Slide Notes
Financial aid is money provided by the federal government, school, state government, and private sources.
Federal and State sources are the largest sources of assistance.
The various sources provide the funds and the College is responsible for determining eligibility, disbursing funds, and reporting.
The major types of financial aid from Federal and State sources are :
1. Grants - "Free Money" Grants do not have to be repaid.
2. Federal Work -Study Program - provides financial aid as wages which do not have to be repaid, from working part-time on campus, tutoring, or community service positions.
3. Student Loans - Federal Direct Stafford loans are low interest educational loans available to college students who are enrolled at least half time (6 credit hours at OCCC), are pursuing a degree, are making Satisfactory Academic Progress, and meet other basic eligibility requirements. The lender is the U.S. Department of Education. There are 2 types of Stafford loans: Subsidized and Unsubsidized. The interest rate for loans disbursed on or after July 1, 2017 and before July 1, 2018 on both Subsidized and Unsubsidized loans is 4.66%. Visit www.studentloans.gov for additional information relating to borrowing and repaying students loans.
4. Scholarships- Oklahoma's Promise is a state scholarship program that pays for tuition for up to five years for students to earn a bachelors degree. Students apply while in 8th, 9th, or 10th grade and maintain eligibility through high school graduation
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Federal and State sources are the largest sources of assistance.
The various sources provide the funds and the College is responsible for determining eligibility, disbursing funds, and reporting.
The major types of financial aid from Federal and State sources are :
1. Grants - "Free Money" Grants do not have to be repaid.
2. Federal Work -Study Program - provides financial aid as wages which do not have to be repaid, from working part-time on campus, tutoring, or community service positions.
3. Student Loans - Federal Direct Stafford loans are low interest educational loans available to college students who are enrolled at least half time (6 credit hours at OCCC), are pursuing a degree, are making Satisfactory Academic Progress, and meet other basic eligibility requirements. The lender is the U.S. Department of Education. There are 2 types of Stafford loans: Subsidized and Unsubsidized. The interest rate for loans disbursed on or after July 1, 2017 and before July 1, 2018 on both Subsidized and Unsubsidized loans is 4.66%. Visit www.studentloans.gov for additional information relating to borrowing and repaying students loans.
4. Scholarships- Oklahoma's Promise is a state scholarship program that pays for tuition for up to five years for students to earn a bachelors degree. Students apply while in 8th, 9th, or 10th grade and maintain eligibility through high school graduation
DOWNLOAD
UPGRADE TO PRO
