Financial Aid for the Gordon College Teacher Education Program

Financial Aid for the Gordon College RN to BSN
Completion Program – Division of Nursing and
Health Sciences
Financial Aid Application Procedures
Overview
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All students interested in applying for financial aid must complete the entire Free Application
for Federal Student Aid (FAFSA) process after January 1 of each year in order to receive
consideration for federal and/or state aid for the upcoming academic year.
The only exception to this requirement is for students applying ONLY for the HOPE
Scholarship. HOPE applicants should refer to the HOPE Scholarship section of this Web
site for the specific instructions on completing the GSFAPPS electronic application
(http://www.gacollege411.org) in lieu of the FAFSA.
The FAFSA application process is used to determine your eligibility for aid such as:
Federal Pell Grant
Federal Stafford Student Loans
Federal Parent Plus Loan for Undergraduate Students (PLUS)
HOPE Scholarship
Limited funded federal/state campus-based aid such as:
Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal Work-Study (FWS)
Leveraging Educational Assistance Partnership Grants ( LEAP)
Priority Consideration Deadline
Priority Consideration Deadline Defined
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Students can apply for the Federal Pell Grant by completing the FAFSA process
any time during the award year. Federal Campus-Based funds (such as the
FSEOG, FWS, and LEAP are limited.
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Students who complete the entire application process which consists of
submitting the FAFSA, completing the verification process (if selected),
furnishing us any other requested documentation (citizenship, Selective Service
registration, etc.) no later than April 1st each year, will comprise the initial group
of students who receive priority consideration when we award these funds.
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If funds still remain after we have considered and awarded the eligible students
in this initial group, we then consider and award eligible students who completed
the application process by April 2, 3, 4, etc. until these funds are exhausted. The
aid application process can take four or more weeks during peak processing
times. See the Application Deadlines at
http://www.gdn.edu/FinancialAid/applyforaid/deadlines.asp.
When Aid Pays School Charges
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If you do not receive your electronic Financial Aid Award by the semester
deadlines, you should plan to pay all educational costs. You will be reimbursed
when you complete the process.
Also, if you are awarded student loans, those funds are not available until you
have signed your Master Promissory note and completed any required loan
entrance counseling.
You must have signed your Master Promissory note and completed any required
loan entrance counseling in order for these funds to disburse.
Free Application for Federal Student Aid
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You may submit the FAFSA or your Renewal FAFSA which is available January 1 of each
year. Visit FAFSA on the web at http://www.fafsa.ed.gov for more information. Students
and parents who electronically file make fewer errors and the process is much faster than
filing the paper FAFSA. We encourage electronic filers to print and complete the PreApplication Worksheet prior to completing the web based FAFSA. You can print the PreApplication Worksheet from Section 1 of the FAFSA on the Internet. The Gordon College
Title IV federal school code is 001575. Be sure to list Gordon College's federal school code
in the appropriate section to ensure that Gordon College receives your application. You may
contact us for a paper FAFSA if you do not have computer access or choose not to file
electronically.
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Use your name exactly as it appears on your Social Security card. Do not use nicknames,
abbreviations, or middle names as first names. The U. S. Dept. of Ed. requires your name
on the FAFSA to identically match your name on Social Security Administration records.
You will be required to submit additional information if there is a name conflict.
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Students applying ONLY for the HOPE Scholarship do not need to complete a FAFSA
application. HOPE applicants should refer to the HOPE Scholarship section of this Web site
for the specific instructions on completing the GSFAPPS electronic application
(http://www.gacollege411.org) in lieu of the FAFSA.
Federal PIN
Those students who submitted a FAFSA for a previous Academic Year
should have received a Personal Identification Number (PIN) from the
U. S. Department of Education (U.S. Dept. of Ed.). The PIN serves as
your personal identifier and permits you to access your personal
information in various U.S. Dept. of Ed. systems. Your PIN also serves
as your electronic signature for U. S. Dept. of Ed. purposes, so do not
share it with anyone. If you cannot locate your PIN or do not have one,
go to http://www.pin.ed.gov to request a PIN. Once you receive your
PIN, you can then complete and submit the electronic FAFSA. Parents
of dependent students also need to request a PIN.
Student Aid Report
If you provide your e-mail address on your FAFSA, the U.S. Dept. of Ed. Central
Processing System (CPS) will send you a PIN e-mail containing a direct link to
your PIN (if you don't already have a PIN); and a Student Aid Report (SAR) email notification containing a direct link to your data on "SAR on the Web". You
will receive this notification approximately one to two weeks after submitting your
completed FAFSA to the CPS. If you do not provide your e-mail address on your
FAFSA, the CPS will send you a paper SAR and if you do not have a PIN, they
will also send you a paper PIN mailer. You will receive this document
approximately three to four weeks after you submit your complete FAFSA.
