Paying for College :Scholarship and Financial Aid Information

SCHOLARSHIPS• Merit-based free money

• Apply by submitting complete admission application by Feb. 1

• Application online at go2.ou.edu

SCHOLARSHIPS• Tuition Waivers:– Designated money to apply toward

tuition–May not be used for fees, books, R&B

• Cash Awards:–Money which can be used in any area–May be paid directly to the student or

to the University in the student’s name

– Can stack

ACADEMIC SCHOLARSHIPS

• Based on SAT or ACT Scores, GPA, and Class Rank

• Automatic – will be awarded shortly after admission

• Begin at 28 ACT/3.5 GPA = $1,500• Can be up to $34,000 + laptop

allowance• Boren Award : apply early with 26/3.6

LEADERSHIP AND COMMMUNITY SERVICE SCHOLARSHIPS

• Based on short answer essays from the admission application

• President’s Leadership Class - $2,250• President’s Community Scholars - $1000• Very competitive, get to know your

recruiter• Can update essays until Feb. 1deadline

DEPARTMENTAL SCHOLARSHIPS

• Based on combination of short answer essays and GPA/ACT scores

• Amount and availability vary by department

• More scholarships for upperclassmen

• Additional info on department’s websites

TALENT-BASED SCHOLARSHIPS

• Athletic, Band, Spirit groups, Fine Arts, etc.

• Requires auditions or portfolios• Audition dates and specific

information on department’s website

OTHER RESOURES

• Fastweb.com• OU Alumni Club Scholarship• Local/community scholarships• Tribal Grants• Hispanic Scholarship Fund (HSF)

FINANCIAL AID

•Grants

•Work Programs

• Loans

FAFSA

Free Application for Federal Student Aid

www.fafsa.ed.gov

FAFSA ON THE WEBwww.fafsa.ed.gov

• Fastest way to apply for financial aid – save up to 4 weeks of processing time

• Application process now paperless with PIN

• Web-based FAFSA applications signed with PIN numbers are almost never rejected

THE PIN NUMBER• Apply for a PIN NOW!

• www.pin.ed.gov

NOTE: OU’s school code is 003184.

GRANTS

• Free money that doesn’t have to be paid back

• Based on financial need • Ex. Pell Grant, OLAP (Oklahoma’s

Promise), Sooner Promise

OHLAP (OKLAHOMA’S PROMISE)

• Pays for tuition – More than $35,000 for four years of college

• Must have qualified in 8th -10th Grade with family income of less than $50,000

• Current family income must be less than $100,000

SOONER PROMISE

• OU-only OHLAP “matching” program• Set amount to assist with fees and

books• Comprised of Pell Grant, OTAG,

scholarships, etc.• No additional funding for Sooner

Promise

WORK PROGRAMS

•Work Study

•Room and Board Program

• Jobs on campus

WORK STUDY

• Need-based, determined by your FAFSA• Guaranteed a job on campus• Work 10-20 hours per week• Receive normal paycheck and use

money as you wish• Apply/interview for jobs through

jobs.ou.edu

ROOM AND BOARD PROGRAM

• Apply on OU Housing website• Work 18+ hours per week for OU

housing or food service• Pays for full housing and food costs• Very selective

JOBS ON CAMPUS

• Find and apply via jobs.ou.edu• Hours and pay-rates vary• Any student can qualify• Convenient and work around OU

calendar

LOANS• Money for college that you do have to

pay back• Up to $22,000 per year at OU• Begin repayment after 6 month grace-

period after finishing or leaving college

FEDERAL LOANS• Subsidized

-Need based-Government pays interest while in school

• Unsubsidized-NOT need based-Most students can qualify-Accrues interest while you are in school

OTHER LOANS• PLUS (Parent Loan for Undergrad Student

– Unsubsidized– Will check parents credit

• Institutional Loans– Awarded by OU– Paper application (apply beginning in

May/June)

FINANCIAL AID TIMELINE

• File a FAFSA between January 1-March 1 • Receive a Student Aid Report• College receives an electronic report March 1• College sends you financial aid information via

your college email address in March/April• Submit additional verification items• Corrections may have to be made

(Most schools do these electronically for you)

TIPS FOR SUCCESS• Start the process early!

• If you are not sure how to fill out the application or paperwork call and ask!

• Check your University email account and read all emails carefully

• Make copies of all documentation before sending them to financial aid

WHY?• College in an investment that increases in

value – earn over $1,000,000 more than those with only HS degrees throughout your lifetime

• Knowledge and a college degree can never be taken away from you!

• Compared to other Oklahoma colleges and universities, OU graduates earn the highest starting salaries in the state - $44,000 per year on average.

QUESTIONS?