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
- top -
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.
- top -
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
Pell Grants (Based on 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) (Based on Need)
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)(Based on Need)
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.
- top -
Scholarships (Need varies)
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.
The Ohio War Orphans Scholarship
Program awards tuition assistance to the children of deceased or severely disabled Ohio veterans who served in the armed forces during a period of declared war or conflict. A student must be enrolled for full-time undergraduate study at an eligible Ohio College or university. Ohio residency is required and applicants must be under the age of 25. Application is made to the Ohio Board of Regents/State Grants and Scholarships Department.
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
CampusRN Scholarship Fund
CampusRN has $15,000 in Scholarships Available to Nursing & Allied Health Students.
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)
Workforce Investment Act
The Workforce Investment Act (WIA) is a federally funded program that establishes the Workforce Development System and provides funding to support training to unemployed adults and dislocated workers. GSC is a training center to help individuals who want to be a nurse get the training they need in their AASN two-year program to become a nurse. WIA assists eligible students in helping them with their educational expenses. Contact the area you live in to find out if you are eligible:
- top -
Federal Stafford Subsidized Loan (Based on Need)
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).
Federal 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).
Federal 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.
Private/Alternative Loan Programs
Contact the GSC financial aid department for private/alternative loans for information regarding those options, while enrolled in the college.
Charles Schell, 5/3 Bank GSC Loan
A limited number of interest free loans are available to qualified students attending the College.
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 $3,000 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.
Ohio Private Loan Marketplace
The Student Loan Marketplace is an online education financing resource that enables consumers to learn about and compare private loan terms from multiple lenders. Founded in 1969, Associate of Independent Colleges and Universities of Ohio (AICUO) represents privately supported, nonprofit colleges and universities in Ohio, conducting public relations, research and government relations for its members. The Student Loan Marketplace network of websites is powered by Overture Technologies. Overture provides all content and services in this site. Overture and AICUO do not endorse any of the loan products or lenders presented.
OHIO PRIVATE LOAN MARKETPLACE
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 (Based on Need)
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 working part-time, should complete and return the Work Study Application to the Financial Aid Office in the One Stop Center.
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
Local service clubs, churches, labor unions, companies, etc. offer grants and scholarships for college students. Also, search FinAid as a starting point for additional aid.
Ohio Board Of Regents
State Grants and Scholarships (SGS) administers a variety of grant and scholarship programs to aid students as they pursue higher education.
Ohio Safety Officers College Memorial Fund
Provides tuition assistance to the children and spouses of peace officers, fire fighters and certain other safety officers who are killed in the line-of-duty, anywhere in the United States. It also provides assistance to the children and spouses of a member of the armed services of the US, who has been killed in the line of duty during Operation Enduring Freedom, Operation Iraqi Freedom or a combat zone designated by the President of the United States. The child is only eligible for this program if he/she is not eligible for the Ohio War Orphans Scholarship. Interested students should contact the Ohio Board of Regents.
Student Aid on the Web
The U.S. Department of Education provides students with resources on preparing for and funding education beyond high school.
- top -