Financial Aid

Financial Aid

It is the goal of Gurnick Academy of Medical Arts to assist every student in obtaining financial aid that enables the student to attend his/her chosen program of study. Gurnick Academy participates in various federal and state student financial assistance programs. The financial aid programs are designed to provide assistance to students whose financial resources are inadequate to meet the full cost of their education. Each campus has a Financial Aid Advisor who is able to assist students with any financial aid questions.

The majority of financial aid available to students is federal student financial aid and is administered by the U.S. Department of Education. This includes the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Direct Loans, Federal Parent Loans for Undergraduate Students (PLUS), and Federal Work-Study (FWS). Cal Grants are available from the state of California for eligible students in qualifying programs. Students with unfunded balances after federal and state aid can consider payment plans and private educational loans.

The primary responsibility for meeting the costs of education rests with the individual student and his/her family. All financial aid is awarded on the basis of need, regardless of sex, age, race, color, religion, creed, sexual orientation or national origin. Need is defined as the difference between the Cost of Attendance (COA) for one academic year and the amount a student’s family is expected to contribute for the same period, referred to as the Expected Family Contribution (EFC). All students must complete the Free Application for Federal Student Aid (FAFSA) to be considered for federal and state aid; the income and asset information reported on the FAFSA is used to calculate the EFC.  

How to Apply For Financial Aid

  1. All students must complete the Free Application for Federal Student Aid (FAFSA) to be considered for federal and state aid; the income and asset information reported on the FAFSA is used to calculate the EFC. The school code for Gurnick is 041698.

The FAFSA can be completed online at www.fafsa.gov, or using a mobile application available.   The myStudentAid app can be downloaded from the Apple App Store (iOS) or Google Play (Android).

  1. To sign the FAFSA electronically, the student needs an FSAID. To apply for an FSAID, go to fsaid.ed.gov. Students will also use the FSAID to complete the MPN for student loans, to complete online counseling, and to view their student loan data at studentloans.gov and on NSLDS.

The parent of a dependent student will also need the FSAID to sign the FAFSA electronically and throughout the PLUS Loan process.

  1. The FAFSA uses income information from two years prior to the award year. When possible, both the student and the parent should use the IRS Data Retrieval Tool (DRT) within the FAFSA to populate the application with income information directly from the IRS.
  2. Within a few days, students will receive their FAFSA results, either via email with a URL for their Student Aid Report (SAR), or by mail. The school will also receive the results electronically, called the ISIR.

Students must apply for financial aid every year.  The FAFSA must be received by a deadline published annually by the California Student Aid Commission in order to be eligible for the Cal Grant. This deadline can be viewed on the FAFSA website.

The school uses the ISIR data to prepare the student’s Financial Plan.  Depending on the student’s program, federal and state aid may not cover the full cost.  Students can cover the unfunded balance by paying in full, with a payment plan (payment in full required prior to graduation), or by a private education loan.  Talk to your campus financial aid advisor to determine the best option.

General Student Eligibility Requirements

To be considered for federal financial aid a student must:

  • Have a valid Social Security Number
  • Be a US citizen or eligible permanent resident
  • Possess a high school diploma or the equivalent
  • Enroll in an eligible program as a regular student seeking a degree, diploma or certificate
  • Not be in default on any student loans or owe a refund of any grant funds
  • Be registered with Selective Service, if required
  • Not have lost aid eligibility due to a conviction for drug possession or sales for an offense that occurred while the student was enrolled and receiving federal financial aid
  • Maintain Satisfactory Academic Progress as described in the school catalog

Most forms of financial aid require that a student have need, defined as Cost of Attendance minus the EFC, as calculated from the FAFSA data. Direct Unsubsidized loans, PLUS loans and private education loans are not need-based, but eligibility is based on the Cost of Attendance less other aid.

Financial aid from federal programs is not guaranteed from one year to the next. Each student must reapply every year. The award year for most financial aid programs runs from July 1st to June 30th of the following year.

