Okefenokee Technical College

Okefenokee Technical College 2013-2014 Catalog

HOPE and PELL

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Financial Aid Programs

  • For all awards, students must take classes that are in the program of study. A student taking courses outside his/her major may incur additional financial liability to the College or financial aid ineligibility.
  • The HOPE Grant and HOPE Scholarship pay for a percentage of tuition only. Additional tuition, fees, and book costs over the amount of the HOPE Award are the responsibility of the student.
  • Financial Aid awards may be adjusted if courses are dropped or added and/or student is terminated from college. STUDENTS are expected to notify the Financial Aid Office of any changes in schedules.
  • The PELL Award listed in BannerWeb or on the student’s award notice is based on 12 or more credit hours per term. The PELL award is calculated as follows for students enrolled for fewer than 12 hours:

Hours

PELL Award Calculation

9 – 11.99 federal/regular hours

75% PELL term award

6 – 8.99 federal/regular hours

50% PELL term award

5.99 or less federal/regular hours

25% PELL term award

 

  • If a student withdraws before the 60% mark of the term, PELL will be awarded based on the PELL award calculation for the term times the percent attended for the term.
  • SEOG is awarded term-to-term, based on the PELL EFC number, PELL awarded for the term, number of credit hours for that term, withdrawal status for the term and funds available. A student awarded SEOG one term, does not automatically qualify for an award the next term.
  • PELL, SEOG and Federal Work-study funds are not available for students working toward certain certificates or students whose status is Learning Support, special admit, or a transient.
  • Any requested documentation MUST be submitted before funds can be disbursed.
  • Any excess financial aid funds remaining after tuition, fees, and other charges have been deducted will be dispersed to the student prior to the end of the term.
  • Students are encouraged to reapply for financial aid every year by completing a FAFSA. The financial aid year begins on July 1 of every year and ends on June 30 of the following year.

Determination of Neediest Students

In order to determine how to best use Title IV Campus Based funds awarded to the college in order to assist as many eligible applicants as possible, the needs of all students applying for Title IV eligible funds are taken into consideration. All students are placed in a ranking order based on need; taking into account all known resources that the student may be receiving. Those students showing the greatest need will be awarded any available campus-based aid according to program requirements until such funds have been exhausted for the award year. In the event students who have been awarded campus-based aid refuse the award; gain additional resources that result in an over award situation; leave the College for any reason; or fall below half-time (1/2) enrollment status, the student will lose those funds during the semester awarded and those funds will be awarded to other students based on the above ranking system.

Disbursement Procedures

Generally, students are allowed to use his/her financial aid awards to offset tuition, fees and bookstore charges. The amount of a student’s financial aid award not used is disbursed to the student’s account near the 14th calendar day of classes and issued as a refund to the student within two weeks following the date of disbursement.

Any refund due to a student for the semester is uploaded to the student’s OTC debit card or issued to the student in the form of a paper check if the student has opted out of the debit card program. Students who do not wish refunds to be loaded to an OTC debit card may complete the Opt Out form located on the OTC web site and return the completed form to the OTC Business Office for processing. Additionally, students who do not wish to use their federal financial aid for bookstore purchases may complete a Hold Bookstore Credit form and submit this completed form to the OTC Business Office for processing prior to the first day of class. Note that any financial aid refund check will continue to be processed on the same timeline as payments for students who do utilize their financial aid balances in the bookstore. If picking up a paper check, a student must provide the Business Office with his/her current OTC student identification card before being issued his/her refund check. If the student chooses not to pick up his/her refund check in person on the posted date, the Business Office will mail the refund check within one week to the student’s last reported address.

Changes to a student’s class schedule may result in an adjustment to the student’s financial aid award(s) for the semester due to changes in total number of hours enrolled, tuition and fee adjustments, and/or bookstore charges. In addition, when a student fails to complete courses; requests a pre-class withdrawal; no-shows for a class; or totally withdraws from all courses during the semester, his/her financial aid award(s) may be adjusted during the semester.

At the time of disbursement:

  • A student must be accepted for admission to OTC in an eligible degree, diploma, or certificate program.
  • Student must be enrolled before funds may be disbursed.
  • Student eligibility must be confirmed by the Office of Financial Aid before funds are disbursed.
  • A student eligible for Federal and State Aid must have submitted a valid Student Aid Report in electronic form to the Office of Financial Aid before funds are disbursed.

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