FAFSA Policies & Procedures

The Olympic College Financial Aid office is required by the federal government to verify the accuracy of randomly selected FAFSA applications. About one in three applications are selected by the Department of Education for verification.

If your application is selected for verification, you and in some instances your parents, will be asked for additional information. You’ll be asked to complete a verification form and submit your tax return transcript (or parents’ tax return transcript). Additional documents may be requested.

OC Financial Aid staff may also select an application for verification to clarify discrepancies within the application.

The Financial Aid office can help you with the verification process, including access to the required form.

Financial aid is not awarded until verification is complete.

The typical aid package processing time is three-to-six weeks from when your application is reviewed and accepted as “complete.”

Allow up to eight weeks from March through September when application volumes are heavy.

The Financial Aid office assigns a “completion date” to your application once all forms and additional documents requested have been received. Applicants receive their annual financial aid package based on completion dates. 

During the application review process, more documentation may be requested from you to clarify any discrepancies. Be ready to supply additional documents as needed because a completion date won’t be assigned until they’re received.

The financial aid application process must be completed annually.

Track the status of your financial aid application find out when your aid has been awarded by logging in to your ctcLink Student Homepage. Click on the 'Financial Aid' tile.

Aid packages are subject to change. Check ctcLink weekly, even after your aid package has been awarded and you have received your aid.

Application Status

Look for “application status messages” to see where your application is in the review process. You’ll see message like, “Ready for Review,” meaning all required documents have been received and your application will be reviewed based on the date it was deemed “complete.”

If you see 'Submit Required Forms/Information,' your application has been selected for Verification or additional documents/information are needed to consider your application complete. For questions on status messages, contact the Financial Aid Office.

Aid Package Status

• Offered: Your financial aid package is preliminary, pending final validation. 
• Accepted: Your financial aid package has been validated and accepted for disbursement at the next schedule disbursement date.

We use the following formula to determine your eligibility for financial aid:

Cost of Attendance (minus) Expected Family Contribution (equals) Financial Aid eligibility.

Cost of Attendance

Cost of attendance is the figure provided by colleges and/or college financial offices that estimates the total costs of attending that particular school for a period of one year.

Expected Family Contribution

Expected family contribution is a measure of your family's financial strength and is calculated according to a formula established by law. Your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) are all considered in the formula.

All financial aid disbursements/refunds are issued through BankMobile. For more information visit the Bank Mobile website. 

Financial aid is issued to the school on the first day of each quarter. These funds are applied to your tuition and fees first. Any remaining amount after tuition and fees have been paid will be disbursed to you through BankMobile using the payment option you selected.

NOTE: If you have applied for a federal student loan AND you are first-time borrower, your loan funds will not be disbursed until 30 days into your first quarter of enrollment.

Financial aid is packaged for each student based on full-time enrollment (12+ credits). If your financial aid has been packaged and you register for less than 12 credits, you may complete an Enrollment Status Change Form and submit it to the Financial Aid office. Your financial aid disbursement and subsequent refunds may be delayed if you do not notify the Financial Aid office of your enrollment change. 

Note: If you are currently following an approved Academic Plan as part of an extension of aid (nearing or exceeds program limit) then you must register for only those classes that are approved within your Academic Plan, even if this means you are not enrolled full-time.  If you register for classes that are not approved on your academic plan, your financial aid package may be reduced or rescinded. 

Withdrawing from classes can affect your financial aid award amount and you may be required to repay all or part of your award depending on when you withdraw. If you are on Financial Aid, and considering withdrawing from your classes, contact the the Registration Office for information and assistance. 

You can officially withdrawal by emailing the Registration Office, in-person at the Welcome Center, or via the Virtual Student Services Office. For more info, visit the Withdrawal webpage.

State Grant Recipients

Recipients of the Washington College Grant, College Bound Scholarship, or Passport to College who withdraw from Olympic College (OC), are dismissed, or complete zero credits in any term may be required to repay state grant aid. 

If a student’s last date of attendance can be verified and is prior to or on 50% of the term, the repayment amount of state grant aid will be based on the percent of the term not completed. If a student attends more than 50% of the term, no repayment is required. 

More info: State Grant Aid Repayment Policy

Federal Financial Aid recipients

Recipients of federal financial aid such as Federal Pell Grants, Direct Loans, Direct PLUS Loans, and Federal Perkins Loans who withdraw from Olympic College (OC), are dismissed, or complete zero credits in any term may be required to repay state grant aid. If a student attends more than 60% of the term, no repayment is required. 

If a student’s last date of attendance can be verified and is prior to or on 60% of the term, the repayment amount of state grant aid will be based on the percent of the term not completed. This federal policy is known as the Return to Title IV Policy. 

More info: Return to Title IV Policy