I have been admitted to Graduate School at ORU but do not have a financial aid package yet. Why am I not packaged?
There are several reasons why you may not be packaged:
*You must be enrolled at least half time in order to be packaged with Financial Aid.
* You must submit an official FAFSA in order to be packaged with Financial Aid
* You may have reached your aggregate loan maximum
* If you declined loan assistance in the fall semester, it will not be re-offered for spring enrollment
If these criteria do not apply to you and you would like to request an aid package you may email firstname.lastname@example.org with your name, ID number, and contact information requesting package.
Yes. Graduate students are packaged for the exact number of credit hours enrolled each semester. Any little change to your enrollment may cause a change in your loans, which could cause you to owe a balance to the University. If you drop courses without replacing them, please notify us immediately.
If you drop a course at the beginning of the semester but intend to attend a later enrolled modular course you will be asked to complete the “Intent to Return” form. This form allows the financial aid office to preserve your awarded aid for the later course. If the form is not received, all financial aid for the semester may be canceled.
ORU participates in Federal financial aid programs. Using your most recent Federal Income Tax forms, complete your Free Application for Federal Student Aid (FAFSA) online at www.fafsa.gov and add ORU’s school code 003985. The federal processor will electronically forward your FAFSA information to ORU within 3 days.
Graduate students are awarded Financial Aid based on enrollment and posted charges. Once a valid FAFSA is received and your enrollment is finalized, the Graduate Financial Aid Specialist will review your file and post any available aid. You will then receive an email award notification at your ORU email address directing you to log into http://vision.oru.edu to accept or decline your awards.
All students who are enrolled at least half-time will be awarded financial aid to cover 100% of tuition, fees, and $70 per enrolled credit hour for books. Depending on the types of courses enrolled, financial aid may also include living/travel expenses (modular and on-campus courses). Other factors such as annual loan limits, aggregate limits, and/or resources such as Vocational Rehab payments have the potential to affect the amount of aid a student may receive.
Financial Aid disbursements for residential courses begin after the drop/add period for each term. Modular disbursements will be made on the first day of the first attended module of each semester, which can vary according to chosen enrollment. Students who enroll in both online and modular courses will receive their financial aid in two separate disbursements at the beginning and midpoint of the semester.
When the amount of financial aid disbursed exceeds the charges on your account you will receive the overage from the Student Accounts office. If you need to purchase books before this time, you may purchase Follett Bucks on Vision and use them in the ORU bookstore.
Graduate students are eligible to receive the federal Direct Unsubsidized Stafford Loan. It has a fixed interest rate of 5.31% and the absolute maximum amount a student can receive for the academic year is $20,500. Interest accrues while you are in school and repayment begins as soon as your enrollment ceases to be at least half-time (whether through graduation or withdrawal).
Additionally, graduate students are eligible to apply for the credit-based Graduate PLUS loan. The interest rate for this loan is 6.31% and payments begin 60 days after the full amount of the loan has disbursed to the school. The amount available for this loan is limited by the Cost of Attendance less other awarded financial aid for the term.
Yes, there are departmental scholarships available for each graduate program. Check with your department or online at the sites listed below. The majority of scholarship programs require full time enrollment of 9 credit hours per semester.
For more information go to the following ORU websites…
Grad Business students go to… http://www.oru.edu/financial_assistance/graduate/graduate_scholarships_business.php
Grad Education students go to… http://www.oru.edu/financial_assistance/graduate/graduate_scholarships_education.php
Grad Theology students go to… http://www.oru.edu/financial_assistance/graduate/graduate_scholarships_theology.php
There are many websites that offer scholarship searches. Avoid any websites that require you to pay a fee or other cost, they are usually scams just looking for your hard earned money! The following is a very reliable and free site to searching for available scholarships… http://edu.fastweb.com
Graduate students have the opportunity to work in work-study positions. The maximum a student can earn through the program is $2500 per academic year. If you are interested you may browse available jobs and the hiring process at www.orugoldenhire.com
Any change to your enrollment has the potential to affect your financial aid and could cause you to owe a balance. Please make sure to send written notification to the Financial Aid Office if you make any adjustments to your enrollment. Adjustments to enrollment include but are not limited to: changing the number of hours enrolled, changing from residential to online courses, changing housing status, or change in graduation date if completing your degree in a semester other than spring. Changes should be emailed to ORUFinaid@oru.edu with the subject line “Change in hours enrolled.” Changes in your enrollment may consequently delay your refund with the Student Account office. As such, the Financial Aid Office is not responsible for any refund delays, bills overdue or other issues stemming from a change in status.
All students who are enrolled at least half-time and meet federal eligibility requirements will be awarded financial aid to cover 100% of tuition, fees, and books plus a $1,232 budgetary allowance for travel and lodging in Tulsa for the duration of the modular course. Note: The additional budgetary allowances are limited to modular courses only. Modular students who enroll in online courses will not receive the travel and lodging budgetary allowances for the portion of enrollment that is online.
Other factors such as annual loan limits, aggregate limits, and/or resources such as Vocational Rehab payments have the potential to affect the amount of aid a student may receive.
Financial Aid is not disbursed until you start the on-campus phase of your module course. Therefore, you should make the necessary arrangements to pay for your books and travel cost out-of-pocket prior to traveling to your first on-campus phase of your module course.
When financial aid funds are disbursed into your account and the disbursed financial aid is greater than your direct cost (tuition, fees, etc.), the Students Accounts office will make arrangements to issue you a refund for the excess aid received. Refunds are issued every Tuesday and Thursday of the week by the Student Accounts office. The student is responsible for making arrangements on how they want to receive the refund (by check or direct deposit). You can also make pre-arrangements with the Student Accounts office to hold your refund check so that you can pick up the check directly when you are on-campus.
If you need to purchase books before your scheduled refund, you can contact the Student Account office at 1-918-495-6370 and ask about purchasing book vouchers. The Student Accounts representative will determine if you are eligible for receiving a credit for book vouchers. Additionally you may click the “purchase follett bucks” link within the Registration section of Vision. If you are eligible, you can then purchase your books online prior to receiving your scheduled refund. Your scheduled refund will be reduced by the amount of the book vouchers.