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Financial Aid FAQs

What is the financial aid application priority processing date?

Financial aid awards are made throughout the academic year. Students may apply for financial aid for an upcoming academic year commencing October 1 of each year. April 15 of each year (unless otherwise posted) is the priority processing date for early consideration of financial aid awards for the upcoming academic year. For the 2017-2018 award year, because April 15 falls on a weekend, the priority date is extended to April 17, 2017.

Due to a high volume of applicants, please allow 3 to 6 weeks (up to 8 weeks during May thru September when volumes are heavy) to process a financial aid application from the date all documents are received, the date the file is considered complete.

Students who meet the priority processing date:

All applications completed by the priority processing date will be reviewed and awarded for those planning to attend summer and/or fall quarter, and winter and spring if indicated on the data sheet. Applicants who did not meet the priority date should be prepared to make contingent payment arrangements if your financial aid is not awarded at the time you register for classes.

College Goal Washington is a free, on-site program that helps students and families complete the Free Application for Federal Student Aid (FAFSA), the form that is required to apply for federal student aid to use for undergraduate post-secondary education.  The FAFSA is the single-most important application for financial aid for most colleges and universities.  For details, visit College Goal Washington.  

What is the Cost of Attendance at Olympic College?

Cost of Attendance (COA) is an estimate of how much it will cost a student to attend Olympic College. COA is calculated for every financial aid award and total aid received cannot exceed COA.

 

2017-2018 Standard Nine Month Cost of Attendance 

Cost Component
Not Living with Parents Living with Parents
Tuition and Fees 3,618 3,618
Books and Supplies 840 840
Room and Board 9,696 3,216
Personal Expenses 2,070 1,830
Transportation 1,140 1,140
TOTALS: $17,364 $10,644

Note: This table is a standard nine month budget for a Washington State resident for the 2017-2018 academic year (Fall 2017 Quarter through Spring 2018 Quarter); these totals are based on a student enrolled in 6 or more credits. 

When all required forms and complete documents are received in the Financial Aid Office, a completion date is assigned to the application package.  Application packages are then awarded based on assigned completion dates.  Financial Aid is awarded based on full-time (12 or more credits). If you register for less than 12 credits, submit an enrollment change form to our office. Awards (except loans) are prorated (reduced) for less than full-time enrollment.  For loans, you must be enrolled in at least 6 credit-hours per quarter to be eligible. If you change your enrollment status AFTER receiving your financial aid, you should contact the Financial Aid Office before spending any disbursement funds you receive; failure to do so may result in a debt owed to Olympic College or cancellation of your financial aid, or both. Click here for more information

Financial Aid Balance Refunds

Disbursed by BankMobile 


Financial aid is initially disbursed directly to the school and applied to tuition. Any financial aid in excess of tuition (called a refund) is disbursed to the student through BankMobile Disbursements, a third-party servicer approved by the Department of Education. You have options how to receive your funding when you select your refund preference. Options include:

ELECTRONIC DEPOSIT TO ANOTHER ACCOUNT: Money is transferred to another account the same business day BankMobile receives funds from your school. Typically, it takes 1-2 business days for the receiving bank to credit the money to your account. 

ELECTRONIC DEPOSIT TO A BANKMOBILE VIBE ACCOUNT: If you open a BankMobile Vibe account, upon identity verification, money is deposited the same business day BankMobile receives the funds from your school.

PAPER CHECK DELIVERED BY USPS: A check is mailed the same business day BankMobile receives funds from your school, provided receipt is within daily cutoff times. Typically, it takes 5 - 7 business days for the check to arrive, depending on USPS First-Class delivery timeframes.

When you complete your FAFSA application a BankMobile Refund Selection Kit will be mailed to you. Look for a GREEN ENVELOPE in the mail. Click here to learn more: RefundSelection.com

The Federal Educational Rights and Privacy (FERPA) Act protects all non-directory information from being shared with unauthorized third parties such as parents, siblings, spouses, etc.... Unless you have completed a signed release naming an individual who can be positively identified, we cannot share your information. Students must complete consent forms in person at the branch campuses. The financial aid office will only accept faxed consent forms from branch campuses, if the student has completed them in person at the branch campus.

Repaying Financial Aid

What happens if I cannot 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.  If you think you may not be able to attend a class, contact the financial aid office for guidance BEFORE you drop your class.  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 until the debt is repaid.  A financial aid debt can never be waived, regardless of extenuating circumstances. Read the details about  Repayment Regulations.

In order to continue receiving financial aid, you must meet minimum standards in both your GPA, completion rate of classes you enroll in, and make progress towards degree completion.  This policy is know as SAP.  See our Satisfactory Academic Progress policy to understand the standards for completing credits and grade point averages.

 

Note:  Grades are not released until after each quarter ends. Those awarded financial aid are responsible for monitoring at the end of each quarter if SAP has been maintained. Those in good standing or on warning will receive their financial aid the following quarter. Those who did not maintain SAP, their financial aid is cancelled. 

How does taking classes at the Shelton or Poulsbo campuses 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 in an eligible program at the main campus or branch campuses must list the Olympic College Federal school code number 003784 when applying for their financial aid.

Verification is a process where the Financial Aid Office confirms the accuracy of information provided on the FAFSA.   This process requires students and in some instances parents to verify information provided on the FAFSA.  At Olympic College, students who are selected for verification will need to turn in a verification form, their tax return transcript and parents' tax return transcripts (if dependent student) and other additional documents as requested.  Financial aid is not awarded until verification is complete.

