Gustavus Adolphus College

The Financial Aid Office will begin reviewing renewal applications in mid-February. If you have submitted all the required documents, you (the student) should receive your 2008-2009 letter of aid eligibility via campus mail beginning April 1, 2008. We will not mail a copy to your home address. Please share this important information with your parents. New for 2008-2009, current students will be able to review their award letters on line via WebAdvisor.

Loan applications--Federal Direct PLUS loan and private alternative loans--can be submitted to our office as early as May 1, 2008 for the next academic year.

The most important thing for returning students to remember is that you must re-apply for financial aid each year you attend Gustavus. Your online pin number will be e-mailed to you in the early winter each year. Keep an eye out for this email from the Department of Education and remember to reapply!

Students who anticipate needing financial assistance should file a Gustavus Renewal Application and 2008-2009 Renewal FAFSA. International students must apply and be admitted as financial aid recipients in the first year in order to reapply in subsequent years.

Your aid eligibility is reviewed based on the updated information you and your parents provide to us when you reapply for aid. However, you should expect to receive roughly the same financial aid as in the prior year, provided there are no significant changes in your family's finances or circumstances (number in household, number in college) and you meet the financial aid renewal deadlines.

• STEP 1: Complete the 2008-2009 Free Application for Federal Student Aid (FAFSA).
  

  The FAFSA cannot be turned in before January 1 of the year you are applying for financial aid. For Gustavus to receive your results, you will need to include Gustavus' FAFSA Code: 002353. Priority Deadline for receipt of the Application for Financial Aid is April 17, 2008.
  

• STEP 2: Complete and Submit Your Gustavus Renewal Application. You must complete this form and return it to the Financial Aid Office to be considered for student aid. We will use this information, along with the information on your FAFSA to determine your financial need.
•  Parents and students are strongly encouraged to submit signed copies of their 2007 federal tax returns and W-2 statement(s) with their aid applications to expedite the renewal process. 

• You may decline all or part of the self-help portion (Work Study and/or loans) without jeopardizing any grant or scholarship offered. For instance, if your parents decide to pay a larger portion of your tuition to avoid a Work Study obligation, that is their option.
• If student loans are part of your financial aid package, you may elect to borrow a smaller amount than is listed. Simply indicate the amount you plan to borrow on the award notification and return a copy to our office.  Keep a copy of your changes for your records.
• You cannot deduct required enrollment deposits using the amount of your financial aid package. These must be sent directly to the Student Accounts’ Office when due.
• Per federal regulations, any financial aid awarded will be divided equally between the fall and spring semesters.
• All institutional, federal, and state grants and loans will be credited directly to your student account.
• All student employment earnings will be paid to you monthly as earned.

If you are only receiving merit scholarship assistance (Presidential, Dean’s Legacy, etc) and are not interested in applying for unsubsidized Stafford loan assistance, you only need to complete pages1 and 4 of the 2008-2009 renewal application and return to our office.  Deadline for submission is April 17, 2008.  You must file a FAFSA to receive unsubsidized Stafford loan assistance.  Please refer to your notification letter to determine GPA requirements for renewing your scholarship.

Merit scholarships do not increase from year to year.  Your scholarship will remain the same from one academic to the next, unless you fail to meet the required GPA.  If you lose your academic scholarship, you may appeal to the Director of Financial Aid to have the scholarship reinstated for the next academic year once you have achieved the required GPA.

A Fifth Year
Gustavus considers undergraduate students eligible for scholarship consideration through 8 semesters of undergraduate enrollment, including coursework taken at other colleges or universities.  The only exception to this policy are 9th semester education majors who are student teaching.

Students who wish to enroll for a fifth year in pursuit of a minor, a second major, or a second degree will not be eligible for institutional scholarship consideration, but may apply for private loans and work eligibility. Federal grants and loans are available if you need a 9th semester to complete your graduation requirements. State grant eligibility ends after 8 semesters of enrollment.  This aid will not be replaced with additional college grant assistance.

Students who need to enroll for a fifth year to complete the minimum requirements of the first undergraduate degree due to academic or personal difficulties, may request consideration for college scholarship in addition to loans, job eligibility, and Federal grants.

