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.
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If I have been rewarded $9000 in loans for the summer, but only have $500 that I have to pay for the summer do I just not accept the loan? Or is it given anyway? And I just decided that I want to take 3 classes in the fall. Can I use that surplus loan money to pay for those 3 classes or do I have to reapply for FAFSA for a different year?
ReplyDeleteIf I received $9000 in loans to pay for a $500 summer class, can I use the surplus to pay for 3 classes that I want to take in the fall semester or will I have to reapply for aid for the fall and pay the loans all back right now? Can I reject the loans if I don't need them?
ReplyDeleteWhat days does the week start and end for the Federal Work Study program?
ReplyDeleteI am enrolled in a one year program that goes from fall to fall and I had applied for that one year financial aid 2008-2009. Will the financial aid cover the summer semester?
ReplyDeleteDoes changing yor field of study alter or make a diference with financial aid I am receiving?
ReplyDeleteOnce I earn a certificat in a certain area if I decide to go into a different area of study will I be able to get fasfa funding for that too or is that a one time degree thing? How does that type of thing affect eligetability for grants etc...?
When will the 2009-2010 Financial Aid award letters be mailed to Students?
ReplyDeleteI completed the financial aid and I received my award letter in the mail a few weeks later. I noticed the only financial aid on my award letter is loans. Last samester I was able to recieve lottery money. Why is it I didnt receive it this year? (My parents make the same as they did last year).
ReplyDeleteThanks
Thank you for your question. If you are awarded more student loans than you need to pay for your tuition, by all means, please reject the un-needed portion. To do this, simply cross out the unwanted portion on your award letter and put your initials by any changes that you make. Also, if for whatever reason your loan is processed for more than you wanted, you can always bring in your refund check and have that portion of your student loan canceled.
ReplyDeleteWe award financial aid based on academic years. So if you are taking 3 classes in the Fall 2009 semester, then you would need to apply for the 2009/2010 FAFSA and receive student loans in the Fall 2009 semester to pay for those classes.
ReplyDeleteThank you for your time.
Concerning the Federal Work Study Program, the start and end days may depend on your specific position. Depending on when your supervisor is working, you may have the opportunity to work between Monday - Sunday. Other positions may only be available Monday-Friday. However, you are not able to work over the 20 hours per week.
ReplyDeleteThank you for your time.
Concerning a one year program: your program must require at least 16 credit hours to be eligible for Title 4 federal funding. If you have received an award letter for 2008/2009 and have been awarded financial aid for the Fall and Spring semesters, you may have additional financial aid remaining for the summer semester. If you would like to have a financial aid advisor look over your account, please contact us at financialaid@gvltec.edu
ReplyDeleteThank you for your question!
Concerning changing your field of study: One of the tenets that we use to determine your eligibility is the 150% rule. For instance, if your certificate program requires 30 credit hours to graduate, you are only able to take up to 45 credit hours (or 150% of 30) and still be eligible for federal funding. However, if you are able to graduate from a certificate, diploma or degree and are progressing on to an additional degree (as long as your initial degree is not a Bachelors) you can still be eligible for federal financial aid. If this is the case, you would need to provide Greenville tech with proof of your certificate, diploma or degree and then ask the financial aid office to re-calculate your federal eligibility. If you would like a financial aid officer to take a look at your account, please contact us at financialaid@gvltec.edu
ReplyDeleteConcerning award letters for 2009-2010:We began mailing out award letter for the 2009/2010 academic year in the middle of May. if you have submitted your FAFSA and have not received an award letter yet, I would check on web advisor via campus cruiser to see if you can view a copy of your award letter. If not, then I would contact the financial aid office to see if there is any additional information we may need before we are able to mail you an award letter.
ReplyDeleteThank you for your question!
Hi dman153,
ReplyDeleteRegarding your lottery tuition assistance: we do not find out how much the state legislature has alloted for lottery tuition assistance until a few weeks before the Fall 2009 semester begins. Once we get this updated amount from the state legislature we will begin awarding these funds to all eligible students. I would advise to check back towards the end of the summer and you should see this award if you are still eligible.
Thank you for your question!
I have not received my second check for the spring semester. How long should I have to wait for it? I depend on it for rent.
