Financial Aid Consumer Information: Student Loan
The terms and conditions of the Direct Student Loan Program may be more favorable than the provisions of the private education loans. The student may qualify for other financial assistance including grants, loans or work study by completing a FAFSA.
Self Certification Form for Private Educational Loans
To receive private education loan funds, the borrower must submit a self-certification form to the lender. Do not submit the form to Glendale Community College.
Be sure to contact the lender to inquire about any additional requirements that may be needed before your loan funds can be disbursed.
- If you haven't already applied for federal and state financial aid, you're encouraged to do so by completing the FAFSA.
- You may wish to delay your private loan until you receive your financial aid award notice because you could receive enough financial aid to replace the private loan you intend to borrow.
How to complete the form
- Download a hard copy of the Private Education Loan Applicant Self-Certification form(PDF), or obtain a copy from your lender.
- Review GCC's Standard Student Budgets to determine the amount to enter in Section 2, Item A, "Student's cost of attendance for the period of enrollment covered by the loan:"
a. Select the appropriate budget type based on your housing status (living with parents or off-campus) and academic year.
- If your loan is for 2 semesters (a full academic year of fall and spring): Enter the amount listed under the appropriate housing category in Section 2, Item A.
- If your loan is for 1 semester (e.g., fall only or spring only, etc.): Take the dollar amount under the "Standard Student Budget Totals" for the appropriate housing category and divide by 2. Enter this amount in Section 2, Item A.
- Determine the amount to enter in Section 2, Item B, "Estimated financial assistance:"
a. If you have not applied for financial aid and do not have additional outside resources, report $0.
b. If you have applied for financial aid, access your awards using MyGCC. Total all grants, loans (excluding this loan), scholarships, and work-study that you have or will accept and enter that amount in Section 2, Item B. Be sure to include awards for only the semesters covered by the loan period (calculate amounts for 1 semester as described in step 2 above).
c. If you have applied for financial aid but awards have not yet been made, report $0 in Section 2, Item B. You may wish to delay your private loan until you receive your financial aid award notice, because you could receive enough financial aid to replace the private loan you intend to borrow.
d. Determine the amount to report in Section 2, Item C by subtracting Section 2, Item B from Section 2, Item A.
- Complete Sections 3 and 4 and submit to the lender.
The Higher Education Opportunity Act (HEOA) of 2008 requires institutions of higher education to develop and enforce a code of conduct that prohibits conflicts of interest for financial aid personnel. In compliance with this requirement, Glendale Community College has created the following code of conduct based on the HEOA of 2008:
Other college employees, officers and agents with responsibilities in respect to educational loans must also comply with this policy.
Ban on Revenue-Sharing Arrangements – Glendale Community College shall not enter into any revenue-sharing arrangement with any lender or other vendor working with the Financial Aid Office. The college shall not accept any fee or other material benefit in exchange for recommending a lender to its
Gift Ban – No Glendale Community College officer or employee with financial aid responsibilities shall solicit or accept a gift (e.g., a gift of services, transportation, lodging or meals, provided by purchase of a ticket, payment in advance or reimbursement) having a monetary value of more than a nominal amount from lenders, guarantors or servicers of education loans.
Contracting Arrangements Prohibited – No Glendale Community College officer or employee with financial aid responsibilities shall accept from any lender or lender affiliate any payment or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services to a
Interaction with Borrowers – Glendale Community College shall not automatically assign a particular lender to any borrower and shall not refuse to certify or delay certification of any loan based on the lender or guarantee agency selected.
Prohibition on Offers of Funds for Private Loans – Glendale Community College shall not request or accept from any lender an offer of funds to be used for private education loans in exchange for the college providing the lender with a specified number or volume of loans made or in exchange for
placement on a preferred lender list.
Ban on Staffing Assistance – Glendale Community College shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing. Lenders, however, may provide professional development training to financial aid administrators, educational advising materials to borrowers or assistance in state or federally-declared natural disasters.
Advisory Board Assistance – All Glendale Community College employees with financial aid responsibilities shall be prohibited from receiving anything of value from a lender or guarantor in return for service on its advisory board. Reimbursement for reasonable expenses incurred in connection with such service, however, is permitted.
New loan borrowers must complete loan entrance counseling before receiving a loan at Glendale Community College. The loan counseling will consist of an in person loan workshop that new loan borrowers must attend. Students can sign up for the Loan Workshop at the Financial Aid Office. New loan borrowers will also be asked to complete the online loan counseling session offered by the US Department of Education at www.studentloans.gov.
The Loan Workshop and online loan counseling covers all the elements of loan counseling including:
- Terms and conditions of the loan and of the borrower’s responsibilities
- The effect of the loan on the eligibility of the borrower for other forms of aid
- An explanation of the use of the Master Promissory Note
- The seriousness and importance of the students’ repayment obligation
- Information on the accrual and capitalization of interest
- Borrowers of unsubsidized loans have the option of paying interest while in school
- Definition of half-time enrollment and the consequences of not maintaining half-time enrollment
- Importance of contacting appropriate offices if student withdraws prior to completion of program of study
- Sample monthly repayment amounts
- The obligation of the borrower to repay the full amount of the loan regardless of whether the borrower complete program or completes within regular time for completion, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services the borrower purchased from the school
- Consequences of default
- Information about the NSLDS and how the borrower can access the borrowers records
- Name and contact information for individual the borrower may contact with questions about the borrower’s rights and responsibilities or the terms and conditions of the loan
- Borrowers who cease attending Glendale Community College, graduate or are enrolled in less than half time units are subject to receive loan exit counseling information. At a minimum, Glendale Community College notifies these students by email and asks they complete the loan exit counseling offered by the US Department of Education at www.studentloans.gov
This exit counseling offered by the US Department of Education cover the following.
