Financial Aid
The Financial Aid Process
Completion of the financial aid process is REQUIRED of all students (see the Financial Aid section of Student Success Handbook). Please note that failure to complete the financial aid process may affect your enrollment at Summit Academy OIC.
No Cost to You
Although tuition at Summit Academy OIC is $7,410 for 20 weeks, you will have NO OUT-OF-POCKET expenses to cover tuition and there are no textbooks to purchase. Our financial aid office is committed to administering gift aid to ensure that your Summit Academy OIC tuition is fully covered. As an institution, we do not participate in Federal and State Student Loan programs, so there are NO LOANS TO PAY BACK.
Gift aid comes in the form of grants and scholarships that do not need to be repaid. Funding comes from the federal government through the Department of Education, and the Minnesota State Government through the Office of Higher Education.
Types of Gift Aid
The Federal Pell Grant is awarded to undergraduate degree-seeking students.
The Federal Supplemental Education Opportunity Grant (SEOG) is awarded to eligible undergraduate degree-seeking students.
The Minnesota State Grant is administered to eligible undergraduate degree-seeking students who qualify as residents of Minnesota under the state Office of Higher Education’s criteria.
The Summit Academy OIC scholarship is awarded to all eligible degree-seeking students, and is meant to bridge the gap between what is covered by federal and state grants and tuition.
The College Work study positions are available to degree-seeking students who meet the eligibility criteria, and is administered by Summit Academy OIC’s financial aid office.
In order for the Financial Aid Office to determine each student’s financial need, it is necessary to establish the costs associated with attending Summit Academy OIC. All budget items shown represent the cost of attendance for the 20-week program length for students in all post-secondary programs and attending with 15 credits per term (full-time). Students attending less than full-time are eligible for financial aid; however, budget, family contributions and maximum awards may be adjusted proportionately for less than full-time attendance. (Full-time is 12+ credits per term as defined by the US Department of Education).
**Please note that Summit Academy students pay none of these costs out-of-pocket; all tuition is covered by grants or gift aid (as outlined above). Summit does not offer room and board, nor does it charge for books. There may be other expenses associated with attending Summit, however, such as transportation to and from the school, WiFi, etc., that will be your own personal expense.
Cost of Attendance 2023-2024 Independent Student
| Tuition | $7,410.00 |
| Room & Board | $8,190.00 |
| Transportation | $1,705.00 |
| Personal Expenses | $6,545.00 |
| Total | $23,850.00 |
Cost of Attendance 2023-2024 Dependent Student
| Tuition | $7,410.00 |
| Transportation | $1,705.00 |
| Personal Expenses | $3,655.00 |
| Total | $12,770.00 |
*Summit Academy tuition is $247.00 per Quarter credit
**Non-tuition budget items are established with guidance from the US Department of Education. Please note that Summit Academy OIC does not provide on-campus housing nor transportation services.
***Summit Academy OIC students are not charged additional fees for learning materials such as textbooks or technological access.
In general, you must meet the basic eligibility criteria for any of the vocational programs:
- You must be a U.S. Citizen or;
- An eligible noncitizen
- Have a valid Social Security number (with the exception of students from the Republic of the Marshal Islands, Federated States of Micronesia, or the Republic of Palau)
- If you are male, be registered with Selective Service (you must register between the ages of 18 and 25)
- Be enrolled in one of our certificate programs
Please contact the Federal Student Aid Information Center at 1-800-433-3243.
If you have questions regarding financial aid that cannot be answered by the Federal Student Aid Information Center, see the FAQs below. Otherwise, you may contact your Financial Aid Coordinator:
Last names A-L:
Tracey Wilson
twilson@saoic.org
(612) 278-5241
Last names M-Z:
Jeremy Aurzada
jaurzada@saoic.org
(612) 278-6717
Steps To Apply
Applying for financial aid is a required part of the enrollment process. Once you pass your entrance exam, you should complete the Free Application for Federal Student Aid (FAFSA) as soon as you can, even if you do not believe you will be eligible. Our school code is 015950.
Go to Federal Student Aid and complete your FAFSA. The application is FREE, so if you find yourself on a website requesting payment, you are on the wrong website. If you need help with the application, including login issues, you may contact the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243. The FSAIC has qualified professionals to assist you with the FAFSA application process.
Once your FAFSA is received by our Financial Aid office, you will receive an email from your Financial Aid Coordinator with an online calendar invite for your Financial Aid appointment. You’ll be able to select the date and time you’d like to meet with them to go over your FAFSA results. The financial aid appointment is a required part of the enrollment process.
If you are 25 and younger, you will need financial information from your parent or guardian.
Complete the FAFSA online – school code 015950
To complete the FAFSA, you will need your 2020 IRS Income Tax information. If you didn’t file that year, simply indicate that on your application and answer the relevant questions throughout the application.
Your FAFSA will take at least three business days to process and be sent from the Department of Education to Summit Academy. Once the Financial Aid Office receives your FAFSA, you will be emailed an appointment invite link from your Financial Aid Coordinator to schedule your Financial Aid appointment.
Attend your appointment. During your appointment, we will review your FAFSA and advise you on needed corrections (if any) and complete any additional needed financial aid documents in order for your eligibility to be determined. You will also complete any remaining admissions documents.
Schedule a FAFSA appointment
Remember, it takes time for us to receive your FAFSA once you submit it to the Department of Education. Please watch for your appointment invite at the email address you provided on your admissions application. It takes at least 3 business days after you complete the FAFSA for our office to receive it.