1. What is the Gordon Financial Aid Supplemental Form?
2. What is verification?
3. What if I have a special circumstance that has affected my financial situation?
4. What is the EFC (Expected Family Contribution) and how is it calculated?
5. What additional information do I need to provide the Student Financial Services Office?
6. How can I get in contact with Student Financial Services?
Wednesday, November 18, 2009
Applying for Aid
How Do I Apply for Financial Aid?
Gordon College is a need-blind institution. This means that the College does not consider financial need when making an admissions decision. Please submit all required financial aid applications and documents as early as possible so that the Student Financial Services Office can quickly communicate your financial aid award to you upon your acceptance.
For Incoming Students:
Gordon College is a need-blind institution. This means that the College does not consider financial need when making an admissions decision. Please submit all required financial aid applications and documents as early as possible so that the Student Financial Services Office can quickly communicate your financial aid award to you upon your acceptance.
For Incoming Students:
- The Free Application for Federal Student Aid (FAFSA) is needed no later than March 1, 2009 (and no earlier than January 1)
School Code: 002153
Gordon College verifies 100% of all incoming students' financial aid information reported on the FAFSA. Therefore, we encourage students to estimate the information on the FAFSA (if necessary) with the understanding that Student Financial Services will make necessary corrections upon receiving the following required documents:
· Gordon's Financial Aid Supplemental Form
· Gordon Verification Worksheet
· Signed copies of parents 2008 federal tax returns (include all schedules and forms)
· Signed copies of students 2008 federal tax returns (include all schedules and forms)
· Copies of parents 2008 W-2's
· Copies of students 2008 W-2's
*Please submit tax forms and W-2's directly to the Student Financial Services office.
*Please contact Student Financial Services if you are not required to file a U.S. federal income tax return.
For Returning Students Applying for Aid 2009-10:
- Scholarship and Aid Renewal Application
- Free Application for Federal Student Aid (FAFSA)
- Respond to Student Financial Services requests for additional information.
Additional information could include:
· Signed copies of parents 2008 federal tax returns (include all schedules and forms)
· Signed copies of student's 2008 federal tax returns (include all schedules and forms)
· Copies of all parents 2008 W2's
· Copies of all student's 2008 W2's
· 09-10 Gordon Verification Worksheet
All documents must be submitted by April 16, 2008. Late applicants may receive reduced funding.
Action List
- Apply for a PIN number
A signature is required as soon as possible from both the student and parent to complete the Free Application for Federal Student Aid (FAFSA). A Personal Identification Number (PIN) allows you to electronically sign the FAFSA and the Master Promissory Note (required for a Federal Stafford Loan). The student and parent need to have their own separate PIN to complete the FAFSA. For further information, please check this FAQ. - Complete the FAFSA Application
After January 1st the FAFSA is required to apply for any federal, state, and institutional need based aid which include:
· Stafford Loans
· Federal Pell Grant
· Academic Competitive Grant
· Federal Supplementary Education Opportunity Grant
· Federal Perkins Loan
· Federal Work Study
For further information, please check this FAQ. - Send in Verification Worksheet and Gordon's Financial Aid Supplemental Form.
· Signed copies of parents 2008 federal tax returns (include all schedules and forms) and W2's.
· Signed copies of student's 2008 federal tax returns (include all schedules and forms) and W2's.
· Gordon Verification Worksheet for:
o Dependent Students
o Independent Students
· Any additional documents upon request from Student Financial Services.
Verification is a quality-control method used by the U.S. Department of Education to check the accuracy of information submitted on the FAFSA. All schools that disburse federal Title IV funds are required to participate in the verification process. Gordon College verifies all new incoming students applying for financial aid. All students and their parents need to send Gordon College's Student Financial Services - You can also check these other sources for available aid from outside agencies:
· Search Other Sources
· Military Information
· Scholarship Search
Financial Aid Calendar
December-January
- Collect tax information to complete FAFSA (Free Application Federal Student Aid).
- Complete the FAFSA form available on-line after January 1 (Gordon Code is 002153).
- Watch for Financial Aid Nights for latest information and to ask individual questions.
- Non- U.S. Citizens only : Send the International Student Financial Aid Application to Gordon College.
January-February
- Complete FAFSA.
- Complete State Financial Aid Application (only CT, DE, MA, ME, NH, PA, RI, VT).
- Complete Gordon College Financial Aid Supplemental Form.
March 1
- Processed FAFSA due in Student Financial Services Office.
