Types of Student Aid
Money a student receives based on financial need. Grant money award does not have to be paid back.
Scholarship money awarded does not have to be repaid. Eligibility requirements vary.
Money a student borrows that must be paid back.
Money a student earns while attending college; does not have to be repaid.
All students who graduate from KPS, are residing in the district, and have been KPS students four years or more are eligible. (Enrollment and residency must be continuous.) The tuition benefit will be graduated on the basis of length of attendance in the Kalamazoo Public School system.
Student must be admitted to and enrolled at any public State of Michigan university or community college and making regular progress toward a degree or certification, maintaining a 2.0 grade point average at the post-secondary institution and completing a minimum of 12 credit hours. If the GPA drops below 2.0, a student may be reinstated if he/she is able to bring their GPA back to at least a 2.0.
Many private scholarships are offered each year by a variety of corporate, professional, trade, governmental, civic, religious, social, and fraternal organizations. The amounts of the scholarships and deadline dates vary. Applying for private scholarships is time-consuming, so start early.
Check with the Financial Aid Office regularly for information about available private scholarships.
Please note: Some scholarships require full-time enrollment before disbursement.
Students who wish to be considered for the Work-Study program must complete the FAFSA financial aid application process and request a Student Worker application from the Financial Aid Office.
General Information about Student Employment
A basic premise governing need-based financial aid programs is that students and/or families have the primary responsibility to pay for college costs. Part of this expectation is that students, to the extent that they are able, should help pay for their college expenses. Student employment can make an important contribution to available financial resources.
Many students and/or families assume that it is unwise for students to work during the academic year. However, compared to students who do not work, studies show that students who work a modest number of hours per week–no more than fifteen–will, on average:
- Have higher grade point averages,
- Graduate at a faster rate,
- Be less likely to drop out, and
- Have important job skills to include on their resumes.
Why? Some possible explanations are:
- Working students become better organized and manage their time better.
- Employment exposes students to more mentor-type relationships and increases interactions with “real world” people.
Employment provides financial resources that may be critical to meeting college costs.
Loans are borrowed funds that must be repaid, with interest. As college costs climb, many students and/or families find that supplemental borrowing by the student, or parent, becomes an important resource for financing educational expenses.
Your financial need and grade level determine the types and amounts of loans you receive. The Direct Stafford Subsidized loans are need-based, the Direct Stafford Unsubsidized Loan and the Direct PLUS Loan are non-need based.
Important information for first time loan borrowers as of July 1, 2013: There is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program. This is called your “maximum eligibility period”. You can usually find the published length of any program of study in your school’s catalog.
Note: The difference between the Subsidized and Unsubsidized Direct Loan is that students borrowing the Subsidized Loan do not have interest accruing on the loan while they are enrolled at least half-time; conversely, students borrowing the Unsubsidized Loan have interest accruing while they are enrolled in school. The Unsubsidized Loan does allow you to defer the interest payments until you graduate; however, this will result in a higher loan payment over the life of the loan.
Direct Loan Borrowing Maximums
|Subsidized Base Loan Amount||Additional Unsubsidized Loan Amount
(as of July, 1 2008)
|For All Undergraduates
||For Dependent Undergraduates*||For Independent Undergraduates**|
(0-28 credit hours)
|$3,500||$2,000 ($5,500 total)||$6,000 ($9,500 total)|
(29+ credit hours)
|$4,500||$2,000 ($6,500 total)||$6,000 ($10,500 total)|
|Subsidized Loan Debt
|Total Loan Debt Lifetime Limit (Subsidized + Unsubsidized)
$31,000 (only $23,000 can be subsidized)
$57,000 (only $23,000 can be Subsidized Loan)
*Excluding students whose parents are unable to obtain a PLUS Loan.
**Or dependent students whose parents are unable to obtain a PLUS Loan.
To Apply For Loans
- Complete the Free Application Federal Student Aid (FAFSA) process.
- Submit all required paperwork to the Glen Oaks Financial Aid Office.
- Complete the PLUS loan at studentloans.gov
- All loans are cancelled in case of death or disability of the loan maker.
- To decrease or cancel a loan disbursement, please request a Loan Adjustment Form from the Financial Aid Office.
- Loan disbursement will be cancelled by the Financial Aid Office if the student is enrolled in less than 6 credit hours at the time of disbursement.
is REQUIRED for first-time Direct Loan borrowers (Subsidized and Unsubsidized) who are first-year students. This counseling session will be held in person and helps students develop a budget for managing educational expenses and also helps borrowers understand their loan responsibilities. You must complete the counseling before your loan will be disbursed to you.
is REQUIRED for Direct Loan borrowers (Subsidized and Unsubsidized) who are graduating or are enrolled less than half-time. This counseling session, which is on the U.S. Department of Education’s Direct Loan Servicing site www.studentloans.gov, helps borrowers understand their rights and responsibilities in repayment. You must use your Department of Education FSA ID to access this counseling session.
GOCC has been selected to participate in the Loan Counseling Experiment under the U.S. Department of Education’s Experimental Sites Initiative (ESI). The Loan Counseling Experiment will test the effectiveness of requiring additional loan counseling for student borrowers beyond the required entrance counseling for first-time borrowers. As a returning direct loan borrower, you could be randomly assigned to complete this additional loan counseling before any loan funds are disbursed to you. The Financial Aid Office will notify you if you are required to do so.
No matter which loan program you choose, remember to borrow only what you absolutely need–what you borrow today you will need to pay back (with interest) later! You may not need to borrow as much, if at all, if you are able to work or cut costs (such as personal/miscellaneous costs). Many students wisely maintain a lower-cost student lifestyle in order to borrow the least amount necessary to cover their college costs. The result is lower debt and loan payments that will be easier to manage after graduation.
Use the repayment calculator on the Department of Education’s Direct Loan website to determine the estimated amount of your monthly payments:
Go to the Interactive Calculators site, select the appropriate monthly repayment calculator (Standard/Extended/Graduated or Income Contingent), and provide the following information:
- Loan Type: Select “Direct Stafford/Ford” (not PLUS).
- Loan Amount: Type in the “Projected Total” amount of your Direct Stafford Loan
Once you’ve typed in the above information in the calculator fields, click on the “Calculate” button. If you select the “Details” button next to the appropriate repayment plan, you will see more information about your loan repayment (how much of your repayment will be interest, etc.)