To apply for scholarship consideration beyond 8 semesters, you must also submit all other application materials to the appropriate sources according to standard financial aid application deadlines. Please note that you will generally receive a higher than normal self-help (job and loan) offer in your financial aid package.

Study Abroad and Off Campus Programs through Gustavus
Students already on aid who are accepted into one of Gustavus’ study abroad programs do not need to make a written request for financial aid reconsideration. The Financial Aid Office will receive notification of students' participation directly from the program and will automatically adjust students' budgets according to established guidelines.  We do not offer additional grant assistance for these programs.  The Financial Aid Office can work with families to review loan options to help meet additional costs of attending Gustavus’ off-campus study programs.  Students will receive a revised financial aid notice reflecting any changes made as a result of participation in these programs, if additional loan assistance has been requested.

Consortia (Non-Gustavus Programs)
Students attending a program through another school will not receive Gustavus aid for that period of study. However, students may arrange a consortium agreement in order to receive their Federal, state, and alternative loan aid to attend a non-Gustavus program (Federal Pell Grant, Federal Stafford Loan, Federal PLUS loan, and MN State Grant).

To initiate a consortium agreement between Gustavus and a host school, students must submit a request to the Financial Aid Office after receiving approval from the Registrar’s Office. Because this process is lengthy, we recommend students submit this request to the Financial Aid Office as soon as possible, preferably eight to ten weeks prior to the term(s) of attendance at the non-Gustavus program.  Please come by the Financial Aid Office for additional information.

Independent Status

An undergraduate student is only considered "independent" for Title IV purposes if he or she:

• Is at least 24 years of age on or before December 31st of the award year;
• Is a graduate or professional student;
• Is married;
• Has children or dependents other than a spouse for whom the student provides more than half support;
• Is an orphan (i.e. both parents are deceased) or is a ward/dependent of the court, or was a ward/dependent of the court until age 18;
• Is serving on active duty in the U.S. Armed Forces for other than training purposes;
• Is a veteran of the U.S. Armed Forces; or
• Is a student for whom a financial aid administrator makes a documented determination of independence by reason of other unusual circumstances using his or her own professional judgment discretion.

Orphan or Ward of the Court

Effective July 1, 2009 the orphan/ward of the court criterion is expanded to include any student who is an orphan, is in foster care, or is a ward of the court at any time after turning 13 years of age. Under this new law, youth who are adopted after their 13th birthday will not need to include their adoptive parents' income, asset, or other information for purposes of determining need for federal student financial aid.

Emancipation or Legal Guardianship

For the 2009-10 award year, the independent student definition will also be expanded to include applicants who are emancipated minors or are in legal guardianship as determined by a court of competent jurisdiction in the applicant's state of legal residence. Currently, the independent student definition does not include either category of applicants. Currently emancipation or legal guardianship may only be considered as factors which may influence a financial aid administrator's decision to allow a dependency status override when exercising his or her professional judgment discretion on a documented, case-by-case basis.

Homelessness

Likewise, a student applicant's homelessness currently may only be considered by a financial aid administrator when using professional judgment based on circumstances unique to that student applicant. But starting in 2009-10, the independent student definition will also be expanded to include any applicant who has been verified during the school year in which the application is submitted as either:

• An unaccompanied youth who is a homeless child or youth, as such terms are defined in section 725 of the McKinney-Vento Homeless Assistance Act; or
• An unaccompanied youth who is at risk of homelessness and is also self-supporting.

Under this criterion, unaccompanied youth must be verified as either homeless or at risk of homelessness during the school year in which the application is submitted by at least one of the following:

• A local educational agency homeless liaison, designated pursuant to 722(g)(1)J)(ii) of the McKinney-Vento Homeless Assistance Act;
• The director or a designee of the director of a program funded by the Runaway and Homeless Youth Act;
• The director of a program funded under subtitle B of title IV of the McKinney-Vento Homeless Assistance Act; or
• A financial aid administrator.

