Student Loans
Because Grove City College does not accept, nor does it certify, any loans under the Federal Family Education Loan Program (Stafford and Parent PLUS Loans) students must select private, alternative loans, which are available from most lenders, in order to borrow. You may also wish to consider:
GCC Student Loan Program - NEW INFORMATION BELOW EFFECTIVE FOR 2011-12 ACADEMIC YEAR - CHANGES ARE IN BOLD PRINT (please read ALL information below before applying)
Students seeking to apply for a Grove City College Student Loan for the 2011-2012 Academic year may do so after May 1, 2011.
For students who decide to make use of student loans to pay for their education, Grove City College is pleased to offer a private loan through PNC Bank.
- Available to GCC students who are U.S. citizens or have permanent resident immigration status and are full-time, degree seeking and making academic progress.
- At time of application student must have a Cumulative Quality Point Average (CQPA) of 2.0 or higher.
- Loan limits:
$12,000 per year for freshman and sophomore year.
$17,000 per year for junior and senior year.
$58,000 lifetime cap.
- Loan amounts cannot exceed the Cost of Education less other financial aid for any academic year.
- There are no fees on the loan.
- Loans are for the academic year with half disbursed for the fall semester and half disbursed for the spring, unless otherwise specified by borrower.
- Students may complete an on-line application.
- If you are a student applicant and/or co-signer and would like to check the status of your application please go to the PNC Bank Grove City College Student Loan page and click on "Check Loan Status" button.
- Borrowers are required to attend 2 College-sponsored seminars on debt management. The first is held after receiving the first loan and prior to receiving any future loans. The second seminar is required for all second year students who have borrowed in order to borrow in the future.
- The Loan will be processed on the Campus Door Origination System. BOTH the student borrower and the cosigner must set up an account on that system by establishing an ID number and password for each individual.
- Allow at least three weeks for processing.
- For more information go to http://www.gcc.pnc.com
Other Loan Options
Read the GCC Outside Scholarship and Loan Policy for the student requirements and guidelines on how loans that are sent directly to the student will be administered by the College.
Many lenders offer private, alternative student loans to qualified borrowers that can be used to fund your college education. Verify the loan is private, not federal, before applying. Carefully review the terms and conditions of any loan before you apply. Most large banks or loan companies offer private student loans (sometimes called alternative student loans). If you need help locating those institutions please feel free to contact our Financial Aid Office.
Securing loans from any source outside the College is a student’s responsibility. Upon a student’s request, the College will certify, except for federal financial aid, a student’s enrollment and provide other data with an understanding that it is fulfilling a ministerial service to its students. The provision of that service does not indicate that the College is a recipient of the loan received by the student or that it is in any way administering any portion of the loan program, or that it is responsible for decisions made by the lenders.
Students who are members of Pennsylvania Credit Unions may want to explore this web site for private student loans www.pastudentchoice.org.
As part of your search for private loan options, you and your family may also use the Pennsylvania Private Student Loan Marketplace to instantly and accurately compare rates and terms from multiple private loan lenders side-by-side. This will help you make an informed decision about the most appropriate loan for you. The Marketplace displays products from local and national lenders, complete with detailed listings of Annualize Percentage Rates, interest rates, total cost, monthly payments, borrower benefits, fees and repayment options. Please review the appropriate school and lender disclosure as well as the Grove City College Financial Aid Code of Conduct before utilizing the Marketplace for the first time.
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