Financial Aid
Many students find it necessary to obtain financial assistance to attend Ottawa University. With this in mind, the University offers financial aid to qualified accepted applicants. The types of financial aid available vary by student and location. The Department of Financial Aid assists a large percentage of Ottawa University students. Consideration that is fair and equitable can only be given after the student has submitted the proper application materials to determine eligibility. Students are urged to submit these materials well in advance of matriculation dates, as processing a student’s aid may require several weeks. The priority application deadline for students attending the traditional residential campus (The College) is March 15 for the following fall semester. Applying by this deadline will assure the student of consideration for all types of aid. There is no application deadline for students attending the adult campuses. Students must promptly respond to requests for additional documents and forms to allow the staff in the Department of Financial Aid time to process their aid.
Federal financial aid is awarded on the basis of financial need (except for Direct unsubsidized and PLUS Loans). When a student applies for federal student aid via the Free Application for Federal Student Aid (FAFSA), the information reported is used in a formula, known as the Federal Methodology (FM), established by the U.S. Congress.
The FM includes factors such as taxable and nontaxable income, assets (savings, etc.), benefits (social security or unemployment insurance), and the number of family members in college and is used to calculate the expected family contribution (EFC), which is the amount the student and family are expected to contribute toward the student’s education. Students may receive a booklet describing the FM in detail by writing to:
Federal Methodology
Federal Student Aid Programs
P.O. Box 84
Washington, D.C. 20044
Or call 800-4-FED-AID
The EFC is used in an equation to determine the student’s financial need:
Cost of Attendance - Expected Family Contribution = Financial Need
The EFC is instrumental in determining eligibility for certain federal and state financial aid programs. Other financial resources received (e.g. scholarships, employer reimbursement, etc.) must be taken into consideration and may affect eligibility for federal and state aid. The Department of Financial Aid will review and modify a student’s financial aid award at any time due to changes in status; new, conflicting or incorrect information; human error; or availability of funds. Financial aid offered through the University is made in good faith but may be canceled or reduced if funds become unavailable.