WHAT DO I NEED TO KNOW ABOUT
SCHOLARSHIPS & FINANCIAL AID AT OTTERBEIN?
2013-14
College is an investment in the future. We understand that no matter how valuable that investment is, it takes on a different reality as families ask themselves if the college that is the best fit for their student is also one they can afford. I want you to know that Otterbein’s commitment, since 1847, has been to invest in talent and to support its students. In fact, as you can see in the chart on page 4, last year our students met 40.9% of their school costs through Otterbein scholarships and grants. We work with great care and attention to ensure that Otterbein’s incredible educational experience is an affordable opportunity for every one of our students. I encourage you to explore the merit scholarships and talent awards detailed in this brochure, as well as the introductory information for our need-based support, including grants, low-interest federal loans and work study awards. Otterbein is an investment, and one that our families believe is worth it. A recent survey of Otterbein graduates from the Class of 2011 found that one year after graduation 96% of graduates were either working, enrolled in graduate school or performing full-time service through programs like Americorps or Teach for America. Otterbein’s goal is to be your partner in this process. I hope this information helps illustrate how the value of an Otterbein education is a life-changing opportunity most families can afford.
Jefferson R. Blackburn-Smith Vice President for Enrollment Management P.S. I also encourage you to use Otterbein’s Financial Aid Estimator to get a better idea of what your aid package might look like. The estimator can be found online at www.otterbein.edu/estimator.
AL N A N C I> > > I F D N A ! INSIDE ARSHIP S C H O LF O R M AT I O N AID IN 1
Otterbein values talented, promising scholars who are eager to learn, to lead and to better themselves so they can better their world. We reward hard work and offer needed support to help make sure you have the opportunity to become a proud CARDINAL.
? HOW MUCH DOES IT COST
TO ATTEND OTTERBEIN? 2013-2014 EXPENSES
TUITIO
N
$31,426 $4,828
ROOM
$4,382
BOARD T O TA L
$40,636
WE KNOW. IT IS A BIG NUMBER. But we also want you to know that Otterbein University believes in supporting students. That’s why 86% of Otterbein students receive some form of merit and/or need-based aid. Read on to learn how many families are able to afford Otterbein’s excellence.
? WHERE DO I START? WWW.OTTERBEIN.EDU/ESTIMATOR Otterbein’s Affordability Estimator helps you predict the type of aid you might receive. Enter your test scores, your GPA, and some other basic financial information and you’ll get an estimate of
the aid package you will likely be offered. Explore how varying test scores affect your package to determine if it might be worth taking the ACT or SAT once more. 2
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WHO GETS MERIT AID?
Merit Aid is awarded as scholarships and is based on academic performance, demonstrated leadership and for some academic programs, includes a talent component. Financial need is not a factor in merit aid.
High school performance (scholarship and leadership) Cumulative GPA
N U S E D SI ? E R A A I P RITER ARSHI W H AT DCI N G S C H O L AW A R
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WHO GETS NEED-BASED AID?
Class rank (if your school provides one) ACT and/or SAT scores Sometimes other criteria, like your application essay and letter of recommendation or other distinguishing factors, are also considered
Need-based aid is awarded as grants, loans or work-study awards. To receive any consideration for need-based aid your family must file the Free Application for Federal Student Aid (known as FAFSA) at www.FAFSA.ed.gov. This application is used to determine what type of federal, state or Otterbein need-based aid your family is eligible to receive. Filing the FAFSA is the only way families have access to federal lowinterest student loans.
WHY SH
OULD
? OR AID F Y L P P IA
Every family’s situation is different but there are a few important reasons you should file an application at www.FAFSA.ed.gov.
Otterbein awards need-based aid to families with higher incomes than most public universities do. If your family’s financial situation changes at any time, Otterbein can more rapidly respond if you have a FAFSA filed.
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SCHOLARSHIPS
WHAT KINDS OF SCHOLARSHIPS DOES OTTERBEIN OFFER? Otterbein offers a full slate of competitive scholarships to recognize student achievement. All of the scholarships listed are awarded for full-time study for four years as long as the academic requirements are fulfilled. THIRD PARTY SCHOLARSHIPS Remember to actively seek out additional scholarship support from other sources. Check with local civic organizations, employers and free web-based scholarship search engines. A limited number of departmental scholarships are available for upperclassmen. Check with your academic department to learn more for possible future opportunities.
