Frequently Asked Questions

Active Duty Military and/or Dependents

What tuition rate do active duty military or their families pay for classes?  Active duty military stationed in Washington State, and their family members are charged Washington State Residency tuition rates.

Do active duty military and their families have to report nontaxable income?  YES, the FAFSA Worksheet B requires that military report nontaxable income when they apply for financial aid.  Nontaxable income includes; the value of allowances for housing, subsistence, clothing, and combat zone pay, etc.

Application Deadlines

What are the financial aid application deadlines?  The first thing that financial aid applicants need to know is that financial aid at Olympic College is awarded on a first come, first served basis.  Those applicants that submit all required application materials the earliest are awarded their financial aid first.  Financial aid awards are made throughout the academic year.  An academic year begins during the summer quarter of each year and runs through the Fall, Winter, and Spring quarters.  Financial aid applicants may apply for financial aid for any term(s) within the academic year at any time throughout the academic year. 

Students may apply for financial aid for an upcoming academic year commencing January 1 of each year.  March 1 of each year is our deadline for early consideration of financial aid awarding for the upcoming academic year.  If all required financial aid applications and support documents are correctly filled out and received in our office by March 1, we can guarantee award processing by the beginning of the upcoming Summer term.  All financial aid application packages received after March 1, will still be processed on a first come, first served basis. 

Retroactive financial aid awards are possible, however, early application is to your advantage, as some funds are very limited and may not be available for late applicants.  In addition, a flood of "last minute" applications creates a backlog and may cause a delay in processing your award.  When limited funds are awarded on a "first come, first served" basis, it is definitely in your best interest to be first.
 

Cost of Attendance

What is the Cost of Attendance at Olympic College?  In awarding financial aid, Olympic College uses a nine month standard budget to determine a student's Cost of Attendance (COA).  The budget for a Washington State Resident and active duty military members stationed in Washington State, and their family members, for the 2007-2008 academic year (summer 2007 through spring 2008) are:

Note: For students attending Olympic College for four terms, the COA is adjusted to reflect the cost of the additional term of enrollment.

Financial Aid Awards

How is Financial Aid Awarded?  When ALL required forms and documents are received in a complete and correct manner, and on file in the Olympic College Financial Aid Office, a completion date is assigned to the application package.  When the financial aid office begins awarding all application packages are awarded in completion-date-order.

If early application is not possible, and you predict you will need financial aid to help pay your tuition, complete the application process at least two months in advance of when payment for your tuition will be due (payment of tuition is normally due to the cashier within two working days after you register for your classes).

The later your application, the more likely it is that funds will be limited and/or you may not receive your financial aid award in time to pay toward your tuition before the due date applied by our registration office.

If your application package is late, you will still be eligible for aid (if you qualify).  However, you may not receive your aid by the tuition due date.  Therefore, if you apply late (i.e. you applied less than 2 months before tuition is due for the quarter in which you want to start), know that you may need to find a way to pay for tuition by the due date.

Note:  Financial Aid is awarded based on a student’s projected enrollment status.  Enrollment status is the number of credits in which a student enrolls; i.e. Full-time (12+ credits), 3/4 time (9-11 credits), 1/2 time (6-8 credits, and Less than 1/2 time (1-5 credits). Students must provide a projected enrollment status, and enroll at the projected enrollment status to receive aid.  Students may change their projected enrollment status by submitting an “Enrollment Change Form” to our Financial Aid Office.

How do I receive my financial aid award?   Most financial aid comes in the form of Grants, Loans, or Scholarships.  If you are awarded financial aid grants in advance of when you must pay tuition, and you enrolled in the enrollment status that you predicted (i.e. Full, 3/4, 1/2, or less than 1/2 time student), your grants will automatically be applied to your tuition costs.  If you are not enrolled in the enrollment status that you predicted, no financial aid will be awarded until you are registered for the number of credits that you predicted, or you change your enrollment status our financial aid office by completing and submitting an Enrollment Change Form. 

If your grants are not enough to pay all your tuition and fee costs, you must pay the balance.  If your grants amount to more than your tuition and fee costs, you will receive a check for the difference.  Financial Aid checks are never available before the first day of class, and even later than the first day of class for the Summer term.  You may pick up your check from the Security Office prior to 3:00 p.m. on the first day of class. Checks not picked up by 3:00 p.m. will automatically be mailed.  To pick up a check you will need photo identification.

