Types of Financial Aid
Gateway Community College uses the following four types of Financial Aid funds:
Grants - financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund)
Scholarships - financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund)
Federal Work-Study - a work program through which you earn money to help you pay for school
Loans - borrowed money for college or career school; you must repay your loans, with interest
Awards may be in any one of these categories or combination of the four. The exact form of the total award will be determined only after careful evaluation of the student’s individual situation. Financial need, academic performance and resources available to the student are all considered.
All financial aid awards are predicated upon available funds and subject to revision by the financial aid office for changes in enrollment status, additional resources, scholarships, and/or lack of completion of necessary information to determine eligibility. Financial aid is disbursed twice per academic year; the first disbursement during the fall semester and the second disbursement during the spring.