ReplyDeleteThe second disbursement date for the spring semester was 3/11/09. Since the spring semester is already completed and you have still not received your check, I would advise to e-mail us at financialaid@gvltec.edu. Please include your social security number or your student ID and we can access your account and provide you with specific details regarding your refund check.
ReplyDeleteThank you for your question!
I received an award letter.I'm wondering if you got it and will any money be awarded for summer?
ReplyDeleteHi M Hollis,
ReplyDeleteI would need to look into your specific account to view any details about your award letter and the amount of aid you were awarded for the summer semester. If you would like to e-mail us at financialaid@gvltec.edu a financial aid officer would be more than happy to answer your question.
Thank you!
I completed my FAFSA for the 2009-2010 school year in April. I received my SAR stating that I could be eligible for a Pell Grant but I have never received an award letter or anything else stating that other information was needed in order to process my financial aid. What should I do now or who should I call and talk to?
ReplyDeleteHi Amadden,
ReplyDeleteI would recommend to contact us at financialaid@gvltec.edu . There may be more information we are requiring before we can mail you an award letter. Please include either your student ID or your SSN and we can look up your account and let you know what the issue may be.
Thank you for your question!
I completed my Fafsa for 2009-2010school year in April. I sent in all the information that was needed. I receive a letter stating that one piece of the information that was needed to complete my financial aid was missing with no hesitating I sent that piece of informaton that was needed back.I still haven't heard anything back. WHat should I do now just wait or should I call and talk to someone. I receive Life Scholarship as a Award from my school,Would I be able to use this as part of my award even if I get awarded anything.
ReplyDeleteJune 11,2009
It sounds like you have completed all of the necessary steps to complete your financial aid file. If you still have not received an award letter I would advise to call into the financial aid office and speak with an officer. We can review your account and see why you have not received an award letter yet.
ReplyDeleteThank you for your question!
I recieved a student loan for 2008-2009 and am going to have same for 2009-2010. Do I have to do the mapping you future again or will it automatically just be added to the other loan? Also my letter stated that if I don't take at least 12 credits the amount will be reduced. My problem is that I am not planning on taking 12 credits in the fall but am planning to in spring. How will that effect my loan?
ReplyDeleteConcerning your question regarding student loans: Once you have completed entrance loan counseling through Mapping Your Future, you will only need to complete it once every 10 years. Also, generally awards are determined by the amount of credit hours that you take, however with student loans you are able to get your full requested amount as long as you are taking at least 6 credit hours. Since it is a loan that you sign for and must repay, you are able to get the full amount with at least 6 credit hours.
ReplyDeleteThank you for your question!
i forgot to cross out the unsub. portion of my 09-10 award letter. how do i correct this?
ReplyDeleteHi Tiffany,
ReplyDeleteI would recommend to come into the financial aid office and submit a Stafford loan cancellation form. This will allow us to cancel your unsubsidized disbursement.
Thank you for your question!
I have not received my first disbursement check for the summer semster. Do you know how much longer it will be?
ReplyDeleteThe first checks were mailed out on Friday June 19th. If you have not received your check in the mail as of today I would contact our office to see why your check was not processed. You may contact us at 864-250-8128.
ReplyDeleteThank you for your question!
Hello,
ReplyDeleteI am currently taking summer classes and I was told by you guys that financial aid would come on the 2008-2009 acedemic year fafsa. Well in the fall and spring I had stafford loans and lottery money to cover tuition with the loans not exceeding $3500. Why am I getting a bill stating that I am having to pay for my summer classes? Shouldn't my stafford loan be covering them?
It depends on how your loan funds were disbursed. If the entire $3500 Stafford loan was disbursed between the Fall and Spring semesters then you would not have a pending disbursement for the summer. If you would like a financial aid officer to take a look at your account please contact us at financialaid@gvltec.edu
ReplyDeleteThank you for your question!
do i need an appointment to come in if not what day and time seem to be the best
ReplyDeleteUnfortunately we are not accepting appointments during the months of July and August due to the high volume of student traffic. However, I would recommend coming first thing in the morning...(the line forms before 8am) or after 5 pm. As always, if you had a question we may be able to answer over e-mail which would save you a trip into our office.
ReplyDeletePlease contact us at financialaid@gvltec.edu
Thank you for your question!
