Most Americans today view a college degree as an investment that is critical for a rewarding and successful future. Although obtaining a higher education isn't free, the personal and professional benefits, in virtually all cases, far outweigh the costs.
While preserving its position among the nation's premier technical universities, OSU Institute of Technology has continued to maintain affordable costs through state and private support. In fact, the total costs of attending OSU Institute of Technology are considerably lower than those of most other higher education institutions-even though its alumni are in greater demand than graduates of many more expensive colleges and universities. That's why pursuing your educational and professional goals at OSU Institute of Technology is such a wise choice.
Nevertheless, it's important to be aware of your options when it comes to financing your higher education. Proper, upfront planning will allow you to pursue your goals with confidence, and in the smoothest, most efficient manner possible. Our experienced Student Financial Services counselors are here to provide you with up-to-date information, and assist you in determining which option(s) may be best for you.
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How do I apply for financial aid?
To begin the application process for financial aid, complete the FAFSA (Free Application for Federal Student Aid) online at www.fafsa.ed.gov.
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If I (the student) am separated but filed a joint tax return, how is the information reported?
You should only give your portion of the exemptions, income and taxes paid.
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What is an independent student?
An independent student is one that meets the following criteria as established by the Department of Education:
- Someone who was born before 1/1/1985
- Will be a graduate or professional student
- Is married as of the date of application
- Has dependents other than a spouse
- Is an orphan
- Is or was a ward/dependent of the court
- Is a Veteran of the U.S. Armed Forces
- Is currently serving on active duty for purposes other than training
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How can I separate from my parents and become an independent student?
Financial aid administrators are able to make dependency overrides on a case-by-case basis. Contact Student Financial Services if you have a unique situation not addressed below. You may complete a request for special consideration. However, none of the conditions below qualify as a reason for granting a dependency override:
- Parents refuse to contribute to student's education
- Parents are unwilling to provide information on the FAFSA or for verification
- Parents do not claim the student as a dependent for income tax purposes
- Student demonstrates total self-sufficiency
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If I am an emancipated minor, am I now independent?
The status of emancipated minor is not recognized by the Department of Education. For financial aid purposes, you are considered a dependent student unless you meet the other criteria for a dependency override by your financial aid administrator.
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If my parents are divorced, whose information do I need?
Report the information of the parent with whom you lived the most during the 12 months preceding the date you completed the FAFSA. It does not make a difference which parent claimed you for tax purposes. If you did not live with either parent or lived equally with each parent, the parental information must be provided for the parent from whom you received the most financial support during the preceding 12 months or the parent from whom you received the most support the last time support was given.
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My parents separated four months ago. I live with my mother. My parents filed a joint tax return and claimed me as an exemption. Do I report both of their incomes or only my mother's?
Report only your mother's income and asset information because you lived with her the most during the past 12 months. Use a W-2 form or other record(s) to determine her share of the income reported and taxes paid on the tax return.
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I am entering financial information for my mother and stepfather on the FAFSA. Should I give my father's social security number (SSN) and last name, or my stepfather's?
You should provide the SSN and last name of the same person or people for whom you are reporting financial information. In this case, provide the SSN's and names of your mother and stepfather.
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I live with a guardian other than my parents. How does this affect my ability to receive financial aid?
If the guardian is your adoptive parent, you will use their federal income taxes to complete your FAFSA. If they are not your adoptive parents and you have not had contact with your biological parents or you left an unsafe situation, contact the SFS office. They may be able to make adjustments on a case-by-case basis.
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What should I do if my family has special circumstances that aren't mentioned on the application?
If you or your family has unusual circumstances such as loss of employment, loss of benefits, death or divorce, complete the FAFSA to the extent you can and submit, as instructed. Contact your financial aid office to request a special consideration of circumstances that are beyond your control.
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What are the differences in grants, loans, scholarships?
A GRANT is money that you do not pay back.
A SCHOLARSHIP is money that is awarded to you either by your school or from an outside source and is not paid back.
A LOAN is money that you pay back to the lender that you choose. Normally, repayment begins six months after you leave school, graduate or drop below half-time status.
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What grants are available?
Several grants are available for students, some awarded on a first-come, first-served basis. Once you complete your FAFSA at www.fafsa.ed.gov, we will be able to determine the grants for which you qualify. Some possibilities are Pell Grant, SEOG (Supplemental Educational Opportunity Grant), ACT (Academic Competitiveness Grant), SMART Grant, OTAG (Oklahoma Tuition Aid Grant).
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What terms (semesters) does the FAFSA cover?
An academic year begins with the Fall Term and ends with the Summer Term. All financial aid expires at the end of the Summer Term. You must re-apply for financial aid each academic year.
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What is the awarding process and what should the student expect?
Once we receive your FAFSA, we will request any additional information needed. Once we receive this information, you should receive an award letter within four weeks. If you have requested student loans, application instructions will be included in your award letter.
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What are the Federal Student Aid dates for deadlines and disbursal of funds?
