Financial Aid

Gutenberg College has struggled with the issue of tuition and financial aid since its inception. On the one hand, we would like for every student who is qualified and motivated to study at Gutenberg to be able to do so regardless of his financial circumstances. On the other hand, we want the college to be able to continue to exist. It is our hope that by working together with students and parents we can accomplish these two goals. Therefore our financial aid policies are based on the following principles:

  1. Gutenberg College will refrain from burdening students with large loan debts.
  2. Tuition will be as low as we, in good conscience, can make it—an amount well below the actual costs of operating the college.
  3. Each student and family will make a reasonable sacrifice to pay for student expenses.
  4. Gutenberg College will help as much as possible students who cannot afford the costs of a Gutenberg education.
  5. All this will be done in a manner that is as fair as practicable.

Gutenberg College assumes that each student and his family have the primary responsibility to pay for the student’s college education and that this education is a high priority meriting sacrifice on the part of the family. Institutional aid is available to assist, but not replace, the family’s resources.

Applying for Financial Aid

Gutenberg College will base its need-based aid decisions on the College Board CSS/Financial Aid PROFILE® (henceforth referred to as PROFILE) and the college's need-based formula. Gutenberg College awards all need-based aid on an annual basis. In order for Gutenberg College to calculate the expected family contribution (EFC), returning students must reapply for need-based aid annually, in the spring before the fall term in which they will need aid.

Students seeking financial aid must complete the PROFILE on the College Board website. Gutenberg College's PROFILE code number is 2662. To talk to a College Board representative, call 305-829-9793 and select "0" in the automated menu system. The Gutenberg College Financial Aid Office will occasionally request additional information from the student before making an award.

Prospective Students

In order to qualify for the maximum financial aid for which they are eligible, prospective students should complete the PROFILE before June 1. Students who do not submit the PROFILE by June 1 may not be eligible for need-based aid. After June 1, students should contact the admissions office before completing the PROFILE. Financial aid requests will not be considered until a student has been accepted for admission to Gutenberg College. The sooner a student submits the PROFILE, the sooner Gutenberg College can make a financial aid determination.

Returning Students

In order to qualify for institutional aid, all returning students must complete a new PROFILE each year, by May 1 of the spring preceding each fall term they will need aid. Failure to complete the PROFILE may preclude the student from receiving aid.

Information about the College Board CSS/Financial Aid PROFILE

The PROFILE® will cost $25: $9 for registration and $16 for the report sent to Gutenberg College. A fee waiver is available for those who do not have the means to pay the application fee. The PROFILE automatically determines this ability to pay when the registration form is completed.

The PROFILE (used by more than 500 colleges) uses up-to-date information regarding tax liabilities, values, and other factors to analyze a family's/student's current financial situation and provide Gutenberg College with a fair assessment of the family's/student's ability to pay college expenses. The PROFILE also allows the family/student to describe in detail any extenuating circumstances that might impact income and/or expenses.

The PROFILE should be completed after the family/student has filed the current year's taxes because many of the questions on the PROFILE form require information from the tax forms. If the family/student will not file taxes until after the June 1 deadline, then the family/student must complete the PROFILE form using a "reasonable guess" option and information from the previous year's tax forms, assuming significant changes have not occurred. In such case, Gutenberg College will likely ask for copies of the previous year's tax forms in addition to the current year's forms (when filed).

Financial Aid Package

The types of financial aid available to students include non-institutional aid (outside scholarships and loans) and institutional aid (Gutenberg loans and grants). Depending on qualified and available funds, Gutenberg College will offer admitted and returning students financial aid packages in the order of the following sources: (1) non-institutional aid; (2) institutional aid.

Non-Institutional Student Aid: Scholarships and Loans

External scholarships. Students are encouraged to apply for non-institutionally-funded academic, merit, service, or need-based scholarships. Potential external scholarship providers include, but are not limited to, the following: private corporations, charitable foundations, clubs and associations, and community service organizations; religious organizations; military units; state agencies; and governmental agencies.

Students can explore the following on-line sources for advice and information regarding scholarship application and availability: FastWeb and FinAid.

External loans. Some private companies make low-interest education loans to students attending qualified educational institutions. These loans generally require a creditworthy co-signer. Gutenberg College has been approved as a qualified recipient institution for the private education loan programs of the following companies:

Gutenberg College’s federal school code is 03932400.
Gutenberg College’s loan code is 99970300.

Students may apply to these companies for low-interest loans up to the cost of attendance. At the request of a student, Gutenberg College will do what it can to make arrangements with other financial institutions from which the student seeks an education loan.

Institutional Aid: Gutenberg Loan & Gutenberg Grant

Gutenberg Loan. This school-granted financial aid is made available from the college’s own resources. The maximum amount loaned to a student is $1,800 per year. The terms of the loan are subject to change without notice. As of April 1, 2006, the terms are as follows:

  1. Payments are due on or before the first day of each and every month, beginning on the first day of the first month following 180 days after the last day of the student’s (the "borrower’s") senior year or early withdrawal or termination of enrollment at the college.
  2. Payments will not be required nor will any interest accrue in any month when the borrower is enrolled for part of that month as a full-time student in any accredited or state-approved vocational or college-level degree-granting program. Payments will become due again after this deferment period as provided in section one above.
  3. The repayment rate will be $150 or more per month, including interest (if any) until the principal and interest (if any) are paid in full.
  4. Zero interest will be charged provided each payment is made by the first day of each month that a payment is due.
  5. The unpaid balance on this note shall bear interest at the rate of 5% per annum beginning the first day of the month after any monthly payment is not received by Gutenberg College on or before the day due.

Gutenberg Grant. This need-based financial aid is made available from Gutenberg College’s own resources. The amount of Gutenberg Grant funds that a student receives will be determined based upon the needs not funded by any other resources.

Gutenberg Grants for returning students take the previous year’s diligence grade into consideration. Students receiving school-granted financial aid must show themselves interested in learning and be diligent in their course work. (See Diligence Grades.) Thus, need-based grants, which are determined annually after a review of the student’s financial aid package, will be adjusted by the following percentages corresponding to the diligence-grade average earned the previous year: 3.76–5.0 DGA–100%; 2.76–3.75 DGA–95%; 1.76–2.75 DGA–90%; 1.0-1.76 DGA–85%.

Employment

Mastery of the material covered at Gutenberg College is a full-time activity. We recommend that students work no more than ten hours per week while classes are in session. On-campus employment opportunities are very limited; however, students have been successful in finding employment off-campus.


Videos  Videos



Business Affairs: