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Financial Aid Policies

FINANCIAL AID POLICIES 

The mission of the Financial Aid Office is to help students achieve their educational potential by providing appropriate financial resources, thus enabling students to focus on their programs of study. The goals of the office are to be informative, accurate and timely, and provide friendly personalized attention to students.

ELIGIBILITY
To be eligible for financial aid, a student must be admitted to the Bachelor of Fine Arts, Certificate, Post-Baccalaureate, or Master of Fine Art programs. To apply for federal and state financial aid, the student must first complete and submit a Free Application for Federal Student Aid (FAFSA). Federal and state financial aid eligibility is determined by information provided on the FAFSA. Institutional aid is determined through a combination of merit and FAFSA applications. To be eligible for most sources of financial aid, students must be enrolled in an eligible program and attending at least half time (or 6 credit hours per semester).

FILING THE FAFSA
The FAFSA application is available on the web at fafsa.ed.gov. Students must file the FAFSA every year to maintain eligibility. The College’s federal school code is 030073. For questions or concerns about filing the FAFSA, please contact the Financial Aid Office by email at financialaid@ocac.edu or by phone at 971.255.4224.

Oregon College of Art and Craft does not have a priority filing date. Students who are Oregon residents should always apply as soon as the FAFSA is available. The State of Oregon Opportunity Grant has early filing date requirements for eligibility.
                            
GAINFUL EMPLOYMENT
Students enrolled in the Certificate in Craft or the Post-Baccalaureate programs are enrolled in programs identified by the US Department of Education as Gainful Employment Programs. Information can be found on the OCAC website at www.ocac.edu that includes links to completion rates and other information for the programs. 

AWARD FUND DESCRIPTIONS
The following are brief descriptions of financial aid available to undergraduate students at Oregon College of Art and Craft. Graduate students are asked to refer to the supplemental handbook for their program for award fund information. Available funding is grouped into the following categories: Institutional Aid, Federal and State Gift Aid, College Work-Study, Federal and Other Loans, and Other Funding Sources. Not all students will be eligible for all types of financial aid.

Institutional Aid for Undergraduate Students
Students who are eligible to receive Veteran’s Benefits in the Yellow Ribbon program will have a portion of their institutional scholarship and/or grant reallocated to the OCAC Yellow Ribbon Match fund to meet the obligations of the institution to the Yellow Ribbon Program of the Veteran’s Administration.

President’s Scholarship
Funded by Oregon College of Art and Craft, these scholarships are based on portfolio review and previous academic records and are typically assigned at the admissions stage. The awards are renewable each year based on the following criteria and restrictions: maintaining a cumulative GPA of 2.0 or better; continuing in good academic standing; and maintaining enrollment over 6 credits (half-time). Awards will be prorated for less than full-time enrollment (12 credits).  Students first enrolled during the 2018-2019 award year are required to maintain a 3.0 GPA. 

Scholastic Art Awards Scholarships
Oregon College of Art and Craft partners with the Alliance of Independent Colleges of Art and Design and The Alliance for Young Artists and Writers to support high school arts education and provide funding for students to pursue their passions in college. OCAC is offering four-year Scholastic Art Award Scholarships to graduating high school senior award winners in the following categories: Portfolio Gold Medalists In Art; Portfolio Silver Medalists & Portfolio Silver Medalists with Distinction in Art; Individual Gold Medalist, American Visions Medalists and Sponsored Award Recipients; Individual Silver Medalists in Art. The awards are renewable each year based on the following criteria and restrictions: maintaining a cumulative GPA of 2.0 or better; continuing in good academic standing; and maintaining enrollment over 6 credits (half-time). Awards will be prorated for less than full-time enrollment (12 credits).

Enrollment Services Scholarship
Students who appeal for additional financial support may be awarded the Enrollment Services Scholarship. This award is based on review of the financial aid award package, academic record, and any additional information provided by the student. Appeals are filed with the Director of Financial Aid. This OCAC funded scholarship is usually awarded only in exceptional cases and is determined by Enrollment Services. The award may be eligible for renewal, depending on review of the financial aid package at the beginning of the new year or term. Awards will be prorated for less than full-time enrollment (12 credits).

Commitment to Craft Scholarship
The Commitment to Craft Scholarship was established for returning full-time undergraduate students enrolled in the 2015–2016 academic year. This renewable scholarship remains in place for those same students from 2015–2016 who continue to remain continuously enrolled full-time in subsequent terms.

Oregon College of Art and Craft Grant
The Oregon College of Art and Craft Grant is awarded based on financial need and achieving and maintaining the required minimum GPA of 2.0. Students must enroll at least half-time (6 credits) to be eligible. Awards will be prorated for less than full-time enrollment (12 credits).

Institutional Aid for Graduate Students
Students who are eligible to receive Veterans Benefits in the Yellow Ribbon program will have a portion of their institutional scholarship and/or grant reallocated to the OCAC Yellow Ribbon Match fund to meet the obligations of the institution to the Yellow Ribbon Program of the Veterans Administration.

Commitment to Excellence Scholarship
Funded by Oregon College of Art and Craft and Pacific Northwest College of Art, the scholarship is based on a review of your application materials.  The award is renewable each year based on the following criteria and restrictions:

  • Maintaining a cumulative GPA of 3.0 or better.
  • Continuing in good academic standing. 
  • Maintaining full time enrollment (9 – 18 credits per semester).  Students who enroll in less than 9 credits in a semester will need to submit an appeal to retain a portion of the scholarship.
  • You must be registered and attending OCAC.
  • Students who are eligible to receive Veteran’s Benefits in the Yellow Ribbon program will have a portion of their institutional scholarship reallocated to the OCAC Yellow Ribbon Match fund to meet the obligations of the institution to the Yellow Ribbon Program of the Veteran’s Administration.

 
Graduate Assistantship
The Graduate Assistantship is awarded by semester and requires:

  • A 3.0 PA
  • 120 hours per semester

Applied Craft + Design Scholarship
Funded by Oregon College of Art and Craft and Pacific Northwest College of Art, the scholarship is based on a review of your application materials.  The award is renewable each year based on the following criteria and restrictions:

  • You must maintain a cumulative GPA of 3.0 or better.
  • You must be in good academic standing. 
  • Your scholarship is awarded based on full time enrollment. 
  • You must complete 30 credits each year.

 
AC+D Teaching Assistantships
The AC+D graduate programs awards up to 10 teaching assistantships (TAs) per year. Students may apply for these after their first term of enrollment. TAs are awarded based on:
 
1) submission of written statement of teaching philosophy;
2) academic standing;
3) prior teaching experience; and 
4) evidence of sustained interest and/or commitment to teaching as a career goal.
 
Each award is $1,000 and the recipient must work approximately 100 hours. The TAs are a paid position, typically paid at mid-point and end of the semester based on time card submission.

Industrial Design Scholarship
Funded by Oregon College of Art and Craft, the scholarship is based on a review of your application materials.  The award is renewable each year based on the following criteria and restrictions:
 
·    You must maintain a cumulative GPA of 3.0 or better.
·    You must be in good academic standing. 
·    Your scholarship is awarded based on full time enrollment. 
·    You must complete 30 credits each year.

OCAC VA Yellow Ribbon Match 
Students eligible  for Veterans Benefits and the Yellow Ribbon Program receive the OCAC Yellow Ribbon Match to meet the obligation of the institution to the Veterans Administration and the students.   By agreement, the scholarship cannot exceed the total tuition and fees paid by both the Veterans Administration and the College.

FEDERAL/STATE GIFT AID
Pell Grant

The Federal Pell Grant is a need-based program for students receiving their first undergraduate degree. Awards are determined by each student’s eligibility based on the results of the FAFSA as well as the cost and length of the program. In addition to eligibility requirements, the award amounts for this grant could change as determined by the Federal Government.

Federal Supplemental Education Opportunity Grant
The Federal Supplemental Education Opportunity Grant (FSEOG) is a need-based grant. Funding in the FSEOG program is very limited and is awarded to students with the highest need.

Oregon Opportunity Grant
The Oregon Opportunity Grant is a need-based grant awarded to Oregon residents who have not earned their first undergraduate degree. In addition to eligibility requirements, the award amounts for this grant could change as determined by state government. Oregon residents are advised to file the FAFSA as soon as the FAFSA is available to ensure meeting the filing deadline set by the state.

