Frequently Asked QuestionsWhat is the Institutional Application and why must it be completed? The Institutional application is a Granite State College requirement that helps us customize your award package based on your wants and needs. This form also helps identify outside resources that affect your eligibility and notifies GSC of your selection for a Stafford Loan Lender if requesting loan aid. When will I receive my award notification? Awards are generally processed within 5 business days once all requirements have been completed correctly and you should receive an award letter within two weeks of completion of all GSC requirements. *Requirements and Award amounts may be viewed through your WEBROCK account. When can I expect my disbursement of funds? Providing all requirements are completed correctly, disbursements are made on a weekly basis. However, there are many factors that determine the actual time period.
When can I expect my refund? Refunds are sent within 2 weeks from the time your aid is disbursed to your account. Please check WEBROCK for information on your disbursements and refunds. *Checks are printed and mailed once a week on Tuesdays. What is the refund policy if I drop a course? Learners who wish to drop a course(s) are required to return all college property and file a “Change in Registration” form available at all centers. Learners who drop a course before the end of the second week of class for a standard 12-week course are entitled to a 100% tuition refund during the Fall, Winter, and Spring terms. Because of the abbreviated Summer term, learners must drop a course before the end of the first week of class to be entitled to a 100% tuition refund. Registration, academic services, and all other fees are nonrefundable. Refunds are not issued for course withdrawals after the add/drop deadline. For weekend courses or those that begin later than the first week classes, specific drop dates are noted in each term’s course listing/flyer. If a specific drop date is not denoted, the standard add/drop deadline will apply. Courses of unusually short duration (one or two sessions) must be dropped via the “Change in Registration” form prior to the first session to be eligible for a refund. No refund will be issued for short duration classes after the first class meeting. No refund will be issued for learning contracts after the contract term has begun. Can I get money to pay for my books and supplies? Unfortunately, financial aid funds are not available until after the add/drop period if all requirements are completed before the start of the new term. How do I make a change to my award? To change your financial award, please complete the Award Revision Request form and submit it to the FA Office. Please contact the Financial Aid Office with any questions or concerns about your eligibility. How do I know if I need to complete a Revision Request Form? If you are a student who attends a term not originally planned for or you want to increase or decrease your loans awarded, then you would want to complete an Award Revision Request Form. Why was I selected for verification and how does this affect my award? Verification is the process used by the Department of Education to audit FAFSA submissions. Federal regulations require 1/3 rd of all FAFSA submissions to be verified for accuracy. You are required to submit all added document requirements for review before your award may be packaged. Please check your WEBROCK account for any added requirements. What is the Entrance Interview and why must it be completed? The Entrance Interview is a federal requirement for all students borrowing Stafford loans. It explains your rights and responsibility associated with the Stafford loan program. What is an MPN and why must I sign it? MPN stands for Master Promissory Note. The MPN is the agreement between you and your lender regarding repayment terms for your federal loans. |