Financial Aid

Who’s eligible?

Most students are eligible for financial aid. Our financial aid office will work with you to try and organize and calculate your financial aid options. You must complete the FAFSA to correctly estimate your financial aid eligibility. Please complete the financial aid checklist to see what financial aid you may be eligible for. All students must be attending at least half time to be eligible for aid, and cannot be on any kind of probation.

How to get aid?

In order to get aid you need to complete the steps listed below or print out the checklist listed below.

1) Pin Website- You will need a pin to complete your FAFSA as well as your MPN. Please make sure you have registered for a pin. If you don’t remember what your pin is. Use the tab on the left that says “Request duplicate pin”, type in your information, then click the arrow and select “Display now”.

To go to the PIN site, click on the Pin site button or go to www.pin.ed.gov

2) FAFSA Website- The FAFSA (Free Application for Federal Student Aid), is use to calculate your financial aid per year. Make sure you have an updated FAFSA. A new FAFSA will need to be complete either every summer or fall (depending on your start date).You will need your pin to log-in.

School Code: 031163-00

To go to the FAFSA website, click on the FAFSA button or go to www.FAFSA.ed.gov

3) Direct Loan website- Please use this website to complete the MPN (Master Promissory Note) for student loans. You will need to use your pin to log-in.

To go to the Direct Loans website, click on the Direct Loans button or go to www.studentloans.gov

4) VFAO Website- The VFAO (Virtual Financial Aid Office) is OCM’s financial aid site. All financial aid is processed online on our virtual site. Make sure you are registered each semester on the VFAO site for financial aid. For new students, register and create a log-in, then complete an interview. OCM recommends that you complete it for your first financial aid year (or three semesters). OCM recommends this to avoid delays in receiving your aid.

To go to the VFAO website, click on the VFAO button or go to https://ocm.vfao.com

If you would like to download a copy of the checklist please click on the buttom below.

What aid is available at OCM?

OCM accepts various types of financial aid through the federal government, private companies, and scholarships (this includes WIA and Ohio Works programs).

Loans

OCM services its loans through Federal Student Direct Loans. Almost all students are eligible for student loans. They represent a key source of financial aid and many students find that it is necessary to use this source for their financial needs. Student loans are a great way to get funding to pay for school; however you have to keep in mind some facts about student loans such as:

They are loans, which means you are going to have to pay them back.

The average interest rate on student loans is currently 6.8%

Repayment on student loans goes into effect 6 months after graduation

Taking out more than you need is NOT beneficial to you, because you will have to pay that amount back plus interest. OCM recommends to all students to create a budget and figure out how much you need. This amount is required when you complete the VFAO interview for aid.

There are loan fees which are deducted by the loan company.

Know how much you are borrowing and keep track. The loan company will send you statement as well as OCM.

Subsidized loans do not incur interest while you are attending school and Unsubsidized Loans do.

All other questions about loans (including Subsidized, Unsubsidized, and Parent Plus) are located on the Direct Loans website or click the Direct Loans button above.

You can keep track of your loans on the National Student Loan Data System for Students- www.nslds.ed.gov/

Other Loan Types:

Alternative Loans- OCM does accept alternative loans from private lenders. If you are interested in alternative loans, please fill out the forms for the loans and then notify OCM that you are planning on have an alternative loan.

Parent Plus Loans- Dependent students sometimes have the burden of trying to find additional funds to pay off their tuition besides the amount they are personally eligible to receive. Parent Plus loans are unsubsidized loans which have to be signed by a parent. If in the event your parent is denied credit, OCM will work with you to try and finance your education. Please see below for forms that must be completed to be eligible for the parent plus loan and have you parents fill out the Parent Plus loan MPN on the www.studentloans.gov website. They must log-in with THEIR PIN NUMBER. After you have completed these, then contact the financial aid office for more information.

Grants

Grants are funds that received by the student which do not have to be paid back. OCM is permitted to allocate grants through our VFAO website. After you have completed the interview you will be able to view all grants and the amounts in which you would be eligible to receive. This amount is calculated through your FAFSA EFC (estimated family contribution) number. For questions about how EFC’s are calculated please view the following Department of Education formula.

Tuition and Billing Questions

What am I being billed for?

Please look at your schedule to see how much you are being billed for your tuition, or on your statement.

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Any or all other fees are listed on the enrollment agreement.

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If you have any questions about billing please contact the Office of Student Financial Services.

How will I be billed?

Each student, when they schedule, will receive a copy of their schedule with the amount due for the semester. This is your initial invoice. You will then be billed by the school and receive a statement of account via eBilling (e-mail), this is your second bill. You will then receive statements of account throughout the semester to notify you of your current balance or status.

eBilling notifications

All students will receive electronic billing notifications in the form of e-mails for tuition and fees including installment bills. No paper bills will be mailed. Students must keep their e-mail addresses current so that they will not miss important notifications. This also means that undeliverable messages returned because of either a full inbox or use of a spam filter will still be considered delivered. Regardless of whether or not your eBill is successfully received, you are still responsible for timely payment of your tuition bill. Students can however request for a paper copy to be sent by mail simply by contacting the Office of Student Financial Services.

How is my financial aid applied?

After you have completed all requirements to receive aid, your funds will arrive at OCM, and be applied to your student account within 3 days of its arrival. If you have a balance, that amount will be awarded to you within two weeks of its arrival. OCM’s office will contact you when your funds are available to be picked up, otherwise it will be mailed to you.

How to pay?

OCM offers a variety of ways to pay your bill. You can use financial aid, VA assistance, or you can make payments. Tuition payments are an interest free way to pay. Please see our financial aid agreement for your options. If you would like to pay your bill you can use the following methods:

Pay in person- Pay at the Main Office during our business hours.

personal check

cashier's check

money order

credit or debit card (we accept visa, mastercard, and discover)

Pay by phone- Please our campus office during our business hours to make payments by phone.

Pay by mail- Please mail all payments to: Ohio College of Massotherapy

Attn: Student Financial Services

225 Heritage Woods Dr.

Akron, OH 44321

Pay online (coming soon!)

Failure to pay- Failure to make your payments on time will result in a late fee. Please see enrollment agreement for more information or contact your financial aid office.

What happens if I drop a class or want to withdraw from the program?

Please contact your admissions representative if you are considering dropping a class or from a program. After you have discussed it with your admissions representative then they will put you in contact with the Office of Student Financial Services to see if it has any financial repercussions.