Search

EGSC Frequently Asked Questions

Financial Aid FAQ

Financial Aid FAQ


Do I need to be accepted by Admissions before I can apply for Financial Aid?

No, you do not have to be accepted before you apply for financial aid, BUT you must be accepted before your account can be awarded Financial Aid.

How do I apply for financial aid?

First, you must complete a FAFSA (Free Application for Federal Student Aid). You can get started at FAFSA.gov. If you have not created a FSA.ID log on for FAFSA, it will prompt you to create one before starting the FAFSA. If the student is under the age of 24, most likely you will be classified as a dependent student and will be required to input your parental information into the FAFSA. Once you submit the FAFSA, check your status on our status page weekly to determine if any additional documentation is needed.

What is the deadline to apply for financial aid?

The priority deadline, meaning the last day to submit all documents in order to be guaranteed award before the start of the semester is as follows:

Fall- June 1st
Spring- October 1st
Summer- March 1st

How often and when do I have to reapply for Financial Aid?

You must apply for Financial Aid yearly and as soon as yours and/or your parent(s) taxes have been processed by the IRS.  If taxes are filed electronically, the data is normally available 2-3 weeks after filing.  If taxes were filed through U.S. mail, the data is available normally 6 weeks after filing.

Am I eligible for PELL? How much PELL am I eligible for?

PELL is a need based grant that is determined by your FAFSA. If your EFC (Estimated Family Contribution) is anywhere between 0 and 5,198 you are eligible for PELL. This grant, which does not have to be paid back, is pro-rated by number of credit hours taken and total EFC. Click on the link below to see the payout chart. If you do not know your EFC, please refer to the Student Aid Report FAFSA sent to you or contact our office at 478-289-2169.
Click Here to access the 2015-16 PELL chart.

Am I eligible for Georgia’s HOPE Scholarship?

In order to be eligible, your high school MUST submit your final HS transcript to Georgia Student Finance Commission.

  • You must graduate from a HOPE eligible high school with a 3.0 using the HOPE grade point average calculation OR Complete a HOPE eligible home study program with a 3.0 using the HOPE grade point average calculation.
  • You must also Meet U.S. citizenship or eligible non-citizen requirements
  • Be a legal resident of Georgia, Be registered with Selective Service, if required
  • Maintain satisfactory academic progress as defined by the college
  • Not be in default or owe a refund due on a student financial aid program
  • Be in compliance with the Georgia Drug-Free Postsecondary Education Act of 1990.
  • Must submit a GSFAPP on gacollege411 or completing a FAFSA

Initial eligibility may be determined by checking your personal account on gacollege411.org

What are student loans and what do I need to do to get them?

Direct loans (subsidized and unsubsidized) are available to students who need additional money for school and living expenses. Most students are eligible and can receive up to 5,500 per year. Students with more than 30 hours can receive 6,500 per year. In order to qualify you must: be in good standing, not be in default, not owe any overpayments, and must have submitted all prior transcripts.

When filling out a Loan Offer Request Form, how do I figure out my GPA and Cumulative Completion Rate? What will I list if it is my first semester in college?

If you are a current EGSC Student, you can access this information on your BANNER web account. Your completion rate is you Earned hours/attempted hours. We ask this because you must have a 67% completion rate and a 2.0 GPA to receive aid. If you are coming from another institution, you can find this information on your transcript. If you are an incoming freshman, you do not have a completion rate and may put N/A in both boxes.

What is the difference between subsidized and unsubsidized loans?

Subsidized loans are where the government pays your interest while you are enrolled. Once you graduate or drop below 6 credit hours you will begin to pay an annual interest rate of 4.29%. With unsubsidized loans interest starts accruing immediately. The rate for unsubsidized loans is also 4.29%.

If I do not live with my parents, and/or support myself, can I file as an “independent”?

Many students think they are independent simply because their parents do not claim them on their tax returns, or because they moved out of the parents’ house to attend college.  This is NOT the case.
For federal student aid purposes, you are independent ONLY if at least one of the following applies to you:

  • You were born before January 1, 1992
  • You are married as of the day you complete the FAFSA
  • You have legal dependents other than a spouse, By “legal dependents,” the U.S. Department of Education generally means children for whom you provide at least 50% of the support
  • You are enrolled in a graduate or professional degree program
  • You are an orphan or ward of the court
  • You have a legal guardian that is not your birth parent
  • You are on active duty or a veteran of the U.S. Armed Forces.
Can I apply for a Parent PLUS loan?

No, if you are a dependent student, your Parent may apply for the PLUS loan.  The PLUS loan is credit based and repayment begins 60 days after 1st disbursement.
(credit denial may allow student to receive additional UNSUB, must be submitted by the parent)

What is Verification?