Review the SAR for accuracy. If the SAR needs corrections, make them on the
FAFSA web site (www.fafsa.ed.gov) using the appropriate pin numbers.
Application Status at Gordon College
Students who have applied for aid but have not received the electronic
notice of their Financial Aid Award can electronically review their
financial aid award status by accessing the "Application Status" option
under the Student Financial Aid Menu on Banner Web. Application
Status will indicate if and what additional information we still need to
complete your application process.
Verification Process
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The U.S. Dept. of Ed. created the Verification Process to confirm the accuracy of information
submitted on the FAFSA. Your Student Aid Report (SAR) may indicate your application was
selected for Verification. However, Gordon College participates in the U.S. Dept. of Ed.'s
Quality Assurance Program (QAP) so only students who receive Verification Worksheets
from us are required to complete the process at Gordon College. Even if your SAR does not
state you have been selected by the U.S. Dept. of Ed., you may be required to complete a
Verification Worksheet and provide us tax forms. You should only provide tax documents
if we request them.
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Please submit signed copies of all requested documentation. If requested, please
submit a signed copy of the federal income tax return(s) and W-2 forms. The U.S.
Internal Revenue Service's (IRS) granting of an extension to file a tax return does not
eliminate the requirement to submit the tax return to us. The Verification process
cannot be completed until all requested documents have been received.
Verification Process, Cont.
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Under certain circumstances it may become necessary for you to submit
additional information as part of the verification process. If you are required to
submit additional documentation you should promptly submit the requested
information to us. Complete and sign the appropriate Verification Worksheet
and submit signed copies of all requested documentation as requested.
The U.S. Internal Revenue Service's (IRS) granting of an extension to file a
tax return does not eliminate the requirement to submit the tax return to
us. The Verification process cannot be completed until all requested
documents have been received. If discrepancies are noted between the
information submitted on your FAFSA and the Verification documents, we will
electronically transmit the corrected information to the U.S. Dept. of Ed. Central
Processing System (CPS).
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We will contact you if we need additional information to process your application
for student financial aid. Please respond promptly to prevent delays in
processing your application for aid. We cannot determine your aid eligibility
until the Verification Process is complete.
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**As a reminder only submit the documentation that is requested of you by
the Gordon College Financial Aid Office.**
Electronic Financial Aid Awards
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Electronic Financial Aid Awards may be viewed on the student's
Banner Web account. All Gordon College students are required to have
a valid Gordon College e-mail address. We use your Gordon e-mail
address as the preferred mechanism to electronically notify you of the
availability of your Financial Aid award. It is critical that you regularly
check your e-mail account and delete old e-mails in order to avoid
reaching your disk space capacity; otherwise your electronic Award
notification may be rejected by your account.
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When you access your electronic award, review all award messages
and the information we provide concerning the types of aid included on
your award. Gift aid (HOPE Scholarship, Federal Pell Grant etc.) is
automatically accepted for you at the time of the award. We also notify
applicants who request aid that is not available.
Summary of Overview
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Complete the FAFSA as soon as possible after January 1st of each
year (you should complete your tax return before completing the
FAFSA).
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Submit all requested signed documentation to the Gordon College
Financial Aid Office in a timely manner.
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If requesting a student loan, please complete the Gordon College
Student loan request at the following link: www.gdn.edu/FinancialAid/.
Select the appropriate Stafford Loan Request (by aid year) located in
the tan box on the right side of the screen.
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Once the loan is processed, sign the Master Promissory Note (online)
as soon as possible.
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Pay all tuition and fees (unless the total is covered by financial aid) by
appropriate deadlines.
Student Loans
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Stafford Loans are low interest loans made to students.
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The Federal Stafford Loan, as part of the Federal Family Education
Loan Program (FFELP), is the most widely used loan in the student
education loan program. There are two types of Stafford Loans,
Subsidized and Unsubsidized. A Subsidized Stafford Loan is available
to students who have financial need. An Unsubsidized Stafford Loan is
an option for students who do not demonstrate financial need.
Subsidized Stafford Loan
For the student with financial
need, the federal government
pays the interest on the
subsidized loan while the
student is enrolled in college at
least half-time and for six
months after the student is no
longer enrolled. At the end of
the six-month period, the
student becomes responsible
for the loan interest and
repayment.
Unsubsidized Stafford Loan
While unsubsidized loans are offered to students with no financial
need, the student with an unsubsidized loan is responsible for the
interest at all times. Students can choose to pay the interest while
they are enrolled or have it added to the loan principal. Delaying
interest payment by adding to principal, however, will increase the
cost of the loan. Repayment of the principal begins six months after
the student is no longer enrolled.
