,500
Aggregate limits for graduate students are inclusive of all undergraduate loans
received.
Independent students and dependent students whose parents are
denied under the Federal Direct PLUS Loan may borrow additional
Unsubsidized Federal Direct Stafford Loan funds. Freshmen and sophomores may borrow an additional $4,000 per year; juniors and seniors
may borrow an additional $5,000 per year. Both may not exceed the
student’s COA.
The yearly maximum for the Federal Direct Stafford Loan will cover Fall,
Spring and Summer Semesters. If the maximum has been received over
Fall and Spring semesters, students will not be eligible to borrow additional funds for the Summer term.
Students must be enrolled at least half-time (6 or more hours for
undergraduate students and 5 or more hours for graduate students) in
order to have these funds disbursed to their student account. When the
loan is approved, the funds will be disbursed directly into the system to
go toward paying the balance of the account with the Business Office at
the beginning of each semester. Please see the section entitled
Disbursement of Financial Aid for specific details.
Students, currently receiving or who have received a loan through
Georgia College, who graduate, transfer, drop below half-time enrollment status, or otherwise leave school must arrange for an Exit Interview for the Federal Direct Stafford loan at the GC Financial Aid Office.
DIRECT PLUS (Parent Loan for Undergraduate Students)
PLUS Loans enable parents with good credit histories to borrow monies.
These funds are designated to help pay the educational expenses of
each child who is a dependent undergraduate student enrolled at least
half-time (6 semester hours). The yearly limit on a PLUS loan is equal to
the student’s Cost of Attendance (COA) minus any other financial aid the
student is receiving.
Effective July 1, 2010, Federal Direct PLUS loan interest rates are fixed
at 7.9%. Repayment usually begins within 60 days after the final loan
disbursement for the period of enrollment for which the funds are
borrowed. Application for the PLUS loan is accessed electronically at
www.studentloans.gov. Students must have completed the Free Application for Federal Student Aid (FAFSA) for eligibility to be determined.
Federal Direct PLUS Loans will be disbursed after a Master Promissory
Note has been electronically signed with the Direct Loan Servicing Center. The PLUS MPN has a multi-year feature. This multi-year feature
allows a parent of a dependent student to only have to sign one promissory note that can be used for up to 10 years.
Funds will first be used toward the student’s bill at the Business Office.
Any funds remaining can be used to purchase books at the GC
Box Office Bookstore approximately three days prior to the first day of
classes through the end of the drop/add period. Any remaining funds will
be disbursed in a check payable to the parent, or check / direct deposit
made payable to student as indicated on PLUS application, approximately seven days after the end of the drop/add period each semester.
STUDENT FINANCIAL AID OMBUDSMAN
If a problem or dispute regarding a student’s federal education loan(s)
arises that cannot be resolved through reasonable efforts, the student
may contact the Student Financial Assistance Ombudsman. The
Ombudsman’s office can propose solutions that may help all parties
come to a final agreement. The student should make sure good
records of conversations and people involved are documented prior
to calling this office. Students can reach the Ombudsman at:
Office of the Ombudsman
SFA US Department of Education
4th Floor, UCP-3/MS 5144 830 First Street, NE
Washington, DC 20202-5144
1-877-557-2575
www.ombudsman.ed.gov
STUDENT EMPLOYMENT
Each year Georgia College offers currently enrolled students the opportunity to earn funds through student employment to help meet
their educational and living expenses. These programs also allow
students to gain valuable work experience while working around their
class schedule. Information regarding two types of student employment offered at Georgia College is listed below. Students interested
in applying may access information regarding available positions at
www.gcsujobs.com. Select the STUDENT POSITIONS tab.
FEDERAL WORK-STUDY
Federal Work-Study (FWS) eligibility is based on established
Financial need and at least half-time enrollment of the
individual student. Due to limited funding received by Georgia
College for the FWS program each aid year, students completing
the financial aid application process by the ―Priority Package
Deadline‖ of March 1 will be given priority consideration for FWS
Eligibility for this loan program will be determined on a first-come,
first-serve basis upon completion of the Free Application for Federal Stu- awards. Students must complete the Free Application for Federal
Student Aid (FAFSA) and other required documentation before
dent Aid (FAFSA).
eligibility can be determined. All FWS recipients will be able to view
their award amount at http://paws.gcsu.edu. FWS recipients
The aggregate amount of funds eligible students may borrow is (1)
should choose and apply for position listings with FWS included
$4,000 for students who have not completed two academic years of
study toward a bachelor’s degree and (2) $8,000 for students who have in the title. A Student Employment Verification/Agreement Form
completed two academic years of study for a bachelor’s degree but have (SEVAF), which may be obtained from the Georgia College
Financial Aid Office, must be completed by the FWS student
not received a degree.
and the Department Supervisor. Once completed, the SEVAF
should be returned to the Financial Aid Office before continuing
Repayment begins nine months after the student graduates or leaves
the hiring process. FWS money is not available at registration to pay
school. The student may be allowed up to ten years to repay the loan.