Some student applications are selected for a process of Verification. In order to receive financial aid, students are required to provide documents supporting the FAFSA information. Selected students will be notified of their verification status and supporting documents required by the Financial Aid Office. Students must complete verification, as well as resolution of any flags or comment codes, prior to disbursement of any financial aid.

Financial Aid Programs

Federal financial aid programs include the Federal Pell Grant, Federal Supplemental Opportunity Grant (FSEOG), Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, and PLUS Loans.  Two additional federal aid programs are the Iraq Afghanistan Service Grant and the Children of Fallen Heroes Scholarship.

Federal Pell Grant

This grant is designed to assist students with the greatest need. Federal Pell Grants are only awarded to undergraduate students who have not earned a bachelor’s or professional degree or equivalent. Eligibility is determined by the student’s need, the cost of attendance, and the amount of money appropriated annually by Congress to fund the program.

Pell Grants are gift aid and are not repaid.

 FSEOG

This grant is available to students with exceptional financial need, defined as students with the lowest EFC, and with priority given to Federal Pell Grant recipients. The amount of the grant and the number of students who may receive this grant depend on the availability of funds determined annually by Congress and the USDOE. The funds are awarded proportionally across Gurnick campuses and program start dates. The grant amounts vary; the average grant amount is $300.

FSEOG awards are gift aid and are not repaid.

FEDERAL WORK STUDY (FWS)

The Federal Work Study program provides part-time employment to students who need the earnings to defray the cost of their education. Students may work on or off campus for a qualified public, private, or community service organization.

Eligibility is based on financial need and the availability of funds. The school will attempt to place students in jobs related to their program of study, and work schedules will be arranged according to class schedules.

The amount of the funds and the number of students who may receive these funds depend on the availability of funding from Congress and the USDOE.

Direct Subsidized and Unsubsidized Loans

There are two types of Direct Loans: Subsidized and Unsubsidized. Students must have financial need to receive a Subsidized Direct Loan. The federal government pays the interest that accrues during certain periods on Subsidized Loans.

Financial need is not a requirement for an Unsubsidized Direct Loan. Students must pay the interest that accrues on Unsubsidized Direct Loans while they are in school, or can choose to capitalize the interest (add it to the loan principal).

The interest rates for Subsidized and Unsubsidized loans are set annually and can be found here:  https://studentaid.ed.gov/sa/types/loans/interest-rates.  The annual loan limits are established by Congress, and vary by student dependency status, program of study and year in school.  The net amount of loan funds that are disbursed for the student are less than the gross amount of the loan by the origination fee, set annually and found at the website listed above. The funds for Direct Loans come from the government and are repaid to the government via loan servicer companies.

Federal student loans must be repaid. Students or parents who default on their student loans will lose their ability to receive federal aid in the future, and can have their tax refunds taken and wages garnished.

Direct PLUS Loans

PLUS Loans are loans parents can obtain to help pay for the cost of education for their dependent undergraduate children.

Financial need is not a requirement for a PLUS Loan. The limit to the amount of a PLUS Loan is the Cost of Attendance less other aid. Parents must pay the interest that accrues on PLUS Loans while the student is in school.

The interest rates for PLUS loans are set annually and can be found here:  https://studentaid.ed.gov/sa/types/loans/interest-rates.    The net amount of loan funds that are disbursed for the parent are less than the gross amount of the loan by the origination fee, set annually and found at the website listed above. The funds for all Direct Loans come from the government and are repaid to the government via loan servicer companies.

PLUS Loans are credit based; parent borrowers will have a credit check as part of the application process and cannot have adverse credit.  If a parent is denied on the basis of adverse credit, he or she can obtain an endorser for the loan. Any of a student’s parents can apply for a PLUS Loan (biological or adoptive or current step-parents, if their information would be included on the FAFSA).  The PLUS parent borrower does not have to be the custodial parent.

Iraq Afghanistan Service Grant

Students may be eligible to receive the Iraq and Afghanistan Service Grant (IASG) if they:

  • Are not eligible for a Federal Pell Grant on the basis of their EFC, but
  • Meet the remaining Federal Pell Grant eligibility requirements, and
  • Their parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11, and
  • The student was under 24 years old or enrolled in college at least part-time at the time of the parent’s or guardian’s death.

