Financial Aid Student Handbook
Financial Aid Student Handbook 2015-2016
Financial Aid Awareness
To help students understand the basics of financial management, the Financial Awareness Counseling module from the Department of Education will provide information on federal student loan debt, and an estimate of what their loan debt is likely to be at the time they leave school.
Start Here, Go Further With Federal Student Aid
10 Important Facts About Financial Aid
Student Aid on the Web
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Applying for Financial Aid
The College believes that any student who meets admission requirements should not be denied an education because of lack of funds. However, financial aid depends upon careful evaluation of all resources available to the student and the college. After being accepted for admission, all prospective students will be advised of financial aid application procedures. In order to participate in FSA, institutions are required to provide students and potential students with specific information regarding the student financial aid programs. At GSC, this information is provided in the college catalog, on the college website, Financial Aid Student Handbook, and other publications and through the college electronic communication process. Student rights and responsibilities are listed below, and in the Financial Aid Student Handbook.
We review financial aid applications and make annual selections based on financial need and the promise of academic accomplishment. Students must file a renewal application for each academic school year.
GSC's Federal Code for the FAFSA is: 006494.
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Need Based vs Non-Need Based Aid
Need Based Aid
- Pell Grant
- SEOG Grant
- OCOG Grant
- Federal Work Study
- Scholarships (Institutional and Outside)
- Subsidized Stafford Loan
Non-Need Based Aid
- Unsubsidized Stafford Loan
- Parent PLUS Loan
- Private Loan
Types of Financial Aid
Aid for most of the federal programs is awarded based on financial need (except for Direct Unsubsidized Loans, and Direct PLUS Loans). The Expected Family Contribution (EFC) on your Free Application for Federal Student Aid (FAFSA) is the number used to determine your federal student aid. The aid described below indicates whether it is Need based aid, or Non-Need based aid.
Cost of Attendance
Minus - Expected Family Contribution (EFC)
Equals = Financial Need
The Pell Grant program is a federal entitlement program authorized by the Education Amendments of 1972. Eligibility is determined from data provided on the Free Application of Federal Student Aid (FAFSA). Receive information about Pell Grants from your high school counselor or the GSC Financial Aid Office. The Federal School Code for GSC #006494.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG Program provides need-based grants to help undergraduate students finance higher education costs. Priority is given to students who are Pell Grant recipients with low Expected Family Contributions (EFC's). Students must file a FAFSA as part of the application process for the FSEOG. The FAFSA serves as the application for this grant.
Ohio College Opportunity Grant (OCOG)
Ohio residents in a degree/nurse diploma program with a FASFA Expected Family Contribution (EFC) number of 2190 or less and a maximum household income of $75,000 are eligible. Students are limited to 10 semesters or 15 quarters of state, need-based grant aid. The FAFSA serves as the application for this grant.
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The GSC Scholarship Application Form is required of any student who wishes to be considered for internal scholarships. The form can be found on the college web site in My GSC. Students entering the College in August (fall semester) should submit the form by June; December is the deadline for January (spring semester) entry students. There are a number of scholarships available -- the descriptions and requirements are available in the College Catalog.
Click here for a list of the available GSC Scholarships
The Ohio Nurses Foundation
The Ohio Nurses Foundation offers several scholarships for students who are earning their RN degree. Go to Ohio Nurses Association: Financial Assistance to download an application.
F.A. Davis Nursing Scholarship
F.A. Davis is delighted to offer our annual $1,500 undergraduate nursing student scholarship opportunity. This scholarship reflects our continual commitment to the education of nurses and recognizes the very special nature of those who have chosen to embark on this challenging, yet rewarding career path.
For more information and to apply, please visit fadavis.com.
Health & Human Services
In exchange for at least two years service at a health care facility with a critical shortage of nurses, the Nursing Scholarship Program pays for tuition, required fees and other reasonable costs including books and supplies. Go to Health Resources and Services Administration: Health Professions to apply.
A scholarship database has been created specifically for nursing students. See Scholarships, amounts and deadlines by going to http://www.nursingexplorer.com/scholarships
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Direct Stafford Subsidized Loan
A federally financed and subsidized student loan made on the basis of the student’s financial need and other specific eligibility requirements. The federal government does not charge interest on these loans while borrowers are enrolled at least half-time.
Consideration requires the filing of the Free Application for Federal Student Aid (FAFSA).
Direct Stafford Unsubsidized Loan
A federally financed student loan made to students meeting specific eligibility requirements. Interest is charged throughout the life of the loan. The borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized (added to the principal).
Direct PLUS Loans
Parents of dependent students can borrow PLUS loans to pay for their children’s education. Parents are responsible for all interest charges. Parents must begin paying on the fully disbursed loan after 45 to 60 days.
There are many ways to pay for higher education, and choosing the right approach requires a good understanding of your options, your responsibilities, and the various details of each lender's loan products.
It's a lot to keep in mind. FASTChoice makes it easy by providing you with information about private loans in an easy-to-understand format, to help you determine which private student loan best meet your needs. Please click here to apply.
Charles Schell, 5/3 Bank GSC Loan
A limited number of interest free loans are available to qualified students attending the College.
Loan Forgiveness Programs
Health and Human Services Nursing Loan Repayment
Nurses may want to take advantage of a federal program to help pay off nursing education loans. The Nursing Education Loan Repayment Program (NELRP) is aimed at giving nurses an incentive to practice in “critical shortage areas” by repaying up to 85 percent of their outstanding student loans for their nursing program. In exchange, nurses work at a qualified facility for three years.
To obtain further information or for an application, call (877) 464-4772 or email email@example.com or access the web site at Health & Human Services Nursing Loan Repayment.
Public Service Loan Forgiveness (PSLF)
Nurse Education Assistance Loan Program (NEALP)
The purpose of NEALP is to assist the state in meeting nursing shortages by providing financial assistance to Ohio students enrolled for at least half-time study (or accepted for enrollment) in approved Ohio pre-licensure nurse education program who intend to serve as nurses after graduation. NEALP provides up to $1,500 per year. In exchange, to qualify for loan cancellation, recipients must be employed full-time as a registered nurse or licensed practical nurse in the State of Ohio for a minimum of five years after graduation. Students must apply to the Ohio Board of Regents.
Veterans are eligible for educational benefits. The Veterans Administration provides a Veterans On-line Application called (VONAPP) to apply for these benefits. If you are a veteran of the US Military, please see the following links:
Federal Work-Study provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study. Students who are interested in participating in the Federal Work Study Program, should send an email to the Financial Aid Office at firstname.lastname@example.org to see if they qualify.
This service is available to students who wish to pay tuition on a monthly budget plan.
Other Sources of Financial Aid
Approved for training of veterans
Ohio Safety Officers College Memorial Fund
The Ohio War Orphans Scholarship
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