During the repayment period, the student will be charged 5 percent sim- fees; students are paid bi-weekly for actual hours worked.
Community service positions are also available through the FWS
ple interest on the unpaid balance of the loan principle. The minimum
program.
monthly payment is $40.
FEDERAL PERKINS
The Federal Perkins Loan is a low-interest loan for students with exceptional financial need. Georgia College is the lender. The loan is made
with government funds with a share contributed by GC, so your payments are through the university.
Recipients must sign a promissory note in the Student Loan Collections
Office prior to receiving funds.
Students, currently receiving or who have received a Federal Perkins
Loan through Georgia College, who graduate, transfer, drop below halftime enrollment status, or otherwise leave school must arrange for an
Exit Interview at the Student Loan Collections Office.
LOAN CANCELLATION
Borrowers who use loan funds to finalize Business Office bills may elect
to cancel their loans and use another form of payment within 30 days of
disbursement. The Financial Aid Office must be notified in writing of the
cancellation within 30 days of disbursement to the student’s account.
GEORGIA COLLEGE STUDENT EMPLOYMENT
The University Student Employment program provides additional opportunities for students to secure campus employment. While
financial need is not a factor, earnings under this program could
affect other aid received. However, students are not required to
complete the FAFSA and should select position listings that do not
include FWS in the title. Students are interviewed and hired by the
various administrative, departmental and other offices at the
University.
Once a position, through FWS or University Student Employment,
has been offered to and accepted by the student, an employment
packet must be completed by the student through the Office of
Human Resources. Students will be notified via email from Human
Resources once the process is complete and they are cleared to
begin working
CHANGE OF INFORMATION
Awards are based on the information students provide on applications for aid. Change to that
information (marital status, number of dependents, place of residence, withdrawal from period of
enrollment, reduction in the number of hours carried, change in
academic program, Social Security or Veteran’s benefits, etc.)
must be reported promptly in writing to our office for a determination of the impact, if any, on the
amount of funds awarded to you.
It is often necessary to revise
awards, especially if federal or
state funds are a part of the
award, in order to avoid exceeding your demonstrated financial
eligibility. We must, therefore,
reserve the right to review and /or
modify your award at any time.
Failure to contact us may
jeopardize continuation of your
aid, cause cancellation of aid, or
require repayment of funds already disbursed to you. All
awards are contingent upon the
availability of funds.
ENROLLMENT STATUS
Requirements for the number of
semester hours of credit you
must maintain for loans, scholarships, grants, and work may vary.
At Georgia College, most financial aid is packaged based upon
anticipated full-time enrollment:
12 hours for undergraduate, 9
hours for graduates.
REPAYMENT
Students who register, then withdraw, drop out, are expelled, or
change enrollment status are
subject to the University’s Refund
and Repayment policy (page 12),
and may have to repay a portion
or all of the aid received to the
University.
Financial Aid Policies
DISBURSEMENT OF FINANCIAL AID
A. General Information
1. Student must be enrolled before funds may be disbursed.
2. Student eligibility must be confirmed by the Financial Aid Office before funds are disbursed.
3. Students are expected to have sufficient funds for miscellaneous expenses when they arrive on campus.
4. Students who are eligible for Federal financial aid must have on file a valid Student Aid Report in
electronic form to the Financial Aid Office before funds are disbursed.
5. Students must be fully accepted for admission to GC before funds may be disbursed.
6. Specific questions on individual cases should be addressed to the Financial Aid Office at (478) 445-5149.
B. Loans (Students must be enrolled at least half-time.)
1. Federal Perkins Loan: Students awarded this loan must sign a promissory note in the Student Loan
Collections Office before funds may be disbursed.
2. Federal Direct Stafford Loan: Under Federal Law: Students must complete a Loan Entrance Counseling
session and sign a Master Promissory Note before funds may be disbursed.
3. Federal Direct PLUS Loan: Parents who are awarded a Federal PLUS Loan must receive an approved
credit decision from the lender and complete an electronic Master Promissory Note (MPN) before funds
may be disbursed.
4. Federal Perkins, Federal Direct Stafford, Federal Direct PLUS Loans: Borrowers who use these funds to
finalize Business Office bills may elect to cancel their loans and use another form of payment within 30
days of disbursement. The Financial Aid Office must be notified in writing of the cancellation within 30
days of disbursement.
C. Disbursement Procedures
Once all requirements have been met:
1. Funds awarded from the following may be applied directly to the student’s Business Office account:
GRANTS
Federal Pell
Federal SEOG
HOPE Scholarship
LOANS
Federal Perkins Loans
Federal Direct Stafford Loans
Federal Direct PLUS Loans
2. These awards will be authorized to the student’s Business Office account once classes have been
reserved.