I'm just finished my first semeser (summer 09) and I waived the FAFSA and accepted lottery funds because I already have a BA. Do I need to reapply to recieved fall 09 funds or will I just automatically recieve a FA award letter? And if so, when do those go out?
ReplyDeleteThanks!!
I'm currently a student a GTC and completing my first semester. I already have a BA so I waived the FAFSA form and accepted lottery assistance. Do I need to reapply for fall 09 or will I automatically receive a FA award letter? and if so, when do those go out? Thank you so much!!
ReplyDeleteHi Erin,
ReplyDeleteYou would need to submit an additional FAFSA waiver form for 2009-2010. We have the documentation in place for your Bachelor degree so we would not need to see additional verification of that, however we would need to have the FAFSA waive form on file for the upcoming academic year before we can award you lottery funds. You can submit a FAFSA waiver at the financial aid office.
Thank you for your question!
I just received an award letter this week. I have declined the loans and will be returning the award letter to the financial aid office. The only load I wanted was the lottery aid, but I understand that award letter will not be sent until a few days before the start of fall semester. However, payment is also due around that time. If I go ahead an pay it all now, will I simply get a refund check in the mail a few weeks after term starts?
ReplyDeleteYou are correct. If we transfer an award to your account at the Business office and you have already paid the tuition bill, then they will generate a refund check and mail that back to you.
ReplyDeleteThank you for your time and your question!
I was reading through the comments and noticed people talking about first and second disbursement checks. Do you give loan refunds at two different times during the semester. This is my first year so I wasnt sure about that.
ReplyDeleteAlso, when does this information regarding student loans actually go to the lender I chose? I check their site but there has been no updated information on me yet.
Thanks!
The student loans that we administer are disbursed in two separate disbursements. If you receive a loan over a Fall/ Spring loan period, then you will receive one disbursement each semester. if you receive your loan in only one semester, then we are required to split the loan into two separate disbursements within the same semester.
ReplyDeleteOnce we process your loan we send the information electronically to your lender. It typically takes about 4-6 weeks to process a loan once your award letter is turned into our office.
Thank you for your question!
If our unofficial award letter states that we get X amount in loans, and we accept all of them, is it possible to end up NOT getting the loans?
ReplyDeleteI returned my Fafsa late and know that it is going to take longer to process for disbursement, and I have received loans in the past from SC Student Loan Assoc., I just wonder if they actually "decline" loans after you've been told you would have X amount available? For some reason I'm sitting on edge worried that for some reason my loans will be declined, even though I've been approved in the past, and when it's finally all processed I won't receive my checks.
There are numerous criteria we look at when we certify a student loan. For the sake of simplicity, I will note that as long as you are registered for a minimum of 6 credit hours, are eligible under the Satisfactory Academic progress guidelines, and have not exceeded the aggregate loan limit then you should be eligible for a student loan. If you receive loans on your award letter that means that you are eligible. Sometime the amounts are reduced or changed based on the amount of grant/scholarship aid you receive. Student loans are not based on credit, so there is not an underwriting decision that must take place. If you have a specific question feel free to contact our office at financialaid@gvltec.edu.
ReplyDeleteThank you for your comment!
My financial aid awards have been adjusted slightly since the beginning of the 2009-2010 academic year. I did receive, sign, and return the award letter mailed to me prior to the beginning of the Fall semester. Do I have to sign and return another one for the Spring semester, since the amounts of certain awards have been increased? If so, will I be receiving a copy in the mail, or am I to print a copy from my Campus Cruiser to return to the FA office?
ReplyDeleteHi Soulsoprano,
ReplyDeleteAs long as you are not intending to make changes to your student loans, you will not need to return an additional award letter. The initial award letter you turned in will be sufficient to award you financial aid in the Spring 2010 semester.
Thank you for your comment!
I signed up for classes this summer and sent my FAFSA for the academic year of 2010-2011. I just realized now that I should have completed the FAFSA for 2009-2010 year. Is it too late to get any financial assistance, if I want to start my classes this summer and fill out the 2009-2010 fafsa also??
ReplyDeleteHi mercedes,
ReplyDeleteIt is not technically too late. There is still time to submit your FAFSA and potentially get everything completed before your classes begin. Once you submit the FAFSA, give it about 3 days and then we should have your application. From there, we will let you know if any further documentation is required to complete your file and award you financial aid.