Awarding Financial Aid

GCC 2018-19 Catalog - Page 27

Awarding Financial Aid one application for all scholarships. The process

automatically selects and sorts the students according to

the eligibility criteria of the individual scholarships.

Students will be notified via their GCC e-mail if they were

selected as a scholarship recipient. This notification is

normally sent out within three weeks of the scholarship

application deadline. If a student does not receive a

scholarship during the first round of awarding, their

application is stored in the data base for the entire

academic year. Scholarships are awarded on a continual

basis as new scholarships are received. Click on

http://gogebic.academicworks.com

to

access

the

scholarship application.

AWARDING FINANCIAL AID

GCC strives to provide each eligible student sufficient resources

to meet their direct educational costs as well as provide some

financial assistance to help in meeting living expenses. GCC’s

goal is to distribute the available resources across the eligible

population in a fair and equitable manner and to make use of all

available resources. GCC strives to ensure access to the student’s

chosen field of study is not limited due to lack of funding and, at

the same time, try not to loan burden the student.

The Financial Aid Office reviews all applications and determines

the amount and the type of aid to be awarded. The amount

awarded is determined by need, FAFSA information, eligibility,

timeliness of application, response to requests for information,

amount of funds available and individual program guidelines.

(Summer school financial aid is limited and awarded based on the

availability of funding. Students are required to register for

summer classes before financial aid is awarded for the summer

school session).

Financial aid packages are created for students throughout the

academic year. GCC utilizes a combination of packaging models

in awarding financial aid and employs a policy of packaging gift

awards first, college work-study second and loans last. Award

proposals will be mailed to the students approximately 15

business days of file completion, detailing the type and the

amount of financial aid being offered. Financial aid is not official

until an award proposal is received from GCC and the student has

been accepted in to an eligible program. It is not necessary to

return the award proposal back to GCC.

GCC determines eligibility for most types of aid the student will

receive, but there are times when final approval is given by the

state or federal government and/or lending agencies, such as

Michigan Works, Bureau of Indian Affairs, Veteran Affairs, etc.

No financial aid will be disbursed until the school receives an

official notice from the various sources. It is recommended the

student periodically check with GCC and the agencies to find out

the status of the student application.

Financial aid is based on the number of credit hours the student is

enrolled in. Students are classified as less than half-time (1-5

credits), half-time (6-8 credits), three-quarter-time (9-11 credits)

or full-time (12 credits or above). All students will receive an

original financial aid package based on full-time status or actual

registered credits depending if the student has registered for

classes. If a student’s enrollment status changes, financial aid will

be adjusted based on the number of enrolled credits. Students will

26

be able to access all financial aid revisions as well as tuition bills on

My GCC at gogebic.edu. At the end of the drop/add period, the

student’s financial aid will be reconciled to match their final

enrollment status.

Students need to review the award proposal to determine if the

resources offered are adequate to meet college expenses. If additional

assistance of some type is necessary after reviewing the costs and

financial aid, students may need to increase the amount of their loan,

if eligible, or explore scholarships, grants and loans offered by outside

professional, business and private organizations. A student should

never begin attending college without knowing the cost of their

education.

Financial aid proposals are estimates subject to revisions due to

changes in enrollment, correction of errors and omissions,

adjustments because of false or misleading student information,

receipt of outside scholarships, grants and loans, conflicting

information, changes in the availability of funding, failure to maintain

satisfactory academic progress and the requirements of state and

federal law and institutional policy. The Financial Aid Office reserves

the right to revise, adjust or cancel the award at any time based on

new or conflicting eligibility information. The student is required to

report all changes in their financial aid status to the GCC Financial

Aid Office.

Students who enroll in a program of study abroad approved for credit

by the home institution may be considered for federal student

financial assistance.

DISBURSEMENT OF FINANCIAL AID

A student may receive one or more types of financial assistance –

grants and scholarships, college work-study and student loans. The

type of assistance will influence the disbursement process. Financial

aid is disbursed on a semester basis.

Grants, Scholarships and Student Loans – Grants, scholarships

and student loans may be available to apply against direct charges if

a student’s financial aid file is complete. The amount of the student’s

disbursement will be printed on the student’s tuition/fee bill. If the

amount of financial aid does not cover the total cost, the student is

responsible for paying the balance through their own personal

resources. Any credit balance remaining after all charges have been

deducted may be used to charge the student’s books and supplies

purchased through the campus bookstore. The student must provide

the bookstore clerk with identification and the account will be

adjusted to reflect the new charges. If the student continues to have a

remaining credit balance after all of the tuition/fee, bookstore and

housing (if applicable) charges have been processed, the student will

be provided with an expense check. This check is generally disbursed

during the sixth week of classes.

Student Loans - Students who participate in the federal student loan

program must also complete the Master Promissory Note (MPN), the

Federal Direct Student Loan Request Form and the loan entrance

counseling before funds can be disbursed on the student account. The

student’s enrollment status for at least six credits as well as their

academic standing and loan default status is also checked prior to

disbursement. GCC receives student loan funds electronically and the

student authorizes the electronic transfer of these funds when they

submit the MPN. Students are allowed to cancel the loan within 14

days after the date GCC sends the notification, advising the student

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