For purposes of making this determination, homeless children and youths are defined as individuals who lack a fixed, regular, and adequate nighttime residence (within the meaning of "homeless" or "homeless individual or homeless person" defined in section 103 of the McKinney-Vento Homeless Assistance Act) and includes the following:

• Children and youths who are sharing the housing of other persons due to loss of housing, economic hardship, or a similar reason; are living in motels, hotels, trailer parks, or camping grounds due to the lack of alternative adequate accommodations; are living in emergency or transitional shelters; are abandoned in hospitals; or are awaiting foster care placement;
• Children and youths who have a primary nighttime residence that is a public or private place not designed for or ordinarily used as a regular sleeping accommodation for human beings (within the meaning of section 103(a)(2)(C));
• Children and youths who are living in cars, parks, public spaces, abandoned buildings, substandard housing, bus or train stations, or similar settings; and
• Migratory children (as such term is defined in section 1309 of the Elementary and Secondary Education Act of 1965) who qualify as homeless for the purposes of this subtitle because the children are living in circumstances described in clauses (i) through (iii).

The terms "homeless" and "homeless individual or homeless person" do not include any individual imprisoned or otherwise detained under federal or state law. Additional information on the McKinney-Vento Homeless Assistance Act is available on the U.S. Housing and Urban Development (HUD) Web site at http://www.hud.gov/offices/cpd/homeless/lawsandregs/laws/.

Appeals for additional assistance will not be considered until after July 1, 2008.  A letter of special circumstances must be submitted to our office no later than June 15th along with a signed copy of your parents’ 2007 federal tax return and W-2 statement to be considered.

It is important for you and your parents to be aware that we will not reduce expected contributions as a consequence of a family's financial decisions, such as refusing to pay educational costs or cash flow problems due to choices you and your parents have made in allocating or spending your resources.

Response time to requests for reevaluation varies, depending on the complexity of the issues involved and the time of year. We will make every effort to respond as promptly as possible. In most cases, you should continue with loan processing while a revision request is being considered. You must submit your request for a review of your aid award by using the 2008-2009 Request for Review form.

If there are no changes in circumstances on which to base a revised financial aid award, you and your parents will need to consider your ability to pay based on your income, assets, and ability to borrow. A frequently used program is the Federal Parent Loan for Undergraduate Students (PLUS). It may also be possible for you (the student) to borrow through the Federal Stafford Loan Program to help meet the family contribution. Since this loan is sometimes considered as a resource to meet your demonstrated financial need, it may not be available to help reduce the family contribution. For those with partial or no Stafford loan included in their financial aid award, you may contact the Financial Aid Office to determine if you can secure this resource.

Although students and parents are primarily responsible for college costs, we know that each family's situation is unique and, often, complex. Our goal is to determine a realistic expectation from each family, based on federal regulations and Gustavus' own policies. This expectation includes a parents' contribution, a student contribution based on prior year earnings, and a portion of the student's savings and assets.

Gustavus uses the Federal Methodology need analysis formula to determine eligibility for federal and state funds.   The FAFSA determined EFC may not reflect the amount you and your parents will pay for your 2008-2009 college expenses.  In measuring need for institutional scholarship assistance, the Financial Aid Office will review both the impact of the family's asset liquidity and special circumstances in determining an equitable family contribution.  If your family has special circumstances or unusual expenses, or you have any other information that will help us understand their financial situation more completely, please send us a letter detailing that information. A signed copy of your parents’ 2007 federal tax return must be included before a review of special circumstances will be considered.

• Any errors we discover while verifying the financial information you report may change the amount of your award.
• Newly issued federal or state regulations may change your eligibility.
• Alterations to federal or state programs could change the amount of your award. Assistance received from a source not listed on your most recent Financial Aid Award Notification may affect your eligibility for some programs (including, but not limited to, outside scholarships and the like.).
• Failure to make satisfactory academic progress as stated in the Gustavus Catalog or failure to maintain full-time enrollment may change your eligibility for some forms of assistance.
• Your award may be changed if we discover a clerical or other error on your award, regardless of the reason for the error.
• If you don’t complete all required financial aid applications for federal, state and institutional need-based aid, your award may change.

