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.  

Sallie Mae is the only Private Education Lender that offers loans to our students. 

Tuition and Costs

The cost of attendance includes tuition and fees, books and supplies, transportation, room and board, and loan fees. Each program has a different cost of attendance. You can find a break-down for each program on our Tuition and Costs page.

Financial Aid Eligibility

To qualify for Federal financial aid, a student must:

  • Be a US citizen or eligible permanent resident
  • Possess a high school diploma or the equivalent or have established eligibility via the passage of a nationally recognized Ability-To-Benefit test prior to July 1, 2012
  • Be enrolled in an eligible program
  • Not be in default on any student loans or owe a refund of any grant funds
  • Be registered with Selective Service, if you’re male (and if applicable)
  • Maintain satisfactory academic progress as described in the catalog

Financial Aid Disbursement Information

The first financial aid disbursement usually occurs within the first thirty days of the program start date. Each subsequent disbursement is contingent upon the student’s maintaining Satisfactory Academic Progress (SAP) by completing all the hours and weeks scheduled for a term within the payment period. SAP measurements are completed at the scheduled end of each payment period at the point when the student’s scheduled clock hours for the period have elapsed, regardless of whether the student attended them.

Pell, FSEOG, and Direct Stafford Loans are disbursed once per payment period. Federal Work-Study funds must be earned prior to each disbursement.

Financial Aid Standards of Satisfactory Academic Progress

This policy is effective with the SAP evaluation beginning 2013.

Maximum Timeframe

All students who receive financial aid must complete their program within 150 percent of the normal program length, as measured in credit/clock hours. If they exceed the maximum timeframe, they are subject to the loss of financial aid, which can be appealed following the procedure outlined below.

If a student is expelled (Academic Expulsion) from one program, they may be allowed to start in a different program under a probationary status. The student will then have to meet certain requirements.

Students who were academically expelled from one program and wish to enroll to another program at Gurnick Academy must submit a written appeal according to the terms outlined below. Admission to the new program requires the approval of the program director and the director of financial aid. If the appeal is granted, the student will be admitted to the new program on a probationary status and must follow the terms of the academic plan provided.

Appeal and Reinstatement

Students who have lost financial aid eligibility for failure to maintain satisfactory progress will be notified in writing of the cancellation of financial aid and are urged to contact the Financial Aid Office. Students with mitigating circumstances wishing to appeal the financial aid cancellation may do so, in writing, to the Financial Aid Office. Mitigating circumstances may include, but are not limited to: illness or injury of the student or immediate family member; death of a relative; or other special circumstance. Our staff will evaluate the appeal and determine whether the student may be allowed to continue to receive financial aid on an FA Academic Plan status.

The student’s appeal must include the following:

  1. The reason why the student failed to meet the SAP standard(s) AND
  2. What has changed in the student’s situation so that he or she will now be able meet the SAP standards AND
  3. Supporting documentation

If an appeal is granted and financial aid is reinstated, the student will receive aid on an Academic Plan status. A student with this status is required to regain SAP standing by the end of the payment period; the terms will be included in the notice forwarded to the student when the appeal is granted. The terms will generally require students to meet or exceed the attendance requirements, pass all courses with a “C” or higher, and may include additional required elements, such as tutoring. Each month the student’s progress will be reviewed based on the Academic Plan; if a student fails to meet the requirements of the Academic Plan, he or she will become ineligible for financial aid.

The Academic Plan is structured to assist the student in regaining SAP status by a projected point in time not to exceed the Maximum Timeframe.

Students will generally be limited to one appeal during the course of their education at Gurnick Academy, regardless of the reason or other circumstance. If a student regains SAP status, he or she regains the ability to submit up to two appeals.

General Title IV and State Financial Aid Information

All Title IV and state financial aid funds received by the institution will be credited to the student’s account (excluding Federal Work-Study).

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 be eligible 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 and comment code resolution prior to disbursement of any financial aid.

In order to maintain eligibility for receiving any financial aid, the student must be in a good academic status with Gurnick and must be making Satisfactory Progress towards the completion of his/her program of study.

Return of Title IV Funds

The U.S. Department of Education maintains a “Return to Title IV Funds” (R2TIV) policy for all financial aid recipients. This policy is separate from the institutional tuition refund policy described in the catalog. The federal policy defines the proportion of Title IV funds that the student is qualified to receive that can be applied to pay institutional charges. The portion of Cal grant earned is based on a pro-rate calculation of hours earned compared to hours scheduled in the period.