If you are awarded a loan, the loan disbursement date is normally 30 days after the course convening date. If you have been awarded a loan and need the loan to pay for your tuition, you may arrange for a “Bridge Loan” to cover your tuition costs.  A Bridge Loan allows you to borrow against the loan for which you have been approved.  Students interested in applying for a Bridge Loan must get the Bridge Loan instructions and application form from the Olympic College Financial Aid Office.

Protecting Your Privacy

When applying for financial aid a lot of privileged information is provided to the college.  How is the information that I provide to the Financial Aid Office protected?  The information you submit to our Financial Aid Office becomes college property. However, Federal Privacy Act policies are enforced at Olympic College and our Financial Aid Office will not share protected information with parents, siblings, spouses, etc., unless you have provided a signed release (Authorization to Release Information Form) naming an individual and that individual can be positively identified.  Specific Information regarding an individual's financial aid award award will not be shared unless photo identification is presented and the requestor can positively be identified.

Repaying Financial Aid

What happens if I can't attend a class for which I am receiving financial aid?  If you never attend or stop attending a class for which you receive financial aid you will most likely owe a repayment for aid that has been distributed to you.  To avoid federal repayment obligations, you must be able to prove that you attended all of your classes at least once during the term, and you must complete at least one of your classes with a passing grade.

If you think you may not be able to attend a class, contact the financial aid office, right away.  The financial aid office may be able to recommend a way to avoid repayment obligations.  If you owe a repayment of financial aid, all further aid consideration is cancelled.  Read the details about  Repayment Regulations.

Satisfactory Academic Progress

What academic standards must I achieve to receive financial aid?  Your grades can affect your financial aid consideration.  See our standards of Satisfactory Academic Progress to understand the standards for completing credits and grade point averages.  Please print out that page, or get a copy of that text from the Financial Aid Office. Ask questions if you do not understand the Standards of Satisfactory Progress required of you to receive financial aid.  

Shelton, Poulsbo & Bangor Students

How does taking classes at the Shelton, Poulsbo, or Bangor Olympic College education sites affect my financial aid?  Financial aid consideration is available to any eligible Olympic College student, regardless of where classes are attended, and all students attending classes at either the main campus or branch education site must list the Olympic College Federal school code number, 003784 when applying for their financial aid.  The Olympic College Financial Aid Office is located on the third floor of the College Service Center (CSC) on the main campus in Bremerton.  All financial aid documents must be submitted to our financial aid office by mail, fax, or in person.  Branch campuses do not have financial aid personnel on staff you assist you. 

Summer Students

Is financial aid available for summer students?  Financial aid is available for Summer students. However, students eligible for Summer financial aid in excess of tuition and fees will not receive the remainder of their financial aid check until after July 1 of each year.  Students in this category are required to purchase books and supplies out of pocket and wait for the remainder of their grant to be paid in early July.  Inability to buy your books at the beginning of your Summer classes will not excuse financial aid cancellation if you fail or stop attending those classes.

Note:  Spring Quarter grades are usually not released until after the beginning of Summer classes. This means unsatisfactory Spring grades could result in cancellation of Summer financial aid, even after you have registered and begun attending Summer classes.

Financial Aid Notification

What Happens After You Apply for Financial Aid?  If you are awarded financial aid, you will receive a Financial Aid Notification letter from the OC Financial Aid Office.  The award notification will indicate the sources and amounts of aid offered for each quarter in which you project attendance at OC.  You will receive information with your award letter that will explain in detail what your award means; be sure to read it!

If this aid is not adequate for your needs, you may wish to borrow a Stafford Loan. To be considered for a Stafford Loan, additional application steps are required (see Student Loans link at the left).

Qualifying for Financial Aid

Who Qualifies for Financial Aid?  Almost all students qualify for some form of financial aid, especially the Stafford Loan. Most financial aid is awarded on the basis of financial need. Financial need is defined as the difference between the college's estimate of your cost of attendance and what the Federal government determines as the amount you should be able to contribute toward those costs. If you feel you will need help in paying for college, you should apply.