Once your eligibility for need based assistance has been determined, you will be considered for all of the types of aid for which you qualify. You may be offered a “package” which will be coordinated with any GW merit awards you receive. Your need based package may include one or more of the components we discuss in this section: gift aid in the form of scholarships or grants, and “self-help” aid in the form of education loans, or work-study funds. Your academic record, the extent of your need, and the timeliness with which you complete your financial aid forms and application are all factors that determine the kinds and amounts of aid in your particular package.

The University strives to provide assistance to as many full-time students as possible but is unable to meet the full need of all students who are eligible for aid. Institutional grants and scholarships are awarded only to full-time students working on their first undergraduate degree. Half-time degree candidates may be eligible for the Federal Perkins Loan, Federal Work-Study and the Federal Family Education Loan Program (Stafford and PLUS loans). Furthermore, except as noted for Federal Pell, Federal SEOG, and Federal Perkins, the duration of aid is limited to ten consecutive semesters of full-time enrollment, or the number of credits sufficient to graduate.

The George Washington Guaranteed Grant

The University initiated a fixed-rate tuition policy for students entering in the Fall 2004 term and beyond. Along with this policy, GW has also made a commitment to those students eligible for need based financial assistance by guaranteeing a grant for up to ten consecutive semesters of undergraduate enrollment.

We use the data provided on the CSS Profile and the Free Application for Federal Student Aid (FAFSA) to award eligible students an estimated GW Guaranteed Grant. To confirm the award, we will need to have a signed copy of the student’s and parent’s official 2008 federal tax forms (with all appropriate schedules) and W-2 statements. If needed, we may request other documentation such as enrollment verification for a sibling in college, bank statements to confirm savings/investments, etc. Once all the necessary documentation has been verified against the data reported on the Profile and FAFSA, we will confirm or adjust the award as appropriate. At that point, the GW Guaranteed Grant will become official.

The GW Guaranteed Grant can be used towards tuition expenses only. If a student is fortunate enough to receive outside tuition awards, such awards can be combined with the GW Guaranteed Grant up to the cost of tuition. However, if tuition-specific outside resources combined with the GW Guaranteed Grant exceed tuition costs, the GW Guaranteed Grant will be adjusted.

For renewal of the grant, a student must be enrolled and charged as a full-time student and maintain satisfactory academic progress. If these guidelines are met, the GW Guaranteed Grant will be available for up to ten consecutive semesters of undergraduate study at The George Washington University.

For those students eligible for other need based aid, it will be necessary to reapply annually by the posted deadline dates. The student’s financial need will determine the level of support that can be provided beyond the GW Guaranteed Grant.

The Board of Trustees Scholarship

The Board of Trustees Scholarship (BOT) is available to academically excellent students who also demonstrate eligibility for “need based” assistance according to GW’s policy.

Similar in nature to the GW Guaranteed Grant policy, the University is guaranteeing the scholarship for up to ten consecutive semesters of undergraduate enrollment. The CSS Profile and FAFSA are used to determine an estimated award. To confirm the award we will need a signed copy of the student’s and parent’s official 2008 federal tax forms (with all appropriate schedules) and W-2 statements. If needed, other documentation may be requested. Once all the necessary forms have been received and verified against the data reported on the Profile and FAFSA, we will confirm or adjust the award as appropriate. At that point, the Board of Trustees Scholarship will become official.

The Board of Trustees Scholarship can be used towards tuition expenses only. If a student is fortunate enough to receive outside tuition awards, such awards can be combined with the Board of Trustees Scholarship up to the cost of tuition. However, if tuition-specific outside resources combined with the Board of Trustees Scholarship exceed tuition costs, the Board of Trustees Scholarship will be adjusted.

For renewal of the BOT and other need based aid please refer to the appropriate sections under the GW Guaranteed Grant.

University Scholarships

Need based tuition scholarships, including endowed awards listed in the Bulletin, are available to academically excellent students who are working on their first undergraduate degree. We automatically will consider all aid applicants for these awards and do not need any additional applications.

University and Alumni Award

University and Alumni Awards are available to students who demonstrate financial need. Renewal is contingent upon completion of at least 12 credit hours each semester, maintenance of a C (2.0) or better grade point average, reapplication by the published April deadline, and continued financial need.

Federal Pell Grants

These grants are available to students who demonstrate exceptional need. Amounts for the 2009-2010 academic year range from $976 to $5,350, depending on the federal need analysis results and the number of credit hours taken by the student.

If your award letter indicates an estimated Federal Pell Grant, this is the result of our preliminary analysis of what you may be eligible to receive under this program. To confirm this award, your Student Aid Report (SAR) will be compared to federal tax data. Your actual award may differ from the estimated amount after we complete this verification.

Renewal is contingent on maintaining a C (2.0) or better grade point average, reapplication, and continued financial need. Please note that Pell aid terminates upon receipt of the first bachelor’s degree or its equivalent, whichever comes first.

