State & Federal Aid

It starts with the FAFSA

If you are seeking financial aid to attend The University of Olivet, you will need to complete the Free Application for Federal Student Aid (FAFSA). The University of Olivet’s FAFSA Code is 002308. By completing this application and listing The University of Olivet as your top choice, you can apply for federal, state and need-based The University of Olivet financial aid.

State & Federal Grants

Michigan Tuition Grant
The amount varies up to a maximum $3,000 annually. Available to Michigan residents who graduated from a Michigan high school and is dependent upon financial need and state funding. In order to be considered, you must list The University of Olivet as your first college choice on your FAFSA by March 1.

Michigan Achievement Scholarship
The Michigan Achievement Scholarship (MAS) provides eligible students attending a non-profit, independent college an additional $4,000 per year. Students must be first-time, full-time students beginning in the fall and have an Expected Family Contribution of $25,000 or less.

Federal Pell Grant 
Amount varies. The Federal Pell Grant Program provides need-based grants to students, which do not require repayment. One-half of your Pell Grant will be credited to your account each semester. Maximum for the 2024-25 academic year is $7,000.

Federal Supplemental Educational Opportunity Grant
Amount varies up to a maximum $4,000.

Student Work Study
Amount varies up to $1,000 per year.

Federal Loans

Federal Stafford Loan

Freshman Year – $5,500 total. No more than $3,500 of this may be subsidized.
Sophomore Year – $6,500 subsidized. No more than $4,500 may be subsidized.
Junior and Senior Year – $7,500. No more than $5,500 may be subsidized.

Federal Direct Parent PLUS Loans

The Federal Direct Parent Plus loan is not need-based and is available to parents of dependent students. For Direct PLUS Loans first disbursed on or after July 1, 2023, and before July 1, 2024, the interest rate is 8.05%. This is a fixed interest rate for the life of the loan. To complete a Master Promissory Note (MPN) and application, please visit the Federal Direct Parent Plus Loan Web site.

If you are borrowing a Federal Direct Loan at The University of Olivet for the first time, you must complete entrance counseling and a Master Promissory Note online. To complete these federal requirements, please visit the Federal Stafford Direct Lending Program.

The University of Olivet offers plans that provide families a way to pay additional balances in installments. You may register for a payment plan by emailing Student Services or calling 269-749-7645.

FAFSA Process

Remember, The University of Olivet’s FAFSA Code is 002308. FAFSA is year specific, so you will want to complete the application for the year you plan to attend college.

The FAFSA takes approximately four to six weeks to process before we receive notification of your awards. We will then send you your Financial Aid Award Letter. This letter will notify you of any grant and scholarship money that you are eligible to receive from The University of Olivet. The award letter will also notify you of your Federal Direct Loan eligibility. Once you have reviewed and accepted your financial aid award, you may apply for this loan online.