FINANCIAL AID AWARDED TO THE 2013-2014 ENTERING CLASS Parents’ Income Average Financial Aid $100,000+ $17,043 $80,000+ $22,095 $60,000+ $25,477 $40,000+ $27,551 <$40,000 $28,905
WHAT DO I NEED TO KNOW ABOUT THE FAFSA?
Every school sets its own priority FAFSA deadline. Otterbein’s priority filing date is Feb. 15. You only need to file the FAFSA once but be sure to file it by your earliest priority date for all schools to which you are applying. Also, you should complete your FAFSA by the priority deadline even if you haven’t received your admission decision. You should also file the FAFSA by the priority date even if you haven’t completed your taxes. The application allows you to use an estimate based on previous year’s taxes until you are able to submit your final information. Finally, you never have to pay to file the FAFSA. Only submit your information with www.FAFSA.ed.gov.
WHAT DO I NEED TO REMEMBER ABOUT MERIT AID? 1
Your application to Otterbein is your application for most merit aid and scholarships.
2
Apply to Otterbein by Jan. 15 for priority scholarship consideration.
3
You can expect to hear about your academic merit aid package within a few weeks of your admission decision.
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Talent awards offered in Art, Communication, Music, Theatre and Dance require an application and/or an audition or portfolio review. Visit www.otterbein.edu/audition for more details or talk with your counselor.
HOW DO OTTERBEIN FAMILIES PAY FOR SCHOOL? Otterbein Aid 40.9% Out-of-pocket 24.8% (monthly payment plan, savings, etc.) PLUS & Private loans 14.9% Federal loans 12.8% Federal & State need-based aid 6.6%
WHAT DO I NEED TO REMEMBER ABOUT APPLYING FOR NEED-BASED AID? 1
Otterbein’s priority filing date for FAFSA is Feb. 15.
2
Otterbein’s FAFSA code is 003110.
3
You must file a FAFSA every year to be considered for need-based aid. 4
U IT IO N
H A L F -T
DUNLAP, COLDIRON, AND THOMPSON AWARDS
These three competitive full-tuition scholarships awarded to those students who demonstrate superior scholarship in high school. A select number of students who have applied prior to the January 15 priority scholarship deadline are invited to compete on campus each year for these awards. Requires maintaining a 3.0 GPA or higher. Due to the value of this award, the value of other merit awards are included in this award.
MERIT SCHOLARSHIPS:
Awarded to those students who have demonstrated scholarship and leadership in high school. Consideration for this award is based on a student’s overall application for admission. These scholarships are renewable for, up to four years.
PRESIDENT’S SCHOLARSHIP *
($64,000 4-YEAR VALUE)
Average student qualifications tend to be a 4.0 Weighted GPA, 28 ACT or 1260 SAT (Math and Critical Reading).
Competitive half-tuition scholarship for student leaders from Franklin and contiguous counties. For consideration, students must apply by the January 15 priority scholarship deadline and be recommended by their High School Counselor and/or the Office of Admission. Requires maintaining a 3.0 GPA or higher. Due to the value of this award, the value of other merit awards are included in this award.
ADDITIONAL SCHOLARSHIPS AND AWARDS: $ 1 ,0 0 0
00 T O $ 5 ,0
Offered to multicultural students who exhibit both strong scholarship and leadership. Consideration for this award is based on a student’s overall application for admission. Requires maintaining a 3.0 GPA or higher.
$ 1 ,0 0 0
$ 1 4 ,0 0 0 ($56,000 4-YEAR VALUE)
Average student qualifications tend to be a 3.77 Weighted GPA, 25 ACT or 1150 SAT (Math and Critical Reading).
$ 1 2 ,0 0 0
PROVOST SCHOLARSHIP *
BATTELLE SCHOLARSHIP
AMMONS-THOMAS AWARDS
$ 1 6 ,0 0 0
TRUSTEE SCHOLARSHIP *
U IT IO N
($48,000 4-YEAR VALUE)
Average student qualifications tend to be a 3.5 Weighted GPA, 24 ACT or 1110 SAT (Math and Critical Reading).
$ 1 1 ,0 0 0
DEANS’ SCHOLAR AWARD **
($44,000 4-YEAR VALUE)
Average student qualifications tend to be a 3.2 Weighted GPA, 22 ACT or 1050 SAT (Math and Critical Reading).
ALUMNI SCHOLAR AWARD **
00 T O $ 7 ,0
INTERNATIONAL BACCALAUREATE SCHOLARSHIPS Awarded to recognize participation in the IB Programme. The amount is determined by level of achievement and on an individual basis. Requires maintaining a 3.0 GPA or higher.
