How Aid is Determined

There are two types of calculations used to determine a student's financial aid offer. The following definitions are required to understand these calculations:

- - Cost of Attendance (COA) is an estimate of educational expenses that a student may incur while attending GCC. The COA includes estimates for tuition and fees, books and supplies, room and board, transportation, miscellaneous expenses, and loan fees (Direct Loan borrowers only). To learn more about a program’s COA, review GCC’s Cost of Attendance.
  - The Student Aid Index (SAI) is calculated according to a formula established by federal law and is based on the information reported on the FAFSA. This information may include the student’s family’s taxed and untaxed income, assets, and benefits, as well as family size.

Financial Need Aid Calculation: COA -SAI - Other Financial Aid (OFA)= Financial Need.
Financial need is the student's eligibility for the following need-based programs: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), state grants, GCC need-based grants, Federal Work-Study (FWS) and Direct Subsidized Loans.

Non-Need-Based Aid Calculation: COA minus need-based aid offered equals eligibility for non-need-based aid. Non-need-based aid is financial aid that is not based on a student’s SAI. The student's COA and offered financial aid is what matters in the calculation. Non-need-based programs include Direct Unsubsidized Loans, Direct PLUS Loans, and Private Loans.

Financial aid is offered for an academic year or remaining period of study and distributed equally between the terms or payment periods that define the academic year or remaining period of study.

Direct loan proration is required when a student is enrolled in a remaining period of study that is shorter than a full academic year.

Direct loans are offered to maximum eligibility or a per term amount based on academic program. If less than maximum eligibility is offered, the student’s financial aid offer will indicate the possibility for additional eligibility. Students can contact the Financial Aid Office to discuss their options. GCC promotes responsible borrowing to minimize student loan debt upon graduation.