3. Gurnick Academy of Medical Arts will process your FAFSA results and mail or email you a Requirements Letter with any additional requirements. This might include citizenship or eligible non-citizenship status documentation, tax returns, IRS transcripts, or other documentation. Gurnick Academy of Medical Arts cannotcontinuetoprocessyourfinancialaidawardswithoutalltherequireddocumentation. 4. Once the student has submitted all required documentation, Gurnick Academy of Medical Arts will mail or email a Financial Aid Plan. 5. To receive federal student loans, complete the Master Promissory Note (MPN), at www.studentaid.gov. First-time borrowers must complete student loan entrance counseling before the student starts, also at www.studentaid.gov. PLUS loans for parents of dependent students require a separate application and MPN, both available at www.studentaid.gov. 6. Students or parents can check with their local banks or credit unions if a private loan is necessary. Gurnick Academy of Medical Arts students have also borrowed private loans from Sallie Mae (www.salliemae.com). Students and parents should know that private loans have different terms than federal loans and generally have a higher interest rate. Federal loan eligibility should always be explored before borrowing a private loan. Students or parents who wish to speak with a financial aid advisor should contact the campus financial aid office by phone or email. RETURNOFNON-TITLEIVFUNDS Students who receive Cal grants and withdraw from Gurnick Academy of Medical Arts must have a calculation similar to the Return of Title IV calculation to determine the unearned portion of Cal Grant funds. The Cal grant portion earned is based on a pro-rata calculation of hours completed compared to those scheduled in the term. WITHDRAWALS&THERETURNTOTITLEIVAID(R2T4)CALCULATION TheU.S.DepartmentofEducationrequiresa“ReturnofTitleIVFunds”(R2T4)calculationforallrecipientsof federal financial aid who withdraw from school, officially or unofficially. This policy is separate from the institutional tuition refund policy described elsewhere in the catalog. The R2T4 calculation determines the proportion of Title IV funds the school and the student must return to the federal government and what amountscanberetainedonthestudent’saccount. Abrief description of the calculation follows. Please see the Financial Aid Office for further information or a moredetailedversionofthecalculation. 1. Thestudent’swithdrawaldate/lastdateofattendanceisdetermined. 2. The % of Title IV aid earned by the student is calculated as follows: Number of clock hours or scheduled days completed / Number of clock hours or scheduled days in the payment period = PercentageofTitle IV Funds Earned* *Thisratio is multiplied by the Title IV aid disbursed plus the Title IV aid that could have been disbursed to equal the Title IV aid earned. Total aid disbursed minus total aid earned equals the federal funds that must be returned to the aid programs. A student who has attended more than 112