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GU GOLD FUNDS The student ID card also acts as your GU Gold card. GU Gold funds can be used for a variety of purchases on and off campus. Details can be found at www.gannon.edu/gugold. Deposits can be made any time during the year. Once funds are deposited they cannot be withdrawn as cash, or used to pay balances on a student's tuition account. Funds remain on account from one semester to the next until the student graduates or withdraws. At that time, a refund can be requested. The credit will first be applied to any outstanding balance on a student's tuition account before being refunded.
FINANCIAL AID AND STUDENT EMPLOYMENT In order to bring a Gannon education within the reach of qualified students who could not otherwise afford it through either their own or their families' reasonable efforts, Gannon offers an integrated financial aid program of scholarships, loans, and employment. The Gannon Early Version Award Application (EVA) for financial aid should be filed concurrently with the application for admission. Accepted students who submit a completed EVA will receive an Estimated Award letter containing estimated amounts of all financial aid (including grants, loans, scholarships, and/or employment) for which they may be eligible. Gannon's Financial Aid program is open to all students attending classes during the nine month period from September through May. Financial aid is not available for summer term courses, although the Financial Aid Office can help students secure outside loans to help with expenses during this period. Application Procedure All students seeking need based financial aid should file financial aid applications no later than March 15. Need based financial aid is awarded on the basis of established financial need. Need is defined as the difference between the family's relative financial strength and the cost to attend Gannon. All students must file the "Free Application for Federal Student Aid" (FAFSA) available online at www.fafsa.ed.gov, from guidance counselors, or the Financial Aid Office. The Expected Family Contribution (EFC) is determined by an analysis of the data submitted. The EFC measures a family’s financial strength and determines eligibility for federal student aid. Upon determination of the EFC, a student's need is derived and an aid package is put together. Types of Assistance Financial Aid is generally awarded in the form of a package including grant, scholarship, employment, and loan funds. The amount of each type of aid varies according to the University's funds and the student's need. During 2011-2012, about 90 percent of Gannon's students who applied received financial assistance. The financial aid budget including athletics, was over 28 million dollars. Aid awards range from $100 to the full cost of tuition, fees, room and board. In addition, many Gannon students receive scholarship funds from outside the University. Loans Long-term loans are an important financial aid resource available to students who need help and who are willing to pay for part of their current education with their future earnings. Federal Student Loans All students are eligible to apply for a Federal Direct Student Loan. Under this program a student may borrow a maximum amount from $5,500 to $7,500 per year subject to a total