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You may apply for federal
financial aid including grants, loans and work-study by completing the
following steps:
Step 1:
Log onto
www.pin.ed.gov to apply for a Personal Identification Number (PIN). If
you are required to include parent information on the Free Application
for Federal Student Aid (FAFSA), your parent should also apply for a
PIN. The PIN is used as an electronic signature and will expedite
processing of your FAFSA. Retain the PIN with your financial aid
records. If you already have a PIN, proceed to Step 2.
Step 2:
Log onto
www.fafsa.ed.gov to complete the FAFSA or Renewal FAFSA. Be sure to list
the OLOL College school code, 031062. The FAFSA is available January 1
of each year for the upcoming academic year. File as early as possible
because some programs have limited funding.
Note:
You must
complete the FAFSA in order to be considered for any need-based
scholarships.
After submitting your FAFSA, you will receive a Student Aid Report (SAR)
from the Department of Education (DOE). The SAR is a copy of the
information you provided on your FAFSA. You should review it for
accuracy and make any corrections on the FAFSA website. A copy of your
FAFSA is provided electronically to the OLOL College Financial Aid
Office (FAO). If you have an asterisk (*) by your Expected Family
Contribution (EFC), you have been selected for a process called
Verification and will be required to submit additional documentation.
Step 3:
Complete the
Financial Aid Application and return to the FAO.
Step 4:
Your financial
aid eligibility is determined after the FAO has received your FAFSA and
all required documents provided you are:
a.
Admitted into the College and/or Program;
b.
Meeting Satisfactory Academic Progress (SAP) policy requirements; and
c.
Meeting all other federal eligibility requirements.
Step 5:
An award letter
will be mailed to you detailing the awards you are eligible to receive.
Step 6:
Please return
your award letter within ten (10) days to accept or decline any offers.
Step 7: If you
accept a Stafford loan and are a first-time borrower,
you must complete an
entrance interview and a Master Promissory Note (MPN) online at
www.opennet.salliemae.com in order for your loan(s) to disburse.
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