COLLEGE WORK-STUDY
Work-Study Employment

Students who have a Federal and/or Campus Work-Study(Student Employment) award are eligible to apply for student work-study positions on the Oregon College of Art and Craft campus. Positions and hours vary by department and office on the campus. Available jobs, descriptions of the positions, and required paperwork for hiring are maintained in the Admissions and Student Services building. Please see the Director of Enrollment Management and Alumni Affairs or the Director of Financial Aid for additional information regarding awarding or eligibility to work.

All students must complete and have on file a W-4 form and an I-9 form before beginning work. Please refer to the 
Student Employment Handbook for additional information.

Federal Work Study
The Federal Work-Study Program is a need-based award that offers students an opportunity to earn wages through campus and community employment. The funds are very limited and awards are based on availability and are not guaranteed.

Campus Work Study 
The Campus Work Study Program  offers students an opportunity to earn wages to offset their educational expenses. The funds are limited and awards are based on availability and are not guaranteed. Funded entirely by Oregon College of Art and Craft, the Campus Work-Study program is similar to the Federal Work Study program; however, the award is not need-based. Priority is given to students who exhibit financial need.

FEDERAL AND OTHER LOANS
Federal Direct Stafford Student Loan Program
Oregon College of Art and Craft participates in the Federal Direct Stafford Loan Programs. Educational loans offered through this program consist of two types: Subsidized and Unsubsidized student loans.

Subsidized Stafford Loan 
This loan is given based on demonstrated financial need that is determined by subtracting the Expected Family Contribution (EFC) from the estimated Cost of Attendance. Students who qualify for the Subsidized Stafford loan will have all interest paid by the Federal government as long as they are enrolled at least half-time (six credits per semester). 

Origination and default fees of 1.069% are deducted from the total amount of the loan at the time of disbursement. Interest rates established for subsidized loans first disbursed after July 1, 2018 through June 30, 2019 are 5.05%.

Unsubsidized Stafford Loan for Undergraduate Students
Unlike the Subsidized Loan, the Unsubsidized Stafford Loan accrues interest while in school and during the grace period. Students with an Unsubsidized Loan are offered the option of paying the interest only while in school or capitalizing the interest (add the interest to the principle) when the loan enters repayment. Origination and default fees of 1.069% are deducted from the total amount of the loan at the time of disbursement. Interest rates established for unsubsidized loans first disbursed after July 1, 2018 through June 30, 2019 are 5.05% for the life of the loan.

Unsubsidized Stafford Loan for Graduate Students
The Unsubsidized Stafford Loan for graduate students  accrues interest while in school and during the grace period. Students with an Unsubsidized Loan are offered the option of paying the interest only while in school or capitalizing the interest (add the interest to the principle) when the loan enters repayment. Origination and default fees of 1.069% are deducted from the total amount of the loan at the time of disbursement. Interest rates established for unsubsidized loans first disbursed after July 1, 2018 through June 30, 2019 are 6.60% for the life of the loan.

Federal PLUS Loan for Parents
The PLUS loan is a loan to parents of dependent students who borrow to help pay for their student’s education. The loan is a credit-based loan and interest begins accruing immediately upon disbursement of funds. The repayment period begins on the date of the last disbursement and the first payment is due within 60 days after the loan is fully disbursed. Parents have the option of deferring repayment of the loan under certain conditions. 

Origination and default fees of 4.276% are deducted from the total amount of the loan at the time of disbursement. Interest rates established for Parent PLUS loans first disbursed after July 1, 2018 through June 30, 2019 are 7.60% for the life of the loan. Please contact the Financial Aid Office with any questions.

Federal PLUS Loan for Graduate Students
The Federal Graduate PLUS  loan is a credit-based loan available to students in graduate programs who are credit worthy.  interest begins accruing immediately upon disbursement of funds and repayment begins on the date of the last disbursement with the first payment due within 60 days after the loan is fully disbursed.  Unlike the Unsubsidized loan, the Graduate PLUS loan does not have a grace period.  

Origination and default fees of 4.276% are deducted from the total amount of the loan at the time of disbursement. Interest rates established for Parent PLUS loans first disbursed after July 1, 2018 through June 30, 2019 are 7.60% for the life of the loan. Please contact the Financial Aid Office with any questions.

Private Education Loans
Private Education loans are credit-based loans offered by private lenders outside of the Federal Direct Loan Programs. Interest rates on private education loans are variable and terms of repayment and how the interest rate is determined vary by lender. Oregon College of Art and Craft does not have a preferred lender list and does not make recommendations concerning private lenders.