Students who may be eligible for the Iraq Afghanistan Service Grant will have a flag on their Student Aid Report.

IASG awards are gift aid and are not repaid.

Children of Fallen Heroes Scholarship

A Pell-eligible student whose parent or guardian died in the line of duty while performing as a public safety officer is eligible to receive the Children of Fallen Heroes (CFH) award, which is a maximum Pell Award, and all other need-based aid is awarded using a 0 EFC (maximum eligibility).  The student must:

  • Have a Pell-eligible EFC;
  • Be enrolled in an undergraduate program;
  • Not have earned a baccalaureate or first professional degree, or equivalent; and
  • Be less than 24 years of age or enrolled at an institution of higher education at the time of his or her parent’s or guardian’s death

In subsequent years, the student remains eligible for the Children of Fallen Heroes (CFH) award as long as the student is Pell-eligible, has a Pell-eligible EFC, and is otherwise eligible.

PUBLIC SAFETY OFFICER

For purposes of the CFH award, a public safety officer is:

  • A fire or police officer, defined as an individual who is serving in accordance with state or local law as an officially recognized or designated member of a legally organized public safety agency and provides scene security or directs traffic in response to any fire drill, fire call, or other fire, rescue or police emergency, or at a planned special event; or
  • As defined in section 1204 of title I of the Omnibus Crime Control and Safe Streets Act of 1968 (42 U.S.C 3796b).

CFH awards are gift aid and are not repaid.

Cal Grant

Gurnick Academy is a Cal Grant eligible institution. The California Student Aid Commission offers state funded grants to students. Students who would like to be considered for this grant must complete a FAFSA by the deadline published annually in the FAFSA and may also need to submit a GPA Verification to the California Student Aid Commission.

General Cal Grant Eligibility Requirements
All Cal Grant applicants must:

  • Be California residents
  • Be U.S. citizens or eligible non-citizens
  • Meet U.S. Selective Service requirements
  • Attend an eligible California qualifying postsecondary institution
  • Be enrolled at least half-time
  • Maintain satisfactory academic progress as defined at school of attendance
  • Have family income and assets below the established ceilings
  • Not be in default on any student loan
  • Not owe any federal or state grant refund

Gurnick Academy is eligible for the following types of Cal grants:

Cal Grant A
Cal Grant A provides tuition and fee assistance for low and middle-income students. For Cal Grant A, your coursework must be at least two academic years.

Cal Grant B
Cal Grant B provides a living allowance and tuition and fee assistance for low-income students. Awards for most first-year students are limited to an allowance for books and living expenses. When renewed or awarded beyond the freshman year, the award also helps pay for tuition and fees. For Cal Grant B, your coursework must be for at least one academic year.

There are two types of Cal Grant B awards: Entitlement and Competitive.

Cal Grant B Entitlement Award
Students who meet all the Cal Grant eligibility requirements and have at least a 2.0 GPA and apply by the deadline the year they graduate from high school or the following year are guaranteed a Cal Grant B. Students awarded an Entitlement Cal Grant B must confirm their high school graduation at www.webgrants4students.org before funds can be disbursed.

The Cal Grant B Entitlement award provides money for books and living expenses for students in their first year of college.

For the second and subsequent years, the award also provides for tuition support at participating independent colleges and universities and career colleges.

Cal Grant C
Cal Grant C awards assist with tuition and training costs for occupational, technical, and vocational programs. Funding is available for up to two years depending on the length of the program. To qualify, you must enroll in an occupational, technical, or vocational program that is at least four months long at a vocational/career school. Even though a GPA is not required to apply for a Cal Grant C, you are still encouraged to submit yours because it can only help your chances of receiving an award.

