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Student Financial Services

Grants and Loans graphic

Important
  • Complete all steps below to assure that you receive the funding you require.
  • A printable checklist to help you track your progress is available here.
  • Begin this process well before classes start to avoid late fees and unexpected expenses.

All students, except those in default of a previous loan, are eligible for a federal student loan, which must be repaid with interest. Some students may also be eligible fora federal student grant, which need not be repaid.

 

 

Steps in the Application Process

 

Step 1:

Students/parents apply for a federal PIN number at www.pin.ed.gov

Federal PIN Application Video

Click image for an 8 minute video.

It will open in a new browser tab or window.


Your PIN can be used each year to electronically apply for Federal Student Aid and to access your Federal Student Aid records online.

  • Your PIN serves as your electronic signature and provides access to your personal records, so you should never give your PIN to anyone, including commercial services that offer to help you complete the FAFSA.
  • Be sure to keep your PIN number in a safe place.
  • One to three business days are required for your pin to be verified. The Department of Education will notify you by email (if you provided your email address in your PIN application) or postal mail (if you did not) when verification has occurred.
  • If you entered your own PIN in the PIN application, there's no need to wait for verification. You can proceed with Step 2 immediately.
  • If you ever lose or forget your PIN, return to www.pin.ed.gov and request that a "Duplicate PIN" be displayed, mailed, or emailed to you.
Step 2:

Submit a Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov

 FAFSA Application Video

Click image for a 7 minute video.

It will open in a new browser tab or window.

 

In completing the FAFSA, you will be asked for the GBC code. It is 006977.

 

Several Federal Student Aid Programs become available after you complete the FAFSA application:

  • Grants: Student aid funds that do have to be repaid. You must comply with the GBC Academic Standards Requirements after each semester, which you need to be sure that you understand. If you have any questions, please call the GBC Student Financial Services Office at 775.753.2399.
  • Work-Study: A part-time work program to earn money while you are in school.
  • Loans: Student aid funds that you must repay with interest. There are two types of federal student loans:
    • Federal Direct Student Loans, subsidized and unsubsidized
    • Federal Direct Parent Plus Loans
Wait

Once you submit your FAFSA, it will take 5 business days (about a week) for the U.S. Deparment of Education to send the results to the GBC Student Financial Services Office. You will be notified by email when this occurs.

 

Important: You are not finished!

 

If your letter from FAFSA indicates that you may be eligible for a grant, the final determination is up to the college and is based on supporting documentation provided by you. You must complete steps 3 and 4 to receive a grant, and steps 3 through 8 to receive a loan.

Step 3:

Log in to the MyGBC Self-Service Center to check for missing documents

Missing Documents Video

Click image for a 9 minute video.

It will open in a new browser tab or window.

 

  • If you are unable to log in, click here for instructions.
  • Click the Student Center button. Then click To Do List then Details.
  • If forms are missing from your financial aid record, you can find them in the Forms Directory on this website. Proceed to Step 4 only after providing all missing forms to the GBC Student Financial Services Office.

 

Note: If your FAFSA has been selected for a review process called verification, we have the authority to request copies of financial tax documents from you (and your spouse or parents).

Wait

At most times of the year, the Student Financial Services office requires up to 10 business days (two weeks) to review your documentation and make the final determination about your financial aid. However, during peak times of year (August and January), this process can require four to six weeks.

 

Important: If you applied late, you will need to sign up for a Deferred Payment Plan at the  MyGBC Self-Service Center to help avoid late fees. Very late applicants for financial aid may incur some late charges before processing is complete.

 

If you are a late applicant who is counting on a grant to finance your education, realize that your grant may not be approved. If this is the case, you will incur a personal financial obligation by enrolling in college.

Step 4:

Log in to the MyGBC Self-Service Center to preview your Offer Letter

Offer Letter Video

Click image for a 4 minute video.

It will open in a new browser tab or window.


