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Types of Financial Aid

Overview

The philosophy of the Financial Aid Office at George Stone Technical College is that everyone desiring training should have the opportunity to attend school, regardless of his/her financial situation. We promote financial assistance opportunities to eligible students who might otherwise be deprived of the benefit of technical training. Financial assistance is offered in the form of grants, scholarships, and federally funded programs. Financial assistance is viewed only as supplementary. The student and the family of a student are expected to make a maximum effort to assist with educational expenses. Any prospective student or currently enrolled student may apply for financial aid.

Federal Financial Aid

Federal Financial Aid is awarded based on "need" and provided as a grant by the federal government. When a student applied for financial aid, the information reported on the Free Application for Federal Student Aid (FAFSA) is used to calculate the Expected Family Contribution (EFC). The EFC is used to determine the student's eligibility for federal student aid and other types of financial aid. The amount of federal financial aid that the student receives depends on the student's EFC, cost of attendance, enrollment status, enrollment date and whether the student attends for a full academic year. George Stone's academic year is defined as 900 clock hours and 36 weeks of instructional time for full-time enrollment.

PELL Grants

PELL Grants are available to students demonstrating financial need. A FAFSA must be completed electronically at www.FAFSA.gov. Please include George Stone's school code 016280. Eligibility is determined by the Financial Aid Office.

Satisfactory Academic Progress (SAP)

Federal regulations require all Title IV institutions to have a SAP policy in place to ensure that students are progressing through their program at a reasonable rate and are making progress towards program completion. The financial aid office at GSTC will monitor a student’s academic progress at the end of each payment period. SAP standards at GSTC consist of the following qualitative and quantitative measures of progress:

  • Maintain a minimum 83% cumulative attendance rate for the student’s program.
  • Maintain a minimum cumulative GPA of 2.0 (numeric equivalent of 70) for the student’s program.
  • Maintain the ability to complete the program within the 150% maximum timeframe. The maximum timeframe is a period no longer than 150% of the published length of the program, measured by the cumulative number of clock hours the student is required to complete and expressed in calendar time. A student in a clock hour program cannot receive aid for more hours than in the program. The maximum timeframe applies to the amount of calendar time the student takes to complete those hours.

Failure to maintain an 83% cumulative attendance rate or a GPA of 2.0 in a program will result in the student being placed on SAP warning for the next payment period. Students placed on warning will remain eligible for financial aid for the warning period.

Students who fail to maintain SAP during their warning period will no longer be eligible for financial aid. In addition, students who do not maintain the ability to complete the program within the 150% timeframe will no longer be eligible for financial aid. There will be no appeal process or probation period. Reinstatement of financial aid that has been terminated requires the student to attend a subsequent warning period, not to exceed one payment period, and maintain SAP. Fees must be current for reinstatement.

Orientation for students is provided online during the application process and is required prior to enrollment. SAP policies and procedures are referenced in the orientation; however, it remains the student's responsibility to be aware of the SAP policy and the consequences of failing to maintain SAP.

PELL Grant Disbursements

Attendance directly affects the timing of disbursements for students receiving Pell grants. A student must meet minimum attendance hours before Pell grants are disbursed. Disbursement dates may vary depending on the length of time taken to complete the required attendance hours and is determined by the actual number of attended hours. In addition, a student must maintain SAP requirements to receive a disbursement. If a student withdraws from school, the Pell disbursement is recalculated based on the amount of assistance earned during the payment period.

Professional Judgement

GSTC understands that there can be unusual situations or special circumstances that impact a student's federal student aid eligibility. Federal regulations give a financial aid administrator discretion or professional judgement to evaluate unusual situations or special circumstances on a case-by-case basis. The decisions made by the financial aid administrator regarding professional judgement are final. A student cannot appeal to the GSTC Administration or to the U.S. Department of Education. Please contact the financial aid office for more information.

Return of Title IV/Repayments

When a student is withdrawn from a program, the Financial Aid Administrator has 30 days from the withdrawal date to complete appropriate paperwork. With the completion of appropriate paperwork, GSTC’s Fiscal Manager and the District Finance Office has 15 days to return the monies to the Department of Education (DOE). During the application/interview process, each student is made aware of potential financial obligations and consequences for completing and/or withdrawing before a payment period is completed. Upon withdrawal a letter is sent to the student informing him/her of the balance owed to GSTC and the consequences of the failure to pay the balance owed. If the debt is with GSTC, the student is informed that they will not be allowed to register again until debt is cleared. If the overpayment is with the Federal Government, the student is informed they will not be eligible for Title IV aid until the overpayment is cleared. They are also given a due date of 45 days from the date on the letter to pay the overpayment to GSTC or set up acceptable payment arrangements. Failure to comply with these requirements will result in a referral of the debt to the DOE. If the student receives less Pell Grant monies than the amount earned, GSTC will make a disbursement of the earned aid that was not disbursed if student has met all eligibility requirements. GSTC will credit a student’s account with a post withdrawal disbursement for current tuition and fees. Earned funds in excess of tuition/fees will be provided to the student. GSTC will notify the student within 30 days of the withdrawal as to the amount of Title IV disbursement available. GSTC will disburse the funds to the student within 45 days of the date the school determines the student withdrew. If the student cannot be located, or refuses the funds as per a written and signed statement, the funds will then be returned to the Federal Pell Grant Program.

Florida Student Assistance Grant

Florida Student Assistance Grants (FSAG) is a state funded need-based grant automatically awarded to qualifying postsecondary students. Students must complete the FAFSA and be eligible for the Federal Pell Grant. Eligibility is determined by the Financial Aid Office. Amount of award is based on availability of funds and the number of eligible students.

Florida Prepaid

Florida Prepaid is accepted at GSTC. Students should provide a card or letter of verification when enrolling.

Student Financial Assistance Fund

The Student Financial Assistance Fund (SFAF) is available to provide tuition assistance to eligible students demonstrating financial need who are enrolled in non-Pell eligible programs. Assistance is awarded based on availability of funds. All prospective students must complete a FAFSA. Eligibility is determined by the Financial Aid Office.

Vocational Rehabilitation

Vocational Rehabilitation is a service to conserve the working usefulness of persons with impairment who have reasonable expectations of becoming employed. Students who may qualify for vocational rehabilitation aid to attend GSTC are encouraged to contact the office of Vocational Rehabilitation.

Workforce Innovation and Opportunity Act

Workforce Innovation and Opportunity Act (WIOA) funds are available for individuals who are financially and/or educationally disadvantaged. WIOA can assist eligible students with tuition, books, and supplies. Students who may qualify for WIOA are encouraged to contact the WIOA office.

Open Door/Last Dollar Grant

The Open Door/Last Dollar Grant helps create a demand-driven supply of credentialed workers for high-demand occupations and expands the affordability of workforce training, certification, and credentialing programs. Funds are awarded on a first-come, first-serve basis. Subject to the availability of funds, students must meet the following criteria in order for eligibility:

  • Enrolled full-time in an eligible program
  • Florida State resident
  • Unemployed, underemployed or furloughed and meet all requirements set by the institution
  • Complete the school’s Last Dollar Grant Application.

Student Loan Programs

George Stone Technical Center does not participate in any federal student loan programs.