Applying for Financial Aid
Financial Aid Award Year 2012-2013


Step 1:
Apply for FAFSA at www.fafsa.ed.gov. On on this same webpage you can apply for a PIN number which you use as an electronic signature to sign your application. If you sign with a PIN, the Department of Education takes 2-3 business days to process your application. If you are 24 or younger with no dependents your parents need to sign with a PIN number too. If you print it out and mail it in it could take 2-3 weeks to process. Once the information is available to Oglala Lakota College and everything is complete you will be added to the approved list and paid out at the eighth week of classes once your attendance is verified.
Step 2:
Verification, if you are selected you need to submit the 2012-2013 Verification Worksheet either for Independent or Dependent status. Copies of tax returns will no longer be accepted, students and/or parents need to use the IRS Data Retrieval Tool that is part of the FAFSA on the web. It takes two weeks for IRS income information to be available for the IRS Data Retrieval Tool for electronic IRS Tax return filers and up to eight weeks for paper IRS tax return filers. (Remember to watch which address you use for your transcript request, you need to use your physical address and PO Box on one line).
v/Tax Information, must be provided if you or your parents worked in the previous tax year (2011). Under the department of education you are a dependent person if you are 24 or under with no children, you fall under your parents' tax information. You are Independent at the age of 18 if you have children, and/or a Veteran and you filed your own tax return. If you are an orphan or a ward of the court you must provide documentation. If you choose not to use the Data Retrieval tool you can visit the IRS website, www.irs.gov, or call 1-800-908-9946.
v/Food Stamps or SNAP benefits need to be verified. Call your social service caseworker and ask for verification of SNAP benefits for the year 2011.
v/Child Support also needs to be verified; either the person paying or receiving the payment can contact their caseworker and get a payment history.

Step 3:(NEW requirement from Department of Education)
Lifetime Eligibility Used, the department of education will monitor the amount of PELL that a student used and this information will be available beginning mid-July. Please log into the following website, www.nslds.ed.gov, to see how much you used so far using your PIN number. You then need to meet with your counselor or faculty advisor if you are close to graduation to set up a plan of study to complete your degree in the allocated time frame. If you run out of PELL, you will become a self-funding student and will have to pay for courses on your own.

Please call Cindy Iron Cloud for further information regarding your financial aid record at 455-6038. If the Financial Aid Office cannot see your application you may need to add Oglala Lakota College school code 014659, or you may need to "submit" your application online. Be sure that you have electronically signed your application. Be sure your parents electronically sign the application. Satisfactory Academic Progress (SAP) is monitored each semester. Freshman students must maintain a cumulative GPA of 1.50 up to 30 credit hours (attempted). Thereafter, the student must maintain a cumulative GPA of 2.00. Students also have to successfully complete 67% of their classes overall.

REMEMBER THIS IS FOR INFORMATIONAL PURPOSES AND THE FINANCIAL AID REQUIREMENTS ARE MET ON A CASE BE CASE BASIS.