Financial Aid
Several types of Financial Aid are available to students at Gretna Career College, but students must apply in order to receive aid. To apply for financial aid, the student must fill out a Free Application for Federal Student Aid (FAFSA) which is available in the college Financial Aid Office or in any high school counseling office.
The staff at Gretna Career Collegeis available to assist students in applying for financial aid. The financial aid "year" runs from July 1 of one year to June 30 of the next year. Crossover students must apply each financial aid year they attend school. The FAFSA determines eligibility for the following programs:
FEDERAL PELL GRANTS are federal grants which do not have to be paid back. The maximum grant is $4310 for the program year 2007 to 2008. The maximum PELL for shorter programs is prorated according to the length of the program.
ACADEMIC COMPETITIVENESS GRANTS are for undergraduates who have graduated from an academically rigorous high school program after January 2005 and who are currently enrolled in a
degree program. Eligible ACG recipients receive $750 during the first academic year. ACG recipients must have completed a minimum of 53.0 quarter credits with a CGPA of 3.0 to be eligible for the $1300 ACG award during the second academic year. These are grants that do not have to be paid back.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (FSEOG) are for undergraduates with exceptional financial need – that is, students with the lowest Expected Family Contribution (EFCs) – and gives priority to students who receive Federal Pell Grants. An FSEOG does NOT have to be paid back.
What is the difference between the FSEOG and Federal Pell and Academic Competitiveness Grants?
PELL GRANTS/ACADEMIC COMPETITIVENESS GRANTS: The US Department of Education GUARANTEES that each participating school will receive enough money to pay both Pell Grants and Academic Competitiveness Grants for its eligible students.
FSEOG: Each award year, the school is allocated a specific amount of FSEOG funds. FSEOG is awarded based on the funding level and availability of funds at each school. Funds MUST be made available to students throughout the entire award year. There is NO GUARANTEE that every eligible student will be able to receive an FSEOG.
According to regulations published in the US. Department of Education Student Financial Aid Handbook, FSEOG must be available to disburse to needy students throughout the Award Year. The school is allowed to establish categories of students to be considered for FSEOGs as a means of administering its packaging policies. The school has defined its “first selection group” to be independent students with a zero EFC enrolled full time in an eligible program. The “second selection group” has been defined as dependent students with a zero EFC enrolled full time in an eligible program. The “third selection group”has beendefined as Pell eligible with EFCs greater than zero who are enrolled full time in an eligible program. Funds must be disbursed to eligible students in the “first selection group” before funds may be disbursed to eligible students in the “second or third selection groups.” If FSEOG funds are available, funds will be subsequently disbursed to these students based on the lowest EFCs. The dollar amount of funds to be awarded is left to the discretion of the school’s Financial Aid Administrator. The school determines if the award is to be credited to your account or paid directly to you. There is no requirement to reserve funds for eligible students who have late applications.
FEDERAL WORK-STUDY is a program that allows students to work while they go to school. FWS students are compensated at or above federal minimum wage. Each award year, the college is allocated a specific amount of funding to be used through out the year. Positions are available at Gretna Career Collegeand some nonprofit agencies.
SUBSIDIZED FEDERAL DIRECT STAFFORD STUDENT LOANS are needs-based loans that allows students to borrow money for educational expenses. The Direct Stafford Subsidized Loan, as all loans, must be paid back. Gretna Career Collegestrongly encourages students to limit the amount they borrow. All students must attend a Gretna Career College loan advising session before applying for a student loan. Loan forms are available in the Financial Aid Office. The maximum federal subsidized loan amount is $3500 for first time student enrollment. The interest rate has been fixed at 6.8%. The maximum loan amounts for shorter programs are prorated according to the length of the program.
FEDERAL DIRECT UNSUBSIDIZED STAFFORD LOANS are loans for the students who either must borrow more than the maximum Subsidized Stafford in order to satisfy tuition and fees or the students who do not qualify for other types of financial aid. The Federal Direct Stafford Unsubsidized Loan, as all loans, must be paid back. Information on this loan program is available in the financial aid office.
FEDERAL DIRECT PLUS LOANS are available to parents of eligible dependent students who need to borrow more than the maximum Federal Direct Stafford Loan. Parents of dependent students MUSTapply for the PLUS loan. If the parent is denied the PLUS loan, the dependent student becomes eligible to borrow a Federal Direct Unsubsidized Stafford Loan. If a parent declines to apply for a PLUS loan, the student is obligated to make arrangements to make cash payments for the amount of tuition and fees NOT covered by the Federal Direct Subsidized Stafford Loan.
PLEASE NOTE: This institution participates in both the William D. Ford Direct Lending and the Federal Family of Education Loans (FFEL) Programs. This institution does not participate inthe Federal Perkins Loan Program.
LOUISIANA LEVERAGING EDUCATIONAL ASSISTANCE PARTNERSHIP (LEAP): The state of Louisiana allocates LEAP funds to Gretna Career Collegeat the beginning of each award year. The number and amount of grants available is determined by GCC’s allocation. LEAP grants are to be disbursed to students with a current FAFSA on file. These funds are extremely limited.