OTHER FUNDING SOURCES
Scholarships
OCAC encourages you to apply for local, regional, and national scholarships. A great place to begin an online search is with one or all of the free scholarship search engines, including:
Peterson’s College Search
College Board
FastWeb
Scholarships.com
Scholarships 101
Scholarship Experts
Student Scholarship Search
Free-4U.com
Cappex
Adventures in Education
Scholarship Monkey
Sallie Mae Scholarship Search
Zinch
US Dept of Labor Scholarship Search
FinAid
College Prowler
Scholarship Experts


FINANCIAL AID ELIGIBILITY FOR INTERNATIONAL AND STUDY AWAY PROGRAMS
Students who plan to study abroad or in another school’s program during a semester of their enrollment at Oregon College of Art and Craft are encouraged to make their intentions known to the Enrollment Services Division, including the Financial Aid Office, as soon as possible. Federal Financial Aid is limited by regulation and other sources of financing will usually be needed. In addition, OCAC institutional scholarships and grants are not available to students while they attend and pay tuition at another institution.

THE FINANCIAL AID AWARD
Receiving Financial Aid Grants, scholarships, and loan funds are delivered to Oregon College of Art and Craft in two equal payment periods as the student completes program credits. The Financial Aid Office determines the eligibility of students to receive financial aid. The funds are delivered to the accounting office and applied to each student’s account. Tuition charges and other institutional charges are deducted from the funds received. The office prepares a statement of costs, funding received to offset the costs, and a balance. Students with overpayments are issued a refund check. Students who do not want to accept their financial aid may opt to have the funding returned and pay the tuition and educational costs from their own resources. Any delay in the delivery of financial aid funds does not exempt students from paying the tuition for their programs according to the Oregon College of Art and Craft tuition payment policies and schedules.

Note to Veterans: Due to the unique payment schedule established by the Department of Veteran’s Affairs, veterans receiving Chapter 33/Post 9-11 and/or Yellow Ribbon benefits have funds disbursed in unequal installments. The Financial Aid Office endeavors to make funds available evenly across the award year so that no semester is underfunded or overfunded. Please visit the Financial Aid Office with questions about how funding is awarded.

Changes to a Financial Aid Award
The Financial Aid Office is required by regulation and institutional policy to revise financial aid awards if your eligibility to receive any or all of an award changes. Eligibility can change based on many criteria. Though this is not a comprehensive list, the most common reasons for award eligibility and/or amount changes include:
• verification results that change a student’s EFC (Expected Family Contribution)
• enrollment status, and
• unsatisfactory academic progress.
When changes are necessary, the Financial Aid Office prepares a new award package complete with a summary of the changes that were made. If the College is in session, the revised award package is delivered to your student mailbox on campus. The award package will be mailed to the last address on file with the Registrar if the College is on a scheduled break.
 
Health Insurance Costs in the Cost of Attendance Budget
All students taking six credits or more are required to have health insurance. If you have health insurance charges on your student account and you want to have the charges included in your Cost of Attendance budget, please visit the Financial Aid Office. If you pay for health insurance outside of the College’s offered plan, the Cost of Attendance will be increased on request with proof of premium payment. Increasing your Cost of Attendance budget does not automatically guarantee additional financial aid.

Applications Selected for Verification
The US Department of Education selects applications for verification of specific information provided on the Free Application for Federal Student Aid (FAFSA). Schools are required to verify the information on the FAFSA application prior to disbursing aid. Students who filed the FAFSA application on an estimated tax return are asked to use the IRS Data Retrieval Tool on the FAFSA website to update financial information as soon as the tax information is available from the IRS. If your application is selected for verification, and your information changes, your financial aid can change.

REGISTRATION AND ENROLLMENT
Enrollment Status and the Award
Award packages are prepared considering (among many other criteria) enrollment status that includes:
• the year (level) in college based on the number of completed credits; and
• the number of credits the student is enrolled for during the semester the aid is disbursed.

The level in college is established based on the following completed credits:
00–30 completed/accepted credits = 1st Year
31–60 completed/accepted credits = 2nd Year
61–90 completed/accepted credits = 3rd Year
91–120 completed/accepted credits = 4th Year

The enrollment status is established on the following registered credits per semester:
12–18 credits Full Time
 9–11 credits Three-quarter
 6–8 credits Half Time
 1–5 credits Less than Half Time

Changing registration during the change of registration period will likely change an award and award eligibility.

