Awards & Disbursements
All financial aid awards are subject to adjustment based upon the availability of funds, enrollment status, any supplemental assistance that one might receive, changes in information, and being in compliance with the Galveston College Satisfactory Academic Progress (SAP) requirements for receiving Financial Aid. Awards are automatically canceled if any false representation has been made. Estimated funds that are scheduled to be disbursed are listed by type, amount, and semester.
Change in Your Information
Awards are based on the information provided on your application for aid, the FAFSA. You must promptly report, in writing, any change to that information to the Financial Aid Office.
How Your Expected Need is Determined
Your expected financial need is the difference between the Cost of Attendance (COA) at Galveston College and the Expected Family Contribution (EFC). The COA is determined by Galveston College and includes tuition, fees, books, supplies, room, board, transportation and miscellaneous expenses. Your EFC is determined by a government formula that is applied against your family’s income and assets as reported on the FAFSA. By subtracting the EFC from the COA, estimated financial need is determined.
1) Cost of Attendance (Budget)
The Following is a typical budget (1 semester at 15 credit hours) for a student attending Galveston College for the 2016-2017 academic year.
*Estimated charges paid to school. All other budget items are living costs and are not paid to the school.
|Not Living with Parents||Dependent Living with Parents|
|(In District)||(In District)|
2) EFC (Estimated Family Contribution)
The amount listed on the Award Letter is what the family is expected to contribute financially to the student’s cost of attendance (including living expenses) during the budget duration. If you are considered an independent student (parents information is not required on the FAFSA), the family contribution is only from the student’s resources.
3) Aid Awarded
This is the total estimated aid you are scheduled to receive based on full-time enrollment.
4) Remaining Need
This is your remaining financial need after subtracting the estimated financial aid.
Enrollment Status/Class Attendance
Federal regulations require that your enrollment status and class attendance be verified prior to your receipt of aid.
Refund and Repayment
Students who register, then withdraw, drop-out, expelled or receive the grade of AWN for non-attendance are subject to Federal Refund and Repayment Policy, as well as Galveston College policies found in the college catalog.
Enrollment Status is determined on the 12th class day (census date or the date funds are applied to student accounts) and is defined as follows:
- Full-time 12 or more hours
- Three-quarter time 11-9 semester hours
- Half-time- 8-6 semester hours
- Less that half-time- 5-1 semester hours
Financial Aid Disclaimer
Students must be enrolled as a regular student in courses that count towards their active eligible degree or certificate program. Pre-plans are not considered eligible programs. Other courses, including prerequisites, cannot be used to determine enrollment status unless they are required remedial courses.
Disbursement of Funds
(A) Charging Your Expenses
If awarded, you may charge tuition and fees to your Pell Grant, Direct Federal Loans, other grants and certain scholarships at the time of registration. You may also charge books and supplies during the period of time designated by the College- usually for one week before the 1st day of class through the 1st 2 weeks of classes. Students wishing to charge their books/supplies must bring a student ID and current schedule.
Any debt owed by you to Galveston College will be deducted from any financial assistance, except Federal Work Study or Texas Work Study, that you are scheduled to receive before a balance check is mailed to you.
(C) Financial Aid Checks
Before any check is released, your eligibility, including enrollment status, must be verified. Work-study checks are the exception to this rule.
**Since Federal Direct loan funds are sent after the Master Promissory and Online Entrance Counseling are completed and sent electronically to Galveston College, the actual release dates may vary.
PLEASE UPDATE THE MAILING ADDRESS WITH THE ADMISSIONS OFFICE to eliminate mailing delays of your refund checks.
Student Financial Aid Procedures
(A) Under Federal policy, only 30 hours of noncredit/ developmental course work can be taken into account when determining a student’s enrollment status and cost of attendance for financial aid eligibility.
(B) Students who have defaulted on a federal loan or owe a refund on a federal grant may not receive official academic transcripts until they have been consulted by a Financial Aid representative on options to bring their loan(s) current.
(C) All documents submitted in support of your financial aid become the property of Galveston College and cannot be returned to you. Please make copies before you submit them.
Multiple Awarding of Federal Aid
It is against federal regulation for a student to receive federal aid at more than one institution during the same enrollment period.
Disbursement of Student Loans
- Loans must be released in two or more disbursements.
- No check will be released prior to the census date.
- First-time borrower’s loans will not be disbursed to Galveston College until 30 days after the first day of class.
- According to Federal guidelines, Galveston College has 14 business days to distribute refund checks to the student from the disbursement date.
- Only hours competed at Galveston College will be taken in to consideration to determine grade level loan eligibility.
- The Master Promissory Note and Online Loan Entrance Counseling must be completed before funds are releases to Galveston College.
- The disbursement date is the date the loan is scheduled to send the funds to Galveston College. Funds are not released until eligibility is confirmed.