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Paying for College : Scholarship and Financial Aid Information

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

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Paying for College : Scholarship and Financial Aid Information

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  1. Paying for College :Scholarship and Financial Aid Information

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

  3. 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

  4. 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

  5. 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

  6. 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

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

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

  9. FINANCIAL AID • Grants • Work Programs • Loans

  10. FAFSAFree Application for Federal Student Aid www.fafsa.ed.gov

  11. 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

  12. THE PIN NUMBER • Apply for a PIN NOW! • www.pin.ed.gov NOTE: OU’s school code is 003184.

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

  14. 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

  15. 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

  16. WORK PROGRAMS • Work Study • Room and Board Program • Jobs on campus

  17. 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

  18. 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

  19. 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

  20. 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

  21. 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

  22. 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)

  23. FINANCIAL AID TIMELINE • File a FAFSA between January 1-March 1 • Receive a Student Aid Report • College receives an electronic report March 1 • Collegesends 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)

  24. 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

  25. 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.

  26. QUESTIONS?

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