$ 6 ,0 0 0
,0 0 0 TO $24
MUSIC TALENT AWARDS
Offered to full-time students majoring in Music. These awards are given on the basis of demonstrated talent as determined by audition. Music Participation Awards for non-majors are also available. Due to the value of this award, the value of other merit awards are included in this award.
$ 4 ,0 0 0 $500 TO
TALENT AWARDS
$ 5 ,0 0 0 ($20,000 4-YEAR VALUE)
Average student qualifications tend to be a 3.0 Weighted GPA, 20 ACT or 1000 SAT (Math and Critical Reading).
Offered to full-time students majoring in Communication, Theatre, Art or minoring in Dance. These awards are given on the basis of demonstrated talent as determined by audition, portfolio review, written essay or interview.
$ 1 ,0 0 0 *Requires maintaining a 3.0 GPA or higher. **Requires maintaining a 2.5 GPA or higher.
SCHOLARSHIPS
F U L L -T
LEGACY AWARDS
Awarded to each accepted student whose parent(s) or grandparent(s) attended Otterbein.
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? AREN’T PRIVATE SCHOOLS MORE EXPENSIVE? Most state schools are subsidized by state tax dollars, which enables public institutions to offer lower tuition. Otterbein receives no such funding. However, Otterbein works tirelessly to offer scholarships and competitive financial aid packages that bring the benefits of a private college education closer to the cost of a state, public institution. We believe the excellence of Otterbein’s nationally-ranked curriculum and the opportunity that comes with our recognition as a leader in experiential hands-on learning is an opportunity families can afford. Of these Otterbein students:
State of Ohio Average Debt at Graduation
$29,278*
Otterbein
$22,862**
*SOURCE: Based on data from the Project on Student Debt (Class of 2011)
28%
Graduated debt free
52%
Graduated with only low-interest federal loans
20%
Graduated with federal and private loans
**SOURCE: Otterbein University, mean debt of 2013 graduates.
? HOW DO I COMPARE FINANCIAL AID PACKAGES? Every school packages its financial aid awards differently. There are, however, several things you should look for: • Is your merit award guaranteed for four years? • Are the renewal criteria clearly articulated? • Are the components of your aid package clearly articulated? As you are comparing your awards, you want to be sure you understand how much of your financial aid is gift aid, which doesn’t require repayment; how much requires repayment and when that repayment is scheduled to begin; and, if any of the scholarships or grants are only for one year.
All of the Otterbein merit scholarships listed in this publication are guaranteed for four years as long as you maintain the stated academic criteria as a full-time student. Your Otterbein award information will be clear and detailed. We know this is a lot of information. We want you to remember that you will have the ready assistance of the teams in Financial Aid and Admission to help answer any questions you may have throughout this entire process. In fact, last year we called nearly all of our families to make sure they understood their student’s award package.
“You will get your money’s worth. Otterbein does a great job of preparing you for the real world. There’s no sugar coating. It’s hard. You will work but you will be prepared.” MATTHEW SOPPELSA '14
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NON-PROFIT ORGANIZATION U.S. POSTAGE PAID WESTERVILLE, OH PERMIT NO. 177
Office of Admission 1 South Grove Street Westerville, OH 43081-2004
? WHAT COMES NEXT? NOW
NOV. 1
JAN. 1
Use Otterbein’s Cost Estimator to get a likely preview of your aid package at www.otterbein.edu/estimator. If you haven’t already, apply to Otterbein. You can apply online at www.otterbein.edu/apply. Otterbein begins mailing admission decisions as of Nov. 1. FAFSA is available online to begin your application.
JAN. 15
Apply by this date for priority application status for Otterbein scholarships.
FEB. 15
Otterbein’s priority FAFSA filing date. Otterbein’s FAFSA code is 003110.
MIDMARCH
Notification for Financial Aid Award packages mailed.
MAY 1
National decision deadline. Submit your $150 enrollment fee by May 1 deadline as the first step in officially accepting your Otterbein financial aid package.
? I STILL HAVE QUESTIONS.
CAN SOMEONE HELP ME? The offices of Admission and Financial Aid are eager to help you. If you contact us through email or leave a voicemail, we will do our best to return your inquiry within 24 hours.
OFFICE OF ADMISSION 614.823.1500 WWW.OTTERBEIN.EDU/ADMISSION OFFICE OF FINANCIAL AID 614.823.1502 WWW.OTTERBEIN.EDU/FINANCIALAID