Financial Aid - General Questions

Applying for financial aid can be very confusing and intimidating. Here are some frequently asked questions we hear from students. Specific questions not addressed below can be addressed with the Financial Services staff at your campus.

Contact the Financial Aid Office:

Residential Campus in Ottawa, Kansas: finaid@ottawa.edu

Arizona, Indiana, Greater Kansas City and Wisconsin locations: oufinaid@ottawa.edu

What applications do students need and where do they get them?

There are three applications needed to apply for financial aid:

• The Free Application for Federal Student Aid (FAFSA)
• An Ottawa University Institutional Application, and
• A Stafford Loan Master Promissory Note (MPN)

Do students have to reapply for financial aid every year?

Yes, students must apply for financial aid every year. If their financial circumstances change, students may get more or less aid. Renewal of the financial aid package also depends on a student making satisfactory academic progress toward a certificate or degree, such as achieving a minimum GPA.

Should students report outside scholarships to the Department of Financial Aid?

Yes. If a student receives any kind of financial assistance, it must be reported to the Department of Financial Aid. The university will review his or her financial aid package to determine if eligibility for federal funds has changed.

Do students have to pay back financial aid?

Whether aid is repaid depends on the type of funding received. If a student chooses to participate in a federal loan program, then, yes, the loan must be repaid. Funds received through the Federal PELL Grant program are free and do not need to be repaid.

Can a student get a loan only?

The Federal Stafford Loan is a type of financial aid. Students must complete the federal grant application (FAFSA) before eligibility for a loan can be determined.

What if a student and/or his or her family make too much money and is not eligible for financial aid? Are there other sources of assistance?

There are many types of assistance available. However, income is only one of many factors involved in determining aid eligibility. Students should not assume they are not eligible until they have applied. Most students are at least eligible to participate in the unsubsidized loan program.

Can a student still get financial aid, even if he or she doesn't have good credit?

Yes. Having bad credit does not prevent students from participating in the federal financial aid programs (except the Federal PLUS Program).

What happens if a student changes enrollment status? Will the aid eligibility be affected?

It could be affected. Students should consult their Financial Aid Coordinator before making any changes to their enrollment status.

What is verification?

The federal government randomly selects students for this process or a student may get selected because of conflicting or unusual information provided on the FAFSA. Verification is the process whereby the school is required to review the information provided on the FAFSA for accuracy. If selected for verification, the student (and parents, if applicable) will be required to submit a signed copy of the appropriate year tax return.

Why does Ottawa University need my tax return?

Much of the information required for verification can only be found on the tax return.

What is the award letter?

The award letter is mailed to students after we have determined eligibility for aid. It will indicate the type and amount of aid students are eligible for and the approximate disbursement dates for these funds.