NEW: OCC Financial Aid Packaging Policy
Effective for the 2017-18 academic year, OCC has a new policy for automatically packaging
student loans and Federal Work-Study (FWS).
The 2017-18 changes are as follows:
- Federal Work-Study (FWS) awarded in first priority order based on the FAFSA information.
- Direct Subsidized Loans awarded to a maximum of $4,500, if eligible.
- Direct Unsubsidized Loans awarded to a maximum of $4,500, if eligible.
- Total combined loans (subsidized and unsubsidized), automatically packaged, will not
exceed $4,500, if eligible.
Students wishing to request additional loan money must:
- Complete the Additional Unsubsidized Loan Request form, available at the Student Financial
Resources and Scholarships offices.
- Complete Financial Aid Awareness Counseling
- Submit both documents to Student Financial Resources and Scholarships.
These changes will assist students in managing their student loans and avoiding excessive
student loan debt. Instead of borrowing money, students can choose the Federal Work-Study
(FWS) Program that provides part-time work on- and off-campus with approved employers.
Students interested in FWS can start the job interview process.
Students Rights & Responsibilities
You have the right to know:
- Federal, state, and institutional financial aid programs available at OCC, including
the application process and deadlines.
- The cost of attendance and college policies on refunds to students who withdraw.
- How OCC determines your financial aid eligibility.
- How much of your financial aid eligibility has been met.
- Financial aid programs offered in your student aid package.
- The amount of financial aid received that is grant or federal work-study aid, and
what portion is a loan that must be repaid.
- How the college determines satisfactory academic progress and the consequences if
you do not make satisfactory academic progress.
- Financial aid is subject to change or cancellation due to changes in federal or state
regulations and availability of funds, as well as changes in circumstances which affect
student eligibility.
It is your responsibility to:
- Complete the FAFSA application accurately and submit it on time.
- Intentional misreporting of information on the FAFSA is a violation of the law and
considered a criminal offense subject to penalties under the U.S. Criminal Code.
- Provide all additional documentation, information, verification, and corrections requested
by Student Financial Resources.
- Read and sign all submitted documentation. Keep copies of all submitted documentation.
- Notify your lender of changes in your name, address, or school enrollment status if
you have an education loan.
- Perform the work that is agreed upon in a College work-study job in a satisfactory
manner.
- Know the deadlines for application or reapplication for aid.
- Understand OCC’s refund and repayment policies.
- Understand and comply with OCC’s Satisfactory Academic Progress Policy.
- Obtain a summer job to help with expenses for the upcoming school year.
- Keep your address current with the Registrar’s Office at OCC.
Falsification of Information
Falsification of information submitted by the student or parents for the purpose of
receiving financial assistance may result in cancellation of assistance, billing back
for assistance received, and referral to the appropriate federal authorities. Student
Financial Resources and Scholarships may be required to verify information provided
on the Free Application for Federal Student Aid by requiring income tax statements
or other documentation of financial status.