Satisfactory Academic Progress
Federal regulations require that students make satisfactory academic progress toward completing their degrees to receive Federal financial aid. To meet satisfactory academic progress, students must:
• meet a minimum GPA requirement (qualitative);
• complete a minimum number of credits each semester (quantitative); and
• complete a program within a maximum time (pace).
To remain financial aid eligible, students are required to meet all of the conditions of Satisfactory Academic Progress. Since some financial aid awards are contingent on the successful completion of coursework, both in number of credits and grades, please review the section on award descriptions carefully. Definitions of the standards are described below.

Minimum GPA Requirement
OCAC’s minimum Grade Point Average (GPA) is 2.0 for Undergraduate students and 3.0 for Graduate students.
Students whose GPA (cumulative or semester) falls below the minimum requirement are considered to be on financial aid (and academic) warning. Students have one semester to remove themselves from warning status by earning the minimum semester GPA of 2.0 (UG) or 3.0 (GR). Students who are unable to meet the minimum GPA requirements after being warned are on financial aid suspension. Please be aware that some scholarships and grants require recipients to maintain a significantly higher GPA than the 2.0 minimum.

Minimum Credit Hour Requirement
Students are required to complete all of the credits for which they have received financial aid. Satisfactory Academic 
Progress is calculated on both completed and attempted hours. Students who change their enrollment status during the change of registration period at the beginning of each semester have their financial aid re-calculated based on their updated enrollment. Students who drop classes after the change of registration period are at risk for a Satisfactory Academic Progress Warning, as their financial aid is not recalculated, and they may have received aid for more credits than they completed.  Institutional aid will be recalculated based upon the updated enrollment and as published in the refund policies.   Grades of A, B, C, D and P (Pass) are considered satisfactory completion of a course taken for credit. Grades of F, NP (No Pass), W (Withdraw) and I (Incomplete) will not be considered satisfactory completion of a course for credit but will be considered attempted credits for Satisfactory Academic Progress calculation. Students receiving an I (Incomplete) grade in a course may be granted an exception by the Dean of Academic Affairs, usually for circumstances beyond the control of the student. While incompletes are considered attempted credits in the Satisfactory Academic Progress calculation, the calculation will be amended when the student completes the coursework and a grade is submitted to the Registrar.

Maximum Time Frame
Students are required by federal regulation to complete their programs within 150% of the scheduled and published length of their programs to remain Federal financial aid eligible. The 150% program completion includes credits towards the program that have been accepted in transfer from other schools and applied to the requirements of the degree or certificate program. Please refer to the following chart for the maximum time to complete your program.

Undergraduate Degree and Certificate Programs
Bachelors

Published Length of Program: 4 Years (8 semesters)
Maximum Time to Complete: 6 years (12 semesters)

Certificate
Published Length of Program: 3 years (6 semesters)
Maximum Time to Complete: 4.5 years (9 semesters)

Post-Baccalaureate
Published Length of Program: 1 year (2 semesters)
Maximum Time to Complete: 1.5 years (3 semesters)

Master of Fine Art in Craft
Published Length of Program:  2.5 years (5 semesters)
Maximum Time to Complete:  3.5 years (7 semesters)
 
Master of Fine Art in Craft and Material Studies
Published Length of Program:  3.5 years (7 semesters)
Maximum Time to Complete:  5 years (10 semesters)
 
Master of Fine Art in Industrial Design
Published Length of Program:  2 years (4 semesters)
Maximum Time to Complete:  3 years (6 semesters)

This requirement is the exception to the warning status. If at any time during the review of your Satisfactory Academic Progress it is determined that your enrollment will not allow you to complete your program within the maximum time to complete, you are no longer eligible to receive Federal financial aid.

Financial Aid Probation (Warning)
Students who are considered to have not met one or more of the requirements for Satisfactory Academic Progress are placed on financial aid warning. While on warning, students are eligible to receive financial aid for one semester allowing the student to remediate the reason for the warning. Students who successfully remediate the condition of the Satisfactory Academic Progress Warning are removed from warning status.