  • If you are unable to log in, click here for instructions.
  • Click the Student Center button. Then click Go to Communications Center in the box at right. Your offer letter will be titled Financial Aid Award Notice. To view it, click the View/Download Link. Read the letter carefully.
  • If you do not see an Offer Letter after waiting an appropriate amount of time, then please call the GBC Student Financial Services Office at 775.753.2399.
  • Your Offer Letter may include an offer for:
    • A grant, which does not have to be repaid, and/or
    • a loan, which you will have to repay with interest.

GRANT OFFER

If you are offered a grant, it is accepted for you automatically. You may be offered a loan instead of or in addition to a grant. If you do not wish to also incur a loan, your financial aid application will be complete when you:

  1. Enroll in 6 eligible credits (remedial classes below the 095 level are not eligble).
  2. Read the GBC Academic Standards Requirements so that you sustain your financial aid and avoid the necessity of repaying funds granted you.
  3. Familiarize yourself with the GBC Financial Aid Handbook.

 

LOAN OFFER

 

You must decide whether or not to incur a loan and, if you do, whether to borrow the whole amount offered or a lesser amount. Because a loan is a financial obligation to repay with interest, this decision must be made carefully. Before accepting a loan, GBC recommends that you:

 

  1. Check your total student loan indebtedness at the National Student Loans Database System (NSLDS). You will need the PIN number obtained in Step 1 to do this (if you have forgotten your PIN, request a duplicate at www.pin.ed.gov). You do not need to report checking your indebtedness to the GBC Student Financial Services Office; this is for your own benefit.
  2. Become aware of your financial obligation by consulting the federal Entrance Counseling Handbook. (If you do accept a loan, you will also be required to complete formal federal Entrance Counseling and sign a promissory note online, step 6, below.)
  3. Understand that GBC and the federal government will require you to meet GBC Academic Standards Requirements in order to sustain your financial aid. You will need to be completely familiar with these standards.

Additional steps for LOAN recipients only

Step 5:

Log in to the MyGBC Self-Service Center to accept your student
loan[s]

Accepting Awards Video

Click image for a 3 minute video.

It will open in a new browser tab or window.

 

 

Go to Student Center > Campus Finances > Accept/Decline Awards to accept the loan or loans you wish to incur.

 

Once you have accepted a loan, make sure you open all mail from the Department of Education. You will be sent a Disclosure Statement outlining specific details of what has been certified through the GBC Student Financial Services Office.

 

Step 6: Complete Federal Entrance Counseling

 

Loan recipients must complete federal entrance counseling annually. To complete entrance counseling, use your PIN number obtained in Step 1 to log in to www.studentloans.gov (if you have forgotten your PIN, request a duplicate at www.pin.ed.gov).

 

If you have completed Entrance Counseling during a previous year, you may encounter a dialog window like the one shown below. Be sure to click Continue.

Step 7:

Loan Recipients Only: Sign a Master Promissory Note (MPN)

 

Complete the MPN at www.studentloans.gov (if you have forgotten your PIN, request a duplicate at www.pin.ed.gov.)

 

If you have completed a MPN in a recent academic year and received a student loan, then you should not need to complete another MPN. MPNs are usually valid for ten (10) years unless you transfer to another school.

 

If you completed an MPN in a recent academic year and did not receive a student loan, chances are that the MPN may have expired and you will need to complete a new MPN. New and transfer students will need to complete a MPN for Great Basin College.

Step 8:

Submit a Mid-Semester Progress Report

 

The Mid-Semester Progress Report is required only if you are requesting a loan after October 1st for a Fall term or March 1st for a Spring term. The form is available on the Financial Aid Forms page. You may complete the form using either of the following methods:

 

  • You can email the Mid-Semester Progress Report form to your instructors as an attachment. Ask each instructor to the completed progress report to the GBC Student Financial Services Office. (Our email address is listed on the form.)
  • Or, you can take the form to your classes and have your instructors indicate that you are making satisfactory progress. Your instructors must also sign and date the form. Then return the form to the GBC Student Financial Services Office.

 


 


Great Basin College - 1500 College Parkway - Elko, Nevada 89801 - 775.738.8493
A member institution of the Nevada System of Higher Education
Accredited by the Northwest Commission on Colleges and Universities

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