Types of Financial Aid

GRANTS

Connecticut Independent College Student Grant Program (CCICS) – This grant is available to Connecticut resident undergraduate students enrolled in a degree granting program.  The student must be registered for 6 or more credits per semester may qualify.  It is a grant, so it does not have to be repaid.

Federal Pell Grants (PELL) – Eligibility is based on financial need.  Award amount is dependent upon qualification for federal funds.  Only those students who have not earned a bachelor’s degree are eligible.  A Pell Grant is not a loan, so it does not have to be repaid. 

Federal Supplemental Education Opportunity Grants (FSEOG) – Eligibility is based on exceptional need and it does not have to be repaid.  Pell grant recipients have priority.  Award amount is dependent upon qualification for federal funds.  Only those students who have not earned a bachelor’s degree are eligible.

Academic Competitive Grant (ACG) - This grant is available for Pell Grant recipients enrolled full-time in a degree program.  To be eligible, recipients must have completed a rigorous secondary school program of study.  Students maintaining a GPA of 3.0 or higher may be eligible for an additional award for their second year of study.  The grant is not a loan, so it does not have to be repaid.

LOANS

Federal Stafford Loans – These are subsidized (need-based) or unsubsidized (no need) loans with a fixed interest rate determined as of July 1, 2006.   Interest is applied six months after the student ceases to be at least half-time college studies.  For Unsubsidized Loans, interest is applied the day the loan is disbursed.  Students are responsible for the interest during their enrollment in school for the unsubsidized loan.

Federal PLUS Loan (Parent Loan) – Parents of dependent students may apply for this loan.  Eligibility in not need-based and a good credit history is necessary.  Repayment begins 60 days after disbursement of funds.  Fixed interest rate is set as of July 1, 2006.  Parents may borrow the cost of education minus other aid. 

Additional Federal Unsubsidized Stafford Loan – This loan is available to dependent students whose parents have been denied a PLUS loan.  This is non-need based.  Interest and repayment terms are similar to the Unsubsidized Stafford Loan as described above.

EMPLOYMENT

Federal Work-Study Program (FWSP)

Federal Work-Study funds provide job opportunities for students to earn money while attending school.  The amount of money awarded is based on need and the availability of funds.

SCHOLARSHIPS AND INSTITUTIONAL GRANTS

Institutional grants are normally awarded on the basis of financial need.  Scholarships are awarded based on student’s performances (or potential performance) in their program of study.

INSTITUTIONAL GRANTS

Institutional grants are awarded to students each academic year on the basis of need.  Determination of need is based on the Estimated Family Contribution (EFC) as calculated on the Institutional Student Information Records (ISIR).  The award amount is disbursed equally over the two semesters.  To qualify, the student must be registered for 6 or more credits per semester.  There is no formal application process.  Students automatically apply by completing the FAFSA form and submitting all required documentation.  Students will be notified of amount of grant received upon receipt of Financial Aid Award Notice. 

Students may reapply each academic year by completing a new FAFSA.  Students in good standing (based on Satisfactory Academic Progress) will automatically be awarded a new grant for the second academic year based on the revised Estimated Family Contribution (EFC) as calculated on the Institutional Student Information Records (ISIR). Students will be notified of amount of grant upon receipt of Award Notice.

INSTITUTIONAL SCHOLARSHIPS

Dean’s Scholarship

Awarded to continuing students entering a new academic year who have attained a 4.0 GPA for the prior academic year. There is no formal application process.  Students completing at least 18 credits their first academic year will receive a $2000 award.  Students completing at least 12 credits their first academic year will receive a $1000 award.  The award amount will be disbursed equally over the next two semesters.

President’s Scholarship

Awarded annually to graduates of Hartford area high schools who apply to Goodwin College.  Applicants must be in their senior year, have a GPA of 2.8 and document 100 hours of community service.  Two $2000 scholarships are available at each area high school.  Students must apply by completing the scholarship application form and submitting it along with an application for admission to Goodwin College by August 1 following their senior year.  Winners will be chosen by the Academic Review Committee.  Recipients will be notified before the start of the fall semester.

Goodwin College Matching Scholarship Program

Whenever any full-time student receives a scholarship from any non-profit agency, service club, or similar private organization, Goodwin College will match the amount up to a maximum of $250.00.  Goodwin College will award up to $20,000 per year in aggregate for this program.  To apply for this scholarship, students are required to provide proof of the outside scholarship award to the Financial Aid office prior to the registration date for classes.  Acceptance will be noted on the Financial Aid Award Notice.

Pathways Grant

This grant of $3,000 is awarded, based upon student need, to students that enroll in targeted programs of study.  This award is disbursed evenly over the student’s first four semesters of study.  Eligibility is determined by the Financial Aid Department. 

Goodwin College Alumni Scholarship

The Alumni Scholarship is designed for Goodwin College graduates who have successfully completed one planned academic program and return to the College to enroll in another academic program. The scholarship is directed to graduates with a cumulative grade point average of 3.0.  Students who meet the initial eligibility are awarded $1000.00, ($500 in each of the first two semesters) as long as the student maintains a 2.0 GPA and is attending on at least a half-time basis.  There is no special application process.  Scholarship award will be noted on the Financial Aid award notice. The Alumni Scholarship is funded by Goodwin College.  A maximum of 200 alumni scholarships may be awarded in any single academic year. 

