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Scholarships and Financial Aid
grants, including the Oklahoma Tuition Aid Grant (OTAG), is limited and earliest applicants receive priority for funds. Students can apply for assistance by submitting the FAFSA electronically at fafsa.ed.gov (http://fafsa.ed.gov). FAFSA information is used to determine demonstrated need for federal, state and institutional programs such as Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Oklahoma Tuition Aid Grants (OTAG), Federal Direct Loans, Federal Work-Study (FWS) and some tuition scholarships. There are also programs available for students and families who do not demonstrate financial need. The Federal Direct Parent (PLUS) Loan Program, the Federal Direct Unsubsidized Loan Program and the Federal Direct Graduate PLUS Loan allow students and parents of dependent undergraduates, to borrow funds to meet educational expenses. To be considered for financial aid, a student must: 1. File the FAFSA and demonstrate financial need, except for some loan and scholarship programs. 2. Be a U.S. citizen or eligible non-citizen. 3. Be enrolled as a degree-seeking candidate, including a program of study abroad or be pursuing a graduate certificate approved for financial aid eligibility by the U.S. Department of Education. 4. Meet minimum satisfactory academic progress standards. 5. Have a high school diploma or GED. 6. Not be in default on any federal loan, not have borrowed in excess of the allowable limits and not owe a refund to any federal grant program (including the Oklahoma Tuition Aid Grant program). 7. Be prompt in responding to any requests for additional information made by the Office of Scholarships and Financial Aid. Students and parents are encouraged to contact the Office of Scholarships and Financial Aid for information regarding financial assistance programs or to make an appointment with a financial aid counselor to discuss specific eligibility requirements. The office has information about programs and services online at financialaid.okstate.edu (http://financialaid.okstate.edu). Grants Undergraduate students who have not completed their first bachelor's degree are eligible to be considered for the Federal Pell Grant and the Federal Supplemental Education Opportunity Grant. Undergraduate students who are Oklahoma residents are considered for the Oklahoma Tuition Aid Grant (OTAG). Federal Pell Grant eligibility is determined by the U.S. Department of Education by using a congressionally-approved formula and information from the FAFSA. Federal Supplemental Education Opportunity Grants (SEOG) are awarded to students who demonstrate financial need as reflected in the FAFSA. Funding in this program is limited and is usually awarded to applicants who demonstrate the most financial need. Undergraduate, post-baccalaureate and graduate students who are or who will be taking coursework necessary to become elementary or secondary teachers may be eligible for the federal Teacher Education Assistance for College and Higher Education (TEACH) Grant. The FAFSA is the application for TEACH eligibility. A recipient must sign the Agreement to Serve saying he or she will teach full-time in a designated
teacher shortage area for four complete years (within eight years of completing the academic program) at an elementary or secondary school serving children from low-income families. If the student fails to carry out the service obligation, the TEACH Grant must be repaid as a Direct Unsubsidized Loan with interest accrued from the date the grant was first disbursed. The Oklahoma Tuition Aid Grant (OTAG) is awarded to eligible undergraduate Oklahoma residents who may apply by completing the FAFSA. Grant amounts are determined by the applicant's enrollment status, demonstrated need and by the availability of funds. Federal Work-Study The Federal Work-Study (FWS) program is designed to help students meet their educational expenses through part-time employment. The Office of Scholarships and Financial Aid determines award amounts on the basis of financial need from FAFSA information. While all Federal Work-Study student employees are paid at least the current federal minimum wage, the actual rate of pay depends on their qualifications and the types of jobs they hold. Eligible students may be employed by any participating office or department at OSU or at an approved off-campus, non-profit agency. Loans OSU has several loan programs for students who need financial assistance. These funds are available to students who meet the eligibility requirements of the various programs and are making satisfactory progress in their college work. Long-term loan programs consist of the Federal Direct Subsidized and Unsubsidized Loans, Federal Direct Graduate PLUS Loan, and the Federal Direct Parent (PLUS) Loan. The FAFSA is required to be considered for any of these loans. Interest rates for the Federal Direct Loan programs are set annually by the federal government. The U.S. Department of Education pays the interest on the Federal Direct Subsidized Loan while the student is enrolled at least half-time and during the loan grace period (six months after ceasing half-time enrollment for the Direct Subsidized Loan). Interest accrues, but can be deferred, for the Federal Direct Unsubsidized, Graduate PLUS and Parent PLUS loans. The OSU-sponsored Short-Term Loan Program provides up to a maximum of $300 per semester (less a $10 service charge) for the purpose of meeting educationally-related expenses that are not charged to a student's University account. Students are billed for the loan through the Office of the Bursar on the billing statement of the month in which they apply. Applications must be made in person at the Office of Scholarships and Financial Aid. Enrollment Requirements To be considered for loan funds, undergraduates must be enrolled in at least six hours in the fall, spring or summer semester. Undergraduates who plan to enroll in fewer than six hours for the semester may still be eligible for limited grant funding. Undergraduate tuition scholarship recipients must be enrolled in at least 12 OSU hours to receive the award for the fall or spring semester; tuition scholarships are not available for the summer. Scholarship recipients should review their award information to determine whether additional hours of enrollment are required to retain the scholarship for the following year.
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