Complete the Free Application for Federal Student Aid (FAFSA)
For enrollment periods between 06/25/12 and 06/29/13, complete the
2012-2013 FAFSA using your 2011 Federal tax return information.*
For enrollment periods between 07/01/13 and 06/28/14, complete the
2013-2014 FAFSA using your 2012 Federal tax return information.*
Ottawa University's Federal School Code:
001937
Be sure to electronically sign the application with your Federal Student Aid PIN. Failure to do so will create delays in the processing of your financial aid.
If you don’t already have a PIN, you can
apply for one or
request a duplicate.
*IRS Data Retrieval
You are going to be prompted to use the IRS Data Retrieval Tool while completing the FAFSA. If eligible to use this tool, please do so since this should help to reduce the amount of additional information that we may need to collect later on.
Hints for using the IRS Data Retrieval Tool:
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Have your Federal Tax Return nearby
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Use your exact mailing address as it appears on your Federal Tax Return
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Do not change any of the data after importing it to your FAFSA
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If you had a retirement plan rollover (as indicated in the left margin of your Federal Tax Return near lines 15 and 16), please do not change any of your IRS data and be sure to submit a copy of your 1099-R to us so we can make the appropriate adjustment on your behalf.
You will want to request a Federal Tax Transcript and have it available in the event that you are selected for a process called “Verification”. We will notify you if we need the Tax Transcript, but having it available will reduce any delays in funding.
**Important Note: This step is only to be completed by students obtaining their first student loan with Ottawa University. If this is not your first student loan with Ottawa University please skip to Step 3.
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Sign in with your Federal Student Aid PIN
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Select "Complete Entrance Counseling"
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Upon completion you will be prompted to “Complete a Master Promissory Note”.
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Be sure to choose Subsidized/Unsubsidized when selecting what type of Direct Loan you would like to receive.
Students can use the
Financial Aid Estimators to help them determine the amount to borrow and the projected cash flow scenarios given various enrollment patterns, loan amounts etc.
A
Net Price Calculator is also available to better understand the full cost of attendance.
Once you know the amount of your loan, you can use the
Student Loan Repayment Calculator to get an idea of your monthly payments.
Complete a new Institutional Application
Academic Year 2012-2013 (for classes starting between 07/01/12 and 06/30/13)
Academic Year 2013-2014 (for classes starting on/after 07/01/13)
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All students must complete a new institutional financial aid application each time a new loan is being certified. The institutional financial aid application provides us with the information needed to certify your loan.
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Please return the fully completed pages 1 and 2 of the institutional application to the Financial Aid department via fax or email. Read the directions carefully and do not leave anything blank. If you need assistance, contact your Finance Advisor.
Loan Eligibility
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Undergraduate students must pass 24 credit hours and complete 32 weeks of class (4 terms) in order to be eligible to renew Federal Stafford Loans.
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Typically 6 courses at 4 credit hours each
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Graduate students must pass 18 credit hours and complete 32 weeks of class (4 terms) in order to be eligible to renew Federal Stafford Loans.
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Typically 6 courses at 3 credit hours each
Financial Clearance
In accordance with university policy, each student is required to be financially cleared by the business office prior to the end of the add/drop period. University policy states that, “a student will be disenrolled on the Monday following the last date of the add/drop period if the student is not financially cleared.” The last day of the add/drop period will be Friday of week 2 of classes.
Withdrawing from a Course
Students that wish to withdraw from a course must do so by following the official withdrawal process. Please contact the Registrar’s office if you need information about the correct way of withdrawing from a course. Financial obligations may result based on the date of notification (percentage of class attended) or as a result of unofficial withdrawal (if you stop participating in class but do not officially drop the course). Students who are unable to complete a course are encouraged to officially withdraw since significant financial ramifications could result from being considered an unofficial withdrawal. Upon withdrawal of all credits in a given term, pending financial aid disbursements will be canceled and will require the completion of new paperwork upon return.