3. Any remaining balance to the student’s account must be paid to the GC Business Office prior to the published deadline in order to reserve classes.
4. Eligibility is reviewed again at the end of the drop/add period (census date), and appropriate funds are
disbursed to the student’s Business Office account.
5. Once the Business Office bill has been settled, remaining aid with the exception of the HOPE Book
Allowance, which is released in a check or direct deposit, (if selected), may be used toward the purchase
of books at the GC Bookstore beginning approximately 3 days prior to the first day of classes through the
end of the drop/add period.
6. If the amount of financial aid awarded exceeds tuition and fees due at registration, the difference will be
disbursed in the form of a check or direct deposit, if selected, by the GC Business Office, 111 Parks Hall,
approximately seven days after the end of the drop/add period.
7. Students who use personal funds to pay for tuition and fees may receive reimbursement checks or direct
deposit, if selected, from the GC Business Office approximately seven days after the end of the drop/add
period if aid is received after payment is made.
8. Financial aid awards made after the student’s bill is satisfied will be disbursed within 10 days after awards
are made.
Refund Policies and Procedures
FEDERAL TITLE IV REFUNDS
Students who are entitled to a refund for withdrawal and are receiving student financial aid (SFA) are subject to
having all or part of the refund returned to the appropriate financial aid programs. For those students who withdrew prior to 60 percent of the enrollment period elapsing, a pro-rated schedule is used to determine how much
SFA funds were earned at the time of withdrawal. The University must return to SFA Programs the lesser of:
The amount of SFA Program funds that the students do not earn; or
The amount of institutional costs that students incurred for the period of
enrollment multiplied by the percentage of funds unearned.
However, students are not required to return 50 percent of the grant assistance received.
SFA funds must be returned in the following order:
• Unsubsidized Stafford Loans
• Subsidized Stafford Loans
• Perkins Loans
• Federal PLUS Loans
• Federal Pell Grants
• Federal Supplement Educational Opportunity Grants
• State Scholarships
If more aid is received that could have been reasonably spent for non-institutional costs (excluding Direct Loan
Programs), the unearned portion must be returned to SFA Programs.
Per federal regulations, students who fail to earn a passing grade in any course are considered to have
unofficially withdrawn from GC.
HOPE-ONLY REFUND
If a refund is due and the student received HOPE funds only (no federal aid), then such amounts must be refunded to HOPE, rounded to the nearest dollar, by applying the institution’s refund policy to the student’s original HOPE award for tuition and HOPE-approved mandatory fees. The book allowance is not part of the refund
calculation.
TITLE IV and HOPE REFUND
If the student received Federal Title IV funds in addition to HOPE funds, the school must follow the Title IV Return of Funds policy for any federal aid received. To determine the refund to HOPE, the school must then follow
their institutional refund policy, if different from Title IV Return of Funds. If all or part of the student’s Title IV aid
was disbursed directly to the student, the school must bill the student for the refund. This will prevent the student from receiving any additional scholarships or grants from the Authority until the refund is paid.
Summary of Financial Aid Programs
Name of Aid
Resource
Type of Aid
Eligibility
Application
Deadline
Award Amount
Federal Pell Grant
Grant
Citizen or eligible noncitizen; Undergraduate;
Exceptional need
July 1 for
Fall Semester
Maximum $5,550
(2010– 2011)
Federal Supplemental
Education Opportunity
Grant (FSEOG)
Grant
Citizen or eligible noncitizen; Exceptional need
Priority– March 1
Maximum $1,500
HOPE Scholarship
Scholarship
Legal resident of Georgia; graduate of an eligible high school with a ―B‖
average; Maintain a 3.0
GPA
July 1 for
Fall Semester
Tuition and
Approved fees;
Book Allowance
Georgia’s HERO
Scholarship
Scholarship
Member of the Georgia
National Guard and US
Military Reservists who
served in combat zones
or the children of such
members
To be announced
Up to $2,000
Per academic year with
A maximum of $8,000
Federal Work Study
Employment
Established Financial
Need
Priority– March 1
Maximum $2,800
Federal Perkins Loan
Loan
Established Financial
need; Enrolled six or
more hours.
Priority– March 1
Maximum $4,000
Federal Direct Subsidized Loan
Stafford Loan
Established financial
need; Enrolled six or
more hours
July 1 for
Fall Semester
$3,500 Freshman
$4,500 Sophomore
$5,500 Junior and Senior
$8,500 for Graduate
Federal Direct
Unsubsidized
Stafford Loan
Loan
Enrolled six or more
hours;
Non-need based
July 1 for
Fall Semester
Up to $6,000 Freshman
and Sophomore
Up to $7,000 Junior and
Senior
Up to $12,000
Federal Direct PLUS
Loans
Loan
Parent of dependant,
undergraduate student;
Enrolled six or more
hours, non-need based
July 1 for Fall Semester
COA minus other
Aid received
