Determining Need

The primary responsibility for paying for an undergraduate education rests with the student and the student’s parents.  

Eligibility for financial aid is determined using the following formula:

The Cost of Attendance (COA) is the estimated total cost of attending OCC for one academic year. It includes direct charges, such as tuition, housing, dining, and fees, as well as indirect expenses like books and supplies, personal and living costs, and travel.

The Contribution from the Family is calculated using federal guidelines, based on information submitted through the FAFSA and any additional documentation provided to OCC. This contribution includes both a parent and a student component. It is derived from an evaluation of income and assets, which may include cash, checking and savings accounts, investments, real estate other than a primary residence, untaxed income, and business or farm equity.

Based off this information, OCC will issue a financial aid offer that outlines the types and amounts of grants, work-study, loans, and scholarships awarded to the student.  

Important Notes:

• The total amount of financial aid a student receives, including outside scholarships and other external resources, may not exceed the Cost of Attendance.
• Students may not qualify for need-based aid if their calculated family contribution exceeds the Cost of Attendance. In these cases, other financing options remain available, including Unsubsidized Federal Direct Loans, Direct Parent PLUS Loans, and private/alternative loans.