Federal Financial Aid

Federal Title IV Financial Aid helps students with financial need, based on the information from the FAFSA. This financial aid is meant to help you complete an eligible certificate program. While receiving financial aid, students and their families are required to contribute to the cost of education. The amount of aid you can receive is based on your income, assets, number of dependents, and other details.

Eligibility Requirements
To qualify for financial aid, you must meet these requirements:

• Be a U.S. citizen or eligible non-citizen.
• Have a high school diploma, GED, or a state-issued high school equivalency certificate.
• Maintain Satisfactory Academic Performance, as set by the college.
• Be enrolled in an eligible training program.
• Not in default on any federal loan or owe repayment for any grant from previous schools.

If you have questions, please contact the Financial Aid and Scholarship team for assistance.

To keep your federal funding, you must keep Satisfactory Academic Progress (SAP) of 67%.

Students must finish at least 67% of the credits they take.

Equation: (number of credits completed ÷ number of credits attempted = academic performance)

4 credits completed ÷ 6 credits taken = 67%
7 credits completed ÷ 12 credits taken = 58%

At OTECH, 100% on-time completion means:

• Part-time students – Must complete 1 credit every 2 weeks.
• Full-time students – Must complete 1 credit every week.

You must finish your program within 150% (or time and a half) of the program length. If you fall behind, you may lose federal aid.

If you qualify for federal aid, the OTECH Financial Aid team will send you an award letter in an email. This letter shows how much money you can receive, what it can cover, and how it will be awarded to you. It also tells you about other scholarships or financial aid that may be available.

To get your financial aid before classes start, be sure to send all needed information to the Financial Aid office. Sending information late could delay your funding.

To activate your award, you must meet these four requirements:

• Be eligible for federal (Title IV) funds.
• Complete all tasks in your StudentForms portal.
• Be enrolled and have a class schedule.
• Not use federal aid at another college at the same time.

Please contact the Financial Aid and Scholarship team for answers to additional questions.

Federal Financial Aid payments are made to the student before training begins.

If a student withdraws before completing their “period of enrollment,” Financial Aid will calculate how much of the financial aid was earned based on how long the student attended and how much of the program they completed.

• If the student has not earned the full amount that was paid to them, the school will require the student to pay back the unearned amount.
• If the school owes the student for the credit completed, the school will process a post-withdrawal payment. After all outstanding charges are paid, the student may receive a refund.

For more details, refer to the full Return to Title IV Policy.

If you have further questions, please contact the Financial Aid and Scholarship team.

Students will be allowed up to two programs per school year while receiving Title IV funds. OTECH Financial Aid staff will review each Program Change request and evaluate whether a student is meeting satisfactory academic performance and any other eligibility requirements to approve the change.

Please contact the Financial Aid and Scholarship team for answers to additional questions.

Federal Grant Payments
The tech college follows federal rules for paying federal grants in two installments, called payment periods. These periods depend on your program length, academic year, and remaining program time if receiving aid in more than one year.

How Funds Are Disbursed (Paid)

• First Installment: At the start of your program, funds are applied to your tuition and bookstore charges.
• Second Installment: Midway through the payment period, any remaining funds after tuition and bookstore charges are paid, will be issued to you via check or EFT.

If you withdraw before completing the required credits for the payment period, you may need to repay part of the funds.

Evaluation: Your satisfactory academic performance (SAP) is reviewed monthly. Disbursements are made when you reach the required credit hours, either halfway through or at the end of the payment period. Any remaining funds will be released to you based on the evaluation schedule.

Using Residual Funds: Residual funds should be used for education-related expenses, such as tuition, books, tools, housing, transportation, and childcare. Please use your refunded aid wisely.

If you have any questions, contact the Financial Aid and Scholarship team.

To get back financial aid after losing it, you must bring your SAP up to 67%.

This means you must bring your SAP up to 67%. This means you’ll need to pay out of your own pocket for courses until your SAP is at least 67%. If you’ve attempted multiple programs without completing them and are below SAP standards, you must submit an appeal to get eligibility back.

You can submit an appeal if there are extenuating circumstances, and the SAP committee will review each appeal on a case-by-case basis.

Please contact the Financial Aid and Scholarship team for answers to additional questions.

Award Letter – A document that shows how much financial aid you will get.

Cost of Attendance (COA) –The total cost of going to school, including tuition, books, and living expenses.

Expected Family Contribution (EFC) –The amount of money your family is expected to pay for your education, based on financial information.

Free Application for Federal Student Aid (FAFSA) –A free form you fill out to see if you can get federal financial aid.

Grants –Free money to help pay for school that you don’t have to pay back.

Pell Grant –A federal government grant for students who need financial help with school. Pell Grants are money you don’t have to pay back.

Work-Study Program –A program where you work part-time to help pay for school.

Disbursement –When your financial aid money is paid to the school or to you.

Refund –Money left over after your school pays for tuition and fees, sent to you for other expenses.

Verification –A process where your school checks your FAFSA information to make sure it’s correct.

Satisfactory Academic Performance (SAP) –The minimum academic performance standards you need to qualify for or keep federal financial aid.

Funds/Funding –Another word used to mean the money available to help you pay for school.

Payment Periods –Federal grants are paid in two parts, during specific times called “payment periods. These periods depend on your program length and remaining program time if you receive aid in more than one year.

Period of Enrollment –The time a student is approved to receive federal financial aid. It’s usually linked to a payment period and depends on the program length. This period includes the number of credits the student must complete to stay eligible for aid.