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Student Financial Services

Grants and Loans graphic

Apply for Federal Grants and Loans

An education at Great Basin College is one of the most potentially rewarding investment you make in your lifetime, and it can be more affordable than you imagined.

 

GBC Financial Aid Office has many resources to assist you and your family to determine the best way to pay for your education. We are here to help find the best solution for you and your needs.

 

If you need assistance in completing the FAFSA or have questions, you can always contact us for assistance. No appointment is required. The GBC Main Campus in Elko services all financial aid applicants for all of the GBC Service area.

 

The Free Application for Federal Aid (FAFSA) is the foundation for applying for all Federal and State Grants, Federal Student Loans with low interest rates, and College-Work Study to earn wages while in school.

 

As a Federal financial aid recipient, you must maintain the Federal Satisfactory Academic Progress (SAP) requirements each semester to receive funding for your next term of enrollment at GBC. This includes Federal Pell Grants and State Grants, Federal Student Loans, and College Work-Study programs.

Overview of the Financial Aid Process

View the video by clicking here

 

Steps in the Application Process

Step 1:

Student/Parent must create a FSA ID Username and Password at https://fsaid.ed.gov/npas/index.htm

 

New changes starting May 6, 2015, for replacing the 4-digit PIN number to a FSA Username and Password for both students and parents. A new Federal Student Aid (FSA) ID will be issued to complete the FAFSA, apply for a student and parent federal student loans, and access to the National Student Loan Database System.

 

All students and parents completing a FAFSA need to apply for a FSA ID Username and Password. Very important: Input your name as is it appears on your social security.

 

If a student is dependent, both the student AND the parent must apply for a username and password to sign the FAFSA.

 

The FSA ID (username and password) will replace the PIN number. FSA ID (electronic signature) for student’s/parent’s that used every year to apply for federal student aid. Student and/or Parent will be able review and correct information on the Student Aid Report (SAR) online.

This FSA ID will also be used to apply for a federal student/parent loan to electronically sign a Master Promissory Note (MPN).

 

  • Parents will only need one FSA ID to sign the FAFSA. If parents have multiple dependent children, parents can use the same FSA ID for each child’s FAFSA.
  • Keep your FSA ID in a safe place and never give your FSA ID number to anyone. Never give your FSA ID number to commercial services that offer to help you complete a FAFSA.
  • You can instantly establish a FSA ID.

Ensure that you input your name as it appears on your social security card to avoid citizenship issues.

 

If there is a problem with your personal information that you provided when applying for a FSA number, it will take one to three business days to be verified. The Department of Education will notify you by email. Make sure you provide a valid email address.

 

If you don’t have an email address the Department of Education will mail a FSA ID within 7 to 10 days.

 

If you have instantly established a username and password number, there is no need to wait for verification from the Department of Education.

Step 2:

Submit a Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov

 FAFSA Application Video

Click image for a 7 minute video.

It will open in a new browser tab or window.

 

In completing the FAFSA, you will be asked for the GBC code. It is 006977.

 

Several Federal Student Aid Programs become available after you complete the FAFSA application:

  • Grants: Student aid funds that do have to be repaid. You must comply with the GBC Academic Standards Requirements after each semester, which you need to be sure that you understand. If you have any questions, please call the GBC Student Financial Services Office at 775.753.2399.
  • Work-Study: A part-time work program to earn money while you are in school.
  • Loans: Student aid funds that you must repay with interest. There are two types of federal student loans:
    • Federal Direct Student Loans, subsidized and unsubsidized
    • Federal Direct Parent Plus Loans
Wait

Once you submit your FAFSA, it will take 5 business days (about a week) for the U.S. Deparment of Education to send the results to the GBC Student Financial Services Office. You will be notified by email when this occurs.

 

Important: You are not finished!

 

If your letter from FAFSA indicates that you may be eligible for a grant, the final determination is up to the college and is based on supporting documentation provided by you. You must complete steps 3 and 4 to receive a grant, and steps 3 through 8 to receive a loan.

Step 3:

Log in to the MyGBC Self-Service Center to check for missing documents

Missing Documents Video

Click image for a 9 minute video.

It will open in a new browser tab or window.

 

  • If you are unable to log in, click here for instructions.
  • Click the Student Center button. Then click To Do List then Details.
  • If forms are missing from your financial aid record, you can find them in the Forms Directory on this website. Proceed to Step 4 only after providing all missing forms to the GBC Student Financial Services Office.

 

Note: If your FAFSA has been selected for a review process called verification, we have the authority to request copies of financial tax documents from you (and your spouse or parents).

Wait

At most times of the year, the Student Financial Services office requires up to 10 business days (two weeks) to review your documentation and make the final determination about your financial aid. However, during peak times of year (August and January), this process can require four to six weeks.

 

Important: If you applied late, you will need to sign up for a Deferred Payment Plan at the  MyGBC Self-Service Center to help avoid late fees. Very late applicants for financial aid may incur some late charges before processing is complete.

 

If you are a late applicant who is counting on a grant to finance your education, realize that your grant may not be approved. If this is the case, you will incur a personal financial obligation by enrolling in college.

Step 4:

Log in to the MyGBC Self-Service Center to preview your Offer Letter

Offer Letter Video

Click image for a 4 minute video.

It will open in a new browser tab or window.


