Once you have registered for classes, you are responsible for any tuition, fees, and books charged to your account. Your financial aid cannot pay for any portion of the tuition, fees, and/or books unless you attend class or officially withdraw from classes. If you do not attend class or plan to withdraw for the semester, you must contact Student Services. Failure to do so may result in you receiving failing grade(s).
Federal Pell Grant
|Federal Pell Grant||Fall/Spring Semesters||Pell Adjustment from Full-Time Award|
|Academic Full-time||12 or more hours||100%|
|Academic Three-quarter-time||9-11 hours||75%|
|Academic Half-time||6-8 hours||50 %|
|Academic Less than Half-time||1-5 hours||25%|
|Federal Pell Grant||Summer Semester||Pell Adjustment from Full-Time Award|
|Academic Full-time||6 or more hours||50%|
|Academic Half-time||3-5 hours||25%|
|Academic Less than Half-time||1-2 hours||25%|
*If your semester Pell award is less than $600, you may receive less than the 25% amount for enrollment in 6 credit hours or less for the semester.
You can estimate your Federal Pell Grant for the term by following these steps:
- In your MyOTC account under the AccessOTC tab, find the amount shown for your Federal Pell Grant in financial aid.
- Multiply our total award for the semester from MyOTC x % on above chart.
- The Federal Pell Grant amount shown in MyOTC for term is $2775
- You are enrolled and attending 6 hours. $2775 x 50% = $1338 (your pell award)
Federal Direct Student Loan – Required Hours
For fall or spring semester, at least 6 hours is required for student loan. For summer, attending at least 3 hours is required for a student loan. For summer, attending at least 3 hours is required for a student loan. Not meeting this criteria could result in a loss of your Federal Direct Student Loan.
First Time Students Receiving Direct Loans
In accordance with Federal Student Aid regulations, if you are a first time student at OTC, your student loan disbursement will be delayed for a minimum of 30 days after the semester begins. Therefore, your student loan disbursement will not be included with the initial or first group of disbursements for the semester. A first time borrower is a student who has never received a disbursement of a Federal Student Loan or a student who previously borrowed a Federal Student Loan and successfully repaid the balance to zero.
2nd Eight-Week Block
If you enroll in eight-week block courses, you may not receive a portion of your award until you are attending those classes. Any questions regarding eight-week block courses may be directed to the Financial Aid office.
Repeat Coursework Policy
REPEAT COURSEWORK. There are limitations on the number of times Federal Student Aid will pay for repeat coursework. Those limitations are: 1) A student may repeat a previously passed course once. 2) A student may repeat a failed course until it is passed. Therefore, the amount of aid received from Federal Student Aid may be impacted by repeat courses for which you have enrolled.