ALTERNATIVE LOAN PROGRAMS

Students needing to borrow additional funds to offset the cost of their education may do so through the following preferred lenders:

            *          SLM Financial Corporation

            *          TFC Credit Corporation

            *          Goodwin College Payment Plan

            *          Campus Door

ADDITIONAL RESOURCES

            *          Community Scholarships

            *          Connecticut Higher Education Supplemental Loan Authority (CHESLA)

            *          Employer Tuition reimbursement

OTHER FUNDING SOURCES

Regional Workforce Development Board

This entity provides funding under the Workforce Investment Act (WIA).  WIA assisst dislocated workers in funding their education through contracts and custom-made programs.

Connecticut Bureau of Rehabilitation Services (BRS)/Workers Compensation Commission

This department provides direct and supportive funds for disabled students attending Goodwin College.  Funds have been received throughWIA offices in Hartford, East Hartford, Manchester, Enfield, Middletown, Meriden, New Britain, Bristol, Willimantic, Waterbury, and others.

Division of Workers Rehabilitation Services

This state agency provides funds for re-training for those individuals who were hurt on the job and can no longer perform that job due to accident/illness.

Connecticut Department of Labor

This entity provides funding for students under the Trade Adjustment Act (TAA).

Job Connection, State Department of Social Services

This program has provided childcare and transportation funds for eligible students during enrollment at Goodwin College.  Goodwin College meets the institutional definition of an Approved Provider under the Workforce Investment Act.

ELIGIBILITY FOR FINANCIAL AID

Students receiving financial aid must meet these eligibility requirements:

*Be enrolled in a degree or certificate program by having completed all the necessary admission steps.

*Be taking 6 or more credits per semester

*Be in good academic standing and making satisfactory academic progress.  See page 21 of College catalog for a complete explanation of Satisfactory Academic Progress.

*Be a citizen or eligible non-citizen of the United States or Trust Territories.

*Not be in default in the repayment of any educational loans or owe a refund on any Title IV grant program at any institution.

*Be registered with the Selective Service if you are a male. Any male born after January 1, 1960, must certify registration with the Selective Service before he can receive any Title IV funds. A signed statement to this effect is acceptable.

APPLYING FOR FINANCIAL AID

The Free Application for Federal Student Aid (FAFSA) is available on-line at www.FAFSA.ed.gov.  With the pin#, a student can apply for all sources of financial assistance awarded by the College as well as all Title IV Programs.  A Financial Aid counselor is available to assist each student in explaining the process of applying on line.  Upon submitting the on-line application, the applicant will have applied for all sources of aid available through the Financial Aid Office.  Please note that the FAFSA application must be submitted even when applying solely for a Federal Stafford Loan.

Applications for Federal Stafford Student Loans (subsidized and unsubsidized) are available from the Financial Aid Office as well as from lending institutions.

The total financial aid application process may take several weeks to complete.  To  facilitate their official registration into individual classes, applicants should make every effort to complete the process as outlined below in a timely fashion.

To be considered, all applicants must complete the following steps:

*Complete the process for admission into a degree or certificate program at Goodwin College.

*Complete and submit the Free Application for Federal Student Aid (FAFSA).

*Submit signed copy of the student’s Federal Income Tax Return (including all attachments and W2s, or if a tax return is not filed, a signed completed, Non-Filer Form with supporting documentation attached when required.

*Dependent Students Only: submit signed copy of the parent’s federal Income Tax Return (including all attachments and W2s, or if a tax return is not filed, a signed completed, Non-Filer Form with supporting documentation attached).

NOTIFICATION OF AWARDS

Students are advised of grants and institutional scholarship amounts in award notices given to the student when processing is complete. These awards are based on information from the FAFSA application, which may be estimated and subject to change. Federal and State awards are not final until the information reported on the FAFSA application has been verified as accurate by the Financial Aid Office.  The award notice is for one academic year (2 semesters) and outlines the types and amounts of aid offered.  All new and revised award notices must be signed by the students. This notification represents the most equitable offer based upon the information provided and the funds available to the College.  The availability of funds from Federal and State programs is subject to federal and state appropriations and to changes in Federal and State legislation and regulations. 

When their financial circumstances change, students are expected to notify the Financial Aid Office so that adjustments on the award package can be made. When outside awards are received, the student is required to notify the Financial Aid Office to assure that these awards are credited to the student and to adjust need-based aid where mandated by Federal and State law.

Students should direct any questions related to financial aid at Goodwin College to the Financial Aid Office.  The Financial Aid Office has extensive information on specific financial aid programs and federal and state regulations.  Before adding or dropping a course, transferring programs, withdrawing from a program or beginning a leave of absence, students must check with the Financial Aid office regarding any financial charges or penalties involved.

Questions regarding procedure or awards should be directed to the Financial Aid Office, Goodwin College, 745 Burnside Avenue, East Hartford, Connecticut.  (860) 727-6723.

TAX CREDIT PROGRAMS

The Hope Scholarship may provide up to $3,000 towards a Goodwin College education.  Eligible students can receive up to a $1,500 tax credit for each of the first two years of college.

The Lifelong Learning Program helps students pay tuition for upgrading job skills or career training.  The Lifelong Learning tax credit is 20% of qualified tuition and fee expenses up to $10,000 per year, for a maximum credit of $2,000 per year. 

For more information on these programs, consult a tax advisor or the IRS.