Tuition & Financial Aid

Glasgow Caledonian New York College’s tuition rate for the 2020-2021 academic year is $991.38 per credit. The full cost of tuition for each 36-credit master’s program is $35,690*.

*Please note that GCNYC does not assess any additional college fees.

Students at GCNYC are eligible to apply for only the federal Direct Unsubsidized and Grad PLUS loans.

Direct Unsubsidized Loan

A federal Direct Unsubsidized Loan is not based on the student’s financial need, but students must also meet specific eligibility requirements. Interest is charged throughout the life of the loan. The borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized (added to the loan principal). Direct Unsubsidized Loan is not based on credit history.

The annual loan limit is $20,500.

Grad PLUS Loan

The federal Grad PLUS loan is not based on the student’s financial need, but students must also meet specific eligibility requirements. The annual limit is equal to the student’s cost of attendance, minus any other financial aid the student is receiving. Applicants are required to pass a credit check. PLUS loans carry a fixed rate and an origination fee. Certain borrowers may also be required to complete a federal PLUS loan counseling before the loan is originated and disbursed.

Before you can receive a Grad PLUS Loan, you must complete a Direct PLUS Loan Master Promissory Note (MPN), which explains all the terms and conditions of the loan and constitute your legally binding agreement to repay all the Grad PLUS Loan you receive. Someone with an adverse credit history can qualify for a Grad PLUS Loan by securing an endorser.

Aggregate Loan Limits

Period of Enrollment

The period of enrollment for which a direct loan is intended must coincide with an academic period established by the College for which institutional charges are generally accessed. Therefore, the period of enrollment for GCNYC is fall, winter and spring trimesters.

Scholarships

Scholarships: At GCNYC we believe that a college education is an investment for a brighter future. Our institutional commitment to furthering our mission For the Common Good and our equally strong desire to build a diverse academic community made up of passionate students, regardless of financial circumstances, means that GCNYC makes every reasonable attempt to help qualified students.

In this spirit we are proud to offer merit-based Common Good scholarships, with several specific criteria attached to them. The Admissions team can help determine eligibility.

• FAFSA Completion: The first step in applying for federal student aid is to complete the Free Application for Federal Student Aid (FAFSA).
• Must be admitted to a graduate degree program
• Must be enrolled in at least 8 trimester credit hours for loans
• Must be a US citizen or eligible non-citizen (permanent residents and certain refugees)
• Must be registered for selective service (only applies to males aged 18 or older)
• Must not be in default on a federal student loan, or owe a refund on a federal student aid grant
• Must have a valid social security number
• Student must be meeting the Standards of Academic Progress (SAP) policy

1. Create your FSA ID
2. Complete the FAFSA
3. Add GCNYC School Code: 042828
4. Complete the Entrance Counseling for Direct Unsubsidized and Grad PLUS Loan Here
5. Sign Master Promissory Note for Direct Unsubsidized Loan Here
6. Sign Master Promissory Note for Grad PLUS Loan Here

1. FAFSA Institutional Student Information Record (ISIR) is received from the federal processor and reviewed for completeness and correctness.
2. Student eligibility for federal student aid is evaluated
3. Award of Direct Unsubsidized Loan and Grad PLUS Loan is made
4. Award information is sent to student via the assigned College e-mail account
5. Loan cancellation and Reduction form is attached with the Award Letter

What is Entrance Counseling?

If you have not previously received a federal Direct Loan or a Federal Family Education Loan (FFEL), the federal government requires that you complete an entrance counseling to ensure that you understand the responsibilities and obligations that you are assuming.

If you are completing the entrance counseling to borrow a loan as a graduate or professional student, the entrance counseling will fulfill counseling requirements for the Direct Unsubsidized and Grad PLUS Loans.

Click here for Entrance Counseling

What is Exit Counseling?

Exit counseling provides important information to prepare you to repay your federal student loan(s).

If you received a subsidized, unsubsidized or PLUS or Grad PLUS loan under the Direct Loan Program, or the FFEL Program, you must complete the exit counseling each time you:

• Drop below half-time enrollment
• Graduate
• Leave school

Click here for Exit Counseling

• Federal Direct loan Unsubsidized and Grad PLUS loans are originated with Common Origination and Disbursement (COD)
• Entrance Counseling completion is verified
• Attendance is verified. Student must be enrolled in at least 8 trimester credit hours, and currently be in attendance when loan funds are credited to the student’s account
• Student account is credited after verification of attendance
• Credit balance check is issued to the student within 14 days of the credit balance date
• First time loan recipients may have to wait for 30 days after classes start to receive loan proceeds

A student has the right to cancel all or a portion of the federal Direct Unsubsidized and Grad PLUS loans at any time before the loan is disbursed. Student must notify the College within 14 days before the loan is applied to your charges and a credit balance check disbursed to you. Complete the Loan Cancellation and Reduction Form, and send it to the Financial Aid Office at financialaid@gcnyc.com

Federal Title IV regulations governing the administration of the federal student financial assistance require schools to establish a reasonable satisfactory academic progress (SAP) policy for determining whether an otherwise eligible student is making satisfactory progress in his or her educational program, and may receive assistance under the Title IV, HEA programs.

