Book Vouchers and a New Year

Happy 2010! A new year brings a new semester and that means spring registration. Classes have already started and hopefully you are all in the swing of things. Just a few quick points about this semester:

• Book vouchers are now available for print through January 22, 2010. If you are having trouble printing your book voucher, you may need to come into the office and a financial aid officer can assist you in obtaining your book voucher.
• If this is your first semester and you are just now submitting your FAFSA, be sure to check back with us to verify that we have all of the information we need to complete your FAFSA.
• If you are selected for verification, we will send you a letter notifying you of the documents we need. please be sure to return with all of the requested documents. This will allow us to process your FAFSA in the quickest manner possible.
• If you are receiving student loans for the very first time here at GTC, be sure to complete a session of Entrance Loan Counseling at: http://mappingyourfuture.org/FAP/ and also complete a Master Promissory Note with your chosen lender

These are the high points for right now. As always, if you have any specific questions, please feel free to leave a comment and we will get back with you as quickly as possible.

What Do I Do Next?

Registration for the 2009 Fall semester started last week and student traffic in the financial aid office is beginning to increase. We have seen a huge increase (already 34%!!) in the number of FAFSA applications that are sent to our office and we anticipate that this will equate to an increase in the number of students who receive financial aid in the next academic year. Since many of you have already applied for financial aid and many of you have already received an award letter from us, I wanted to tackle the topic of: “What to do now?”

You submit your FAFSA early; you complete your verification; you receive your award letter back in the mail; you accept all of your financial aid and complete your promissory note and entrance loan counseling so you will be able to borrow a student loan; you register for your classes; you are now done with all of your necessary steps and cannot wait to begin your classes……but what do you do next?

Many students decide to use a book voucher which allows them to purchase their textbooks using an advance on their financial aid awards. If you have completed your financial aid you should have a book voucher available to you when they begin on August 12 at 10:30 AM immediately after Convocation.

Many students who receive financial aid rely solely on financial aid to cover their tuition bill. If you have registered for classes for the Fall 2009 semester you have already received a billing statement from our Business Office. This statement serves to inform students that 1.) They have an outstanding tuition bill because they registered for classes and 2.) If students do not have confirmed financial aid then they will need to make plans to pay for their tuition by the dates specified on the billing statement. If you have submitted an award letter back into financial aid accepting your awards, this means you have confirmed financial aid. We will transfer financial aid awards to the Business Office in the beginning of September and pay off your tuition bill if you have sufficient financial aid to cover your tuition bill.

So, if you have completed all of these steps then a “Congratulations!” is in order. You can now sit back, relax, and prepare your mind for your Fall classes.

The Importance of Financial Aid

It seems like every time we switch on the news all we hear about are more lay-offs, another bad day on the stock market, another swindler stealing billions more of our hard earned money, or another sign that we are spiraling downward, further into a recession. This might not seem like encouraging news, especially first thing in the morning, but with the current state of our economy, financial aid has become more important than ever.

Financial aid may have the reputation of being only for those who do not make any money or for those who only want to take out student loans, but in reality we have a lot more to offer. We do have numerous programs, such as the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant, Federal Work Study and the SC Need Based Grant that are based on a student's financial need. However, we also offer the SC Lottery Tuition Assistance which is not income contingent. In addition to grants we administer hundreds of scholarships every year. Many of these are awarded through the GTC Foundation. Many other scholarships are awarded by organizations from around our community.

If you have sought out all of the grants and scholarships that you are eligible for and still have a need for additional funds, we do offer loans through the Federal Stafford Loan Program. These loans have low interest rates between 6.0%-6.8% and you can defer the payments until 6 months after you graduate.

The most important piece of advice I would offer concerning financial aid is simply to apply! By not applying you virtually erase any chance of receiving any sort of financial aid. You can complete an application at www.fafsa.ed.gov .

If you have any specific questions please refer to other posts on this blog where I have tackled various financial aid programs and offered numerous hints and tips on how to make your financial aid experience the best it can be.

As always, please contact us at financialaid@gvltec.edu with any additional questions!

A Week of Rest

Next week, June 29-July 3, Greenville Technical College will be closed. It will be a great opportunity for the entire college to get rested and rejuvenated before the rush of the Fall semester begins. As students, you can also take this week to be proactive with your financial aid.

• If you have not submitted a FAFSA for 2009-2010 you should do so next week. You can go to www.fafsa.ed.gov to complete one.
• If you have submitted your FAFSA and have gotten a request back for more information, please gather those documents and return them to our office on July 6th.
• If you have gotten an award letter for the 2009-2010 academic year, please sign the letter and return it to our office on July 6th.
• If you have any questions regarding your financial aid awards please consult our website at http://www.gvltec.edu/financial_aid/ . There is a wealth of information available here that should answer most of your questions.
• If you would like to take out student loans and have not received them in the past, please complete an entrance loan counseling session at http://mappingyourfuture.org/ and a promissory note with your lender.

Hopefully these quick tips will help you get ahead while the college is closed. When we return on July 6th, we do anticipate an increased volume of student traffic. With that in mind, please strive to make every trip to the financial aid office productive. Make sure you have all of the requested documentation with correct signatures. Please make sure you know what questions you would like to have answered so you can avoid return trips.

Overall, we are excited about entering into Fall registration. We have a full staff this year who are ready to serve you. We have made some changes in financial aid over the past year that are intended to make your financial aid experience much more efficient and effective.

As always, if you have any questions, please contact the financial aid office at 864-250-8128 or financialaid@gvltec.edu .

Let us know how we can serve you!

FAFSA Made Easy!

Adventures in Education, is a non profit public service program that helps students plan and complete their journey through higher education. They have developed a series of video guides that will walk you through the FAFSA process.

If you are like me and learn much better through visual teaching, this video series may give you the confidence you need to start and complete your FAFSA.

Here is the link to the video series:

http://www.aie.org/FAFSAMadeEasy/videoarchive_english.cfm

As always, you can complete the FAFSA online anytime for FREE at

www.fafsa.ed.gov

For Greenville Tech Financial Aid info. please visit our website at:

http://www.gvltec.edu/financial_aid/

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. 

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!