Important: In order to receive payment for Pell, you must list GW’s school code 001444 on the FAFSA. If you did not do this when you first filed the FAFSA, you can call the Federal Student Aid Information Center at 1-800-433-3243 to add our school code or go to http://www.fafsa.ed.gov. You will need to provide your PIN (Personal Identification Number).

Academic Competitiveness and National SMART Grants

The federal government has established two new federal grant programs: the Academic Competitiveness Grant (ACG) and the National SMART Grant. Both programs require that the student be eligible for the Pell Grant.

The ACG Grant is available to students enrolled in the first or second year of college. The student must be eligible for the Pell Grant, be a US Citizen or eligible non-citizen, have completed a rigorous high school academic program as determined by federal guidelines, and maintain a GPA of at least 3.0 as a full-time student (a minimum of 12 credit hours per semester). The award for first year students is $750. The award for second year students is $1,300.

The SMART Grant is available to third and fourth year students. The student must be eligible for the Pell Grant, have a GPA of 3.0 or higher and be enrolled in one of the following areas of study (as approved by the Department of Education):

• Science
• Math
• Computer Science
• Certain designated foreign languages
• Technology

The student must remain enrolled in one of the academic programs noted above in order to continue to receive the SMART Grant. The University must determine eligibility for this award each semester (rather than annually). The value of the grant is $4,000 for the academic year ($2,000 per semester).

Federal Supplemental Educational Opportunity Grant (FSEOG)

FSEOG awards at GW range from $200 to $4,000. In accordance with federal regulations, FSEOG is awarded to students with exceptional financial need, and priority is given to students with Federal Pell Grant eligibility. Students may not accept FSEOG if they decline a Perkins or subsidized Stafford Loan offered to them. Renewal of the FSEOG is contingent upon maintaining a C (2.0) or better grade point average, reapplication by the published April deadline, continued financial need, and Pell Grant eligibility.

Federal Perkins Loan Program

This loan is desirable because of its favorable interest rate of 5%. Although the program allows you to borrow up to $27,500 for your undergraduate studies, the actual amount awarded depends on your eligibility and the University’s available funding. For 2009-2010, Federal Perkins Loan amounts at GW will range from $600 to $1,800.

You must sign a master promissory note electronically before this loan can be credited to your student account. In early August, information will be sent to you about accessing the note on-line.  Renewal is contingent upon maintaining a C (2.0) or better grade point average, reapplication by the published April deadline, and continued financial need and annual funding levels.

Important information regarding this loan:

Grace Period: You are entitled to a grace period of nine consecutive months following your separation from an institution of higher education. No payments are due during this period and no interest accrues.

Repayment Terms: Repayment starts three months after the grace period ends and continues quarterly for up to 10 years, excluding periods of deferment. You will receive a bill approximately 20 days before each due date.

Interest Rate: Interest accrues at 5% simple interest on the unpaid balance.

Prepayment: You may prepay your loan at any time without penalty.

Deferment and Cancellation: Specific information about deferment and cancellation provisions is contained in the master promissory note.

Credit Bureau Reporting: All Federal Perkins Loan disbursements must be reported to a credit bureau organization.

Federal Work-Study Program

The Federal Work-Study Program (FWS) provides funding for part-time jobs for undergraduates with financial need, allowing you to help with your personal and educational expenses. The amount of your award depends on when you apply, your level of need, and our funding levels. For 2009-2010, work-study awards generally range from $600 to $2,200. Renewal of work-study is dependent upon maintaining a C (2.0) or better grade point average on at least 12 credits per semester, annual reapplication by the published April deadline, continued financial need, and the University’s funding level.

Work-study employment is no more than 20 hours a week; freshmen usually average 10. Your salary will be at least the current federal minimum wage, but may be higher depending on the type of work you do and the skills required. This award is not credited to your student account; instead you receive a bi-weekly paycheck for the hours you worked during the previous weeks. (You must work the necessary number of hours to receive the maximum award). Also, please note that you cannot earn more money from your work-study job than the amount of your award. The student should monitor his/her earnings so as not to exceed his/her work-study allocation.

Work-study jobs can be on or off campus. If you work on campus, you usually work for GW. If you work off campus, your employer is usually a private nonprofit organization or a public agency, and the work performed must be in the public interest. All jobs are on a first-come, first-serve basis. GW’s Career Center lists job openings and coordinates the paperwork for job placement. Visit the Career Center online at http://gwired.gwu.edu/career or call (202) 994-6495 for more information.

Federal Family Education Loan Program

The Federal Stafford Loan Program (Stafford)
and the Federal Parent Loan for Undergraduate Students (PLUS)

These loans are funded by a bank, savings and loan association, or a credit union, insured by a national or state guaranty agency, and backed by the federal government. Final approval for all loans rests with the lender. The Office of Student Financial Assistance has a list of frequently used lenders who offer Stafford and PLUS loans, use USA Funds as the guaranty agency, and provide excellent service. Specifics on the PLUS Loan can be found on our website. Our Stafford lenders can be found on our website.

Using these lenders enables us to process loans more efficiently. If you are an incoming student who received a Stafford Loan referral as part of your award, you will receive more information about the application process 3-4 weeks after you have declared your intent to attend GW. If you do not receive this mailing, please call our office to request the information.