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. Determine the Student’s withdrawal date
  2. Calculate % of Title IV aid earned by the Student: Number of clock hours or scheduled days to be 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 disbursed minus total earned equals the federal funds that must be returned to the funding program.
    • The federal policy for “Return of Title IV Funds” defines that a student who has attended up through the 60% point in each payment period or period of enrollment has fully earned the Title IV funds for the payment period/period of enrollment.
  3. Calculate amount of Title IV aid earned by the Student: This ratio is multiplied by the total Title IV aid disbursed (including aid that could have been disbursed) to equal the amount of the Title IV aid earned.
  4. Determine if post withdrawal disbursement is due or if Title IV aid must be returned.
  5. Calculate amount of unearned Title IV aid due from the School
  6. Determine return of Title IV funds by the School: Any funds that are required to be returned by the school will be returned within 45 days of the date of determination that a student has withdrawn.
  7. Funds will be returned in the following order:
    1. Unsubsidized Stafford Loans;
    2. Subsidized Stafford Loans;
    3. PLUS Loans;
    4. Pell Grants;
    5. FSEOG.
  8. Calculate initial amount of unearned Title IV due from the Student:
  9. Students will be informed of any amounts of Financial Aid that they need to return. On an individual basis, the student will receive instructions on returning the funds with a copy of the calculation. Students not making their portion of the return of unearned funds may be ineligible for Federal Student Aid funds in the future.
  10. Determine return of funds by the Student
  11. Allocation of Returned funds by Program

The “Payment Period” is the period of time for which a Title IV distribution has been authorized. Students will be notified of any refunds due to a lender on their behalf through the mailed exit interview material. This material will include a copy of both the R2TIV calculation and the schools refund calculation. Refunds to any of the Title IV programs will be paid within 45 days from the date of determination. Further information is available at the Gurnick Academy of Financial Aid Office or at the USDOE website www.StudentAid.ed.gov.

Student Loan Code of Conduct

  1. Prohibition of financial arrangements.
    Neither the school nor its employees will accept anything of more than nominal value from any lending institution, guaranty agency, or loan servicer.  This specifically includes revenue sharing arrangements and payments or gifts for preferred lender/guarantor/servicer status, and the provision of printing and mailing at below-market prices.  It also includes gifts or donations to students or the school and other grants, scholarships or prizes.
  2. Prohibition of gifts and trips.
    School employees may not accept gifts of more than nominal value from any lending institution, guaranty agency, or loan servicer.  This includes payments and reimbursement for lodging, meals and travel to conferences, meetings or training seminars.
  3. Advisory board rules/compensation.
    School employees are prohibited from receiving anything of value for serving on an advisory board, commission or group of any lending institution, guaranty agency, or loan servicer.  Employees are also prohibited from any type of consulting arrangement or contract to provide services to or on behalf of a lender, guaranty agency, or loan servicer relating to education loans (except for reimbursement for reasonable expenses).
  4. Preferred lender guidelines.
    The school’s preferred lender list must be based solely on the best interests of the students or parents who may use the list without regard to financial interests of the institution.  The school will not assign a lender, guaranty agency, or loan servicer to first-time borrowers.
  5. Preferred lender disclosure.
    On all preferred lender lists the school will clearly and fully disclose the criteria and process used to select preferred lenders, guaranty agencies, or loan servicers and inform students and parents that they have the right and ability to select the lender of their choice regardless of the preferred lender list.  The school will not delay or deny a loan based on a student’s choice of lender, guaranty agency, or loan servicer nor steer borrowers to particular lenders, guaranty agencies, or loan servicers.
  6. Loan resale disclosure and opportunity loan prohibition.
    No lending institution, guaranty agency, or loan servicer may appear on a preferred lender list if the lender has an agreement to sell the loans to another lending institution, guaranty agency, or loan servicer without disclosing this fact.  In addition, no lending institution may bargain to be a preferred lender, guaranty agency, or loan servicer with respect to a certain type of loan by providing benefits to the institution as to another type of loan (opportunity loans, except that the institution may offer loans to international students, at fair market rates, who would be otherwise unable to secure a domestic loan).
  7. Call center and staffing prohibition.
    The school must ensure that employees of lending institutions, guaranty agencies, or loan servicers never identify themselves to students as employees of the institution. No employee of a lending institution, guaranty agency, or loan servicer may ever work in or provide staffing to the school’s financial aid office.

Sallie Mae Scholarship Search Tool

Sallie Mae’s Free Scholarship Search Tool:

This tool gives you 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. 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: www.SallieMae.com/Scholarships.

Nursing Scholarships (via Nursing.org)

‘Nursing.org’ is offering scholarship opportunities and resources to help pay and support individuals who want to pursue nursing. They also offer their resources into finding additional scholarships to help with your academic pursuit. Please follow the link for more information regarding nursing.org’s scholarship application and other additional resources:

http://www.nursing.org/scholarships/

Student Caregiver Scholarships (via Caring.com)

‘Caring.com’ is offering scholarship opportunities and resources to help pay and support individuals who may be student-caregivers. Please follow the link for more information regarding Caring.com’s scholarship application and other additional resources:

http://www.caring.com/scholarships/

Other Resources

College Navigator — http://nces.ed.gov/collegenavigator/.

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