Financial Aid - The College

Your education is an important investment made by both you and your family. Financial aid helps make your Ottawa education a reality by rewarding academic preparation for college, honoring certain affiliations that have been vital to the University, recognizing unique abilities in a number of extra-curricular and co-curricular areas and addressing the financial need of the student and family.

Institutional financial aid at Ottawa University is designed to reward academic preparation for college, honor certain affiliations that have been vital to the University, recognize unique abilities in a number of extra-curricular and co-curricular areas and address the financial need of the student and family. Institutional financial aid is awarded in a fair and consistent manner, based on the University's awarding policy.

Ottawa University participates in a variety of financial aid programs, including generous scholarship programs, federal grants and loans to assist students in obtaining the necessary funds to go to attend college.

Generally speaking, there are four primary types of aid available.

• Grants, including the Federal PELL Grant program awarded on an annual basis.
• Loans are available to students through both federal and private-lending programs.
• Institutional scholarships awarded by individual colleges and universities. 
• Additional Sources of Aid such as veteran's benefits, employer reimbursement and local scholarship programs.

Applying For Financial Aid

Completing the Ottawa University application for admission and submitting necessary official transcripts and standardized test scores are requirements to qualify for institutional financial aid. Upon admission to the University, students are automatically considered for OU scholarships.

Students should also complete the Federal Application for Financial Student Aid (FAFSA) to determine eligibility for federal and state funding. When completing the FAFSA, please be sure to include Ottawa University's school code - 001937 - so that we may receive your information and process your aid promptly. Submitting the FAFSA by March 15 will ensure consideration for all forms of financial aid at Ottawa University. You may contact the OU Department of Financial Aid for assistance in completing the FAFSA.

The OU Department of Financial Aid will send your financial aid award letter when all materials, including the FAFSA, are received. The award letter lists all financial aid you are eligible to receive, including scholarships, grants, work-study programs, and/or loans. The award letter is subject to change if your financial aid eligibility changes. Some financial aid awards require you to complete additional paperwork and submit it to the OU Office of Financial Aid.
 

1	FAFSA Tutorial Apply for a PIN Complete the FAFSA  |  View Details and Common Errors
2	Calculate 2010-2011 Costs - to determine financing (by using your award letter) Student Loan Repayment Calculator
3	Entrance Interview
4	First-time borrowers, new OU students or to select a new lender Apply for a Federal Direct Stafford Student Loan Apply for a Federal Direct Parent (PLUS) Loan Apply for a Private/Alternative Loan (optional) Net Price Calculator

FAFSA Details

Students/parents must have all the necessary forms before attempting to fill out the FAFSA. With all the forms gathered, filling out the FAFSA should be a snap. Here's a list of necessary forms:

• Social Security card
• Driver's license
• Student's income tax returns. W-2 forms, and 1099 forms for the previous year. Married students will also need their spouse's documents.
• Parents' income taxes returns, W-2 forms and 1099 forms for the previous year (if student is a dependent or under the age of 24)
• Records of other untaxed income received such as social security benefits, military or clergy allowances etc.
• Current bank statements and records of stocks, bonds, mutual funds and other investments.
• Business or farm records (if applicable),
• Alien registration cards (if not an U.S. citizen).
• Records relating to any unusual family financial circumstances, such as medical and dental expenses not covered by health insurance, death, divorce, and loss of unemployment
• The Ottawa University Institution Code for all students is 001937

Common Errors

Making a mistake on the FAFSA can delay the processing of the application by up to three weeks. Historically, one in seven FAFSA forms are returned due to errors.

• The most common mistake students make is leaving a field blank. If the answer is zero or the question does not apply, students should write in a zero.
• Students must use the Federal tax return for income reporting and reporting taxes paid. Many parents and students mistakenly use their W-2 form or State return. *Do not forget to report all the required sources of untaxed income. Review their/spouse and their parents' W-2 Box 13 for sources of untaxed income such as contributions to retirement programs and other pretax income.

Students must also

• Report correct marital status. If you file as a married student, you must be married on or before the date that they sign the FAFSA.
• Make sure to include stepparents' information, if the custodial parent is remarried if applicable.
• Include yourself in the household size even if they didn't live there during the previous year.
• Remember to sign the application. If you are a dependent student, both the student and the parents must sign. (If students file electronically, they must make sure they use their PIN numbers or return the certification page.)
• As with all forms and applications, students must make sure they read all instruction and questions carefully. Students who are uncertain about a question or are having trouble filling out the FAFSA, should contact the Ottawa University Department of Financial Aid.

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