Definitions of Status for Financial Aid Awards
Definitions of Action Description for Financial Aid Awards
The following terms are listed to help you better understand your Financial Aid status. Understanding the terms listed below will assist you in checking your financial aid award at any time. By logging into your Access OTC account you can click on Financial Aid Status by Term to find out the current status of your Financial Aid award.
Please Note: A general description of each status is found below. For a more complete definition by award (i.e. Pell Grant, A+, Student Loans) please select the appropriate award from the award links below.
Accepted- financial aid award has been or is scheduled to be paid to you or your OTC student account. Note: The amount shown MAY NOT be the amount you receive. You will receive an amount according to your enrollment status.
Pending- financial aid award is pending payment to you or your account. For most awards this indicates class attendance has not been verified for the semester. Once attendance has been verified, an Accepted status will appear.
Estimated- financial aid award is not final since expenses to be paid by the award have not been finalized.
Denied- indicates no eligibility for the award shown. Ineligibility may be caused by factors such as poor academics, failure to complete coursework, or other previous financial aid history.
Rejected- indicates you have notified the college that you do not want the award shown.
SAP Ineligible- indicates you have not met Satisfactory Academic Progress Standards to receive Federal Student Aid at OTC. Students must meet certain academic requirements in order to continue receiving financial aid. Students who are SAP Ineligible may have an appeal option available. If you attended OTC within the past year and received Federal Student Aid, you will have an email in your OTC email regarding your SAP status following your last semester of attendance at OTC. If you attended longer than one year ago, you may send an inquiry to firstname.lastname@example.org requesting a review of your eligibility for an appeal. Use the Subject: Appeal Review Request with your email.
Status of Student Loans:
P - Pending- Loans are awarded, the loan is pending. For most awards this indicates class attendance has not been verified for the semester. Once attendance has been verified, an Accepted status will appear.
M - Master Promissory Note (MPN) Not Received- OTC has not received confirmation of completion of your Master Promissory Note (MPN).
N - First Time Loan Student - financial aid award is pending payment to your account. You should refer to your Right to Cancel Notice received in your OTC student email which outlines disbursement information.
G - Loan is In Process- the loan has originated and information has been sent to the Department of Education. The student is in 6 hours and has completed Entrance Counseling.
A - Accepted- financial aid award has been or is scheduled to be paid to you or your OTC student account. Note: The amount shown MAY NOT be the amount you receive. You will receive an amount according to your enrollment status.
You are urged to contact the Financial Aid Office at 417.447.6900 or email@example.com for additional information.