Below is a summary of the most common financial aid programs available: 

                1. Academic Competitiveness Grant 

                2. Federal Pell Grant 

                3. Federal Supplemental Education Opportunity Grant
    
                4. Loans (Federal Stafford, Parent Loans, and Private Loans)

                5. Olympic College Grants

                6. Scholarships 

                7. Washington State Need Grant

                8. Tuition Waivers

                9. Work-Study Programs (Federal and State)

              10. Other Programs 

The table below summarises the most common types of financial aid programs, the minimum and maximum awards, the minimum enrollment requirements, and eligibilty criteria such as residency. 

Summary of Financial Aid Programs

*OC Grant may be awarded to the dependants of active duty members of the military stationed locally.

1. Academic Competitiveness Grant

To receive an ACG, a student must be:

• receiving a Federal Pell Grant during the awarding period
• be a US citizen
• be a first or second year student full-time undergraduate student
• have completed a rigours high school program of study.

For the state of Washington a rigourous high school program includes any of the following:

1. A Washington Scholar designee or have met the Washington State Scholar initiative
    requirement, or
2. Have completed all the following high school coursework with passing grades:      

• Four credits of English
• Three credits of Mathematics (including Algebra II)
• Three credits of Social Studies
• Two credits of Science, including a laboratory science, and
• One year of Fine Arts (for which one additional year of study in any of the other subjects required - English, Maths, Social Studies, Foreign Language or Science may be substituted), or

3. Have completed at least two Advanced Placement (AP) courses with AP exam score of 3 or 
    higher, or you have completed at least two International Baccalaurette (IB) courses with an IB   
    exam score of 4 or higher.

• If a first-year student, must have completed high school after January 1, 2006
• If a second-year student, must have completed high school after January 1, 2005 and have at least a 3.0 grade point average as of the end of the first year of undergraduate study.

The Federal Pell Grant is awarded to undergraduate students who have not earned a bachelors degree and who are determined to have need for financial aid purposes.  The pell grant is money that students don't have to pay back.

•   Students may qualify if they are enrolled for less than half time to full-time enrollment status
•   Award amount is based on EFC and the enrollment level
•   Students must meet the Satisfactory Academic Progress Standards at Olympic College

3. Federal Supplemental Education Opportunity Grant 

Like the Federal Pell Grant, the FSEOG does not have to be paid back. 

• To be eligible students must have exceptional financial need. 
• Students must be enrolled at least half-time and must meet SAP to qualify.

4. Loans (Federal Stafford, Parent Loans, and Private Loans)

Olympic College participates in the Federal Family Educational Loan Program (FFELP).  The most common loan program under this program is the Federal Stafford Loan which can be subsidized or unsubsidized.

• Interest rate varies from year to year 
• For the Federal Subsidized Loan, the government pays the interest while the student is in school and during grace period
• Unsubsidized portion accrues interest while student is in school
• Student must complete an entrance interview
• Complete a Master Promissory Note (MPN)
• Enroll at least half time (six credit hours)
• There is six-month grace period for repayment from graduation or cessation of academic activities

5. Olympic College Grants

The Olympic College Grant comprise funds derived from tuition charges.  To be eligible a student must be:

• A resident of the state of Washington, or
• Dependent of active duty members of the military stationed locally
• Must not have received a bachelors degree
• Must be enrolled at least six credit hours

6. Scholarships

Several scholarships are available at Olympic College.  Check out the scholarship page for further details. 

7. Washington State Need Grant

The State Need Grant is a need based aid for Washington state residents only.  To be eligible students must meet the following terms and conditions:

• Must not have completed a Bachelors degree
• Must not have completed an Associates degree in the past five years
• Not have exceeded 125% of their academic program
• Family income cannot exceed 70% of the median income of Washington state
• Be enrolled in at least three or more credit hours in an eligible program

                            
                                            CONDITIONS OF AWARD

If you recieve the Washington State Need Grant Program, there are five conditions, with which you must comply.  If you have questions or find that you cannot comply with these conditions, please see a Financial Aid Administrator in the Financial Aid Office.

1.  You do not owe a refund or repayment on a SNG, a Pell Grant, or a Supplemental Education 
      Opportunity Grant, nor are you in default on a loan made, insured, or guaranteed under the 
      Perkins, National Direct, or Federal Family Education Loan programs.  In addition, you are not
      in default on a loan made though a state conditional loan or conditional sholarship program.
2.  This grant is awarded to assist in meeting your educational expenses.  If you withdraw from 
     classes before the end of the term, repayment of all or part of the grant may be required.
3.  You may choose to voluntarily make financial contributions to the Higher Education Coordinating
     Board (HECB) in recognition of this SNG.  All voluntary contributions will be used to provide 
     financial assistance to other students.
4.  The offer of a SNG is subject to, and conditioned upon, the availability of funds.  The HECB and the
     institution through which the grant is awarded reserve the right to withdraw, reduce, or modify the 
     grant due to funding limitations or due to changes in circumstances which affect your eligibility for 
     SNG.
5.  You are not pursing a degree in theology. 

8. Tuition Waivers

To be eligible for Tuition Waivers, you must be Washington state resident attending Olympic College.  Below are details about the tuition waivers:

• Tuition Waivers are not cash awards, but allow student's tuition to be waived
• Other fees are not waived, students will have to meet fee obligations
• Students who already have bachelor degrees are eligible

 9. Work-Study Programs (Federal and State)

Federal and State Work Study programs provide jobs for students who qualify based on financial need.

• Students will have to locate a job on campus or community organization that participates in the program. 
• Students only earn their Work Study awards in exchange for the services provided for their employer.
• Work Study placement is administered by the Student Employment Career Center.

10. Other Programs

There are several other programs that offer financial aid to special populations of students.  Two major programs that provide substantial aid to students are:

• Worker Retraining 
• Opportunity Grants. 

Even though the financial aid office awards these funds, eligibility is determined by their respecitive offices.  Students should contact these offices for determination of eligibility.

Last modified:  June 7, 2009