Verification is a process by which The Department of Education or EGSC requests certain documents from you in order to verify the information submitted on your FASFA. Sometimes this process could be a completely random or to resolve a discrepancy in the information you submitted. The most common documents are verification worksheets and tax transcripts, however different documents may be requested depending on the type of verification you were selected for. Using the IRS data retrieval tool within the FAFSA is the best way to avoid being selected.

Why do I need to submit a tax transcript and is it the same thing as a tax return?

No. EGSC cannot accept a 1040 or other tax form that you or the preparer completes. In order to properly verify your information, you must submit a tax return transcript from the IRS. This documentation is verified as accurate and federal law prohibits us from accepting any other documentation. You can however use the IRS data retrieval tool within the FAFSA and that will satisfy the tax transcript requirement of the verification process. If you choose not to, or for some reason cannot use the DRT, Click here to be redirected to the IRS tax transcript request page.

I requested and was granted an extension by the IRS and therefore cannot provide a tax transcript, what documents can I provide to resolve this issue?

If you were granted an extension by the IRS you may submit a copy of your W-2s and a copy of your IRS 4868 Extension form. If you are self employed and do not have a W-2, you may submit a signed statement with the following information: Name, Business name, Business nature, Why you are providing a signed statement rather than a W-2, gross amount earned, and amount of income taxes to be paid.

How do I know what documents I need?

Please see our financial aid and admissions status.

I just faxed/emailed my documents, did you receive them?

Please allow 24-72 hours for our documents department to update the system with your document. Due to the large number of documents received daily, we cannot verify if we have received your document unless the initial 72 hours has passed. For updates on what documents you need or what the status for pending documents are visit the check your status page.

I have submitted all of the required documents. How long will it take for them to be processed?

Once submitting your documents, it will take 24-72 hours for our documents department to update in our system as being received. The time it takes for our processors to process your request will vary based on the time of year.  Generally it will take about 5 business days from being updated on your BANNER web account.

How does withdrawing affect my financial aid?

A withdrawal is considered as attempted hours.  All attempted hours are considered when determining your academic progress. You must maintain a 67% completion rate to continue receiving aid. For example: a student that starts with 12 credit hours withdraws from a 3 hour class. If the student were to pass the remaining 9 hours their completion rate would be 9 completed/ 12 attempted and therefore would be a 75% completion rate.

If you withdraw from all enrolled classes for a term before the withdrawal deadlines, your student account will be recalculated.  (You may be required to repay ALL or a portion of the financial aid you received.)
You will become ineligible to receive financial aid funding until the account balance is repaid in full.
Review the SAP policy here.

Can I split my financial aid awards into three semesters (FALL, SPRING and SUMMER)?

Yes, only if you notify the office of financial aid prior to the final fee payment deadline of the FALL semester of the aid year in question.

I am on Financial Aid Suspension; can I still receive financial aid?

No. If you were placed on suspension, it was due to a violation of our Satisfactory Academic Progress (SAP) policy. If this is your first time on suspension and you have not previously submitted an appeal, you may submit one to be considered for reinstatement. Students can only receive one appeal per suspension period. If your appeal is denied, the only way for your aid to be reinstated will be through regaining SAP. (2.0 Cumulative GPA, and a 67% completion rate)

When and how often are financial aid refunds disbursed?

Disbursement for financial aid usually happens about three weeks from the start of classes. If aid is placed on the students account after the beginning of the semester, it will disburse the Thursday of the following week.

How can I show my apartment complex/landlord that I will receive financial aid?

You can print out a copy of your award through your BANNER web account. Log into your myEGSC and select banner web, then financial aid, then award by term.

If I am not able to receive financial aid and must pay for tuition out-of-pocket, is there a payment plan I can enroll in?

Yes. Visit our page about payment plans.

If I am transferring to a different school next semester, how would I go about cancelling my financial aid at EGSC?

If you do not enroll in the following semester, your aid will not payout. However, If you want us to back off award so another institution can award you their aid please fill out a revision request form and turn in into our office for processing.

What are book vouchers and how do they work?

Book vouchers are for students that have excess aid awarded that surpasses the amount that you owe for school. Students can use their financial aid before it is disbursed to their BankMobile Vibe account in the bookstore for school related items. Students can use up to $800 or 75% of their refund, whichever less. Book vouchers are available one week before the start of classes and one week after.

If I submit a Loan Offer Request, but end up needing more or less than originally expected, what would I do?

If you still are under the maximum loan amounts for the semester, you may fill out a revision request to receive the additional loans. If you are at your maximum, a parent PLUS loan may be your only option for additional loan money.