Financial Aid Suspension 
Students who are on financial aid warning and were unable to successfully remediate the condition of the warning are placed on financial aid suspension. During this time, students are not eligible to receive financial aid. Providing that the student has not been dismissed from the College as a result of being unable to remediate the condition of the warning period, a student can re-establish eligibility for financial aid by completing one semester of coursework without financial aid and successfully remediating the condition of the Satisfactory Academic Progress. Students also have the option to file an appeal with the Financial Aid Office for reconsideration of the suspension.

Appealing Financial Aid Suspension
Students who are placed on financial aid suspension and denied financial aid have the right to appeal their status. To appeal financial aid suspension, students submit a written petition to the Financial Aid Office. The petition must include:

  • a written statement (preferably typed) explaining the reason and the causes for the suspension;
  • a description of the specific actions the student has taken/will take to remediate the problems;
  • a description of the specific actions the student has taken/will take to prevent future problems of the same nature; and
  • documentation that supports the written statement.

If suspended due to not completing the program within the maximum time frame, students are required to include a plan of completion signed by their academic advisor outlining their course of study to completion. Please note that failure to adhere to the plan of study automatically rescinds eligibility for financial aid by Federal regulation.

Petitions are reviewed by the Enrollment Management Director  and the Director of Financial Aid and students are notified of the decision by letter. Appealing a financial aid suspension does not guarantee that the suspension appeal will be approved. Please remember that all other institutional policies remain in effect (e.g. tuition due dates, registration dates, etc.). 

If the appeal is denied, the student still has the option of successfully completing a semester without financial aid funding, except where the suspension is due to pace and aid cannot be disbursed.

Leaves of Absence, Withdrawal and Financial Aid
Federal financial aid is awarded to students under the assumption that the student will attend school for the entire period for which the assistance is awarded. Students who withdraw may no longer be eligible for the full amount of Federal financial aid they were originally scheduled to receive.

It is never a good idea to receive financial aid and then withdraw from school. Oregon College of Art and Craft faculty and staff are dedicated to helping students resolve education-related issues and assist in meeting personal goals. Should a leave of absence or withdrawal be necessary, it is important to know that students are responsible for tuition and educational costs accrued as well as for returning the unearned portion of the financial aid award. 

Important: The return of Federal financial aid funds to issuing programs is calculated according to Federal regulations and is independent of Oregon College of Art and Craft’s tuition refund policies. Under Federal regulation, students are allowed to keep only the financial aid that has been earned for the time students are actually enrolled and attending classes. Unless students complete 60% of the semester for which federal aid is disbursed, they will be required to return all or part of the financial aid disbursed in the semester. Since financial aid is applied to students’ accounts to offset tuition, fees, and other allowable costs, students may owe a balance to the College that was formerly covered by the financial aid the College was required to return by law.

By Federal regulation and for financial aid purposes, a leave of absence cannot exceed 180 days. Students who intend a longer period of absence are reported to the US Department of Education and lenders as withdrawn from Oregon College of Art and Craft or as having reduced their enrollment to less than half time in accordance with Federal regulations governing return of Federal funds.

Institutional Aid Refund Policies
OCAC scholarships and grants will be returned following the Institutional Refund policy. For example, if the school refunds 50% of tuition, 50% of the scholarship and or grant will be returned to the scholarship fund. After week five, as per the refund schedule, no scholarship funds will be returned. Please see the following examples for sample calculations of how return calculations might affect a student account.

Examples of How a Leave of Absence or Withdrawal Could Affect Financial Aid and Student Accounts
Example #1 of Returning Financial Aid:
Assume that a student begins a semester and completes coursework through week 3 of the semester. The semester in this example consists of 105 days for Federal aid calculations, so the student has completed 21 days (including the weekends).
% of Tuition Returned to Student: 70%
% of Tuition Retained by OCAC: 30%
% of Institutional Aid Earned: 30%
% of Institutional Aid Returned: 70%
% of Federal Aid Earned: 20%
% of Federal Aid Returned: 80%

Example #2 of Returning Financial Aid
Assume that a student begins a semester and withdraws in the middle of week 6. The semester still consists of 105 days in this example, with the student completing 43 days (including weekends). 
% of Tuition Returned to Student: 0%
% of Tuition Retained by OCAC: 100%
% of Institutional Aid Earned: 100%
% of Institutional Aid Returned: 0%
% of Federal Aid Earned: 41%
% of Federal Aid Returned: 59%

Important: In either example, it is possible that school charges that were previously paid by financial aid funds might become a charge on a student’s account that the student will be responsible for paying.