Financial Aid FAQ's
At this time you must use our OPEID instead of our school code to esign your MPN. That number 005273. Once you type this number in, the computer will let you esign. 1025 Amsterdam Road; Covington, KY 41011 Monday thru Thursday Gateway Community and Technical College school code is 013753 [This code is for all campus locations]. Federal financial aid recipients must meet all general eligibility requirements: At this time you must use our OPEID instead of our school code to esign your MPN. That number 005273. Once you type this number in, the computer will let you esign. Usually you must take at least 6 credit hours. In a few cases students may receive Pell Grants with less than 6 credit hours. To be considered for student loans, KEES, or CAP Grant, you must be enrolled in at least 6 credit hours. Yes, up to a total of 30 developmental credit hours. You must then enroll in an eligible program to continue financial aid eligibility. Yes -- Unless you have anticipated aid that covers your charges. To ensure that your financial aid is approved in time to meet payment deadlines, you must apply with the Federal Student Aid Central Processing Center [list our school code (013753) for all campus locations] at least two weeks before the payment deadline for each semester. Late submission of your financial aid application and requested documentation may result in you having to pay for your classes out of pocket until your eligibility can be assessed. Please be prepared to pay for books and supplies using resources other than financial aid. HOWEVER, because aid disbursement cannot occur until approximately 3 -4 weeks into the semester, the Barnes & Nobles campus bookstore locations will allow students to purchase books and supplies on credit, if you have enough “anticipated” aid for the semester. This is for a limited time frame each semester, please see chart below: It often does. Financial aid disbursements are reviewed at FA Census dates and after Satisfactory Academic Progress evaluation. For more information, see the Consumer Information guide, “Standards of Academic Progress” section – available on the web or get a copy from the Financial Aid Office. These standards tell you what is expected academically to continue on financial aid. If you are appealing your satisfactory academic progress, while in appeal status, you must be prepared to pay your tuition and books. PLEASE NOTE: If you completely withdraw or receive all failing grades, a portion of your aid for that term must be repaid before you can receive further financial aid funds. To earn 100% of your financial aid, you must be enrolled through approximately 60% the term. These dates will vary if you are enrolled in multiple sessions during the semester. No. Students must participate in academic activity in order to qualify for receipt of financial aid funds. If you are reported by one or more of your professors as a “no show”, your financial aid will be returned and you will be responsible for any tuition expenses incurred for the term in question. Maybe, Gateway participates in the Federal Work Study Program. You must have applied for financial aid and demonstrate unmet need to qualify. You may be eligible for work-study even if you did not receive a Pell Grant. Federal Work Study (FWS) funds are limited. Please check with the Financial Aid office regarding FWS eligibility and/or procedures. Complete the Free Application for Federal Student Aid (FAFSA) and answer YES to the question about your interest in student loans. For Summer term, the GCTC Summer Financial Aid Application is also required, in addition to the FAFSA. We will assess aid eligibility & send you a Financial Aid Award Notification letter based on your response to questions asked on the application(s). When you receive your award letter, you MUST respond indicating ACCEPT/ REDUCE/ or DECLINE of this loan offer. You must meet all general eligibility criteria to qualify for a student loan. If you are transferring mid-year (for example: Fall at NKU and Spring at GCTC), you must have your FAFSA data sent to GCTC by listing our school code, 013753, in the school choices section. A valid Master Promissory Note must also be signed using our OPEID of 005273. That the federal government wants us (the school) to “verify” that you completed your form correctly. The Financial Aid office must collect additional documentation from you to complete the verification process. Generally during non–peak periods, it takes one to two weeks for us to review and complete the verification process. If we determine that corrections need to be filed, it can take longer. During peak periods (July-August), it will take longer for this process to be completed. Once verification is complete, the FA office will send you a Financial Aid Award Notification letter. The College Access Program (CAP) grant is awarded through the Kentucky Higher Education Assistance Authority (KHEAA) to qualifying Kentucky residents. Your FAFSA application will automatically place you in the applicant pool for the CAP grant. This grant is awarded first come, first served until the funds are exhausted. With this in mind, please submit your FAFSA by the priority filing date of March 15 will increase your chances of receiving this grant. No. You must first have your FAFSA data sent to GCTC