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 campuses 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 based on 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 uses most of the tax information that is transferred directly from the IRS into the FAFSA form if you provide your consent and approval. Students may receive additional resources on Federal Student Aid online at https://studentaid.gov/resources or call 800-4-FED-AID
The Student Aid Index (SAI) is used in an equation to determine the student’s financial need:
Cost of Attendance – Student Aid Index = Financial Need
The SAI 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.