Student Employment is a part of most need-based financial aid packages.  Funds come from Gustavus, the state of Minnesota, or the federal government.  This award is an opportunity to work on campus, typically for 10-12 hours per week.  Unlike other kinds of financial aid, student employment earnings are delivered to you in the form of a monthly paycheck.  Wages can be used to help with day-to-day expenses or can be used as a payment toward the tuition bill.  More information about job placement will be sent to you over the summer months.  You are not obliged to participate in student employment, but Gustavus cannot provide other financial aid beyond loans to replace employment.  Outside scholarships may be used to replace employment upon your request.

Federal Pell Grants are need-based grants provided by the federal government based on reported FAFSA data.  Federal Pell Grants are directed to students with higher need for financial assistance.

Federal SEOG (Supplemental Educational Opportunity Grants) are need-based grants provided through a combination of funds from the federal government and Gustavus.  Federal SEOG is directed to higher need students who also qualify for a Federal Pell Grant.

Academic Competitiveness Grants (ACGs) are Federal Student Aid grants awarded to first and second year students who meet eligibility requirements.  Recipients must be eligible for a Federal Pell Grant and must have completed a rigorous high school program and meet other eligibility criteria. 

• Are U.S citizens
• Have a Pell Grant award
• Are enrolled in the first or second year of their programs of study (“undeclared majors” are eligible)
• Are enrolled full time (at least 3 credits per semester)
• Have completed a “rigorous” high school curriculum.
• Are first year students who graduated from high school after January 1, 2006 and have not previously enrolled in an undergraduate program. College courses taken while in high school will not affect eligibility OR
• Are second year students who graduated from high school after January 1, 2005 and have a 3.0 GPA (at the time student becomes a second year student).

ACG will provide up to $750 for the first year of study and $1,300 for the second year of study.

National Science and Mathematics Access to Retain Talent (SMART) Grants are federal grants available to third and fourth year undergraduate students who:

• Are US citizens and
• Have a Pell Grant award and
• Are enrolled full time (12 units verified on the census date at the end of third week of each quarter) and
• Major in physical, life, or computer science, engineering, mathematics, technology, or a critical foreign language and
• Have and maintain at least a cumulative 3.0 GPA for each semester of eligibility. Students admitted as juniors for fall 2008 will have their initial eligibility based on their transfer GPA.
  

SMART Grants will provide up to $4000 for the third and fourth year of study.

The Teacher Education Assistance for College and Higher Education Grant Program (TEACH) is a federal grant which provides up to $4,000 a year in grant aid to college students who plan to become teachers, as well as current teachers who pursue graduate degrees. Grant recipients agree to serve as a full-time teacher in a “high need” school and teach a “high need” subject for at least four academic years within eight years of finishing the program for which the person received the aid.

Eligibility:

Students need to meet basic eligibility requirements (there is no Expected Family Contribution (EFC) limitation for this grant), complete the Free Application for Federal Student Aid, FAFSA and:

• must be currently completing coursework necessary to begin a career in teaching; or
• plan on completing coursework necessary to begin a career in teaching.

Academic requirements

• have at least a 3.25 GPA for each payment period;
• have a score above the 75th percentile on an admissions test, such as the SAT, ACT or GRE (for first year, first time enrolled students)

Agreement to serve/Promise to Pay

Academic requirements

• Students must sign an understanding of terms to certify that they understand the terms of the grant and the terms of their teaching service requirements.
• The student must teach full-time for at least four years within eight years of completing program as a
  --highly qualified teacher;
  --at a Title I school;
  --in a specified subject area (mathematics, science, a foreign language, bilingual education, special education, as a reading specialist, and other “high-need" fields).
• If service is not met, the grant must be repaid as an Unsubsidized Direct Stafford Loan, with interest from the date(s) of original disbursement.

School

The college the student attends must:

Academic requirements

• provide high quality teacher preparation and professional development services;
• provide pedagogical course work, or assistance in the provision of such coursework;
• provide supervision and support services to teachers;
• participate in Federal Student Aid programs.

Undergraduates need a 3.25 grade point average to qualify; if the student is a freshman, the cumulative high school record counts.

If recipients can’t or decide not to finish their academic programs or fail to follow through on their four-year teaching obligation, the grants are treated as unsubsidized direct loans to be repaid with interest. Students can begin accepting the grants as early as their freshman year of college, meaning that their loans could accumulate over several years. (Undergraduates, graduate students, and students enrolled in post-baccalaureate teacher credential programs are among those eligible for the program.)

