Need-Based Assistance

For information, please write to: Chairperson, Department of Art, Otterbein College, Westerville, Ohio 43081, or call (614) 823-1508.

United Methodist Scholarships-There are United Methodist Denominational and Conference Scholarships for United Methodist students available each year. A number ofthese scholarships are awarded to Otterbein students each year. Applications may be obtained from The Financial Aid Office, Otterbein College, Westerville, Ohio 43081, or call (614) 823-1502.

Bridge Scholarships-Given to fulltime students transferring from community colleges with an earned Associate of Arts (A.A.) degree. Students with an A.A. and a 3.5 or better grade point average on a 4.0 scale receive $4,000 per year. Students with an A.A. and a 3.0 to 3.49 grade point average on a 4.0 scale receive $3,000 per year. Scholarships are renewable annually for a total of two years.

Otterbein Transfer Scholar Awards-Traditional-age transfer students who have attempted at least 12 quarter hours or 18 semester hours of coursework and who have earned a transferrable GPA of 2.8 or higher will receive a $2,500 Otterbein Transfer Scholar Award. This award is renewable during the regular academic year and is based on full-time enrollment. (Ifyou qualify for an Otterbein Scholar Award or Bridge Scholar Award, you would receive one of those awards rather than this transfer award.)

R.O.T.C. Scholarships-Air Force ROTC and Army ROTC offers four-, three-, and two-year scholarships. Thefour-year scholarship is applied for during the senior year in high school. Three- and two-year scholarships are offered to qualified men and women in college and are available in every major. The benefits provided by scholarships may include full payment of tuition, $600 per year for textbooks, and a monthly tax-free allowance of between $250 and $400. Upon entering the Professional Officer Course (POC), all cadets (scholarship and non-scholarship) receive the $350 per month taxfree allowance. This information is subject to change.

Through cooperative agreements, students attend Air Force R.O.T.C. classes at nearby Ohio State University and Army R.O.T.C. classes at nearby Capital University.

Scholarship applications and additional information may be obtained by contacting Ohio State at (614) 292-5441 or Capital at (614) 236-6649.

Need-Based Assistance

To be considered for need-ba ed financial aid, each student must file a Free Application for Federal Student Aid (FAFSA). Students accepted through the Office of Continuing Studies must also complete the Otterbein College Institutional Aid Form (IAF). There is a financial aid priority filing deadline date of April 1 . The FAFSA may be obtained from your high school guidance counselor, the Otterbein Financial Aid Office or completed online through a link at www.otterbein.edu or www.FAFA. Ed.gov.

Financial aid may consist of single or combined offers of non-repayable scholarships and grants, loans and part-time campus employment. By filing the FAFSA, you will be considered for all need-based financial aid offered by the College. The total grant and merit assistance from Otterbein will not exceed tuition. Continuing Studies students must also complete an Institutional Aid Form (IAF).

Federal Grants and Stafford Student Loans are awarded to eligible students during any period of enrollment, including summer. College funds (need based or scholarships) are not available for students attending in the summer, or less than full-time. Financial aid is awarded with the expectation that it will be renewed annually on the basis offunds available, academic progress toward a degree, eligibility, and continued financial need. The FAFSA must be updated and submitted each year in order to renew aid. The suggested timeline for applying for financial aid is between January 1

and April 1 of the year preceding enrollment.

Below is a description of the types of financial aid offered or administered by Otterbein College. For further information about financial aid write to: Office ofFinancial Aid, Otterbein College, Westerville, Ohio 43081, or call ( 614) 823-1502, or toll free at 1-888-OTTERBEIN, or E-mail at Financial Aid@Otterbein.edu.

Grants

The grants listed below are applicable to the student's first undergraduate degree only. Students must be degree-seeking.

Otterbein Grants-Otterbein Grants are College funds awarded to students on the basis of demonstrated financial need to full-time undergraduate students Completion of the FAFSA is required. The Otterbein College Institutional Aid Form (IAF) is also needed for Continuing Studies students and Graduate students.

Sibling Grants-When two or more dependent sibling students are enrolled full time concurrently at Otterbein College, each student will receive a grant of $1,000 for each year of concurrent enrollment.

Otterbein United Methodist Ministerial Grants-Dependent sons and daughters of United Methodist clergypersons who are probationary members, elders in full connection and Deacons in full connection, are assured total grants from all sources valued at one-half tuition.

State Grant Programs- O~o ~esi~ents may receive Ohio Instructional Grants ( oI G) of up to $5,466 per year. Application 1s ~ade by completing the state information request on the FAFSA. Students who are res~dents of Connecticut, Delaware, Pennsylvania, Rhode Island and Vermont ~ay receive state grants which may be used to help meet educational costs at Otterbein College. Students from these states should contact their high school guidance counselors for further information.

Ohio Student Choice Grant-Residents of the state of Ohio who attend Otterbein on a full-time basis and have not attended an institution of higher education full-t· . ·bl . 1me84 1before July 1, 19 , are e 1g1 e to receive The Ohio Choice Grant which has ranged from $900-1,100 per year.

Federal Pell Grant-This is a federal program through which an undergraduate student may receive for the academic year up to a maximum yearly grant of $4,050. Application is made by completing the FAFSA. The Federal Pell Grant is available to all levels of enrollment if student is eligible.

Federal Supplemental Education Opportunity Grants-Alimited number ofstudents who demonstrate a high degree offinancial need are awarded the Federal Supplemental Educational Opportunity Grants (FSEOG).

Loans

Federal Perkins Loan-The Federal Perkins Loan Program is funded by both the College and the federal government. Low-interest, long-term loans are awarded on the basis of exceptional financial need. Interest is not charged while the student is enrolled at least half-time (six credit hours). Repayment begins nine months after graduation or termination of at least half-time enrollment. The loan is repaid in installments with a minimum payment of $40 per month ($480) per year. The maximum repayment period is 10 years, though smaller loans (under $3,600) will be repaid sooner. The current interest rate is five percent.

Federal Stafford Loan-Subsidized and/or Unsubsidized Federal Stafford Loans are available to all tudents enrolled in at least a half-time basis (six credit hour ). These loans are financed through participating lending institutions such as banks, credit unions and savings and loan associations, and are insured by the government. The interest rate for new borrowers is variable and is set once a year. First-time borrowers should complete the Federal Loan Request Form and choose one of our preferred lenders.

Under the subsidized loan program, the federal government pays the interest for eligible need-based students while they are enrolled in at least a half-time basis. Students who do not have demonstrated need or full interest subsidized aid eligibility may borrow from the Unsubsidized Federal Stafford Loan Program. The student is charged loan origination and guarantee fees for each loan that is made. A maximum of $2,625 may be borrowed annually for the first year of undergraduate enrollment and $3,500 the second year then a maximum of $5,500 a year for the last two to three years of school. The total borrowed for dependent undergraduate study cannot exceed $23,000.

Federal PLUS Loans-PLUS (Parent Loans for Undergraduate Students) loans are available to parents of dependent undergraduate students regardless of demonstrated need restrictions. These loans are financed through participating lending institutions such as banks, credit unions and saving and loan association .

An amount up to the difference of the cost of education minus financial aid may be borrowed each year. The interest rate is variable, adjusted each year.

Repayment of PLUS generally must begin 60 days following the final disbursement. The lender will provide additional repayment details.

PLUS borrowers should complete the Parent Loan Request Form and select a preferred lender from our list.