How To Apply for Financial Aid

We know that the financial aid process can seem intimidating, but our friendly financial aid staff can help you at any step of the process. Just give us a call at 800-321-0298 in you have any questions. We are here to help!.

FAFSA Application: The first step in the financial aid application process is the submission of the Free Application for Federal Student Aid (also known as the FAFSA). This process can be completed quickly and easily on the United States Department of Education's website at www.fafsa.ed.gov. The information that you provide on this form/application will allow us to determine your eligibility for Federal Pell Grants and federal student loans. Be sure to list the Ocean Corporation as your school choice (school code #026002) when completing the form, as this will send your eligibility results directly to the Financial Aid Office. Deadlines: It is best if you complete your FAFSA before you begin classes. We cannot process any financial aid for you until we have received your data from the FAFSA processor. If you have not applied before school, please come and talk to us in the financial aid office as soon as you start school. The absolute deadline to file the FAFSA is a few days before you finish school, because we must receive your FAFSA data while you are still in school in order to process your financial aid.

The Verification Process: About one-third of all FAFSA applications are selected for a review process called "verification". If your aplication is selected, you will be asked to provide copies of your income tax returns and other income and asset information, and for similar information from your parent(s) if you are a dependent student. We will let you know if you are selected for verification and give you a list of the necessary items. Deadlines: We cannot process any federal financial aid for you until all documents are submitted and reviewed. Sometimes this process results in the need for the school to make changes to your FAFSA data, and this can add a few days to the processing time. Therefore, it is important to submit any requested documents as soon as possible. There are also federal verification deadlines that give us only a short time after you complete your program or otherwise cease attending to complete the process.

The Financial Aid Awarding Process: Upon completion of the application and verification processes , your financial aid advisor at the Ocean Corporation will prepare a package of financial aid for you based upon your eligibility and financial need as determined by your FAFSA application.  Your advisor will also discuss the timing of aid payments, explain billing and payment procedures, and can advise you about alternative financing sources.

Student Loan Entrance/Exit Interviews: If you are planning to use a Federal Stafford Student Loan and you have not borrowed a student loan before, you will need to complete an "Entrance Interview" before the Direct Loan processor can disburse your money - but don't worry - this "interview" is actually an on-line process to teach you about your rights and responsibilities under the loan programs. You'll complete a similar process (called an "Exit Interview") when you graduate/leave school. Click here to start this on-line process.

The Financial Aid Disbursement (Payment) Process: If all your FAFSA application has been processed early and all other paperwork is completed, your first payments of federal financial aid should arrive during the firt two weeks of school. If you've never had a student loan before, your first student loan payment will arrive after you have completed thirty days of classes. All federal student aid is paid in two disbursements (two halves), with the second payment arriving after you have reached the mid-point of your training.

All federal grants and loans are paid directly to the school on your behalf, and are used to satisfy any outstanding balance on your account. If there are funds remaining after your balance is paid in full, the Ocean Corporation will promptly issue an overage check to the student (or the Parent borrower if funds are from a PLUS loan). Parent PLUS borrowers who wish to have any overage amount given directly to the student should contact the Bursar to make arrangements.

Payment of Veterans Benefits: Veterans Educational benefits are generally paid directly to the student each month. If the applications are filed close to the start of school, it may take a month or two for the payments to begin, but back-payments will be made for any delayed monthly payments. Students who are relying on VA benefit payments to pay for costs at the Ocean Corporation will be set up on a monthly payment plan with the school to coincide with the VA payments.

Students seeking more detailed information about the financial aid process should contact the

Ocean Corporation Financial Aid Office at 800-321-0298.