Financial Aid Instructions

Financial Aid Overview Video

Want to see an overview? Watch the video!

Want more in-depth information about each step? Scroll down and click on each step to see detailed instructions for completion.

 Step 1: Accept Your Offer

Review your financial aid offer with your parent/guardian

 

Discuss your offer with your Financial Aid Advisor

 

Accept your offer on paper or online

To accept on paper:

  • Put a check by the awards you Accept/Decline on your Financial Aid Offer letter
  • Sign your Financial Aid Offer letter
  • Email a copy of the signed letter to admissions@olivet.edu

To accept online:

  • Log on to my.olivet.edu, select Self-Service
  • Select Financial Aid
  • Follow highlighted checklist items
  • Review and accept financial aid offer

 Step 2: Move Your Aid

Finalize Stafford Loans (Student) *
  • Go to studentaid.gov
  • Click blue Login button
  • Enter your student FSA ID and password
  • Read and Accept Terms

1.Complete the Stafford Loan Entrance Counseling

  1. Hover mouse over Complete Aid Process at top of screen
  2. Click Complete Entrance Counseling
  3. Click blue START button
  4. Read the information and click Continue
  5. Complete all steps of the entrance counseling
  6. Click Submit Counseling
  7. Print your confirmation page

2.Complete the Stafford Master Promissory Note

  1. Hover mouse over Complete Aid Process at top of screen
  2. Click Complete Master Promissory Note
  3. Scroll down and click blue START button next to I’m an Undergraduate Student
  4. Complete Steps 1-5
  5. Print your confirmation page

Complete Verification Paperwork *
  • Log on to my.olivet.edu, select Self-Service
  • Select Financial Aid
  • Complete requested Verification items
Complete Selective service at sss.gov

 

Submit Final Official High School Transcripts (Freshmen)

 

Submit Final Official College Transcripts (Transfers)

 

 Step 3: COVER YOUR COST

You have several options to choose from for covering your remaining balance. Please complete the following steps for each option you select. 

Share Account Information with Parents/Guardians (Proxy)
  • Log on to my.olivet.edu, select Self-Service
  • Select Student Finance
  • Helpful Links (right side of screen)
  • Select Person Proxy Information

View your bill online

Remember: that textbooks, course fees, car registration, music fees, etc. are not included on your financial aid offer letter. These additional fees will be added directly to your student account.

  • Log on to my.olivet.edu, select Self-Service
  • Select Student Finance
  • Select Account Activity

Review Olivet Textbook Rental Program
  • Students are automatically enrolled
    • Cost $25 per credit hour
    • Covers all registered classes
    • Books bundled for easy pick up
  • Visit olivet.edu/bookstore for more information or opt-out details (deadlines apply)

Review Olivet 8-month payment plan (first payment due August 1)​​​​​​​
  • Make Your first payment by August 1
  • Log on to my.olivet.edu, select Self-Service
  • Select Student Finance
  • Select Make A Payment
Apply for Parent PLUS Loan (Parent) *
  • Go to https://studentaid.gov/
  • Click blue Login button
  • Enter your parent FSA ID and password
  • Read and Accept Terms

Step 1: Complete the PLUS Loan Application

  1. Hover mouse over Apply for Aid at top of screen
  2. Click Apply for a PLUS Loan
  3. Click blue Learn More button next to I am a Parent of a Student
  4. Read Before You Continue message
  5. Click blue START button next to I am a Parent of an Undergraduate Student
  6. Complete Steps 1-5
  7. Credit Decision will display on the screen
  8. Once Approved, complete Step 2

Step 2: Complete the Parent PLUS Master Promissory Note

  1. Hover mouse over Complete Aid Process at top of screen
  2. Click Complete a Master Promissory Note
  3. Scroll down and click blue START button next to I’m a Parent of an Undergraduate Student
  4. Complete Steps 1-5
  5. Print confirmation page

* Confirmation Information will be sent to Olivet for both steps as they are completed

Apply for Private Student Loans *​​​​​​
  • Go to Credible.com/Olivet
  • Click "Get My Loan" based on who you are - student or co-signer
  • Under "I'm new to Credible" - click "Get started"
  • Select who you are - student or co-signer
  • Complete the information on each screen
    • Degree: Bachelor's degree
    • Graduation year: 2026 (freshmen)
    • Loan period start date: August 2022
    • Loan period end date: May 2023
  • Once you've completed all the information, you will receive an email from Credible with additional instructions. 

* Once your application is approved, the information will be submitted to Olivet for certification.

Send 529 College Savings Plan Funds *
  • Contact your college savings Plan Coordinator to notify them that Olivet Nazarene University is your college choice and to learn about your disbursement options.
    • 529 payment mailing address: Olivet Nazarene University, One University Ave., Bourbonnais, IL, Attn. Student Accounts Office - 529 Plan Coordinator.
    • Make sure your ONU student ID number is listed on the memo of the check.
    • Once you receive your disbursement confirmation, contact our Student Finance Office at (815) 939-5245 to notify us that a disbursement has been secured for payment
    • College IL Prepaid Tuition Plan Members may contact their Plan Coordinator at (877) 877-3724 and selection Option 2.

Send Your Private Scholarships to ONU *
  • Submit your scholarship congratulatory letter to your financial aid advisor
  • Inform your scholarship organization that you will be attending Olivet
  • Checks should be made payable to Olivet Nazarene University
    • Mailing address for scholarships is:
      Olivet Nazarene University – Office of Admissions
      One University Avenue
      Bourbonnais, IL 60914
      Attention: New Student Financial Aid
Apply for On-Campus Jobs *
  • Log on to my.olivet.edu, select gold Menu tab (top left)
  • Select Student Support link
  • Click on Student Employment
  • Under Libraries choose How do I find a job?
  • Create Handshake account
  • Apply for jobs
  • Email studentemployment@olivet.edu for results

*This option may not apply to every family. Only complete these steps if you are planning to use this option to help cover your remaining direct costs, books, etc