Disbursement of Financial Aid Policy
General Information
1. Student must be enrolled before funds may be disbursed.
2. Student eligibility must be confirmed by the Financial Aid Office before funds are disbursed.
3. Students are expected to have sufficient funds for miscellaneous expenses when they arrive on campus.
4. Students who are eligible for Federal financial aid must have submitted a valid Student Aid Report in electronic form to the Financial Aid Office before funds are disbursed.
5. Students must be fully accepted for admission to GC before funds may be disbursed.
6. Specific questions on individual cases should be addressed to the Financial Aid Office at (478) 445-5149.
Loans (Students must be enrolled at least half-time.)
1. Federal Perkins Loan - Students awarded this loan must sign a promissory note in the Student Loan Collections Office located in Parks Hall, before funds may be disbursed.
2. Federal Stafford Loans - Under Federal Law: Students must complete Loan Entrance Counseling session and a Master Promissory Note (MPN) before funds may be disbursed.
3. Federal PLUS Loan - Parents who are awarded this loan must receive an approved credit decision from the lending agency and complete a promissory note before funds may be disbursed. Remaining proceeds from the PLUS loan after the student's bill is paid in full, will be disbursed to the student.
4. Federal Perkins, Federal Stafford, Federal PLUS Loans - Borrowers who use these funds to finalize Business Office bills may elect to cancel their loans and use another form of payment within 14 days of disbursement. The Financial Aid Office must be notified in writing of the cancellation within 14 days of disbursement.
Disbursement Procedures
Once all requirements have been met:
1. Funds awarded from the following may be applied directly to the student's Business Office account:
| Grants | Loans |
| Federal Pell | Federal Perkins |
|
Other Federal Grants |
Federal Family Education Stafford |
| HOPE Scholarship | Federal Direct Loans |
2. These awards will be authorized to the student's Business Office account once classes have been reserved.
3. Any remaining balance to the student's account must be paid to the GC Business Office prior to the published deadline in order to reserve classes.
4. Eligibility is reviewed again at the end of the drop/add period (census date), and appropriate funds are disbursed to the student's Business Office account.
5. Once the Business Office bill has been settled, remaining aid with the exception of the HOPE Book Allowance, which is released in a check, may be used toward the purchase of books at the GC PawPrints Bookstore beginning approximately 3 days prior to the first day of classes through the end of the drop/add period.
6. If the amount of financial aid awarded, excluding the HOPE Book Allowance, exceeds tuition and fees due at registration, the difference will be disbursed in the form of a check by the GC Business Office, 111 Parks Hall, approximately 7 days after the end of the drop/add period. HOPE Book Allowance checks will be sent to the student's mailing address approximately 1 week prior to the first day of classes, provided that all fees owed to the Business Office are paid in full. Subsequent HOPE Book Allowance checks will be cut in the regular scheduled check runs.
7. Students who use personal funds to pay for tuition and fees may receive reimbursement checks from the GC Business Office approximately 7 days after the end of the drop/add period.
8. Financial aid awards made after the student's bill is satisfied will be disbursed within 10 days after awards are made.
9. All refund checks can be picked up at the Business Office with Bobcat Card Identification. Request forms for mailing checks are also available through the Business Office.
