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How to Apply for Financial Aid

Applying for financial aid may seem very difficult, but it is really as easy as typing a few letters and pushing a few buttons, especially if you apply using “FAFSA on the Web”. There are a few things that you should know and do prior to starting the application process and will make it a lot easier for you to complete. First review the Eligibility criteria, then “Gather the Needed Documents” then you should be set to go.

Eligibility

Gather Needed Documents

Requesting a PIN (Personal Identification Number)

Each year that you apply for financial aid you can use your PIN to access and electronically sign your FAFSA. You and your parents do not need to apply for a new PIN from one year to the next. The PIN stays the same.

If you, or your parents, do not have a PIN you can apply at Federal Student Aid's PIN Web site

Completing the FAFSA Online

To receive student financial aid, you need to fill out a Free Application for Federal Student Aid (FAFSA) every school year. If you completed the FAFSA in the previous year, you may complete the RENEWAL FAFSA.

You will need the school code for Olive-Harvey College:

Check Status of a Submitted FAFSA

You can check the status of your FAFSA 3 to 5 days after submitting it by going to www.fafsa.ed.gov. You may also submit corrections at this site.

Once the FAFSA has been processed by the Central Processing Service (CPS), the results will be printed on a Student Aid Report (SAR). If all the information is valid, the SAR will have an EFC or Expected Family Contribution. The Student Aid Report will also have other important information on it, so be sure to read all of the comments.

During the application process, some students are selected for a review called Verification. Students must provide documentation regarding the information reported on the FAFSA. Documentation can include, but is not limited to signed copies of a U.S. 1040 IRS form(s) (A, EZ) as well as a signed Verification Worksheet. Other documentation may be required.

If there is additional information needed, Olive-Harvey College’s Financial Aid Office will send you a “Missing Information Letter”. You should respond within 10 days of receiving the letter.

Once all documentation is submitted and necessary verification is completed, students will receive an award letter.

Financial Aid Funds Awarded

Below are federal and state funds that are awarded based on the completion of the FAFSA.

Other awards include:

There are 3 separate functions of having a student’s account paid by financial aid.

  1. Awarding – Occurs when valid documents are received, reviewed and corrected (if necessary).Most awards are need based. Some awards are given on “1st come - 1st served” basis.
  2. Disbursing - The process of paying tuition, fees and perhaps book expenses with financial aid funds.
  3. Refunds - If financial aid funds are more than school expenses, the difference may be given to the student as a refund.   Refunds may be delivered by way of a check or through direct deposit to a student's bank account.  To receive a refund through direct deposit go to the Financial Aid Forms page and print and complete the Direct Deposit Enrollment Form and submit it with a voided check to the Financial Aid Office in Room 1410.
Student