The key to obtaining financial assistance is to apply early. To ensure that your financial aid "package" is available and ready for you upon enrollment, we recommend that your completed FAFSA and necessary forms be received in the financial aid office by the following dates:
Deadline for Applying
Fall Term: July 1
Spring Term: November 1
Summer Term: March 1
Disbursal Dates
Financial Aid disbursements are made on the third (3rd) Thursday after the beginning of each semester.
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Is applying for FAFSA the same thing as applying for a loan?
No, when you submit your FAFSA, you are providing your financial aid office with the information they need to determine which grants and loans for which you will qualify. Once we have determined you qualify for a student loan, additional loan paperwork will be needed. You are required to complete a new Master Promissory Note (loan application) each award year.
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Is my FAFSA application safe on the Internet?
Yes. Your application is safe on the Internet. FAFSA on the Web, working with your supported browser, uses Secure Sockets Layer (SSL) protocol to create a secure session between your browser and the FAFSA on the Web server. All information passed by you to the FAFSA on the Web server will be "scrambled" through a process called encryption.
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Is my application to OSU Institute of Technology and information safe on the Internet?
Yes. OSU Institute of Technology employs industry standard security measures to ensure the security of all personal data you submit directly to us. Your information is submitted via a secure and encrypted connection so that the information is protected. Any data that is stored by OSU Institute of Technology is treated as private and confidential and is not available to the public and will not be shared.
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What is the cost of college?
Visit our tuition and fees information page for information on tuition, fees, and our refund policy.
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What scholarships does OSU Institute of Technology have available for me to apply for?
A list of university scholarships is available in the financial aid office as well as online. Visit our scholarships page for applications and deadlines. We also recommend you contact your program department for any additional university scholarships available.
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Is there a specific individual I can speak to in Student Financial Services if I need assistance?
You may contact Student Financial Services at 918-293-4680 or via our website. You may also visit the information desk in the Grady Clack Center. You will then be referred to a Financial Aid Counselor.
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How will I be notified?
You will receive your financial aid award letter by postal mail to the address you have provided on your admissions application.
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What is meant by "Room and Board" if I choose to live on campus?
A room charge is the cost of living in the dorm. Board charges are based on the meal plan chosen by the student.
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How can I secure campus housing?
You must complete a housing contract and pay deposit. You will be notified by mail of your room assignment, the name of your room mate, and the move in date.
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I have unusual costs that aren't addressed in any of the questions above, and would like to receive additional financial aid to help meet them. What should I do?
You should make an appointment to see a Financial Aid Counselor! There are likely other types of expenses that individual students may incur which are not discussed above. If you are having difficulty meeting your financial obligations or if you feel your particular educational expenses are unique, a Financial Aid Counselor can evaluate your expenses and determine if they are allowed as adjustments to your Cost of Attendance.
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Who should I contact if I have a financial aid question not addressed above?
You may contact our office via e-mail at information@okstate.edu, phone at (918) 293-4680, or in person in the Grady Clack Center.
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Where can I get help to pay for college?
Completing the FAFSA application is the first step to financial assistance. This will determine your eligibility and amount of Pell Grant, SEOG (Supplemental Educational Opportunity Grant), ACT (Academic Competitiveness Grant), SMART (Science and Mathematics Access to Retain Talent, and OTAG (Oklahoma Tuition Aid Grant).
For more information, see this Financial Services page.
Federal Stafford Loans
Federal Stafford Loans are low-interest loans made to students attending OSU Institute of Technology at least halftime. These loans are made by lenders such as banks, credit unions, or savings and loan associations. These loans are insured by the guaranty agency in each state and reinsured by the federal government.
Federal Stafford Loans must be repaid beginning six months after graduation, leaving school, or when dropping below half-time (six semester credit hours) status.
The Federal Subsidized Stafford Loan is based on financial need. The loan amount will depend on financial need, which the college's financial aid office will determine.
The Federal Unsubsidized Stafford Loan is a student loan that is not based on financial need. The loan amount will depend on the cost of attendance at OSU Institute of Technology and the amount of other aid the student is receiving. The student is responsible for paying the interest on an Unsubsidized Stafford Loan while in school.
A separate loan application is required to apply for the Federal Subsidized or Federal Unsubsidized Stafford Loan. This loan application can be obtained in the Student Financial Services Office.
Scholarships
Various types of scholarships may be offered to graduating high school seniors interested in attending OSU Institute of Technology and to current OSU Institute of Technology students. Several on and off-campus organizations and individuals also offer scholarships to OSU Institute of Technology students. Students who would like to search for scholarships on the Internet may do so by accessing the Fast-Web site at www.fastweb.com. For further scholarship information, contact the OSU Institute of Technology Scholarship Coordinator, 918-293-5288 or visit the OSU Institute of Technology scholarships website.
Visit this page for a list of other possible funding for your education.
Sponsors
Depending on your program of study, a number of manufacturers of specific programs will assist with student expenses if you are enrolled in their program.
See the OSU Institute of Technology Automotive Department Web Site and Heavy Equipment and Vehicle Institute Web Site for more information.
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(Effective Fall 2008)