Understanding Academic Years

I have met with a lot of students recently who have completed their FAFSA for 2009-2010 and want to start taking classes this summer. In lieu of that mistake, and to hopefully avoid any future confusion, I wanted to spend a minute and talk about academic years and how financial aid works within those academic years.

When we award financial aid we have to award within specific boundaries. These boundaries are mandated by the Department of Education and we refer to them as “Academic Years”. An academic year runs from August –July, which translates into a fall, spring and summer semester sequence. So if a student wanted to submit a FAFSA and receive financial aid this summer, he or she would still be considered in the 2008-2009 academic year because we have not reached the fall semester yet. Once we reach the fall semester, we will begin awarding financial aid based on the 2009-2010 academic year FAFSA results.

At GTC we have many programs with various start and end dates so it is always important to note which academic year your classes fall within before you submit your FAFSA to be qualified for financial aid.

As always, you can submit a Free Application for Federal Student Aid at www.fafsa.ed.gov

If you have any questions, comments or concerns, please feel free to leave a comment and a financial aid officer will respond shortly. 

Help us help you!

Even though this blog has only been around for 2 weeks we have seen a large response. Financial aid is a topic that crosses the mind of every student in some capacity. With the economic times that we are all facing, financial aid may be an even more important component of your education. For many students, without financial aid, education is simply not a possibility. 

We understand this and we want to help! Please let us know what topics or questions you would like to see covered. We could spend days adding information to this blog but if it does not benefit you, our students, then we have not done our jobs. We want to give you the information you need to have an efficient and effective financial aid experience. 

So please leave a comment about what type of content you would like to see covered in this blog and we will make it happen.

Thank you!

Financial Aid Book Vouchers!!

With the summer semester rapidly approaching we are also about to enter into the season for book vouchers. What is a book voucher? Basically a book voucher works like an advance on your financial aid awards. Consider it a line of credit against your financial aid awards. To determine which students will get book vouchers and how much they will get, we run a simple calculation. We add up all of the financial aid that a student will get for the current semester, then deduct all tuition and fees. The remaining balance is money that can be made available in a book voucher (Remember that this is just an advance on your financial aid, not a separate award). Many students who elect to receive student loans may have thousands of dollars that have been “over-awarded” to them after tuition and fees have been paid. It is important to note that we also put limits on how much a student can use in a book voucher. The limits for summer 2009 are as follows: Full time- $900, ¾ time- $700, Half time - $500. If a student has paid for his entire tuition, used a book voucher and still has financial aid awards remaining, this money is mailed to the student in a refund check. NOTE: **Refund checks are typically mailed 4-6 weeks after classes start**

Book vouchers can be a great way to pay for your books and supplies without having to pay for these items out of pocket. However, not everyone is eligible for a book voucher. In order for a student to receive a book voucher he/she must do one of the following:

·         Submit a FAFSA for 2008/2009 and turn in all requested documentation to the financial aid office. We must have your FAFSA information before we can determine how much financial aid you will receive in the summer 2009 semester. If you have submitted a FAFSA but we have requested additional documentation, ALL documents must be submitted before we can issue a book voucher.

·         If you have received an award letter from financial aid you must return this to our office.

·         For students who received financial aid in fall 2008 or spring 2009 semester, you must have requested enough financial aid in the summer 2009 semester to fund your book voucher. **Student who only receive lottery tuition assistance will NOT be eligible for a book voucher**

·         If this is your first time receiving student loans you MUST have completed entrance loan counseling and have completed a master promissory note with your chosen lender before we can issue a book voucher.

If you meet these criteria for a book voucher you may print one from your campus cruiser account via web advisor beginning May 11^th, 2009. Book vouchers will be available until May 29^th. Book vouchers may also be printed at the GTC campus bookstore.

As always if you have any questions please feel free to leave a comment, question or suggestion and a financial aid officer will respond!

GTC Admissions and Registration Center

This short video will give you an introduction to GTC's Admissions and Registration Center or "ARC". This is basically your "one stop shop" where you can find all of the necessary people and places to get registered at GTC, apply for financial aid, enroll in classes, buy your books, even grab a tasty treat. 

Avoid Long Lines and Frustration?? Am I Dreaming?

Spring is in the air! There is always something exciting about the first blossoms of spring and knowing that within a few short weeks the temperature will be warming up and we will be well on our way to summer. In financial aid, we are in the middle of spring time also. We are enjoying the calm before the storm, and by “storm” I am referring to Fall registration. So, you may be thinking “How in the world can I avoid standing in those long lines at Financial Aid?” If you were not thinking that and were still focused on summer vacation, fear not, you might still find this useful!

FAFSA Tips and Pointers!

• Start Early! By submitting your FAFSA early (beginning January 1st, 2009) you will ensure yourself access to ALL of the financial aid award programs, and the opportunity to have all of your financial aid completed before you begin classes. Complete your FAFSA here: http://www.fafsa.ed.gov/ Also make sure you are aware of Greenville Tech's Priority Deadlines: http://prod.campuscruiser.com/q?pg=home_news&tg=News-detail&id=111178&cx=22.168
  


• Be Accurate! We all realize that the FAFSA can be confusing. So, consult the guide on the FAFSA’s website that walks you through the process. By ensuring that your information is accurate, you will greatly decrease the length of time it will take to complete your financial aid file.
  


• Follow Up! Once you submit your FAFSA, expect a letter from our office letting you know if we need any additional information, or letting you know all of the financial aid you have been awarded. If we have requested any documents to be returned…make sure they are returned in a timely manner.
  


• Read! There will always be instructions that accompany any financial aid mailing. Take a few moments to read all of these instructions and you could potentially avoid a trip to the financial aid office, or solve your problem with a simple phone call. Remember, financial aid does not have to be confusing; make it rewarding!
  


• Be Thorough! Double checking and triple checking your financial aid forms is always a good idea. Once again, by ensuring that your forms are accurate and complete, you exponentially decrease the time it will take to complete your financial aid file. Make sure all necessary steps are followed to receive certain awards (Complete Entrance Loan Counseling at http://mappingyourfuture.org/ and a Master Promissory Note with your chosen lender: http://www.salliemae.com/ , https://www.wachovia.com/personal/page/0,,325_496,00.html, http://www.slc.sc.edu/students/signapromissorynotempn.aspx if you have been awarded a student loan).
  


• Remain Positive! Make your financial aid work for you. Take advantage of all financial aid that has been awarded to you and use it as a tool to empower your future. Take advantage of the resources and information around you and take a proactive step in your financial aid. By remaining focused and positive you can ensure that your financial aid package is best tailored to you.

All of these tips can greatly impact the effectiveness of your financial aid experience. Our financial aid staff is devoted to helping our students obtain the best financial aid awards packages available. By following these tips above we feel that you will have a more rewarding experience in financial aid and truly benefit from all that financial aid has to offer!

We Want To hear From You!

Why a blog? Because at Greenville Technical College we have embraced education. We feel that by educating you, our students, about financial aid, we can play an active role in your future. This blog is intended to be a source of information and guidance. We will devote our time to communicating with you about all of your financial aid related questions. We want you to ask questions! In order to create an environment of good conversation, we ask that your comments and questions be respectful and appropriate. It is our goal to make the financial aid process less confusing and more rewarding, so…let the conversation begin!