Q:How do I apply for student Financial Aid?
A: To apply for financial aid at ORU you must submit the Free Application for
Federal Student Aid (FAFSA). New students must complete the ORU
Admissions Application Process prior to be packaged with financial aid.
Q:I applied for financial aid last year. Do I have to do it again this
year?
A: Yes. Once you have filed a FAFSA, you will be able to complete a
Renewal FAFSA the next year. However, it will not be so complicated the
second time around. The Renewal FAFSA is sent to your home address
and about 75% of the information is pre-printed. You need to update the
information and provide new income and asset information. See the following
page regarding renewing your FAFSA. If you use your PIN, you will not
have to print and sign the Certification page.
Q: What happens after I submit the FAFSA?
A: The Financial Aid Office will receive your FAFSA results electronically for
further processing. Students meeting the requirements will be packaged with
grants, scholarships, work study, and loans. You will then be able to access
your Award Letter online to either accept or decline your individual awards.
Q: What is verification?
A: Student applicants are randomly selected by the Department of Education for
a process called Verification. If selected for Verification, the information on
the FAFSA submitted must be verified. This entails completing a separate
verification worksheet, which will be sent to the student by ORU. Students
must submit a copy of their own federal tax return, W-2’s, and if dependent,
their parents’ most recently filed federal income tax form and W-2’s from the
last calendar year. The forms must be signed, dated and mailed to the
Financial Aid Office. Students should write their social security number in
the upper corner to ensure proper placement. Please remember, financial
aid will NOT be finalized until this process is complete.
Q: What is Satisfactory Academic Progress?
A: Federal regulations require that students receiving financial aid maintain
Satisfactory Academic Progress to be eligible to receive financial aid each
year. This requirement not only measures cumulative GPA, but also
completion of at least 75% of attempted hours at the end of each Academic
Year. For more information, please see our Satisfactory Academic Progress
information.
Q: How much money will I need for books?
A: On the average, books and supplies cost between $500-750 per
semester. If a student has excess federal financial aid and their financial aid
file is complete, they can receive funds to pay for their books. It is advisable
to bring sufficient money to pay for books, supplies, and other expenses
during the first few weeks of each semester due to possible federal delays.
Q: When can I expect my loan refund?
A: Federal Loans are sent to the school in two equal disbursements. If the loan
covers the entire academic year, each disbursement will be sent after the
drop/add period and you may apply for that semester’s refund after all other aid has been received.
Q: What happens if I do not maintain my GPA to keep my academic
scholarship? Can it be reinstated?
A: If you do not maintain the appropriate cumulative GPA required for your
academic scholarship, it will be cancelled. The scholarship can be reinstated
once your GPA reaches the requirement. You will need to request the
Financial Aid Office review your records to reinstate the scholarship.
Q:Why am I considered a dependent of my parents even though I
support myself?
A: To be independent for financial aid purposes, you must meet one of
the following criteria:
- You were born before January 1, 1984;
- You are married;
- At the beginning of the 2007-2008 school year, you will be working ona master’s or doctorate program (beyond the bachelor’s degree);
- You have children who receive more than half of their support from you;
- You have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you and will continue to receive more than half their support from you through June 30, 2008;
- Both of your parents are deceased, or you are or were a ward/dependent of the court until age 18;
- You are currently serving on active duty in the U.S. Armed Forces for purposes other than training; or
- You are a veteran of the U.S. Armed Forces (“veteran” includes students who attended a U.S service academic and who were released under a condition other thandishonorable.
Q:What is the mailing address of the Financial Aid Office?
A: ORU Financial Aid Office ORU Financial Aid Office
PO Box 700540 7777 S. Lewis Ave.
Tulsa, OK 74170 Tulsa, OK 74171
Q:What are the business hours for the Financial Aid Office?
A: Monday - Friday, 8:00 am - 5:00 pm, CST
Q:My question is not addressed here. Whom can I contact to get an
answer?
A: You can e-mail any questions to the Financial Aid office at finaid@oru.edu.
