Finanical Aid Programs for Adult Students
INSTITUTIONAL PROGRAMS
Joseph M. Bryan Memorial Scholarship
This scholarship is awarded to Guilford Technical Community College students transferring to Greensboro College. The amount of the scholarship varies but does not to exceed half tuition and fees. Recipients must maintain a 2.5 cumulative grade point average or better to be eligible to apply. For more information, contact Professional & Graduate Studies.
Margaret Umberger Holton Scholarship
This scholarship is awarded to Adult Education Program students who transfer to Greensboro College from area community/junior colleges. Students must intend to major in business, accounting, or teacher education. For more information, contact the Adult Education Office.
STATE PROGRAMS
North Carolina Legislative 'Tuition Grant (NCLTG)
A state-funded entitlement program awarded to full-time North Carolina residents attending private colleges and universities in the state. You must be enrolled for at least 12 credits each term to receive the grant. For the 2009-09 academic year, the annual amount of this state grant was $1,950. Students must complete state forms to verify state residency with the College. Funds WILL NOT be released to the student account until the money is received from the state (i.e. early November for Fall semester and late March for spring semester). NCLTG funds are not available for summer.
FEDERAL PROGRAMS
These programs, funded or provided by the federal government, are based strictly on eligibility as determined the results from filing the Free Application for Federal Student Aid (FAFSA).
Federal Pell Grant
This federally funded program provides grants to undergraduate students who demonstrate eligibility according to a standardized formula created by Congress. The information is gathered from the filing of the Free Application for Federal Student Aid (FAFSA). The amount of the grant for 2009-10 ranges from $976 to $5350 (for the year) depending on the student's demonstrated eligibility and the level of enrollment.
Federal Subsidized Stafford Loan
This is a long-term loan program available to students who demonstrate need as determined from filing the federal form (FAFSA). The principal is deferred and the interest is paid by the government on subsidized Federal Stafford Loans while the student is enrolled at least half time. Repayment of principal and interest begins six months after the student graduates or ceases to be at least half-time. Borrowers have up to 10 years to repay the loan.
Federal Unsubsidized Stafford Loan
This is a long-term loan available to all students regardless of family income. The principal is deferred as long as the student is enrolled at least half time, but not the interest. The student is responsible for paying the interest during periods of enrollment, or they may choose not to pay and have the interest accrue and capitalized.
The maximum amount that a student may apply for in the Federal Stafford Loan Program regardless of whether it is the Subsidized, the Unsubsidized, or a combination of both is determined by the student's class standing. The following maximums apply to either or a combination of both Stafford Loan programs:
Freshman - $3,500
Sophomore - $4,500
Junior/Senior - $5,500
Additional unsubsidized loan amounts for "independent" students or if a Plus Loan (for a parent of a dependent student is not approved) are as follows:
Freshman/Sophomore - $4,000
Junior/Senior - $5,000
Please remember that the loan amounts listed on your Award Notification are your loan obligation amounts. There will be a 3% origination fee on all Federal Stafford Loan programs. This fee deduction complies with federal regulations. The net amount will be disbursed to the College equally divided between the semesters of attendance and credited to your student account.
LOANS
Greensboro College participates in the Federal Family Education Loan Program (FFELP).
The Loan Process
The Greensboro College Financial Aid Office strives to provide quality loan servicing through the use of the most advanced technology available.
Following the steps below will help to insure your student loan is processed quickly and efficiently. Failure to follow these procedures will cause a delay in the processing of your loan which will prevent your funding arriving to the College on time.
- Your official Award Notification will indicate the amounts and types of Stafford loans for which you are eligible.
- Once we receive your Signed Award Letter, we will electronically certify your loan eligibility to your lender.
- Your lender will process your loan application once they receive a completed, signed promissory note. Your loan will be disbursed in two equal installments, one for the Fall semester and one for the Spring. The funds will not be released until after the drop/ add period; and will post to your student account.
Choosing a Lender
Participating in the Federal Stafford Loan Program represents many important decisions for the student. One of these is the selection of the lender that will be associated with you throughout the life of the loan. To make the selection of your lender easier, the list below provides the lender resources recommended by the Greensboro College Financial Aid Office. We have chosen to list these resources because of their proven ability to provide quality service and efficient processing of applications. Greensboro College has always recommended lenders based on their service to our students and the institution and has never accepted inducements of any form from any lender. Students may choose any lenders they wish. Because there are thousands of lenders in the United States, providing a list of lender resources may make it easier for students to decide. Federal lenders are required to follow the same Federal regulations.
LENDER RESOURCES
If you have previously borrowed a Stafford Loan we recommend you use your previous lender.
Entrance Counseling
This is a mandatory requirement set forth by the Federal Government. Entrance Counseling must be completed before a student's Federal Stafford Loan is processed. The counseling goes over the student's rights and responsibilities of the Federal Stafford Loan.
Exit Counseling
This is a mandatory requirement set forth by the Federal Government. Exit Counseling must be completed before a student graduates or withdraws from Greensboro College. The counseling goes over the student's rights and responsibilities of paying back on their Federal Stafford Loan.
Students can also apply for an Alternative Loan. Unlike the Stafford Loan, Alternative Loans are credit based and require a co-signer. We use one preferred Alternative Loan Program. You can apply online at www.nationaleducation.com or stop by the Financial Aid Office for an application. Like the Stafford Loan, you cannot exceed your total cost of education.
Cost for Adult Education
The current cost for 2009-10 for adult education students is $300 per credit hour. There is a $60 per semester fee.
Financial Aid Office
Greensboro College
815 West Market Street
Greensboro, NC 27401-1875
(800) 346-8226
(336) 272-7102 ext. 217
(336) 230-9622 [Fax]
finplan@greensborocollege.edu
