FINANCIAL AID Frequently Asked Questions
Do I have to submit a FAFSA Application?
Yes, a FAFSA is required for all students that are attending or will attend College of the Ozarks. Exceptions include if you are an international student or if you in you are graduating at the end of an academic year.
Who is eligible for student aid?
The Department of Education uses the information provided on your FAFSA to determine the student’s eligibility for aid from the federal Student Financial Assistance (SFA) programs. Some of the requirements to receive aid are that the student must:
- Be a citizen or eligible non-citizen of the U.S with a valid Social Security Number,
- Have a high school diploma or GED certificate,
- Enroll in an eligible program as a regular student seeking a degree or certificate,
- Register (or have registered) for Selective Service, if the student is male between the ages of 18-25.
When should you fill out the Free Application for Federal Student Aid (FAFSA) need analysis form?
If you are applying for admission to the College, see Admissions information. If you are a current student, the FAFSA deadline is January 15.
Do you have to apply for student aid every year?
Yes. Your financial situation must be reassessed every year. Failure to complete the FAFSA will impact your enrollment at College of the Ozarks.
What determines the financial aid award?
The amount of financial aid award depends on whether the student is full-time or part-time and whether they attend school for a full academic year or less. The awards are also based on the Department of Education’s equation for determining financial need.
What will the Federal Pell grant pay for at C of O?
The Pell Grant is disbursed each semester and only pays toward tuition.
Who can receive a Federal Pell Grant?
This grant is available to undergraduate students only. Grants do not have to be repaid.
Who can receive a Federal Supplemental Educational Opportunity Grant (FSEOG)?
This grant is available to undergraduate students only, beginning with those who have the highest financial need (typically SAI of 0 or below). It is disbursed each semester and is only paid toward Tuition Assurance for current students. SEOG funds are awarded in amounts between $0 - $2,000 for an academic year.
Are tax returns required when students complete the FAFSA?
If you are selected for verification, we may reach out and need copies of the appropriate years tax return.
How did I get selected for verification?
The selection is done by the FAFSA processor, very rarely by the institution. A review is required by the Department of Education if selected to check the accuracy of the data.
Who reviews my file for verification?
A financial aid administrator will compare information on the documents provided. All requested information is kept confidential.
What if a mistake is found during verification?
The financial aid office will make corrections for you, if needed. You will receive a new SAI and FAFSA Summary , which allows you to see the changes and results.
What loans are available for students?
College of the Ozarks discourages student borrowing, and therefore, does not participate in the federal, state or private loan programs.
Who is an eligible non-citizen?
An eligible non-citizen meets one of the conditions below:
- U.S. permanent resident and you have an Alien Registration Receipt Card (I551),
- Conditional permanent resident (I-221C),
- Other than eligible non-citizen with an Arrival-Departure Record (I-94) from the U.S. Immigration and Naturalization Service showing any one of the following designations: Refugee, Asylum Granted, Indefinite Parole, Humanitarian Parole, or Cuban-Haitian Entrant. If the student is in the U.S. on only an F1 or F2 student visa, or only a J1 or J2 exchange visitor visa, or a G series visa (pertaining to international organization), you must fill in oval c of the FAFSA. If the student is neither a citizen nor eligible non-citizen, the student is not eligible for federal student aid.
When am I considered an independent student?
Under the Federal definition, an independent student is one who:
- Is 24 years old.
- Is married.
- Has legal dependents other than a spouse.
- Is a veteran of the U.S. Armed forces or currently serving on active duty.
- Is an orphan or ward of the court or in foster care since turning age 13.
- Is determined by your high school that you were an unaccompanied youth who is homeless.
- Living in an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development after July 1 and determined that you were an unaccompanied youth who was homeless.
- Determined by a court in your state of legal residence, emancipated minor or in legal guardianship.
- Is a graduate or a professional student.
What if I don’t have a social security number (SSN) or do not want to report it on the FAFSA?
You must provide your SSN on the FAFSA. You are unable to apply for aid without a valid SSN.
My parents are separated or divorced. Which parent/contributor fills out the FAFSA?
The parent you lived with most during the last 12 months. If you didn’t live with either parent, or if you lived with each parent for an equal number of days, use the parent who provided most of the support to you in the most recent calendar year. If your parent has remarried as of today, answer the questions about that parent and the person whom the parent remarried. (The new step parent’s information must be included, even if they were not married in the previous year.)
The FAFSA asks about last year’s income. My father (or mother) is now unemployed and their income is significantly less. What do I do?
Complete the FAFSA and when you receive the FAFSA results, you need to contact the Financial Aid Office to explain the situation. Professional judgment may be used to adjust data elements on the FAFSA, if warranted.