- Average anticipated monthly repayment amount
- Repayment plan options
- Options to prepay or pay on shorter schedule
- Debt Management Strategies
- Use of Master Promissory Note
- The seriousness and importance of student’s repayment obligation
- Terms and conditions for forgiveness or cancellation
- Copy of information provided by the U.S. Department of Education
- Terms and conditions for deferment or forbearance
- Consequences of default
- Options and consequences of loan consolidation
- Tax benefits available to borrowers
- The obligation of the borrower to repay the full amount of the loan regardless of whether the borrower completes program or completes within regular time for completion, is unable to obtain unemployment upon completion, or is otherwise dissatisfied with or did not receive the educational or other services the borrower purchased from the school
- Availability of the Student Loan Ombudsman’s office
- Information about NSLDS. The U.S. Department of Education is required to provide a disclosure form for students and prospective students about NSLDS
Before a student takes out a loan, it’s important to understand that the loan is a legal obligation that the student will be responsible for repaying with interest. It is the student’s responsibility to understand the terms of the loan that are outlined in the promissory note. The student is agreeing to repay the loan according to the terms of the note even if the student does not complete his/her education, can’t get a job after completing the program or do not like the education the student receives.
Rights & Responsibilities
For many students, borrowing a student loan is their first experience in lending. It is important to understand that when you take out student loans for school, you are signing a contract that you agree to repay the loans. The Master Promissory Note (MPN) is a legally binding document.
Before you agree to take out student loans, you should understand your rights and responsibility as a student loan borrower.
Federal student loan borrowers have a number of options to successfully manage student loan debt. These options include: the right to temporarily stop payments with a deferment or forbearance, the right to reduced payments by switching repayment plans, depending on your financial circumstances and other conditions, and the right to loan cancellation, discharge or forgiveness in certain situations.
As a federal student loan borrower, you are responsible for the repayment of your loan. You remain responsible for repaying your loan regardless of whether you graduate from college or feel dissatisfied with the education you received.
You are responsible for knowing when your loan repayment begins, and your required payments. It is important to prepare for repayment as you get ready to graduate or withdraw from school.
You are responsible for notifying your loan servicer of any change to your address. If you move, and do not receive your student loan bills, you are still responsible for making your required payments.
You are also responsible for notifying your loan servicer and school if your name or contact information changes, if you transfer or withdraw from school, after a change in employment, or any change that could impact your loan.
You are responsible for notifying your school’s financial aid office if you stop attending your classes, withdraw, or do not re-enroll as planned. You are also responsible for notifying your financial aid office if your expected graduation date changes.
Terms and Conditions of Loans
Terms and conditions of Federal Student Loans (Stafford and Parent PLUS) are listed on the Master Promissory Note signed by a borrower accepting the loan.
Financial Aid Consumer Information
All inquiries to assist enrolled or prospective students in obtaining financial aid assistance information should contact: Financial Aid at 818-240-1000, Ext 5916, email your inquiry to firstname.lastname@example.org, or visit the office in the Sierra Vista Building, third floor. Our hours and staff members can be found on the Financial Aid site.
Student Financial Information – Procedure to Apply for Federal Financial Aid:
- Apply for admission to Glendale Community College. Officially declare a program goal on your admission application.
- Apply for Federal Student Aid by completing a Free Application for Federal Student Aid (FAFSA) for the appropriate award year.
- Complete the CA College Promise Grant - CCPG (Formerly known as the BOG fee waiver). Students can also be evaluated for CCPG eligibility when the results of their FAFSA are reviewed. The CCPG fee waiver is a California Community Colleges financial aid program for California residents that waives the enrollment fees for students.
- Use your legal name on all documents. Your name, Social Security number, and date of birth must be correct on all college and financial aid forms.
- Return all required documents promptly. Make sure all forms have your GCC ID number listed and are signed by you and your parent (if required).
- Keep photocopies of every form and document.
- Submit all required documents immediately upon request to the Financial Aid Office. We process your application based on the date(s) we receive your information, so it is to your benefit to respond to us as soon as possible. If you have questions regarding any request we make please come by our office or contact our office so that we can discuss your financial aid file.
- View and read all links accompanying your award email, especially items regarding check disbursement procedures and Satisfactory Academic Progress requirements.
- The Financial Aid Office staff are available to help you with your forms. If you have general questions you may also contact the Federal Student Aid Information Center at 800-4-FED-AID (800-433-3243).
- Apply for admission to Glendale Community College. Officially declare a program goal on your admission application.
Based on eligibility students at Glendale Community College are eligible for the maximum Pell Grant based on EFC and enrollment level and the maximum campus based funds (SEOG) subject to availability. Student may borrow federal student loans. The terms of these loans may be more favorable than the provisions of private education loans.
If you served on Active Duty, you might be eligible for education benefits offered by the Department of Veterans Affairs. For example, the Post-9/11 GI Bill provides financial support for educational and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service-connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post-9/11 GI Bill.
If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your Service prior to enrolling.
If you are the spouse or child of a service member who is serving on active duty Title 10 orders in the paygrades of E1-E5, O1-O2, or W1-W2, you may be eligible for financial assistance from the Department of Defense for education, training, and/or the occupational license and credentials necessary for a portable career.
If you are the spouse or child of a service member, you may be eligible for transfer of the service member’s Post-9/11 GI Bill benefits to you.