Student financial aid awards depend upon two major factors: financial need and the availability of funds. To determine need, an evaluation must be made of the financial circumstances of both the applicant and the applicant’s family.
The first step in obtaining financial assistance at OSU Institute of Technology is to file a Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. By completing the FAFSA, an applicant may apply for the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Work Study Program, Federal Perkins Loan, Federal Direct Stafford Loan and the Oklahoma Tuition Aid Grant. It is highly recommended that you file your application electronically, however, you may mail a paper copy to:
Federal Student Aid Programs P. O. Box 7001 Vernon, IL 62864-0071
Students can obtain more information about various financial aid programs and services by contacting Student Financial Services at +1 918 293 4684.
To be eligible for consideration for student financial aid through any program, an applicant must meet the following requirements:
The applicant must be enrolled as a regular student in an eligible program of study leading to a degree.
The applicant must meet one of the following criteria:
A U.S. Citizen or U.S. National. (This includes citizens of American Samoa, Swains Island and Northern Mariana Islands.)
A U.S. Permanent Resident. (Documentation of the Form I-151 or Form I-551 from the U.S. Immigration and Naturalization Services may be requested to prove eligibility for financial assistance.)
A citizen of the Freely Associated States: the Federated States of Micronesia and the Republics of Palau and the Marshall Islands.
An Eligible Non-Citizen. (Documentation of eligible non-citizen status from the U.S. Immigration and Naturalization Services will be requested to prove eligibility for financial assistance.)
The applicant must maintain satisfactory academic progress in an eligible program of study.
Effective July 1, 2012, students who do not have a High School Diploma, GED or can provide documentation of meeting home school requirements will not be eligible for Federal Financial Aid.
If a student is enrolled before July 1, 2012 and can show ability-to-benefit (ATB) by either passing the Compass Test or having successfully completed at least six credit hours of postsecondary education toward your degree at OSUIT, the student will be eligible for Title IV aid. (This means you will have to be attending classes prior to July 1, 2012.)
For students enrolling/attending before July 1, 2012, the applicant must have a high school diploma or a General Education Development (GED) certificate, documentation verifying 6 hours toward their degree, or must pass an independently administered test approved by the U.S. Department of Education which shows “ability to benefit”. Any student who makes application for financial aid and has not attained either a high school diploma or GED will be required to take the COMPASS assessment test. This assessment documents the student’s ability in Reading Comprehension, Sentence Skills, Arithmetic and Algebra. The student will be required to attain the following minimum scores on COMPASS in order to demonstrate “ability to benefit” at OSU Institute of Technology.
Minimum Score of 62
Minimum Score of 32
Minimum Score of 25
Students may test two times to attain the minimum score. Students who do not attain the minimum score required on each section of COMPASS will be deemed ineligible for student financial assistance. The COMPASS Test is administered through the OSU Institute of Technology Assessment Center.
Applicant must have a social security number.
Applicant must sign a statement of educational purpose/certification statement of refunds and default in order to receive federal student aid. A signature warrants that a refund is not owed on a Federal Pell Grant or Federal Supplemental educational opportunity grant, a Federal Perkins Loan, Federal Stafford Loan, and that the amount borrowed under those loan programs does not exceed the allowable limits. The student also agrees to use student aid only for educational related expenses.
Applicant must register, or arrange to register, with the Selective Service. The requirement to register applies to males who were born on or after January 1, 1960, are at least 18 years of age, are citizens or eligible non-citizens and are not currently on active duty in the armed services. (Citizens of the Republic of Palau, the Republic of the Marshall Islands, or the Federal States of Micronesia are exempt; however, if a citizen or national of the Republic of the Marshall Islands or the Federated States of Micronesia who lives in the United States for more than one year for any reason except as a student or employee of the government of his homeland must register.)
Applicant must demonstrate financial need. Exceptions are eligibility for PLUS and Federal Unsubsidized Stafford loans.