 

This calculator will give you an estimate of the type and amount of aid students in similar financial situations as you have received to attend Olympic College. This is an estimate only and NOT a promise of an award to you. The estimated award you will see below is based on the aid we awarded to students in the 2012-2013 year. Many factors go in to deciding what award a student receives and these can change from year to year, such as the funding available from state, federal and institutional sources, the federal expected family contribution formulas, the relative amount of need of all the students at OC , and the cost to attend OC.

In compliance with consumer information regulations, note that this Net Price Calculator is not binding with ED, the state, or Olympic College.  Information presented in the net price calculator is subject to change. You must file a FAFSA and meet all eligibility criteria as defined by state, federal, and institutional rules.

Go to Net Price Calculator for more information. 

When it comes to receiving financial aid refunds and other credit balances, you deserve choices! Olympic College has partnered with BankMobile Disbursements to deliver any refund money we may have for you. You will select your refund preference using your personal code, which will arrive in your Refund Selection Kit. This kit will be sent in a GREEN ENVELOPE to your address on file with Olympic College.

Look for your Refund Selection Kit. It will arrive in a GREEN ENVELOPE and contain your Personal Code. Once you have your code, follow these easy steps:

1. Visit RefundSelection.com

2. Enter your Personal Code

3. Select how you'd like to receive your money

Refund options are:

ELECTRONIC DEPOSIT TO ANOTHER ACCOUNT: Money is transferred to another account the same business day BankMobile receives funds from your school. Typically, it takes 1-2 business days for the receiving bank to credit the money to your account. 

ELECTRONIC DEPOSIT TO A BANKMOBILE VIBE ACCOUNT: If you open a BankMobile Vibe account, upon identity verification, money is deposited the same business day BankMobile receives the funds from your school.

PAPER CHECK DELIVERED BY USPS: A check is mailed the same business day BankMobile receives funds from your school, provided receipt is within daily cutoff times. Typically, it takes 5 - 7 business days for the check to arrive, depending on USPS First-Class delivery timeframes.

Visit Refundselection.com for more information. 

Yes. There are different but similar regulations governing what aid you have earned during a period of enrollment. The U.S. Department of Education requires the college to calculate a repayment for any student that withdraws from, or stops attending all classes before 60% of the quarter has been completed. 

Please see the the repaying financial aid page for more information. 

Military students and dependents applying for Financial Aid will need to report all military untaxed benefits (housing allowance, cost of living allowance, etc.) on their FAFSA and provide documentation of untaxed income or benefits to the Olympic College Financial Aid Office.

Annual untaxed benefit information is available on the military member's December Leave and Earnings Statement (LES).  If applying for the 2016-2017 OR the 2017-2018 award year, the December 2015 LES is used to compute your eligibility for financial aid.

Please use the links below to aid you in reporting untaxed benefits (if you are unable to obtain your LES):

Military Untaxed Benefits Worksheet  Military members and their families received untaxed income per year.  This form is used to indicate the amount of untaxed military benefits received by a financial aid applicant.

The Defense Finance and Accounting Service will provide you with Leave and Earning Statement (LES) Information and Basic Allowance Rates to help in the computation of untaxed income and benefits.  The DFAS system is a useful tool that can be used to complete your Military Untaxed Benefits Worksheet.  The information you will need to get the 2015 calculation is your 2015 duty zip code at the time you were active, and yes or no to dependents.

Leave and Earnings Statement (LES).  If you provide our financial aid office with a copy of your LES, please indicate on your LES if you did, or did not live in base housing.  If you did not live in base housing, you will need to provide the zip code and indicate yes or no to dependents for the military member's address of record.

Military students and dependents applying for Financial Aid will need to report all military untaxed benefits (housing allowance, cost of living allowance, etc.) on their FAFSA and provide documentation of untaxed income or benefits to the Olympic College Financial Aid Office.

Annual untaxed benefit information is available on the military member's December Leave and Earnings Statement (LES).  If applying for the 2016-2017 OR 2017-2018 award year, the December 2015 LES is used to compute your eligibility for financial aid.

Please use the links below to aid you in reporting untaxed benefits:

Military members and their families received untaxed income per year.  This form is used to indicate the amount of untaxed military benefits received by a financial aid applicant.

2016-2017 Military Untaxed Benefits Worksheet (for 2015 benefits).

2017-2018 Military Untaxed Benefits Worksheet (for 2015 benefits).

The Defense Finance and Accounting Service will provide you with Leave and Earning Statement (LES) Information and Basic Allowance Rates to help in the computation of untaxed income and benefits.  The DFAS system is a useful tool that can be used to complete your Military Untaxed Benefits Worksheet.  The information you will need to get the 2015 calculation is your 2015 duty zip code at the time you were active, and yes or no to dependents.

Leave and Earnings Statement (LES).  If you provide our financial aid office with a copy of your LES, please indicate on your LES if you did, or did not live in base housing.  If you did not live in base housing, you will need to provide the zip code and indicate yes or no to dependents for the military member's address of record.

If you are a Direct Stafford Loan borrower, you have an obligation to repay what you borrow even if: you don't finish school, are dissatisfied with your education, or you can't get a job.  There are resources available to help you manage student loan debt. Learn more by going to the Student Loan Repayment Assistance page.