The state of Oklahoma offers several financial aid programs. Start applying for these programs by submitting the Free Application for Federal Student Aid (FAFSA).
Oklahoma Tuition Aid Grant Program (OTAG)
OTAG is a need-based program for Oklahoma residents who are enrolled full-time or part-time in undergraduate courses at eligible colleges, universities and career technology centers in Oklahoma. The OTAG application is available within the FAFSA. OTAG funds are limited, so it’s important to submit the FAFSA as early as possible each year you need financial aid for college.
Oklahoma’s Promise Scholarship Program
Oklahoma’s Promise allows eighth-, ninth- or 10th-grade students from families with an income of $50,000 or less to earn a college tuition scholarship. Students must also meet academic and conduct requirements in high school and submit the FAFSA during their senior year of high school. Upon completion of the program’s requirements, students earn:
Tuition at an Oklahoma public two-year college or four-year university.
OR a portion of tuition at an accredited Oklahoma private college or university.
OR a portion of tuition for courses at public technology centers that are approved for credit toward an Associate of Applied Science degree at a public college.
Academic Scholars Program
The Academic Scholars Program awards scholarships to Oklahoma residents who score in the 99.5 percentile on the ACT or SAT exam. It’s also available to students who are named National Merit Scholars or finalists, Presidential Scholars or Institutional Nominees.
Other scholarship opportunities unique to the state of Oklahoma include:
Are you planning to take college classes this fall? Are you wondering how to pay for college? If so, you can begin the financial aid process now by submitting the 2016-17 Free Application for Federal Student Aid (FAFSA), available as of Jan. 1. The FAFSA is the application used to obtain all types of federal financial aid, some types of state financial aid and many scholarships, too. Everyone planning to enroll at a college or university should complete the FAFSA. Even if you think you, or your family, make too much money to qualify, apply anyway! Most people qualify for something, and you may be pleasantly surprised by the results.
It’s important to submit the FAFSA as soon as possible each year. Why? Because some financial aid programs that require FAFSA information, including some grants and scholarships, have deadlines early in the year. You don’t want to miss out on any financial aid opportunities.
If you’re going to college next year, it’s time to start thinking about the Free Application for Federal Student Aid (FAFSA)! Here are four reasons why:
The FAFSA is used to apply for all types of federal financial aid and some types of state aid. It is also required for many scholarship programs, including Oklahoma’s Promise.
Applying has never been easier. Complete the FAFSA online.
Doing so is fast and efficient for you and the school(s) receiving your results.
Help is always available. Use the Help and Hints boxes online or contact the Federal Student Aid Center at 1-800-4-FED-AID (1-800-433-3243), or any nearby college or university financial aid office.
You don’t have to wait long to get the ball rolling. The 2016-17 FAFSA became available Jan. 1, 2016 and the 2017-18 FAFSA will be available Oct. 1, 2016. Submit the FAFSA as soon as possible for priority consideration for some types of financial aid.
Completing the Free Application for Federal Student Aid (FAFSA) has never been easier. However, there’s one mistake students and their parents continue to make.
Each year, many families don’t complete the FAFSA because they think they make too much money to qualify for aid. Counting yourself out before even starting is a huge mistake! Even if you think you won’t qualify for aid, you should still submit the FAFSA.
You could be missing out. Billions of financial aid dollars are offered every year. Those funds will be awarded to someone… and that “someone” could be you. But you’ll never know if you don’t apply!
There’s no obligation. You’re not required to accept the aid offered to you. You’ll have the option to decline any aid offered, or you may choose to limit how much you borrow.
Your school might use the data. Some schools use the data on your FAFSA to award school-specific grants and scholarships. So, beyond federal funding, you could take yourself out of the running for school aid by choosing not to submit the FAFSA.
Federal student loans offer options. Even if you know you’ll only qualify for student loans and you’re unsure about borrowing money for school, federal loans could be your best option. Federal student loans often have lower interest rates than private or alternative loans, and they offer flexible repayment plans. They’re also a better option than high interest credit cards.
We get this question a lot, and the answer can be somewhat confusing.
Technically, you can submit the FAFSA throughout most of the year; however, all high school seniors and current college students should submit the FAFSA as soon as the new form becomes available in each year they intend to enroll in college courses.
