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Paying for College : Scholarship and Financial Aid Information.

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Presentation on theme: "Paying for College : Scholarship and Financial Aid Information."— Presentation transcript:

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2 Paying for College : Scholarship and Financial Aid Information

3 SCHOLARSHIPS Merit-based free money Apply by submitting complete admission application by Feb. 1 Application online at go2.ou.edugo2.ou.edu

4 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

5 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

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

7 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

8 TALENT-BASED SCHOLARSHIPS Athletic, Band, Spirit groups, Fine Arts, etc. Requires auditions or portfolios Audition dates and specific information on department’s website

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

10 FINANCIAL AID Grants Work Programs Loans

11 FAFSA Free Application for Federal Student Aid

12 FAFSA ON THE WEB 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

13 THE PIN NUMBER Apply for a PIN NOW! NOTE: OU’s school code is

14 GRANTS Free money that doesn’t have to be paid back Based on financial need Ex. Pell Grant, OLAP (Oklahoma’s Promise), Sooner Promise

15 OHLAP (OKLAHOMA’S PROMISE) Pays for tuition – More than $35,000 for four years of college Must have qualified in 8 th -10 th Grade with family income of less than $50,000 Current family income must be less than $100,000

16 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

17 WORK PROGRAMS Work Study Room and Board Program Jobs on campus

18 WORK STUDY Need-based, determined by your FAFSA Guaranteed a job on campus Work hours per week Receive normal paycheck and use money as you wish Apply/interview for jobs through jobs.ou.edu

19 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

20 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

21 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

22 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

23 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)

24 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 address in March/April Submit additional verification items Corrections may have to be made (Most schools do these electronically for you)

25 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 account and read all s carefully Make copies of all documentation before sending them to financial aid

26 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.

27 QUESTIONS?


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