The earliest that a student can apply for the following year is end of November. Students applying for aid for the current year must complete the steps immediately.
2012-2013 Students renew their financial aid by filling out the FAFSA. Students who only want to renew Otis Scholarship and Grants or apply for Otis Work-Study can fill out the Otis Financial Aid Renewal Application.
If you and/or your parent cannot find or remember your Department of Education pin, apply for a duplicate pin by visiting www.pin.ed.gov. A parent pin is required for dependent students.
A renewal Free Application for Federal Student Aid (FAFSA) can be completed by visiting www.fafsa.ed.gov. The federal school code is 001251. You will need this number at the end of your FAFSA. The FAFSA is free from the Department of Education. (Be aware that there are websites that charge for the FAFSA.)
The Department of Education will email a notification about the Student Aid Report (SAR). Read the comments section carefully for any additional documentation you may need to turn in to the Financial Aid Office.
The Financial Aid Office will also email you if you are selected for a process called Verification, or any other documentation is needed. Depending on the documentation needed, your award may be delayed if you do not turn in the necessary documents.
After the student's eligibility has been determined, he/she will receive an email informing him/her to accept or decline aid in self service. Students wanting to take out loans can visit the Otis Loan webpage for instructions.
Parents who are approved for the PLUS loan by the Department of Education can take out funds to cover the Cost of Attendance minus other aid.
Students needing to take out the Private Loans would also need to complete the application process. Further instructions is on www.otis.edu/finaid/loans.
The student accepts or declines aid on self service. The Financial Aid Office cannot process a student's Financial Aid until the student has accepted aid and completed the loan procedures.
Financial Aid funds will be credited to the student's account after school begins. Funds in excess of tuition and fees will be refunded to the student (or the parent, in the case of a PLUS Loan). Students are highly encouraged to check their online account through the Self Service after the 3rd week of school for any missing documents and aid that have not paid.