Loan Entrance/Exit Counseling

Students who have never before received a Federal Direct Subsidized or Unsubsidized Loans must complete Entrance Counseling prior to disbursement of the loan(s).  The online entrance counseling is available at www.studentloans.gov. Counseling must be completed in a single session and will take 20 to 30 minutes.

Additional Financial Awareness counseling is also available at this website; this counseling is optional.

 

PLUS Credit Counseling is required if the U.S. Department of Education has informed the parent applying for the PLUS Loan that he or she has an adverse credit history and the parent borrower has obtained an endorser or documented to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to his or her adverse credit history.

PLUS Credit Counseling can be completed voluntarily at any time. If PLUS Credit Counseling is completed voluntarily and the parent borrower is determined to have an adverse credit history by the U.S. Department of Education within 30 days of PLUS Credit Counseling completion, the PLUS Credit Counseling requirement is considered to be fulfilled.

Exit Counseling is required for all Federal Direct Subsidized and Unsubsidized Loan borrowers.  The online exit counseling is available at www.studentloans.gov. Counseling must be completed in a single session and will take 20 to 30 minutes. Exit counseling should be completed shortly before the student graduates or ceases to be enrolled on at least a half-time basis.  Students who withdraw without notice will be emailing exit counseling information and a link to the online exit counseling.

Sallie Mae Loans

Sallie Mae is the only private education lender from whom Gurnick students have borrowed in the last three years.  Students and families can also check with their local banks or credit unions about the availability of private education loans or other funding options.

 

The Sallie Mae Smart Option Loan offers:

  1. Choose between a competitive variable or fixed interest rate.
  2. No origination fees and no prepayment penalty.
  3. Apply with a creditworthy cosigner.A cosigner may help lower your interest rate — and give you a better chance of approval.
  4. Lower your rate.Receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled payments by automatic debit.
  5. Free Quarterly FICO® Credit Score. Borrowers with an eligible loan may receive their FICO ®Score quarterly. You’ll also receive access to the key factor(s) affecting your score and educational content to help you understand why monitoring your FICO ® Score is important.

The Sallie Mae Parent Loan offers:

  • Eligible Borrower. The borrower can be a parent or any creditworthy individual who would like to help provide the gift of education.
  • Choose between a competitive variable or a fixed interest rate.
  • No origination fees and no pre-payment penalty.
  • Lower your rate. Receive a 0.25% interest rate reduction when you enroll to make schedule payments by automatic debit.
  • Free Quarterly FICO® Credit Score. Borrowers with an eligible loan may receive their FICO ®Score quarterly. You’ll also receive access to the key factor(s) affecting your score and educational content to help you understand why monitoring your FICO ® Score is important.

For full information on Sallie Mae Student Loans, go to https://salliemae.com/student-loans

Veterans Assistance

Veterans Benefits & Veterans Administration Applicants Additional Information

Gurnick Academy of Medical Arts is approved for the training of veterans and eligible persons as an eligible institution. Applications for Veterans benefits may be obtained by contacting the Veterans Administration. Approval of training benefits to be awarded is the responsibility of the Veterans Administration. In order to achieve and maintain eligibility in the VA, there are additional requirements placed upon the institution and the applicant who intends to utilize their VA benefits.

Applicants to Gurnick Academy who are eligible for VA benefits must comply with the items included in this section as well as all Gurnick Academy’s institutional policies. Students may check their GI Bill® eligibility at http://gibill.va.gov. GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA).

VA Review of Prior Training for Transfer Credit
Prior to being accepted into Gurnick Academy of Medical Arts, any VA eligible applicant must provide to Gurnick an academic transcript or any other official documentation of all previous training.

Gurnick will review each submitted transcript or other official documentation to determine if any prior training may be utilized as transfer credit into a program. The review will be documented by Gurnick in writing, and a copy of the determination will be given to the applicant.

The transcripts, or other official documentation, the written Gurnick review and determination will become a part of the student’s official Gurnick academic record, and subject to all policies and regulations concerning academic records.

VA Transfer Credit
If transfer credit is granted to a VA eligible applicant, the portion of the program that is replaced is not eligible for certification for VA benefits. The applicable part of the program substituted is not billable to the student or VA, or any other agency.