- Send in signed copies of both parent's and student's 2008 federal 1040 tax returns complete with all schedules, forms and W-2s.
- Send in 09-10 Verification Worksheet.
- Return all verification documentation requested by Student Financial Services.
April 1-15
- New students who meet Gordon's deadline should receive financial aid notification.
May 1
- Non-refundable $250 admission deposit due in order to hold financial aid award and housing.
June-August
- Students will receive estimated fall semester bills.
- Inquire about payment options: payment plans, private loans.
- Complete Application process for Stafford Loans.
August
- New Student Orientation
What to do Next with Financial Aid
It’s Meg again. Financial aid can be daunting and it was for me initially, but Gordon makes it really easy to navigate and they’re great to work with. Here are a few things to help you along your way. And if you get stuck, let us know. We’re here to help. sfs@gordon.edu
Tuesday, November 17, 2009
Work Study and Employment Opportunities
What is Work-Study and how do I apply for it?
Work study provides jobs for students who have financial need and are another way to help students finance their education. In order to receive this benefit, you’ll need to fill out a FAFSA (Free Application for Federal Student Aid) and you can get this application at www.fafsa.ed.gov.
In 2008 students earned just under $1 million with on-campus jobs through this program. The average Federal Work Study (FWS) award for financial aid is $1,700, although this is not a limit as students may earn more than this amount. Students without FWS may also apply for jobs on and off-campus.
If you have any questions, email Student Employment.
Sidebar: photo journal of students who’ve received work study, pictures at their jobs and a short description with each job
Work study provides jobs for students who have financial need and are another way to help students finance their education. In order to receive this benefit, you’ll need to fill out a FAFSA (Free Application for Federal Student Aid) and you can get this application at www.fafsa.ed.gov.
In 2008 students earned just under $1 million with on-campus jobs through this program. The average Federal Work Study (FWS) award for financial aid is $1,700, although this is not a limit as students may earn more than this amount. Students without FWS may also apply for jobs on and off-campus.
If you have any questions, email Student Employment.
Sidebar: photo journal of students who’ve received work study, pictures at their jobs and a short description with each job
Awarded Loans
Federal Stafford Loan--Subsidized & Unsubsidized
All students are eligible to receive a Federal Stafford Loan as long as they have not previously defaulted on a federal loan. A subsidized loan is based upon demonstrated financial need. The federal government pays the interest while a student remains enrolled at least half-time and during the grace period. The interest rate for loans disbursed during the 09-10 academic year is 5.6.%. An unsubsidized loan is awarded to students who do not qualify for the need-based subsidy and to independent students. The federal government does not pay the interest on the unsubsidized loan as the student may choose to pay the interest as it accrues or have it added to the principal balance on a quarterly basis. The interest rate is fixed for the life of the loan at 6.8%.
Loan Limits for 2009-10:
All students are eligible to receive a Federal Stafford Loan as long as they have not previously defaulted on a federal loan. A subsidized loan is based upon demonstrated financial need. The federal government pays the interest while a student remains enrolled at least half-time and during the grace period. The interest rate for loans disbursed during the 09-10 academic year is 5.6.%. An unsubsidized loan is awarded to students who do not qualify for the need-based subsidy and to independent students. The federal government does not pay the interest on the unsubsidized loan as the student may choose to pay the interest as it accrues or have it added to the principal balance on a quarterly basis. The interest rate is fixed for the life of the loan at 6.8%.
Loan Limits for 2009-10:
- $5,500--($3,500 can be Subsidized) Freshmen
- $6,500--($4,500 can be Subsidized) Sophomores
- $7,500--($5,500 can be Subsidized) Juniors, Seniors, 5th Year
Independent Students may receive additional unsubsidized Stafford Loan funds. (These additional funds are also available to students who do not have access to the parent PLUS Loan. This typically occurs when a parent is denied for the PLUS Loan. See Other loans.)
- $4,000--Freshmen & Sophomores
- $5,000--Juniors, Seniors, 5th Year
Perkins Loan
The Perkins Loan program is a college-administered program which uses combined funds from the federal government and the College. Perkins loans are intended to complement the federal Stafford Loan and not serve as a replacement. The Perkins Loan program is designed for students who demonstrate a high level of financial need. The interest rate is fixed at 5% and the student is not responsible for interest that accrues while enrolled at least half-time (6 credit hours or more) or during the nine month grace period. The grace period begins upon graduation or when a student drops below half-time enrollment.
Apply for a Perkins Loan
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