No one pays for college alone. There is a system of scholarships, grants, and loans in place that help make college affordable for students and their families by sharing the costs of a college education. But how do you access that system? Where do you go to get money for college? What kind of aid are you eligible to receive?
The Office of Student Financial Planning works with students and their families to find ways to pay for college. This office oversees scholarships, grants, and loans. Financial Planning is here to answer questions about the FAFSA (Free Application for Federal Student Aid) and the loan application process. Your aid package comes from Financial Planning. The Financial Planning office does not accept bill payments.
Completing Your FAFSA: What You Need to Know
Each incoming student should complete a FAFSA, regardless of family income. FAFSA completion is the only way for students to receive need-based aid in the form of grants (money you do not have to pay back) and/or loans (money you do have to pay back). Visit www.FAFSA.gov for more information about what you will need to complete your FAFSA. If you list our school code (001964) on the FAFSA, GC will receive your information electronically. It is a good idea to file your FAFSA as soon as possible so that state and federal funds are available to help you pay for school; many years, state funds run out. The FAFSA opens annually on October 1 and will allow you to get funding for the upcoming school year. If you accept federal and/or state aid, you will need to file your FAFSA every year that you are in college.
The federal government may randomly select students who fill out a FASFA for a process called FAFSA verification. If that happens, students must provide the information requested or they will not be eligible for state or federal aid. If you are selected, visit www.kheaaverify.com to complete verification. If you have questions, the staff in the Office of Student Financial Planning will be happy to help you through the process.
Loans and Scholarships: What’s the Difference?
Students primarily use two forms of funding to pay for college: loans and scholarships. Scholarships are money given to a student based on specific characteristics, such as academic or athletic ability. Scholarship money never has to be paid back. Loans are money borrowed by a student or the student’s parents. Loan money has to be paid back once a student graduates or leaves college. If loans are part of your college affordability plan, it is prudent to choose those with the lowest interest rate. Talk to the Office of Student Financial Planning for assistance determining what loan is best for your particular situation.
Other forms of aid that do not need to be paid back include grants (such as the Opportunity Grant) and, for in-state students, KEES money. Students might be eligible for this aid based on factors like their high school grades or overall financial need. It is important to file a FAFSA as soon as it opens each year in order to receive as much free money as possible, especially since state grants can run out.
Quick Tips for Taking Out Loans: Entrance Counseling and Master Promissory Notes
When students request a loan, they need to complete a process called entrance counseling. Students also need to sign a master promissory note for their loans. Financial Planning cannot add loans to a student’s bill to help them pay for college until the student has taken these steps. To complete this process, visit studentaid.gov. You will need your FSA user ID and password, which is the same information that you use to file your FAFSA, to complete this process.
If a parent decides to take out a Parent Plus loan to help their child pay for college, the parent must also visit studentaid.gov to apply for this loan. They will also need their FSA user ID and password to complete the credit check process. If the parent is approved, they will need to complete a master promissory note as well. If the parent is declined, the student will qualify for additional unsubsidized loans in their own name.
Outside Scholarships and Work-Study: Where to Look for More Aid
Georgetown keeps a list of outside scholarships that may help make college more affordable for students. You can find this information at https://www.georgetowncollege.edu/admissions/financing-your-education/scholarships. Many of these scholarships are renewable (you can get them for all four years of college), but there are also often GPA requirements associated with maintaining them. Outside scholarships will reduce the total amount you owe for college (we stack these scholarships on top of any other GC aid you are already receiving).
Students may also use work-study money to help pay for college. While work-study is often listed on a financial aid letter, this money is not automatically applied to a student’s bill. The initial bill is due before the student is employed and earning work-study. Students must get an on-campus job in order to be eligible for work-study funds. They also have the option to use their wages to help pay for things like car insurance or their cell phone bills. Students who are interested in getting an on-campus job can use TigerNet to help them in their search. To access TigerNet, visit The Portal, click on Departments, and then select Center for Calling and Career. From there, students can click on Resources & Programs, clicking on the TigerNet icon to see a list of current on-campus job postings.
Tips to Make Sure You Get Your Aid: What to Do Before You Arrive
The Office of Student Financial Planning needs a final, official copy of your high school transcript before they can add any aid to your bill. Please make sure that you submit this transcript to Admissions immediately once you graduate from high school.
If you want to use loans to help pay for college, it is important to accept your loans on your financial aid offer. You can do this by checking a box to accept your loans and signing your financial aid offer. The Office of Student Financial Planning cannot apply loans to your account until you complete this process. You must also complete entrance counseling and your master promissory loan in order to receive your loans.
Student Accounts: Paying for College
Now that you know where to go to get money that will help you pay for college, what do you do when it’s time to pay your share of the bill? The Office of Student Accounts collects all payments made to the College. This office sends semester bills, manages student GCards, and offers a payment plan to families through Nelnet. Your bill comes from Student Accounts. This is also the office where you pay your bill.
The Payment Process: What You Need to Know
The Office of Student Accounts e-mails bills to students every semester. Students can give their family members permission to receive an e-mail copy of their bill by going to the Portal and granting FERPA permissions. Students and families can pay their bills with cash or a check at the Student Accounts office, located on the second floor of Highbaugh Hall. There’s also an option to pay online at my.georgetowncollege.edu using a check or credit card. If you choose to pay online, a small service fee will be added to your bill. Payment is due at the beginning of August for the fall semester and at the end of December for the spring semester.
Nelnet: Spreading Out College Costs
What if you cannot pay your portion of the bill in full when tuition is due? In order to help, Georgetown College is pleased to offer a payment plan that allows families to spread out the cost of tuition over a full school year. We have partnered with a company called Nelnet to do this. Through Nelnet, families and students can set up and modify their payment plans, as well as access their plans online 24/7. While there is a small fee to set up the payment plan, you will not be charged interest as you make payments. Please visit https://mycollegepaymentplan.com/georgetown/ to set up a payment plan through Nelnet. For assistance, contact the Office of Student Accounts.
Getting Your GCard: How to Use Your Student ID
The Office of Student Accounts also prints and manages Georgetown College IDs, also known as GCards. Swiping your GCard lets you eat in the Caf, enter the Rec, and check out materials from the LRC. Each semester, students receive a certain amount of Tiger Dollars on their GCard depending on their meal plan. Students can spend Tiger Dollars in the Mulberry (our on-campus coffee shop) and in the C-Store (our on-campus convenience store). Meal plan and Tiger Dollars are automatically loaded to a student’s GCard at the start of the semester. Students and their families can add additional money to a GCard at the Student Accounts office or online at gcard.georgetowncollege.edu. The Tiger Dollars do not roll over from one semester to the next, but any money loaded by the family does.