Eligibility for Student Loans
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You first complete the Free Application for Federal Student Aid (FAFSA) and have your
results sent to the financial aid offices of the schools to which you are applying for admission
and financial assistance. Each financial aid office then determines if you are eligible for a
subsidized or unsubsidized Stafford loan and, if so, includes this recommendation and loan
amount in your financial aid award package. Other eligibility requirements follow:
Citizenship - You must be a U.S. citizen or an eligible non-citizen.
Enrollment - You must be enrolled or accepted for enrollment at least half-time at a
participating school in an eligible program leading to a degree or certificate; or leading to a
professional credential or certification from a state, that is required for employment as an
elementary or secondary school teacher in that state; or be enrolled for not longer than a 12month period in a course of study which has been determined as necessary for enrollment
in a degree or certificate program.
Academic - You must be maintaining satisfactory academic progress in your course of
study according to your school's standards and statutory requirements.
Non-Default - You must not be in default on an educational loan or owe a refund on an
educational grant.
High School - You must have a high school diploma or GED or pass an independently
administered test, determined by your school, that demonstrates your ability to benefit from
the program of study.
Law - You must meet all of the other Federal Stafford Loan program eligibility requirements
prescribed by law at the time your loan application is processed.
Loan Amounts
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The amount students may borrow depends on their grade level in
school, program length, amount of other financial aid received, and —
in the case of the subsidized Stafford Loan — the amount of financial
need. The annual maximums by grade level are shown below:
$3,500 - first year of undergraduate school
$4,500 - second year of undergraduate school
$5,500 - third year and beyond of undergraduate school
$8,500 - graduate/professional students
Depending on the grade level and the program length, independent
students may borrow additional amounts (above these maximums) as
unsubsidized Stafford Loans. Total (subsidized plus unsubsidized)
lifetime maximums are listed below:
$23,000 - undergraduate students (Subsidized)
$23,000 – undergraduate students (Unsubsidized)
$57,500– Total Loan Indebtedness – undergraduate students
$146,000 - graduate students (including any undergraduate loans)
Applying For A Student Loan
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Complete the FAFSA for the upcoming Academic year:
www.fafsa.ed.gov
If requesting a student loan, please complete the Gordon College
Student loan request at the following link: www.gdn.edu/FinancialAid/.
Select the appropriate Stafford Loan Request (by aid year) located in
the tan box on the right side of the screen.
Sign the Master Promissory Note (if necessary) when notified it is ready
to sign.
Important Financial Aid Links
Go to www.gdn.edu/FinancialAid/
Select Financial Aid Information under the “What You Need to Know” heading.
Financial Aid Links, Cont.
Select any of the links listed under the Links for 2009-2010 (or appropriate aid year)
for further information on Financial Aid .
Scholarship Opportunities
Contact your specialty nursing organization(s) for educational scholarships
Examples:
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American Association of Heart Failure Nurses (www.aahfn.org)
Oncology Nursing Society (www.ons.org)
American Nephrology Nurses Association (www.annanurse.org)
National Association of Orthopedic Nurses (www.orthonurse.org)
American Association of Critical Care Nurses (www.aacn.org)
Academy of Medical-Surgical Nurses (www.amsn.org )
There are MANY other nursing organizations with educational
scholarships! Check them out!
HHS Announces $13.4 Million in Financial
Assistance to Support Nurses
„ HHS Deputy Secretary Bill Corr today announced the release of
$13.4 million for loan repayments to nurses who agree to
practice in facilities with critical shortages and for schools of
nursing to provide loans to students who will become nurse
faculty. The funds were made available by the American
Recovery and Reinvestment Act (ARRA), signed Feb. 17, 2009,
by President Obama.
„ The awards come from two programs administered by HHS'
Health Resources and Services Administration (HRSA): the
Nurse Education Loan Repayment Program and the Nurse
Faculty Loan Program.
Nurse Education Loan Repayment
Program (NELRP)
„ Funding announced today under the Nurse Education Loan
Repayment Program (NELRP) totals $8.1 million.
„ Those funds, awarded competitively, will help 100 registered
nurses pay their nursing education debts.
„ The program repays 60 percent of the loan balance of
registered nurses in exchange for two years of service at
facilities with a critical shortage of nurses.
„ Participants may be eligible to work a third year and receive
additional repayment assistance.
Nurse Faculty Loan Program
(NFLP)
„ Funds announced today under the Nurse Faculty Loan Program
(NFLP) total $5.3 million.
„ Those funds go to schools of nursing to support the training of
500 masters and doctoral nursing students who plan to become
nurse faculty after completing their education.
„ Following graduation, loan recipients may cancel up to 85
percent of the loan principal and interest in exchange for four
years of service as a full-time nursing faculty at a school of
nursing.
Loan Repayment Program and other Recovery Act
programs for health care professionals
„ For additional information about the Loan Repayment
Program and other Recovery Act programs for health
care professionals, see
http://bhpr.hrsa.gov/recovery/.
Questions?
Financial Aid Office
678. 359. 5990