Loan Programs
OBU offers convenient payment plans which allow you to pay your tuition, fees, room and board in either three or five payments per semester. These are not loan programs. There is no interest charged, but finance charges will be applied to late payments. There is a $25 origination fee per semester. For the five-payment plan, monthly payments begin July 1 for the fall semester and December 1 for the spring semester.
Loans are an increasingly important part of financing a college education. These have low interest rates and repayment begins after graduation.
For the three-payment plan, monthly payments begin September 1 for the fall semester and February 1 for the spring semester.
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Perkins Loan Up to $3,000 have a 5 percent interest rate with repayment beginning nine months after your last semester.
Tuition ..................................... $12,286 Fees ................................................ 876 Room ........................................... 1,750 Board ........................................... 2,050 Subtotal ................................... $16,962
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Stafford Loan Freshmen may be able to take up to $2,625 with higher amounts available in later years with the interest rate capped at 8.25 percent. The government may pay the interest while students are enrolled if there is “demonstrated need” on the FAFSA. Repayment begins six months after your last semester.
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Parent (PLUS) Loans Parents are able to borrow up to the total cost of education less any financial aid available to the student. Repayment of this loan has a variable interest rate capped at 9 percent and begins 60 days after disbursement with a minimum monthly payment of $50. OBU Endowed Loans Up to $4,000 available on a limited basis to students who demonstrate financial need.
The First Step So here’s the next step. We suggest that you complete the Free Application for Federal Student Aid (FAFSA) because a variety of college work programs, grants, and loans are based on your demonstrated need according to FAFSA. You don’t need to complete the FAFSA if you are applying for academic achievement-based awards only. The FAFSA is available at all high school guidance offices, OBU, or any college financial aid office. The FAFSA can be completed at www.fafsa.ed.gov. The Title IV code for OBU is 003164. You can check the status of your filed FAFSA at 1-800-4-FEDAID.
More Information? www.okbu.edu/admissions/lightenyourload
FINANCIAL AID AT OBU
Requirements: This is not a financial aid program but it does allow many families to take a tax credit. Since this is a tax credit against federal income taxes, it will not be reflected in your OBU financial aid award. Any question regarding this program should be directed to your tax preparer. Details: Up to $1,500.
Payment Plans
Lighten Your Load
FINANCIAL AID AT OBU
Lighten Your Load
Hope Tuition Federal Tax Credit
LET’S FACE IT. Paying for college can be a challenge no matter where you go. At the state level, tuition may be lower, but student fees and other extras may turn out to be higher. At private schools, it may be the opposite. Wherever you go, you want the financial aid office to help you in off-setting the costs, and you want your college choice to be a wise investment for your future.
At OBU, we are here to help. We have consistently remained one of the more affordable Christian universities in America. More than 90 percent of OBU students receive some type of aid, and last year’s total was more than seven million given out just in scholarships. You may very well “lighten your load” when you explore the options at OBU. Here’s some useful information, and don’t forget to go online at www.okbu.edu/ lightenyourload for more information.
General Information Best Date to Apply by: Freshmen: February 1 (fall) | November 15 (spring) Transfer: May 15 (fall) | November 15 (spring) NOTE: Meeting the minimum criteria for a scholarship does not guarantee an award at that level. Applicants not receiving a higherlevel scholarship will automatically be considered at the next level.
Academic Scholarship Opportunities ◆
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O BU
University Scholarships for Freshmen Requirements: 3.9 GPA, 32 ACT or 1400 SAT. Details: 10 full tuition scholarships, renewable with a 3.5 OBU GPA. Freshmen and Transfer Distinguished Scholarships Requirements: 3.5 GPA, 27 ACT or 1200 SAT for freshmen and a 3.5 college transfer GPA. Details: Freshmen – $2,000 to $5,000; Transfer – $2,000 to $3,000 Renewable with 3.0 OBU GPA. Freshmen and Transfer Achievement Scholarships Requirements: 3.0 GPA, 23 ACT or 1050 SAT for freshmen and a 3.0 college transfer GPA. Details: $500 to $1,500 range. Renewable with a 3.0 OBU GPA.
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Falls Creek Scholarships Requirements: Oklahoma high school student, attendance at Falls Creek. Details: $500. ◆
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Talent, Church and Athletic Awards Renewable for four years (a total of eight semesters) provided that the student maintains the appropriate OBU GPA. ◆
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Acteen and Challenger Scholarship Requirements: Past activity in Acteens or Challengers. Details: $200 to $800. Air Force ROTC Dorm Room Scholarship Requirements: ROTC type I or II, participation in OBU’s cross-town ROTC program at the University of Oklahoma. Band Awards Requirements: Awarded by audition, participation in the Symphonic Band. Details: Up to $600 annually. Church Partnership Scholarship Requirements: A church or association provides up to $250. Details: OBU matches up to $250.
Church Staff Dependents Scholarship Requirements: Dependents of paid, professional staff members of Southern Baptist churches, associations or conventions. Details: $500.
Fine Arts Scholarship Requirements: For music, art, theatre or telecommunication majors. Audition or portfolio due by March 1. Details: $500 to $4,000. Oklahoma Regents Academic Scholar Requirements: National Merit Scholars or Oklahoma residents with an ACT or SAT composite score in the 99.5 to 100 percentile. Details: $4,000.
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Prichard Church Vocations Scholarships Requirements: Entering Southern Baptist ministry or missions. Details: $1,800.
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Super Summer Scholarships Requirements: Oklahoma high school student, attendance at Super Summer. Details: $500.
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Valedictorian Scholarships Requirements: Number one ranking, maintain a 3.5 OBU GPA. Details: $500. Varsity Athletic Awards Requirements: Outstanding athletic ability. Details: Varying amounts.
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Zoll Business Scholarships Requirements: A business-related major. Details: $1,000.
What is College Work Study? A limited number of on-campus jobs can help defray the cost of attending college. Students normally earn about $1,500 per year based on working 10 hours per week. Students are paid every two weeks. You can apply when you arrive on campus.
Grant and Gift Aid Programs ◆
OBU Endowed Scholarships Requirements: Need based assessed by OBU. Details: $250 to $1,000, funded by annual gifts to OBU.
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Riddle Scholarships Requirements: a graduate of a high school in the Oklahoma counties of Lincoln, Pottawatomie and Seminole. Details: Up to $5,000 for freshmen or transfer students.
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Federal Pell Grants Requirements: Demonstrated exceptional financial need. Details: Up to $4,050 per year.
◆ Federal Supplemental Grants (SEOG)
Requirements: May be available for students who qualify for a Pell Grant. Details: Up to $600. ◆ Oklahoma Tuition Aid Grant (OTAG)
Requirements: Oklahoma residents with lower-to middle-level income. Details: Up to $1,300.
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