VA Specific Academic Requirements of Eligibility
VA eligible students must maintain Satisfactory Progress in their program to maintain benefits eligibility. Students not receiving a minimum grade of C in any course will be referred for remediation a maximum of three times. VA Benefits will be terminated if the student is expelled from the program. Please read our Academic Probation/Remediation policy in the Gurnick catalog for more information.

Additional Responsibilities for VA Eligible Applicants
Gurnick Academy does not determine any eligibility for VA benefits. The eligible applicant must complete all required VA applications and requirements with the VA and receive VA approval prior to Gurnick accepting any expected VA funds as part of a tuition payment plan.

Receipt of VA Additional Notices
The VA requires that all VA eligible applicants receive a copy of the Gurnick Catalog including Addendum and that Gurnick Academy of Medical Arts documents such disclosures.

Maximum Timeframe
VA benefits are paid for 100% of the published program length and not up to 150% of the maximum timeframe.

Aid Disbursement & Satisfactory Academic Progress (SAP)

All aid is paid in two disbursements over an award year. The first disbursement of financial aid usually occurs within the first 30 (thirty) days of the program start date. Each disbursement after the first is contingent upon students meeting the Satisfactory Academic Progress (SAP) requirements.  In addition, students must successfully complete both the clock or credit hours and the weeks in the payment period in order to receive the subsequent disbursement in non-term programs.

For term programs SAP is monitored at the end of each term.  In non-term programs, SAP measurements are completed at the scheduled end of each payment period when the student’s scheduled clock hours for the period have elapsed, regardless of whether the student attended them. Gurnick’s SAP policy is available at www.gurnick.edu/xxxxxxxx.

Pell, FSEOG, Direct Loans and PLUS Loans are disbursed once per payment period. Federal Work-Study funds must be earned as the student works and are received by the student in the form of wages through the Gurnick payroll office.

Cal Grants are disbursed by quarter; each grant comes in three payments.

Online Students

Students enrolling in an online program at Gurnick Academy must first apply for admission at www.gurnick.edu/xxxxxxxxxxxxxxxxxx.

To receive financial aid, students should:

  1. Complete the FAFSA at fafsa.gov, or using the FAFSA mobile application. Use the Gurnick school code 041698.  You will need an FSAID to sign the FAFSA electronically; the website is www.fsaid.ed.gov.

If you have already completed the FAFSA for the current school year, you need to add the Gurnick Academy school code of 041698, so that Gurnick receives your FAFSA results.

  1. The FAFSA results will be sent to both you and to Gurnick within a few days. Within two weeks from the date you complete the FAFSA or add the Gurnick school code, Gurnick will mail you an Estimated Financial Plan.  This estimate will show you the anticipated grant and loan aid you may be eligible to receive, as well as any balance you will owe and payment options.

Can’t wait two weeks?  Call or email the campus financial aid office for an appointment.

  1. Gurnick will process your FAFSA results and mail or email you a Requirements Letter with any additional requirements. This might include documentation regarding citizenship or eligible non-citizenship status, tax returns and/or IRS transcripts, or other documentation.  Gurnick cannot continue to process your financial aid awards without all required documentation.
  2. Once the student has submitted all required documentation, Gurnick will mail or email the student a Financial Aid Plan.
  3. If you wish to receive any federal student loans, you must complete the Master Promissory Note (MPN), available at studentloans.gov. Student loan entrance counseling must be completed prior to the student’s start date, also at www.studentloans.gov.

PLUS loans for parents of dependent students require a separate application and MPN, both available at www.studentloans.gov.

  1. If a private loan is necessary, students or parents can check with their local banks or credit unions. Gurnick students have also borrowed private loans from Sallie Mae (salliemae.com). Students and parents should be aware that private loans have different terms than federal loans, and generally a higher interest rate.  Federal loan eligibility should always be explored before borrowing a private loan.

Still have questions? If students or parents need to speak with a financial aid advisor, they should contact the campus financial aid office by phone or email.