so we can electronically access your file to begin processing for financial aid application. You can do this by calling the CPS Federal Student Aid Processing Center at 1-800-433-3243 or by going online at www.fafsa.ed.gov,, and enter the appropriate school code: 013753. To do this by phone, you will need your DRN number (located on your SAR): to do this online, you will need your PIN number. You can apply for a PIN number at www.pin.ed.gov.. Refund checks are the result of excess payments applied to student account charges (tuition, fees, book charges, etc). This may happen if you have financial aid disbursements are more than your institutional charges (tuition, fees, and books). If there are any funds left after all institutional charges have been met, your account will have a credit balance so a refund check can be processed. Our first batch of financial aid disbursements typically does not happen until approximately three weeks into the semester. Refunds are only processed on Wednesday evenings with the actual printing of checks being done on Thursdays for mailing on Fridays. Paper checks are mailed directly from a contracted agency in Atlanta, GA and are mailed to the address that is on file for you within the college’s processing system. Disbursements are ongoing throughout the semester as files are completed. Funds that have posted to your student account & result in a credit balance by Wednesday are usually mailed out within 14 business days. You may check your student account for charges and payments by following the instructions on the web under the category “Cost & Finances”, “Tuition & Fees”, “Payment Information”. SAP is an acronym that stands for Satisfactory Academic Progress. In order to continue receiving federal financial aid, you are required to maintain satisfactory academic progress as outlined by school policy. Generally our policy requires that you maintain a 2.00 cumulative grade point average (a C average) and pass 67% of the courses you attempt. Grades coded as W, I, E, F, MP, and AU count as courses attempted but NOT passed. You are also required to complete your educational credential within the maximum time frame as set forth in the SAP standards. This generally equals around 90 credit hours attempted, but can vary depending on the program of study you choose. If you fail to do this, you run the risk of losing your eligibility for aid. Reinstatement procedures can be obtained from the Financial Aid Office or by reviewing the Satisfactory Academic Progress section on the website. During non-peak periods and providing your financial aid file is complete, we can process your loan application in approximately 10-14 days. After we complete our process, you will have to sign your Stafford Loan Master Promissory Note (MPN). You may complete the eMPN at www.kheaa.com (you may sign it electronically using the same Dept of Education PIN used to sign the FAFSA). KHEAA will contact you about signing this document if you have not signed or e-signed your MPN at the time we send them your loan eligibility information. Once your loan is guaranteed, usually by KHEAA, you will receive a Disclosure Statement that indicates expected disbursement dates. These are the dates that the funds are electronically transmitted to KCTCS Systems office (KCTCS runs their electronic processes once a week.) If your loan disbursement(s) creates a credit balance, refund checks are processed on Wednesday evenings with the actual printing of checks being done on Thursdays for mailing on Fridays. Paper checks are mailed directly from a contracted agency in Atlanta, GA and are mailed to the address that is on file for you within the college’s processing system. Contact to the Financial Aid Office to speak with a Financial Aid Assistant or Counselor to assist you with this often complex and confusing process. Our office hours are 8 AM to 5 PM, Monday through. Information is also available on the website at: http://www.gateway.kctcs.edu/new/financialaid/financialaid.htm or by sending an email to: gw-financialaid@kctcs.edu 1. After submitting the FAFSA, you will receive a Student Aid Report (SAR). Review the SAR for accuracy and verify Gateway is listed as one of your school choices. Whether you file your FAFSA by mail or electronically, our office will receive the results. You can now respond to your Financial Aid award letter on-line through KCTCS’s system. Go to https://students.kctcs.edu This is a secure web site (the “s” after “http” indicates this) Both the federal government and the college must find you eligible. Once your application data is received (electronically or otherwise) in the Financial Aid Office it will be reviewed to see if additional documentation is required to complete questions the federal government may have about your information. Once your financial aid file is complete, you will receive notification by mail and/or email concerning your financial aid status. Academic year award letters are generally sent out in mid-summer. Under the Finances tab, you may click on the button labeled “View Student Account”If you your circumstances have changed significantly since completing the FAFSA, please contact our office, we may be able to offer additional assistance. You may contact us by calling 859-442-1165 or by sending an email to: gw-financialaid@kctcs.edu > |