Federal Financial Aid

Eligibility

In order to be considered for federal financial aid, you must meet the following conditions:

• You must possess a high school diploma, GED or State Certificate.
• You must be formally admitted to a degree or eligible certificate program.
• You must be a US Citizen or permanent resident.
• You must be enrolled or planning to enroll on at least a half-time basis (4 units per trimester for graduates, 6 units for undergraduates). (With one exception: You may receive a federal Pell Grant for less than half-time enrollment.)
• You must enroll in classes for which you will receive credit. Pass/Fail or Audit classes are not eligible for financial aid.
• You must be registered with Selective Service (if you are so required).
• You must be making satisfactory academic progress as defined by the Financial Aid Office at GGU. For the official university policy, see the university catalog.
• You must not be in default on a federal loan or owe a refund on a federal grant.
• You must complete a Free Application for Federal Student Aid at http://www.fafsa.ed.gov
• You must complete a Golden Gate University 08SU-08FA FinAid App. In order to receive federal financial aid, note the following:
• In order for GGU to disburse federal title IV funds to your account, you must complete an online entrance counseling session at http://www.edfund.org. Upon ceasing to be enrolled half-time or upon graduating, you must also complete exit counseling.
• In order for GGU to disburse to your account a Federal Perkins loan, you must sign the loan promissory note and complete the online entrance counseling session at www.fc.campusoncall.com. Upon ceasing to be enrolled half-time or upon graduating, you must also complete exit counseling.

If you withdraw from courses during a financial aid term there may be ramifications to your financial aid award. You can find the complete policy in the university catalog.

Federal Stafford Loans are available in two types, subsidized and unsubsidized:

• Subsidized Federal Stafford Loans have their interest subsidized (paid for) by the federal government while you are enrolled at least half time.
  If you borrow an Unsubsidized Federal Stafford Loan, you are responsible for paying the accrued interest from the beginning of the loan, even during periods of enrollment. For both loans, the lender may deduct a 3 percent origination fee (this may vary by guarantor) from the total amount borrowed. For example, if you borrow $5,500, you will receive only $5,335, or 97 percent of the amount borrowed. However, the full $5,500 must be repaid.
  Six months after you graduate or cease to be enrolled half time, you enter repayment with monthly payments of interest and principle. During repayment, interest accrues annually at an annual variable rate with a cap of 8.25 percent. The minimum monthly payment is $50 with a maximum repayment term of 10 years.

• Important note: If a student is attending only for one trimester or a combination of terms that equal one trimester, Stafford Subsidized and Unsubsidized loans will be disbursed at the beginning of the semester and after the half way point of the trimester per U.S. Department of Education regulations.

• After screening several lenders, the Financial Aid office has compiled a list of those who will provide a high level of customer service and offer competitive rates. While you are free to choose any lender that participates in the Title IV loan program, to view or print our lender option list, Lender Option List

It is your right to choose any Stafford-approved lender you prefer. If you already have Staffaord loans, we recommend that you borrow from the same lender, especially if you wish to consolidate your loans. *Please note that during 2008, some lenders may not be able to fund student loans. The Financial Aid Office will notify you if this situation occurs with the lender you have selected.

• Federal Stafford Loan Annual Borrowing Limits: *

Grade Level	Dependent Students	Independent Students
Freshmen	$3,500	$7,500
Sophomores	$4,500	$8,500
Juniors/Seniors	$5,500	$10,500
Graduate/Professional	not applicable	$20,500

EFFECTIVE JULY 1, 2007

* The amounts shown represent the total combined eligibility for subsidized and unsubsidized Stafford loans.

• Federal PLUS loans enable parents or stepparents to borrow up to the total cost of their dependent child's education, minus any other aid he or she may receive. PLUS loans are for undergraduate student only and are not based on the family's income or assets. These loans are always unsubsidized. Effective July 1, 2007 to June 30, 2008 the interest rate is 8.02% per annum. A separate loan application is required and credit worthiness check will be done by the chosen lender.

• Federal Graduate PLUS loans are for graduate students who have educational expenses beyond the Federal Stafford loans and/or other financial aid. Effective July 1, 2007 - June 30, 2008, the interest rate is 8.02%. The Cost of Attendance (COA) minus awarded financial aid equals the amount of a potential Federal Graduate PLUS loan. COA includes actual tuition plus general budgets for Books, Supplies, Room/Board, Transportation and Personal expenses.

Determining Federal Graduate PLUS loan amounts
COA	$25,000
Minus Federal Stafford Loans	$18,500
Minus GGU Scholarship	$500
Amount of Potential Graduate PLUS Loan	$ 6,000

the amounts used above are for concept purposes only

The potential Graduate PLUS loan amount would be on a separate loan application, require a credit worthiness check, the interest rate is 8.5% per annum (until July 1, 2007) and lenders may charge fees. This loan is not automatically awarded to graduate students. The Federal Graduate PLUS loan program became available as of July 1, 2006. For further information contact http://www.finaid@ggu.edu or call Student Financial Planning at 415-442-7270.

The amount of a Perkins Loan varies but seldom exceeds $4,000 per year. Loans are repayable at a 5 percent annual interest rate beginning nine months after an individual ceases to be at least a half-time student. A student may have up to ten years to repay the loan at a minimum of $40 per month, depending on the amount owed. The maximum amount that a student may borrow through the Perkins Loan program at all institutions is $20,000 for undergraduates and $40,000 for graduates (including Perkins loans as an undergraduate).

Federal Pell Grants are awarded to undergraduate students with very low family contributions (high need) and can range from $400 to $4,050 per academic year based upon the student's financial need and enrollment status. Federal Pell Grants are the only form of aid available to students enrolled less than half time.

FSEOG awards are offered to undergraduate students with the greatest need, typically as a supplement to the Federal Pell Grant. Amounts may vary from school to school, based upon available funding. GGU typically offers FSEOG awards of up to $600 per trimester, depending on enrollment status. Due to limited funds, SEOG may not be awarded to students who are receiving Cal Grants, tuition reimbursement or other types of educational benefits.

FWS provides federally subsidized work opportunities. FWS jobs typically are on-campus, but some off-campus positions may be available in nonprofit community service agencies. Pay rates are competitive and vary depending on the position. A student worker will be paid twice a month.

If you qualify for benefits for the following Veterans Affairs Educational Assistance Programs you may use those benefits towards your GGU tuition:

• Chapter 1606 Montgomery GI Bill: Selected Reserve
• Chapter 30 Montgomery GI Bill: Active Duty
• Chapter 31 Veterans Affairs Vocational Rehabilitation
• Chapter 32 Veterans Educational Assistance Program (VEAP)
• Chapter 35 Survivors' and Dependents' Educational Assistance

Please contact GGU's VA Official in the Financial Aid Office at 415-442-7283 or cdecker@ggu.edu or finaid@ggu.edu to initiate the certification of your GGU enrollment to the VA.

Click here for a printable one-page sheet of important information about VA benefit disbursement procedures at GGU, including step-by-step instructions and relevant contact information.

GGU's academic programs of study are approved by the Higher Education Coordinating Board's State Approving Agency (HECB/SAA) for enrollment of persons eligible to receive educational benefits under Title 38 and Title 10, US Code.