Important Financial Aid Information

• The financial aid proposal lists all of the financial aid that a student is eligible to receive at GCC. This proposal should be reviewed as soon as it is received. It is not necessary to return the award proposal unless changes need to be made. Students should submit the Financial Aid Proposal Change Form if they will not be attending full-time, they want to decline their college work-study or student loan and/or they receive other financial aid not listed on the financial aid proposal. A revised award will be calculated after these changes have been submitted. Students can view all of their financial aid and account information online at https://jics.adm.gogebic.edu/ics/



• If a student believes they are eligible for a type of financial aid that is not listed on their financial aid proposal, they need to call the GCC Financial Aid Office. There may be other requirements that need to be fulfilled or we may not have received notification from various funding sources of the student’s eligibility. We award the student all the aid that they were eligible to receive as of the date on the financial aid proposal.



• The financial aid proposal is an estimate that is subject to revisions due to changes in the student’s 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.



• If after the student considers their resources and expenses and they believe additional assistance will be necessary for them to attend GCC, they may want to inquire about additional loan options such as alternative loans, parent loans or Federal Direct loans (if not already received). The student should call the GCC Financial Aid Office for further information regarding these loan procedures.



• An estimate of tuition/fee and book/supply costs is listed on the financial aid proposal. For a full-time student, this estimate is based on the student enrolling in 16 credits per semester. These costs will increase or decrease based on the actual enrollment status. The student will not know the exact amount of their direct costs to GCC until the student registers for their classes and charges are generated. The student will also owe GCC for housing costs if the student is staying in on-campus housing.



• The aid proposal is based on the financial information that was reported on the FAFSA. Students are entitled to an explanation of the award process, which includes the financial aid budget, expected family contribution and financial aid proposal. Questions regarding any aspect of this process should be addressed to the GCC Financial Aid Office.



• Students are required to report all changes in their financial status to the GCC Financial Aid Office. Adjustments may need to be calculated.



• Students are required to pay their tuition and fees before they begin attending classes. Full payment is due the Friday of the first week of classes.



• Grants, scholarships and student loans may be available to use to pay for the tuition and fee charges. This is in the form of estimated financial aid. If available, the aid amount will be stated on the billing statement. Any tuition and fee balance remaining after aid is used must be paid in full by the due date. If there is remaining aid on the account after all tuition/fee and housing (if applicable) charges have been deducted, it can be used to purchase class related books and supplies in the college bookstore.



• Students may use cash, checks, credit cards or GCC’s payment plan to pay any outstanding charges. Payments are submitted by mail or in person to the Business Office in Room 209 of the Rutger Erickson Academic Building or by calling 906-932-4231, ext. 205. Call the Business Office to receive information on GCC’s payment options.



• Financial aid is reconciled with the student’s enrollment status at the end of our drop period. Financial aid will be disbursed on the student’s account at this time (Students must enroll in six or more credits in their program of study to be eligible for student loans.) Student expense checks are normally disbursed the fourth week of classes. GCC deducts the tuition/fees, bookstore charges and campus housing costs from the student’s financial aid before an expense check is released. Remember that first-time borrowers must wait 30 days to receive their student loan checks. Loan checks are also disbursed in two installments during the course of the semester for those students who are only borrowing for one semester. An expense check may be released at a later date if the student falls into one of these categories or the student may receive a small expense check when the first round of checks are disbursed and the remaining balance when the student becomes eligible.



• If a student totally withdraws from GCC or quits attending classes before 60% of the semester enrollment period has passed, they may need to pay a portion of their financial aid back to GCC and/or the federal financial aid programs. If a student fails to begin attendance in any class, the class will not be counted in the student’s enrollment status for financial aid.



• GCC is required to establish satisfactory academic progress standards for our federal and state financial aid recipients. Satisfactory academic progress measures the student’s performance by cumulative grade point average, completion rate of courses and maximum time limits to complete the program. If a student does not meet these standards, they could be terminated from receiving any future financial aid. The standards are outlined in the school catalog.



• College work-study placements will be made in July/August and mailed to the student along with the program guidelines.



• Students are not allowed to receive financial aid at two institutions during the same enrollment period. Contact the GCC Financial Aid Office for additional information.



• Students must complete the three steps in How to Apply for a Federal Direct Student Loan before any loan proceeds can be disbursed. The financial aid proposal may have indicated that the student was eligible to receive a student loan, but this does not mean that the student has applied for the loan. If a student requests a loan amount that is greater than what is listed on their Financial Aid Proposal or the student receives additional financial aid in excess of $500, the student may be required to fill out a Budget Worksheet. Parent loans are also available. Contact the GCC Financial Aid Office for additional information and visit www.studentloans.gov.



• All students must file a FAFSA every year. Financial aid is not automatically renewable.