  • If you are unable to log in, click here for instructions.
  • Click the Student Center button. Then click Go to Communications Center in the box at right. Your offer letter will be titled Financial Aid Award Notice. To view it, click the View/Download Link. Read the letter carefully.
  • If you do not see an Offer Letter after waiting an appropriate amount of time, then please call the GBC Student Financial Services Office at 775.753.2399.
  • Your Offer Letter may include an offer for:
    • A grant, which does not have to be repaid, and/or
    • a loan, which you will have to repay with interest.

GRANT OFFER

If you are offered a grant, it is accepted for you automatically. You may be offered a loan instead of or in addition to a grant. If you do not wish to also incur a loan, your financial aid application will be complete when you:

  1. Enroll in 6 eligible credits (remedial classes below the 095 level are not eligble).
  2. Read the GBC Academic Standards Requirements so that you sustain your financial aid and avoid the necessity of repaying funds granted you.
  3. Familiarize yourself with the GBC Financial Aid Handbook.

 

LOAN OFFER

 

You must decide whether or not to incur a loan and, if you do, whether to borrow the whole amount offered or a lesser amount. Because a loan is a financial obligation to repay with interest, this decision must be made carefully. Before accepting a loan, GBC recommends that you:

 

  1. Check your total student loan indebtedness at the National Student Loans Database System (NSLDS). You will need your FSA ID Username and Password to access this web site: https://fsaid.ed.gov/npas/index.htm. Refer to Step 1. Print out the one-page Aid Summary and submit with your Student Loan Request Form. This Aid Summary shows what you have borrowed thus far and your Pell Lifetime Eligibility Used (LEU).
  2. Become aware of your financial obligation by consulting the federal Entrance Counseling Handbook. (If you do accept a loan, you will also be required to complete formal federal Entrance Counseling and sign a promissory note online, step 6, below.)
  3. Understand that GBC and the federal government will require you to meet GBC Academic Standards Requirements in order to sustain your financial aid. You will need to be completely familiar with these standards.

Additional steps for LOAN recipients only

Step 5:

Log in to the MyGBC Self-Service Center to accept your student
loan[s]

Accepting Awards Video

Click image for a 3 minute video.

It will open in a new browser tab or window.

 

 

Go to Student Center > Campus Finances > Accept/Decline Awards to accept the loan or loans you wish to incur.

 

Once you have accepted a loan, make sure you open all mail from the Department of Education. You will be sent a Disclosure Statement outlining specific details of what has been certified through the GBC Student Financial Services Office.

 

Step 6: Complete Federal Entrance Counseling

 

Loan recipients must complete federal entrance counseling annually. To complete entrance counseling, use your FSA ID Username and Password obtained in Step 1 to log in to https://www.studentloans.gov (if you have forgotten your FSA ID Username and Password, go to: https://fsaid.ed.gov/npas/index.htm).

 

If you have completed Entrance Counseling during a previous year, you may encounter a dialog window like the one shown below. Be sure to click Continue.

Step 7:

Loan Recipients Only: Sign a Master Promissory Note (MPN)

 

Complete the MPN at www.studentloans.gov (if you have forgotten your FSA ID Username and Password go to https://fsaid.ed.gov/npas/index.htm.)

 

If you have completed a MPN in a recent academic year and received a student loan, then you should not need to complete another MPN. MPNs are usually valid for ten (10) years unless you transfer to another school.

 

If you completed an MPN in a recent academic year and did not receive a student loan, chances are that the MPN may have expired and you will need to complete a new MPN. New and transfer students will need to complete a MPN for Great Basin College.

Step 8:

Submit Progress Reports

 

Every instructor gives a syllabus at the beginning of each semester with their contact information that will include their e-mail addresses.

 

Students must e-mail each one of their instructor’s requesting a progress report to be sent directly to the financial aid office. The e-mail progress reports must come directly from each instructor’s e-mail account to the GBC Financial Aid Office e-mail account at financial-aid@gbcnv.edu. No exceptions.

 

Progress Reports will be required before funds can be disbursed if a student is:

  • A first-time student, first-time loan borrower. 30-day wait is required.
  • 100% online classes and does not resided in the GBC Service Area.
  • Spring semester student loans are disbursed in 2 installments. 30-day wait applies for first-time student, first-time borrower. If a student is not a 30-day wait and has taken a classes at GBC, then no progress report required. However, the 2nd disbursement will require a progress report for spirng loan borrowers.
  • Required for students requesting loan funds AFTER October 1st/Fall term and/or March 1st/ Spring term prior to the disbursal of any loan funding
  • Required for students requesting additional loan funds AFTER October 1st/Fall term and/or March 1st/ Spring term prior to the disbursal of any loan funding.
  • Students whose financial aid applications are not complete prior to mid-term of any semester during an academic year will be required to submit a Progress Report with evidence of *satisfactory performance prior to the disbursal of any funding.

 

A reminder e-mail is sent to each student that turned in a student loan request form from the Student Loan Officer ten (10) days before the scheduled disbursements. The e-mail gives detailed instructions of how to request progress reports from each instructor with the GBC’s financial aid e-mail address. Students must e-mail each one of their instructor’s requesting a progress report to be sent directly to the financial aid office. The e-mail progress reports must come directly from each instructor’s e-mail account to the GBC Financial Aid Office e-mail account at: financial-aid@gbcnv.edu. No exceptions. As long as the student is participating in each class and making Federal satisfactory academic progress, the student loan(s) will be disbursed to the student’s account.


 


Great Basin College - 1500 College Parkway - Elko, Nevada 89801 - 775.738.8493
A member institution of the Nevada System of Higher Education
Accredited by the Northwest Commission on Colleges and Universities
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