State & Federal Aid

It starts with the FAFSA

If you are seeking financial aid to attend Olivet College, you will need to complete the Free Application for Federal Student Aid (FAFSA). Olivet College’s FAFSA Code is 002308. By completing this application and listing Olivet College as your top choice, you can apply for federal, state and need-based Olivet College financial aid.

State & Federal Grants

Michigan Tuition Grant
The amount varies up to a maximum $2,800 annually. Available to Michigan residents who graduated from a Michigan high school and is dependent upon financial need and state funding. In order to be considered, you must list Olivet College as your first college choice on your FAFSA by March 1.

Federal Pell Grant 
Amount varies. The Federal Pell Grant Program provides need-based grants to students, which do not require repayment. One-half of your Pell Grant will be credited to your account each semester. Maximum for the 2021-22 academic year is $6,495.

Federal Supplemental Educational Opportunity Grant
Amount varies up to a maximum $4,000.

Student Work Study
Amount varies up to $1,000 per year.

Federal Loans

Federal Stafford Loan

Freshman Year – $3,500 subsidized/$2,000 unsubsidized
Sophomore Year – $4,500 subsidized/$2,000 unsubsidized
Junior and Senior Year – $5,500 subsidized/$2,000 unsubsidized

Federal Direct Parent PLUS Loans

The Federal Direct Parent Plus loan is not need-based and is available to parents of dependent students. The interest rate is fixed at 5.3% for those loans disbursed on or after July 1, 2020 and before July 1, 2021. To complete a Master Promissory Note (MPN) and application, please visit the Federal Direct Parent Plus Loan Web site.

If you are borrowing a Federal Direct Loan at Olivet College for the first time, you must complete entrance counseling and a Master Promissory Note online. To complete these federal requirements, please visit the Federal Stafford Direct Lending Program.

Olivet College offers plans which provide families a way to pay additional balances in installments. You may register for a payment plan by emailing Shawn Hagadon or calling 269-749-7607.

FAFSA Process

Remember, Olivet College’s FAFSA Code is 002308. FAFSA is year specific, so you will want to complete the application for the year you plan to attend college.

The FAFSA takes approximately four to six weeks to process before we receive notification of your awards. We will then send you your Financial Aid Award Letter. This letter will notify you of any grant and scholarship money that you are eligible to receive from Olivet College. The award letter will also notify you of your Federal Direct Loan eligibility. Once you have reviewed and accepted your financial aid award, you may apply for this loan online.