If you are a continuing student or incoming transfer student and you have borrowed previously from a lender which is not on our preferred list, you should keep your new loans with your current lender.

Normally, students enrolled for the entire academic year (two semesters) will receive half of their loan proceeds at the beginning of the fall semester and half at the beginning of the spring semester. Loan funds are co-payable to the student and the University and are mailed directly to GW or wired by Electronic Funds Transfer (EFT). You will be notified via your GW email address when the loan funds have been received and applied to your student account. If you do not have a GW email address the notification will be mailed to your current address. (NOTE: Advise the Registrar’s Office of any address changes or make the changes yourself on the GWeb Information System at http://my.gwu.edu).

All first-time borrowers at GW must complete entrance counseling, regarding their rights and responsibilities as student loan borrowers. Entrance counseling can be completed at our web site http://gwired.gwu.edu/finaidunder “Loans.” Federal regulations also require all borrowers to complete exit loan counseling before they graduate, withdraw, or drop below half-time enrollment.

Stafford Loan

As a first time borrower, you may want to consider taking advantage of the electronic application process outlined below:

• Access our web site at http://gwired.gwu.edu/finaid and click on New Undergraduate Students.
• Select the Loans link on the left hand side and scroll down until you reach the Stafford Loan section. Click on “Apply for a Stafford Loan.”
• This will take you to the Sallie Mae web site where you will select one of the lenders.
• The directions will prompt you to first complete the Entrance Interview and then to complete the Stafford Master Promissory Note (MPN). We will be notified that you have completed the Entrance Interview and promissory note and update your record accordingly.
• Finally, you will submit the GW Loan Data Form to the Office of Student Financial Assistance at GW.

The above process will allow us to certify your loans electronically and the funds will come via Electronic Funds Transfer (EFT) and be automatically credited to your student account.

NOTE: Students can select any lender they want to process the Stafford Loan. If it is not one of the lenders from which we accept an electronic application, it will be necessary to submit the following to our office:

• A completed original three part paper copy of the Stafford Master Promissory Note (MPN) which can be obtained from your lender. Since the University requires the original paper copy, you cannot complete the MPN on-line.
• A completed GW Loan Data Form.

As mentioned, information about the Stafford Loan application process will be mailed to you.

Subsidized Federal Stafford Loans

Based on the information you furnished on your financial aid forms, our office determines your eligibility for the subsidized Federal Stafford Loan program.  Undergraduate students are also eligible for an additional $2,000 in unsubsidized Federal Stafford Loan.  See Unsubsidized Federal Stafford Loan section for more detailed information.  Eligible undergraduate students with financial need who are enrolled at least half-time may apply for loans up to the following limits:

Grade Level	Maximum Subsidized	Maximum Unsubsidized	Total
Freshmen	$3,500	$2,000	$5,500
Sophomore	$4,500	$2,000	$6,500
Junior	$5,500	$2,000	$7,500
Senior	$5,500	$2,000	$7,500

These are maximums; how much you can actually borrow will depend on your cost of attendance, your expected family contribution, the financial aid you receive, and other factors. Loans must be prorated for undergraduate students whose remaining period of enrollment is less than an academic year in length. The cumulative borrowing limit for subsidized Stafford is $23,000.

For the period from July 1, 2009 to June 30, 2010, the fixed interest rate is 5.6%. Interest on a subsidized loan is paid by the federal government while you are in school, during your grace period, or an approved deferment status. Repayment of principal and interest begins six months after you leave school or drop below half-time enrollment status. All Stafford Loans are subject to an origination fee of 1.5% and a default prevention fee of up to 1%. These fees are deducted proportionately from each disbursement made to you. The fees may vary according to lender/guarantor.

Unsubsidized Federal Stafford Loans

This program provides loans to students enrolled at least half-time who do not qualify for maximum subsidized Stafford loan amounts. Need is not a factor. For the period from July 1, 2009 to June 30, 2010, the fixed interest rate is 6.8%. Fees, loan limits, and other program parameters are the same as the subsidized Stafford Loan. The unsubsidized loan amount is reduced by any subsidized Stafford amount awarded.

Unlike the subsidized Stafford, the student must pay all interest on the loan, and interest payments begin within 60 days of disbursement. You can choose to pay the interest during your in-school period or you can allow it to accumulate and it will be capitalized (added to the principal amount of your loan). Repayment of the principal begins six months after you cease at least half-time enrollment.

Independent students can qualify for additional unsubsidized funds beyond the subsidized Stafford Loan maximum, up to the following amounts:

Grade Level	Maximum Subsidized	Maximum Unsubsidized	Total
Freshmen	$3,500	$6,000	$9,500
Sophomore	$4,500	$6,000	$10,500
Junior	$5,500	$7,000	$12,500
Senior	$5,500	$7,000	$12,500

Dependent undergraduate students whose parents are denied the PLUS loan because of adverse credit are also eligible to apply for the additional unsubsidized amounts. Please note that these are maximums and not every student will be eligible for the maximum loan amount. Please refer to your award letter.