Information on Applying for Student Loans per FAFSA Website
Filling out the FAFSA® can be a straightforward and easy process. The online FAFSA at fafsa.ed.gov will guide you through the application; click on the “Start a New FAFSA” button on the home page, and just follow the directions on the screen. Below are some tips to help you along the way.
Getting an FSA ID
You’ll need an FSA ID, a username and password combination that allows you to sign your FAFSA electronically. Your FSA ID also can be used to sign loan contracts and to access certain information online. You can get your FSA ID as you fill out the FAFSA, but you also have the option to get it ahead of time. Find out how to get an FSA ID and what to do if you forgot your FSA ID.
Gathering the Documents Needed to Apply
The FAFSA asks for information about you (your name, date of birth, address, etc.) and about your financial situation. Depending on your circumstances (for instance, when you filed taxes or what tax form you used), you might need the following information or documents as you fill out the FAFSA:
- Your Social Security number (it’s important that you enter it correctly on the FAFSA!)
- Your driver’s license number if you have one
- Federal tax information or tax returns including IRS W-2 information, for you (and your spouse, if you are married) – IRS 1040, 1040A, 1040EZ
- Records of your untaxed income, such as child support received, interest income, and veterans noneducation benefits, for you
- Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate but not including the home in which you live; and business and farm assets for you
- Keep these records! You may need them again. Do not mail your records to us.
Listing Colleges and/or Career Schools
While completing the FAFSA, you must list at least one college to receive your information. The schools you list will use your FAFSA information to determine the types and amounts of aid you may receive. Schools you list on your FAFSA will automatically receive your FAFSA results electronically.
Olivet College School Code – 002308
Taking the Next Steps
Once you’ve completed your FAFSA, there are more steps you have to take before you receive financial aid. Make sure you know what happens after you submit your FAFSA.
Who will I hear from, and when?
First, the office of Federal Student Aid at the U.S. Department of Education will send you a Student Aid Report (SAR), which is a summary of the FAFSA data you submitted. You’ll get your SAR within three days to three weeks after you submit your FAFSA. Be sure to look over your SAR to make sure you didn’t make a mistake on your FAFSA. Find out more about the Student Aid Report, its purpose, how the type of FAFSA you file determines when you’ll get the SAR, and what you should do with it.
The SAR won’t tell you how much financial aid you’ll get. Instead, if you applied for admission to a college or career school and have been accepted, and you listed that school on your FAFSA, the school will calculate your aid and will send you an electronic or paper aid offer, sometimes called an award letter, telling you how much aid you’re eligible for at the school. The timing of the aid offer varies from school to school and could be as early as springtime (awarding for the fall) or as late as immediately before you start school. It depends on when you apply and how the school prefers to schedule awarding of aid.
Please contact Olivet College Student Services at 269-749-7645.
A student wishing to drop a graduate class must notify the registrar, Leslie Sullivan in writing, email is acceptable as well. Students may drop a graduate class with no financial penalty within the first 48 hours of the class start date. Courses dropped in this time period will not appear on a student’s transcript. Graduate students who drop a course will be refunded a percentage of tuition according to the following sliding scale:
|Date of Class Drop||Percent Tuition Refund|
|Up to 48 hours of the first class meeting||100%|
|3 to 9 days after the date of the first class meeting||50%|
|10 or more days after the date of the first class meeting||0%|