Why? Two reasons:
The earlier you submit the FAFSA, the sooner you will know what aid is available to you. If you’re considering more than one school, you may receive different aid offers. Filing early gives you time to compare and make an educated decision.
There are other deadlines to consider, including:
Like federal financial aid, many state aid programs use information from your FAFSA for their award purposes. However, state programs have their own deadlines, often early in the year.
In addition to specific financial aid program deadlines, some schools set their own deadlines for school-specific financial aid. Check with the college(s) you’re interested in attending to find out about any special deadlines.
See what we mean by “somewhat confusing?”
Your best bet:Aim to submit the FAFSA as soon as possible each year.
If you miss a deadline, there are other types of financial aid to consider. Some forms of financial aid, including loans, are typically available throughout the year. Plus, many other aid programs offered throughout the year, including many grants and scholarships, don’t require information from the FAFSA.
Financial aid comes in many forms, and the Free Application for Federal Student Aid (FAFSA) is the place to start to find out which types you’re eligible to receive. Remember, some of these programs have early application deadlines, so it’s important to submit the FAFSA as soon as possible each year you intend to enroll in college courses. Here are some of the types of financial aid offered through the FAFSA.
NOTE: There are also grants and scholarships offered by private corporations or non-profit groups that don’t necessarily require information from the FAFSA. You can search for scholarships by deadline or category at UCanGo2.org.
A form of self-help aid, federal work-study provides part-time jobs for students (usually on- or off- campus) allowing them to earn money to help pay educational expenses. The program encourages community service employment and work related to the student’s course of study.
Federal student loans are offered at low interest rates. Some are based on financial need and some aren’t. The amount you can borrow depends on many factors, including your grades, financial need, cost of attendance, the length of your school’s academic year and other sources of aid. All student loan funds borrowed must be repaid, regardless of whether you obtain a degree or drop out early. Remember, you don’t have to accept all student loan funds offered to you. Only borrow what you need to pay for your school expenses. Learn how to Borrow Smart from the Start at ReadySetRepay.org.
When paying for school, always go for free money first, including grants and scholarships. Then, use any funds you or your family have saved to contribute to your college costs. If you still need assistance, turn to the federal work-study program and low-interest student loans to help cover your expenses. For more information about paying for college, visit the Paying for College section at UCanGo2.org.
High school students: Are you counting the days until your school year is over? Of course you are! But don’t let your summer bliss distract you from one very important deadline. Students in the 8th, 9th or 10th grade must submit their Oklahoma’s Promise scholarship applications by June 30, 2015.
Sophomores, June 30 is your final deadline. Any application not submitted by this deadline will be removed from the application system, and you could miss out on thousands of dollars in scholarship funds that do not have to be paid back. Don’t make this costly mistake! Submit your application right away.
To learn more about Oklahoma’s Promise and the qualifications for receiving the scholarship, visit OKPromise.org.
When you add a college code to your Free Application for Federal Student Aid (FAFSA), that school receives important information from your FAFSA. You should add the codes for colleges you’re seriously considering attending. If you’ve already submitted your Free Application for Federal Student Aid (F AFSA) and have since discovered another college you may like to attend, it’s not too late to add the new school code to your online FAFSA application. In fact, it’s never too late to include additional schools. To add schools to your FAFSA, simply:
Because a few types of financial aid are available year-round, there is not a specific deadline to submit the FAFSA. However, many scholarships and grants require information from your submitted FAFSA and have deadlines early in the year.
If you plan to apply for grants and scholarships that require information from your FAFSA, find out which grant or scholarship has the earliest deadline and aim to submit your FAFSA before then. Allow yourself enough time to get organized, gather materials, file your taxes, if possible, and complete the application.
Check out our previous post for more information about the benefits of applying early!
When it comes to submitting the FAFSA, it holds true that the early bird gets the worm (or in this case, the money).
Those who apply for financial aid early in the year:
Receive their financial aid eligibility results earlier.
Open more opportunities to earn scholarships and grants with early deadlines.
Have one less item on their “To-Do Before College” list.
Remember, some types of financial aid, including the Oklahoma Tuition Aid Grant (OTAG), are first-come first served. It’s important to submit your FAFSA as soon as possible after Oct. 1 to make sure you miss out on any financial aid opportunities. However, many other types of financial aid are available throughout the year, so be sure to apply even if you think you may be too late.
What you need to know about submitting the Free Application for Federal Student Aid