Early birds likely to get most financial aid

By Jamie Hall, News Writing Student

Oftentimes, students — even those who apply annually for financial aid — are unaware of specific deadlines and dates by which they must fill out the FAFSA — the Free Application for Federal Student Aid.

One of the first rules of financial aid is to apply early. That would be Jan. 1 or shortly thereafter in the early spring semester, said Harold Case, financial aid dean. That would have students applying for the following fall, spring, and summer academic year.

For students who haven’t applied for financial for the ’07-’08 school year, its not too late, particularly for federal aid, Case said.

The system operates on an 18-month cycle, during which students are able to fill out the FAFSA at any time, Case said.

Currently, it’s the middle of an 18-month cycle, Case said. January of 2007 was the beginning of one 18-month cycle which will end on June 30.

There is a six-month period during which the two sets of FAFSA cycles will overlap each other, Case said.

In January ’08, two sets of active FAFSA forms will be available — the ’07-’08 and the ’08-’09 academic years.

Although students are encouraged to fill out the FAFSA as early as possible, students can apply in spring ’08 and receive funds for the previously attended fall, as well as the current spring and upcoming summer semesters as long as he or she made academic progress during those semesters, Case said.

He said students who attend full time cannot receive Pell grants for summer because all of the funds will be used toward full time enrollment during fall and spring.

Linette McMurtrey, a specialist in the financial aid office, said that while there is no annually imposed deadline on Pell grants, students are encouraged to fill out the FAFSA by April 15 in order to receive supplemental grants from the state of Oklahoma.

Case explained the supplemental grants.

The April 15 deadline applies to OTAG — Oklahoma Tuition Aid Grant.

The state gives OCCC an allocation of funding and once it’s used, it’s gone, despite eligibility, he said.

For example, Case said, if a student applied for FAFSA in June and met all the requirements of eligibility, that student probably would not receive OTAG because money would already have been dispersed among earlier applicants.

“In the case of supplemental grants — such as OTAG — that’s why I say apply early,” Case said.

Not Pell though, he said. Pell grants are per student, whereas OTAG and other supplemental grants are by funding available. In other words, if the student qualifies for a Pell grant, the student would still receive the funds, even if the application was made late in the school year.

If students are eligible for a Pell grant, they would receive it under two conditions: they are enrolled for the semester for which they applied or have already attended with academic progress, and as long as they applied during the 18-month cycle, Case said.

OCCC student Kristi Johnson applies for financial aid annually and agrees deadlines are important when applying.

“I paid in full for an entire year of college because I didn’t realize I could apply for the previous two semesters and receive funds for school already behind me,” Johnson said.

For more information, the Guide to Federal Student Aid can be found online. The information can also be retrieved by telephone: 1-800-4-FED-AID.