The satisfactory academic progress policy has three component parts, qualitative (GPA), quantitative (% of completion), and maximum timeframe.

Qualitative: The Cumulative GPA requirement for graduate programs at GCNYC is 3.0.

Quantitative: Students must complete at least 50% of all courses attempted every trimester of enrollment.

Maximum Timeframe: A student cannot receive Title IV, HEA funds at GCNYC if current enrollment may exceed or the student has already exceeded the maximum timeframe of the length of the program of study as defined by the College. The College defines maximum timeframe as 150% of the program, or 54 trimester credit hours. A student exceeding the maximum timeframe has the right to appeal the denial of the federal student aid.

A SAP evaluation for federal Title IV, HEA program purposes will be completed at the end of every spring trimester. Students not meeting the published SAP policy may no longer be eligible to receive the federal student financial assistance unless the student completes the appeals process, and the appeal is approved.

Financial Aid Probation: A student who did not meet the published SAP policy requirements at the end of spring trimester, must file an appeal, and have the appeal approved to continue receiving federal student financial aid assistance. The student is placed on Financial Aid Probation upon approval of his or her appeal. The probation period is for term only. A student may be placed on an Academic Plan as part of the appeal process. Such academic plan must ensure that the student meets the SAP policy in a short amount of time.

Financial Aid Suspension: A student who was placed on Financial Aid Probation as a result of the appeal process, and who did not meet the terms of the approval, and also did not meet the published SAP policy will be placed on Financial Aid Suspension. The student will no longer be eligible to receive the federal student financial assistance at the College. To regain eligibility and reinstatement, the student must pay for own College costs, meet the published SAP requirements, then re-appeal for reinstatement.

Maximum Timeframe: A student who has exceeded the maximum timeframe, or will exceed the maximum timeframe with current enrollment will no longer be eligible to receive the federal student financial aid assistance. The student must appeal and state the reason why he or she failed to complete the program by the allowable maximum timeframe period. The appeal must be approved for the student to continue receiving federal student financial assistance.

It is the responsibility of the student to initiate the appeal process after receiving notification from the College that he or she is no longer eligible to receive federal student financial assistance by completing the Appeal Form.

• All course work taken at the College whether a course grade was received or not will be counted as part of the attempted course work, and it will be used in determining the maximum timeframe eligibility used.
• A student whose financial aid has been suspended can appeal that decision by going through the appeal process by completing the appeal form.
• The appeal form must be supported with acceptable documentation showing extraordinary circumstances beyond the student’s control as a reason for not meeting the published SAP policy.
• Death, serious injury or the hospitalization of an immediate family member may be an acceptable reason for not meeting the SAP policy
• Loss of job, loss of transportation, found a job after classes start, childcare issues, or lost interest in the course are not acceptable reasons for not meeting the SAP policy.

The appeal must include the following:

1. Why the student failed to meet the published SAP policy.
2. What has changed, and what the student has done to ensure that henceforth, he or she will meet the published SAP policy.

The decision of the Financial Aid Officer is final.

A student whose financial appeal was denied can regain reinstatement by paying for his or her own Colleges costs and meet the published SAP policy. The student must re-appeal and the appeal approved to gain reinstatement.

Refunds are based on the following schedule:

• By 5pm on the Friday prior to the first class meeting 100%
• By 5pm on the Friday of the first week of classes 75%
• By 5pm on the Friday of the second week of classes 50%
• By 5pm on the Friday of the third week of classes 25%
• Thereafter 0%

Federal student financial aid is awarded to a student with the expectation that the student will complete all the courses for the trimester for which financial aid was received. If the student completely withdraws from all the courses, whether officially, or unofficially, before the 60% point of the trimester, the College is required to perform a Return of Title IV Funds calculation to determine what percentage of the financial aid the student received was earned by the student. A student may have to return a portion of the financial aid received if he or she was not in attendance up to the 60% point in the trimester.

In line with federal regulations, unearned Title IV funds will be returned to these programs in the following order:

1. Direct Unsubsidized Loan
2. Grad PLUS Loan

Any unearned portion of the previously disbursed federal student aid will be charged back to the student as a debt owed to the College.

Please note that the Return of Title IV Funds is separate from the College’s Tuition Refund Policy.

Official Withdrawal

Students who are considering withdrawing from GCNYC are strongly encouraged to discuss their situation with their Academic Advisor first. Should a student decide to withdraw then they must notify the Student Learning Coordinator and fully complete the withdrawal form (including gaining all necessary signatures) available on the College’s website.

Unofficial Withdrawal

If a student begins to attend class(es), receives federal Title IV aid, but then stops to attend “all” the courses he or she had enrolled in that trimester without officially withdrawing from the College, the US Department of Education considers that to be an Unofficial withdrawal. The student has not unofficially withdrawn from the College if he or she is still attending at least a class.

Any unearned portion of the previously disbursed federal student aid will be charged back to the student as a debt owed to the College.

Please note that the Return of Title IV Funds is separate from the College’s Tuition Refund Policy.

GCNYC Consumer Information can be found HERE