Minnesota State Grants are need-based grants for students from Minnesota.  Funds are provided by the state of Minnesota.  If you are a state grant recipient, you must be enrolled in 3.75 credits each semester in order to retain your full grant eligibility.  You may use your January Interim Experience credit to meet the 3.75 requirement.  Because only 2 January Interim Experience credits can be used toward graduation requirements, state grant recipients must monitor course enrollment carefully each year.  Only credits which can be used toward graduation requirement can be counted for state grant eligibility.  For more information, visit the Minnesota Higher Education Services Office web site or contact the Financial Aid Office.

Federal Direct Stafford Loans are loans made to the student.  Funds are provided by the Department of Education and guaranteed by the federal government.  No credit history is required to qualify for this loan.  The standard repayment term is 10 years.  The interest rate is 6.8%.  No payments are required until six months after you graduate or drop below half-time enrollment.  If you have been awarded a Subsidized Federal Direct Stafford Loan, the federal government will pay the interest while you are enrolled in college at least half-time.  If you have an Unsubsidized Federal Direct Stafford Loan, you will be immediately responsible for the interest.  Repayment deferments are available for graduate school and other circumstances.  Additional information about federal direct Stafford loans can be found at http://www.ed.gov/offices/OSFAP/DirectLoan/index.html.

Annual Stafford Loan borrowing limits:

• First-Year:  $3,500
• Sophomore:  $4,500
• Junior or Senior:  $5,500

Beginning 2008-2009 students at all grade levels are eligible for an additional $2000 Unsubsidized Stafford Loan. If your award letter shows less than the maximum for your grade level and you need to borrow more, contact the Financial Aid Office.

Please contact the Financial Aid Office if you would like to decline or reduce your Stafford Loan.  Details on the Federal Stafford Loan program can be found at http://www.ed.gov/offices/OSFAP/DirectLoan/index.html.

Federal Perkins Loans are student loans generally directed to students with a higher level of need for financial aid.  No credit history is required to qualify for this loan.  Funds for this loan come from the federal government and from Gustavus alumni who are repaying their Perkins Loans.  The standard repayment term is 10 years and the interest rate is fixed at 5%.  Repayment deferments are available for graduate school and other circumstances.  You are not obliged to accept a Perkins Loan.  Please contact the Financial Aid Office if you would like to decline your Perkins Loan.  More information can be found at http://gustavus.edu/finance/federalperkinsloan.php.

Outside Scholarships are scholarships awarded by civic groups, religious institutions, high schools, and other organizations.  If you notified us that you will receive an outside scholarship, it should be listed as part of your financial aid package.  Please contact the Financial Aid Office if an outside scholarship is missing from your award letter or if an outside scholarship is listed in error.  Outside scholarships are incorporated into financial aid packages according to Gustavus’ outside scholarship policy.

Your award letter will include a brief explanation of the reason(s) for any major changes. The most common reasons for decreases in demonstrated need and, therefore, eligibility for aid are: an increase in the parent's income or assets, fewer family members in the household, fewer family members enrolled in college or graduate school (if considered in the prior year).

So that students can receive the full benefit of outside awards, Gustavus will initially reduce a student's loan and/or employment eligibility by the full amount of the outside scholarship.  If the scholarship exceeds the self help amount awarded, the scholarship will be used to fill any unmet need.  We will not reduce any campus based scholarship/grant assistance unless the total aid exceeds your demonstrated financial need or cost of attendance.

Church scholarships must be received by our office on August 31st to receive 100% matching funds.  Scholarship monies received after that date will be matched 50%.

Gustavus' policy for calculating the financial need of students from divorced or separated families is based on the principle that both natural parents have an obligation to contribute to their children's educational costs, despite any legal documents or decrees to the contrary. According to federal regulations, the financial aid information of the custodial unit must be used to determine eligibility for federal funds. However, for Gustavus scholarship purposes, we may request additional information from the noncustodial parent to assess overall family support available to a student. A contribution is not expected from more than two parents.

The Office of Student Financial Assistance is located in the upper level of the Carlson Administrative building on campus.