Applying for Financial Aid
Students seeking need-based financial assistance must complete the Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1. Here are the steps you need to complete for priority awarding.
- Complete FAFSA online. Be sure to list The University of Tulsa on your FAFSA. Our school code is 003185. January 1, 2014 is the first day you can complete the FAFSA for the 2014-2015 academic year. The PRIORITY deadline to apply for aid is March 1, 2014. TU's priority deadline is the recommended date for best consideration. Aid applications received after that date will still receive consideration; however, it is in the best interest of the student to apply as early as possible. Oklahoma residents participating in the Oklahoma Tuition Aid Grant (OTAG) program have a priority deadline of March 1 for best consideration.
Your Financial Aid Award
The amount of aid offered to a student is determined by demonstrated financial need. Financial need is the difference between the amount of money the student and parent(s) can contribute from income and assets (based upon a congressionally approved analysis) and the cost of attending TU, less outside awards.
At the time your application was reviewed, you were automatically considered for all categories of aid, including scholarships, grants, loans and employment. It is the responsibility of the Office of Student Financial Services to determine your eligibility and assign awards appropriate to your needs.
TU reserves the right to reduce or rescind award packages if federal allocations to the university are insufficient to cover expenditures. Outside sources of assistance may be estimated and may change when the award is finalized.
The student budget models used for the determination of financial aid eligibility are based on the “modest but adequate” concept and include both fixed and variable expenses. No provision is made for expenses that are not directly related to your college attendance. There are three basic budget models:
Resident – The student resides in a university residence hall and contracts for a university meal plan. University apartments and fraternities are considered off-campus for cost of attendance purposes.
Commuter – The student resides with a parent or other relative. Freshmen and sophomores must abide by university housing policies.
Off-Campus – The student commutes from and resides in off-campus housing (not owned by a parent or relative).
The financial aid budget is calculated as full time. If you enroll in fewer than 12 hours, you need to submit a written statement to the Office of Student Financial Services indicating you will be a less than full time student. Your financial aid package will be adjusted to reflect your less than full time status. Living arrangements reported on the FAFSA will determine your cost of attendance budget. If you change your living status after completing the FAFSA, you need to contact the Office of Student Financial Services in writing to adjust your cost of attendance budget. Enrollment in audit classes DOES NOT count toward eligibility for financial assistance. If aid is advanced to you for which you are not or were not eligible, you will be required to repay that amount, possibly with interest.