2009–2010 - Grove City College

Expenses and Financial Aid / 23
The Grove City College Student Loan
Individuals who are at least half-time students of Grove City College and who are US
citizens or permanent US residents are eligible to borrow under the Grove City College
Student Loan Program. Loans under this program are not based on need or credit-worthiness,
co-signers are required for students under 18 years of age. The annual amount available
for freshmen and sophomores is limited to the cost of education less other financial aid,
not to exceed $8,500. The annual amount available for juniors and seniors is limited to the
cost of education less other financial aid, not to exceed $15,000 per year, for a lifetime maximum
of $45,000. There is an origination fee for loans under this program, and interest is
variable quarterly based on the 91-day U.S. Treasury Bill rate plus a margin. Repayment of
the loan may be deferred until the student leaves school.
All students who receive a Grove City College Student Loan must attend a Collegesponsored
seminar on debt management after receiving their first loan, in order to receive
any additional loans. A second seminar, on credit, is required during their sophomore year.
Applications for loans should be completed three weeks prior to needing the funds for
payment.
ACADEMIC PROGRESS
Grove City College defines academic progress as earning a minimum of 24 credit hours
during a single academic year (September through August). Students must make academic
progress to remain eligible for financial aid from the College and for the GCC Student Loan.
Additionally, students may be subject to the academic progress standard for scholarships,
grants or loans received from sources outside of Grove City College, such as PHEAA State
Grants and should refer to the guidelines for each program for complete details.
The College’s Financial Aid Office reviews all academic records at the conclusion of
each academic year to ensure students are making academic progress and to determine eligibility
for the College’s Student Loan program. A student who drops courses; withdraws
entirely from a semester; or receives either “F – failing” or “I – incomplete” grades may fall
below the minimum of 24 earned credit hours required for satisfactory academic progress.
These students will be ineligible to receive financial aid from the College and through the
Grove City College Student Loan Program until academic progress has been made.
A student who fails to make academic progress and is denied financial aid may submit
a written appeal, with supporting documentation, to the College’s Financial Aid Office within
14 days of being denied financial aid.
WORK OPPORTUNITIES
A number of positions are available on campus for students who need to support themselves
financially. Students who excel in some fields are often given an opportunity to serve
as departmental, laboratory, or library assistants. Applications for work on campus may be
filed with the Student Employment Office. Applications for incoming freshmen are distributed
in their freshman orientation packets. Priority is given to students with financial
need demonstrated through the College’s aid application. There are limited openings for
part-time work in the local Grove City community.