Financial Aid Award Information

1. Financial aid is pre-awarded based on full-time enrollment (12 or more credit hours). If you do not enroll for at least 12 credit hours you must inform our office in writing by completing and submitting a Change of Enrollment form.
2. You must attend all classes and meet Satisfactory Academic Progress each quarter; you are responsible for reading and understanding the Satisfactory Academic Progress policy located on our website at: 
   1. Satisfactory Academic Progress Policy

3. Acceptance and use of any financial aid issued to you, without attending all classes constitutes an overpayment, and you will be responsible for repaying part or all of the aid you received.

Your award is based on a combination of factors that include Olympic College’s cost of attendance, your FAFSA/WASFA Expected Family Contribution, any other financial aid resources that you may have (DVR, VA, etc.), your grade level, residency status, the completion date of your application, information listed on your FAFSA, and the availability of funds.

The Financial Aid Office attempts to meet a “Gift Aid Target,” and award you financial aid that includes Pell grant, any Washington state aid you may be eligible for, and institutional aid (Olympic College Grants, Olympic College Tuition Waiver).

If your award letter lists federal or state Work-Study and you intend to work during the enrollment terms indicated on your award letter, you must contact the Olympic College Career Center.

If you Do Not Desire a Work-Study position, please notify the Financial Aid Office in writing.

If you Do Desire Work-Study And are not awarded Work-Study in your award letter, notify the Financial Aid office. As funds become available, our office will reallocate the funds to those on the waitlist on a first-come, first-served basis. Work-Study positions are paid twice monthly based on hours worked.

For more information, visit our Work-Study webpage.

If your award letter lists any loan amounts, it is because you have requested and are eligible for the loan amount and type of loan listed.

1. If, prior to your registration, you have a grant, waiver, or scholarship listed on your award letter, and you are enrolled in at least the number of credits required by the award status on which your awards are based, those funds will automatically be applied to your tuition/fee charges.
2. Waitlisted classes are not considered in tuition and fee calculations and cannot be paid until you are actually accepted and enrolled into the waitlisted class.
3. If you decide not to attend any classes for which you have registered, you must officially withdraw from them prior to the first day of the term. Otherwise, you may receive an unsatisfactory grade and owe a repayment of financial aid.
4. If grants, waivers, or scholarships are not sufficient to pay all of your tuition and fees for a term, you must pay the balance by the tuition payment deadline for that quarter.
5. If you have been awarded a Direct Loan and are a first-time borrower subject to the 30-day delay of your first disbursement, you will be held in your classes and not dropped for non-payment. If your loan will cover your tuition bill, all you need to do is set up your refund preference in BankMobile so that the excess loan that is remaining after tuition is covered can go to you. If your loan is not going to cover the full balance of the tuition owed, you are responsible for the difference and need to secure other funding and/or contact the Cashier's Office regarding payment plan options. 

1. If you are awarded financial aid (at least four or more business days prior to the first day of the term) And
2. Your enrollment status is the same at which you were awarded And
3. You have a balance after all charges have been met, a balance refund may be available to you.

Balance refunds are disbursed no earlier than the following dates:

Balance refunds to first-time borrowers for your first disbursement will be disbursed by BankMobile on the thirtieth day of the quarter. If you have used a Bridge Loan for your tuition or books, your balance refunds will be the amount of your loan proceeds minus charges incurred with your Bridge Loan.

If you have not received your balance refund when expected, one or more of the following conditions may exist:

1. Your financial aid was cancelled due not meeting Satisfactory Academic Progress.
2. You are attending under an approved extension for aid beyond program limits and you have not been following your education plan.
3. You owe a financial aid repayment or owe a debt to the college. If you owe a debt to the college and satisfy your debt, it will take a minimum of three working days for financial aid to be reissued.
4. You have registered for less than full-time enrollment of 12 credits. You must complete a Change of Enrollment form.
   1. Note: Waitlisted classes do not count towards your credit total for financial aid purposes.

If you withdraw from all classes before the term has ended, you may owe a repayment.