Scholarships

Sallie Mae Scholarship Search Tool

Sallie Mae’s Free Scholarship Search Tool is available for students to search a free national database of scholarship information:

  • Provides access to an award database that contains more than 3 million scholarships worth over 16 billion dollars, which is expanded and updated daily.
  • By registering and completing a profile, users will receive a personalized list of scholarship opportunities that match their unique background. Users can view a printable calendar listing all scholarships by deadline, and filter to sort scholarships by name, deadline, or award amount.
  • The easy-to-use database is free, contains no advertisements and does not sell any of the user’s personal information.

Please visit the Sallie Mae website for further information at:  www.SallieMae.com/Scholarships.

Nursing Scholarships (via Nursing.org)

Please follow the link for more information regarding nursing.org’s scholarship application and other additional resources: http://www.nursing.org/scholarships/

  • ‘Nursing.org’ offers scholarship opportunities and resources to help support individuals who want to pursue nursing as a career. They also offer assistance in finding additional scholarships to help with future nurses’ academic pursuits.

Students should note that private scholarships have different requirements and deadlines; Gurnick Academy is not responsible for nor connected with these organizations and does not endorse or recommend any specific resources.

Withdrawals & The Return To Title IV Aid (R2T4) Calculation

The U.S. Department of Education requires a “Return to Title IV Funds” (R2T4) calculation for all recipients of federal financial aid who withdraw from school, officially or unofficially. This policy is separate from the institutional tuition refund policy described in the catalog. The R2T4 calculation determines the proportion of Title IV funds that both the school and the student must return to the federal government, and what amounts can be retained on the student’s account.

A brief description of the calculation follows. For further information, or a more detailed version of the calculation, please see the Financial Aid Office.

  1. The student’s withdrawal date/last date of attendance is determined.
  2. The % of Title IV aid earned by the student is calculated as follows: Number of clock hours or scheduled days completed / Number of clock hours or scheduled days in the payment period = Percentage of Title IV Funds Earned*

This ratio is multiplied by the Title IV aid disbursed plus the Title IV aid that could have been disbursed to equal the Title IV aid earned. Total aid disbursed minus total aid earned equals the federal funds that must be returned to the aid programs.

A student who has attended more than 60% of the scheduled hours or days in the payment period has fully earned the Title IV funds disbursed for the payment period.

  1. The amount of Title IV aid earned by the student is calculated: The ratio from above is multiplied by the total Title IV aid disbursed or that could have been disbursed to equal the amount of the Title IV aid earned.
  2. If the aid disbursed exceeds the aid earned, a return is due. If the aid earned exceeds the aid disbursed, a post withdrawal disbursement is due.
  3. The school is responsible to return the amount of unearned aid up to the amount of the unearned charges (charges for the payment period multiplied by the unearned % from above).
  4. Any federal funds that must be returned by the school will be returned within 45 days of the date of determination that a student has withdrawn.

Funds will be returned in the following order:
a) Unsubsidized Stafford Loans;
b) Subsidized Stafford Loans;
c) PLUS Loans;
d) Pell Grants;
e) FSEOG;

  1. f) IASG.
  2. Students are responsible to return the balance of the unearned aid, after subtracting the amount returned by the school. Loan funds are returned by the student in the course of loan repayment; the R2T4 calculation will show any grant funds that must be immediately returned by the student.  Students who do not repay the amount of any grant overpayment due are reported to NSLDS and the debt is referred to the USDOE for collection.

Cal Grant

Those students who receive Cal Grants and withdraw from school are required to have a similar calculation to determine the portion of Cal Grant funds that are unearned. The portion of Cal Grant earned is based on a pro-rated calculation of hours earned compared to scheduled in the period. Further information is available at the Financial Aid Office.

Financial Aid Contact Information

Office Hours:

8:30AM – 5:30PM, Monday – Friday

Phone: 1-877-GURNICK

Email: financialaid@gurnick.edu

School Code for FAFSA:

041698 (For All Campuses)

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