2. Part-Time Enrollment Qualifies for Financial Aid.
Students DO NOT need to enroll full-time to qualify for Financial Aid. Part-time students can receive Financial Aid. To ensure academic success, it is important to balance credit hour load and personal responsibilities (work and family obligations). Be sure to ask for help!
3. Eligible Programs
Not all programs offered are aid eligible programs. To receive aid, students must declare a program of study that requires at least 16 credit hours for completion AND at least 15 weeks of study for completion.
4. Class attendance – Is it required?
To receive federal financial aid dollars, YES! If you are not attending classes, you have not established eligibility for your financial aid, and we MUST reduce or hold your financial aid until you are in good standing with your class or classes.
5. Satisfactory Academic Progress (SAP) must be maintained.
Federal regulations mandate that a student receiving financial aid under Title IV programs must maintain Satisfactory Academic Progress (SAP) in his/her course of study regardless of whether or not financial aid is awarded each semester. Students are responsible for understanding and adhering to the satisfactory academic progress policy. Satisfactory Academic Progress (SAP) will be measured at the end of each term for all students.
6. Declaring a Major.
Students with Undecided or Pending majors must declare a major before or at 30 hours attempted to maintain eligibility for Financial Aid. This is an institutional requirement as part of our Satisfactory Academic Progress policy as it relates to Pace Progression.
7. Purchasing Textbooks.
If your FAFSA was selected for review in a process called Verification, then you must follow the Verification Procedures on our website. In this process, OCTC (the school) will be comparing information from your FAFSA with information from copies of your (and your spouse’s, if you are married, or your parent’s, if you are dependent) 2011 Federal Tax Return Transcript, and/or with W-2 forms and/ or other financial documents. Federal Regulations grant the college the right to ask you for this information before awarding federal aid.
9. Earn your keep.
Financial aid funds are earned by students through their academic progress. The award year is from July 1st through June 30th. Unused funds for the award year can be carried over to summer until depleted.
10. Words of Wisdom -- Go to Class! -- Stay in Class! -- Pass your Class!