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COTC Financial Aid


Types of Financial Aid for 2007-2008

General Requirements: Complete and mail the Free Application for Federal Student Aid (FAFSA) and submit official copies of high school and academics transcripts to Office of Admissions. Students must be degree seeking to receive assistance. Students with previous bachelor degrees are ineligible for grants.

Programs Description How to Apply Amounts* Deadlines
Federal Pell Grant *Federal government funded grant
*Repayment not required
*Partial awards are available for less than full-time enrollment
Complete Free  Application for Federal Student Aid (FAFSA)  $400 to $4,310 per year Processed in dated order through June 30, 2008
Federal Academic Competitiveness Grant (ACG) *Federal government funded grant
*Repayment not required
*US Citizen
*Must be Pell Eligible
*Enrolled full-time in their first or second academic year of study
*Must be enrolled in a 2 or 4 year degree granting program (certificate programs are not eligible)
*Graduate high school after January 1, 2005.
*Completed a rigorous high school program
*For the second year, must have a 3.0 GPA
Complete Free  Application for Federal Student Aid (FAFSA) $750 for first year student

$1,300 for second year student
Processed in dated order through June 30, 2008
Federal Supplemental
Educational Opportunity
Grant (SEOG)
*Federal government funded grant
*Repayment not required
*Award based on high financial need, meeting application deadline and availability of funds
Complete Free  Application for Federal Student Aid (FAFSA) $100 to $400 per year March 1, 2007
Ohio College Opportunity Grant (OCOG) *State of Ohio funded grant 
*Seeking first Associate or Bachelor degree
*Available for tuition only
*Ohio residency (1 year) required
*Selective Service Registration required
*Partial awards are available for less than full-time awards
Complete Free  Application for Federal Student Aid (FAFSA) $300 to $2,496 per year Processed in dated order through Oct. 1, 2008.
Ohio Instructional Grant (OIG) *State of Ohio funded grant
*Must be a full-time student
*Seeking first Associate or Bachelor degree
*Available for tuition only
*Ohio residency (1 year) required
*Selective Service Registration required
Complete Free  Application for Federal Student Aid (FAFSA) $174 to $2,190 per year Processed in dated order through Oct. 1, 2008.

Federal Work Study
(FWS)

*On-campus employment
*Work with college faculty and staff
*Employees receive a paycheck bi-weekly
*Must be enrolled at least 6 (six) credit hours
Complete Free  Application for Federal Student Aid (FAFSA)

*Submit  employment application to COTC
$1,000 to $4,000 per year; award based on availability of funds March 1, 2007
Federal Subsidized
Stafford Loan
*Federal loan, based on financial need
*Variable interest, 8.25% ceiling, up to 3% fees withheld
*At least half-time enrollment required
*Repayment begins 6 months after graduation or falling below half-time, 10-25 years repayment
*Interest subsidized while in school,
deferment or grace period
Complete Free  Application for Federal Student Aid (FAFSA)

*Complete Loan Authorization, Entrance Counseling, and Promissory Note
 
Maximum per grade level:
Freshman $3,500; Sophomore $4,500
Dependent - aggregate total $23,000
Independent - aggregate total $46,000
Processed in dated order through June 8, 2008 or last date of attendance, whichever comes first.
Federal Unsubsidized
Stafford Loan
*Federal loan, not based on financial need
*Variable interest, 8.25% ceiling, up to 3% fees withheld
*At least half-time enrollment required
*Repayment begins 6 months after graduation or falling below half-time, 10-25 years repayment
*Borrower is responsible for accrued interest while in school, deferment or grace period (payment of interest may be deferred)
Complete Free  Application for Federal Student Aid (FAFSA)

*Complete Loan Authorization, Entrance Counseling, and Promissory Note
 
Maximum per grade level*:
Freshman - Dependent $3,500
Independent $7,500
Sophomore - Dependent $4,500 Independent $8,500
Dependent-aggregate total $23,000
Independent- aggregate total $46,000
*Less subsidized loan eligibility
Processed in dated order through June 8, 2008 or last date of attendance, whichever comes first.
Federal Parental Loan for
Undergraduate Students
(PLUS)
*Federal supplemental loan for parents of dependent students, not based on financial need
*Variable interest, 9% ceiling, up to 3% fees withheld
*At least half-time enrollment required
*Repayment begins 60 days from date of full disbursement, 10-25 years repayment 
*Repayment may be deferred if certain conditions are met
Complete Free  Application for Federal Student Aid (FAFSA)

*Complete a
PLUS promissory note online
.

*Submit prior to or while student is enrolled
Cost of education minus other financial aid Processed in dated order through June 8, 2008 or last date of attendance, whichever comes first.

* Award amounts based on funds available.

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