Need-based Aid
Need-based aid is financial aid you can receive if you have financial need and meet other eligibility criteria. You can’t receive more need-based aid than the amount of your financial need.
GCU will first determine whether you have financial need by using a simple formula:
Calculation of Your Financial Need (2024–25) |
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Cost of Attendance (COA) – Student Aid Index (SAI) = Financial Need |
If your COA is $16,000 and your SAI is 12000, your financial need is $4,000; so you aren’t eligible for more than $4,000 in need-based aid.
Calculation of Your Financial Need (2023–24) |
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Cost of Attendance (COA) – Expected Family Contribution (EFC) = Financial Need |
If your COA is $16,000 and your EFC is 12000, your financial need is $4,000; so you aren’t eligible for more than $4,000 in need-based aid.
GCU are not authorised for the following student aid programmes
No interest is charged whilst you are studying at least half-time, during the grace period (the first 6 months after you finish University) and during deferment periods (a postponement of loan payments). The US Government will pay the interest on a subsidised loan while you are enrolled at least half time or during a grace or deferment period.
Direct Unsubsidized Loans are available to both undergraduates and graduate or postgraduate students. You are not required to show financial need to receive a Direct Unsubsidized Loan. Interest is charged during all periods. Please access this link for more information.
Non-need-based Aid
Your school determines how much non-need-based aid you can get by using this formula:
Calculating Your Non-need-based Aid |
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Cost of Attendance (COA) – Financial Aid Awarded So Far* = Eligibility for Non-need-based Aid |
*Includes aid from all sources, such as the school, private scholarship providers, etc. |
Non-need-based aid is financial aid that is not based on your SAI/EFC. What matters is your COA and how much other assistance you’ve been awarded so far. For instance, if your COA is $16,000 and you’ve been awarded a total of $4,000 in need-based aid and private scholarships, you can get up to $12,000 in non-need-based aid.
The following are the non-need-based federal student aid programs:
Parents of dependent undergraduate students can borrow a federal Direct Parent PLUS loan and can borrow up to the total Cost of Attendance minus all other sources of financial aid their student receives. The loan is the financial responsibility of the parents and not the student.
A parent PLUS loan borrower must meet the same citizenship and residency requirements as the student. The parent must not owe a refund on a federal student financial aid grant or be in default on a federal student loan. The repayment period for a Direct PLUS Loan begins immediately after you’ve received the last disbursement of the loan, while your child is still in school. Generally, you’ll have from 10 to 25 years to repay your loan, depending on the repayment plan that you choose. Your required monthly payment amount will vary depending on how much you borrowed, the interest rates on your loans, and your repayment plan.
Please access this link for more information.
The Federal Direct Graduate PLUS Loans is a federal loan that graduate students with good credit histories may borrow to help pay their educational expenses. A graduate student may borrow up to the total Cost of Attendance less all other financial aid received.
Students must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Direct Loan Program before applying for a Graduate/Professional PLUS loan.
You don't have to start making payments until six months after you graduate, leave school, or drop below half-time enrolment.
Please access this link for more information.
Private Loans
Private Loans are not federal loans but are available to most US citizens.
Students studying in the UK are not eligible for Perkins Loans or Pell Grants.
Students who are unable to take out US federal loans or who do not meet the criteria for a US federal loan can borrow from private lenders in the US. For instance, students wishing to study a course which is not approved for federal US loans (Nursing), or students on distance learning courses based in the US but enrolled on a UK degree course at GCU.
We advise that if you are eligible for US federal loans, you investigate these before applying for a US private student loan, as federal loans are often cheaper and most American students are eligible for them. Please note that US private student loans do not enable you to borrow more funds than US federal loans.
If you wish to apply for a private US student loan, please email US Federal loans. From May onwards, the Student Funding Team will email you a Cost of Attendance to inform you of the amount of loan you are able to borrow.
The University will work with whichever private lender you decide to use. Private loan applications with Sallie Mae must not exceed 180 days between the application date and disbursement date.
You are advised to compare the terms, charges, and interest rates before taking out a private loan.
The Student Funding Team will certify your Sallie Mae loan application once you have registered at GCU. We will request the loan be payable in two instalments and this will be received by Electronic Transfer through our third party servicer Western Union. The University will allocate any Tuition Fees and Accommodation Fees to be paid from the private loan, and pay the student any remaining funds.
