FINANCIAL AID
The process of applying for financial aid can be very different depending on what type of degree you are pursuing.

The FAFSA (Filing Deadline March 10, 2009 for Indiana Residents)
To be considered for state financial aid, your 2010-11 FAFSA (Free Application for Federal Student Aid) must be received by the Federal Processing Center on or before March 10, 210. You can file the FAFSA online in "real-time" at http://fafsa.ed.gov or a paper FAFSA via mail. If you need to file a paper FAFSA, you will have to request a paper version at 1-800-433-3234. It's up to you to make sure the Federal Processing Center RECEIVES your FAFSA on or before March 10, 2010. Paper filers need to factor in mailing time since all that matters is that the paper or online FAFSA is RECEIVED on or before March 10th by the Federal Processing Center. File as soon as possible after January 1. Do not delay. Plan ahead. Be an on-time filer.

When filing online, students can request a *PIN number (personal identification number) from the Department to sign their application electronically, or students can print out a signature page, sign it and mail it to the Department. Instructions are available on the Departments's website.

Oakland City University FAFSA Title IV Code: 001824

Once your FAFSA is processed the school will receive your processed information in an electronic report referred to as an ISIR. Your ISIR could be selected by the Dept. Of Ed. for a process called verification. If it is, the school will request documentation from you to verify your report before you can have financial aid.

If your ISIR is not selected for verification, you will receive an “Award Letter” from the Financial Aid Office showing the type and amounts of financial aid you are eligible to receive.

*Note: Your PIN number serves as your personal identifier. KEEP IT PRIVATE - KEEP IT SAFE. Do not share your PIN number with another individual, do not give your PIN to the Financial Aid Office, or to any other Administrative Office. Guard against identity theft.

Identity theft is a widespread and growing national problem for everyone. This crime involves the theft of your personal information such as your name, address, telephone number and Social Security number. Identity thieves steal your personal information and ruin your credit. These thieves often run up thousands of dollars in credit card debt, just to name one problem, and the bills are sent to you for payment. Your credit rating can be ruined. Even though it's not your fault, you're the one who has to clean up the damage, which can take months or even years to correct.

Direct Loan Entrance Counseling
Complete the Federal Direct Loan Entrance Counseling . This session takes only 20-30 minutes to complete. All students borrowing Direct Loans for the first time at Oakland City University are required to complete this counseling session. Students who do not have access to the internet should contact the Financial Aid Office.

The Master Promissory Note (eMPN)
Complete the Federal Direct Loan Master Promissory Note or the PLUS Direct Loan Master Promissory Note.  You will need your PIN (issued from the U.S. Department of Education) to begin the process.  The eMPN explains the terms and conditions of your loan and is your legally binding agreement to repay your loan to the Department.  Please note – student Direct Loans or parent PLUS loans will not be disbursed until you have completed and submitted or returned your MPN.  Need help?  Contact the Financial Aid Office at 812/749-1436.

Direct Loan Application
Complete the OCU Direct Loan Application . This application must be completed in full. Incomplete forms will be returned to the student, and could mean missing the semester Direct Loan deadlines. Please return your completed Request Form to the following address:

Oakland City University
Attn: Direct Loan Processing
138 North Lucretia Street
Oakland City, IN 47660-1038
or
FAX: 812-749-1438

Please note the following: You will receive a refund only if your account balance is paid in full before your loan funds come in, or if you have monies left over after your account is paid off by your loan. If you are due a refund you should receive a refund check in within ten working days after your loan funds are credited to your account*. Loan refunds are processed by the University Busines Office. If you are eligible for a refund, the check may be picked up at the Business Office on Thursdays between the hours of 9am and 3pm.
*Bedford campus student loan borrowers should contact Sherry Deirth, Business Office Manager, to find out when student loan refund checks will be available.

Direct Loan Exit Counseling
Complete the Federal Direct Loan Exit Counseling prior to graduating, leaving school or dropping to below half-time enrollment. This session will take approximately 30-40 minutes to complete. You will be required to enter the PIN number you used when you completed your FAFSA. This counseling session has been created to make sure that you understand your rights and responsibilities as a Direct Loan Borrower.

Exit Counseling is required by the Department of Education. Please note that your transcripts will be held until you have successfully completed this session.

FFELP Loan Exit Counseling
If you borrowed from banks, credit unions or other lenders, you borrowed from the FFELP (Federal Family Education Loan Program) Program. If you are graduating or leaving college, you are required to complete exit counseling.  Print and complete the FFELP Exit Interview Form. This form must be completed in full and submitted to the Financial Aid Office.

Please note that transcripts will be held until we have received your FFELP Exit Interview Form.