Home ›
Admission and Financial Aid ›
Undergraduate Financial Aid ›
FAQs
FAQs
Eligibility is determined by completing the Free Application for Federal Student Aid (FAFSA). Students must be admitted and degree seeking in order to qualify for assistance. Enrollment must be at least half-time with the exception of Pell recipients in order to qualify for federal aid. Each year students need to reapply to be considered for financial aid.
The amount of aid offered to a student is determined by demonstrated financial need. Financial need can be defined most simply as 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 The University of Tulsa, less outside awards.
For entering freshman, scholarship notification will begin in February. Returning students will receive their scholarship notification beginning in March.
For federal assistance, students can begin filling out the FAFSA as early as January 1, 2009. When your file is complete, the Office of Student Financial Services will review your information and determine your eligibility for aid. Initial award letters per award year will start being mailed out sometime in March.
Once you have received your award letter, please accept or decline your aid and return the letter to our office. You may accept or decline any portion of the offered financial aid by initialing the appropriate line. Declining, totally or in part, any form of assistance (scholarship, grant, loan, work) does not automatically lead to other assistance being increased or substituted.
To be considered for institutional scholarships, you do need to be enrolled full-time (12 hours or more). Students, who are enrolled in at least 6 hours and meet eligibility requirements, may be eligible for federal funds such as loans and grants. Students eligible for the Pell Grant may be enrolled less than half-time.
Yes! Financial aid awards are determined annually. You must reapply for aid each year you wish to receive assistance. Renewal of aid beyond the first year depends upon your academic record, and your continued need, as based on the most recent financial information. Timely submission of the FAFSA and all information requested is required for renewal.
Yes, outside scholarships may affect your eligibility for aid. Please forward that information to the Office of Student Financial Services so that we can evaluate the impact on your aid package.
This loan is funded by the federal government. The University of Tulsa adds a matching share, plus repayments from alumni. Aggregate loan ceilings have been established at $40,000 for graduate students (including undergraduate loans) and $20,000 for undergraduates. The maximum annual loan amount limit is $6,000 for a graduate student or $4,000 for an undergraduate student. The size of the loan depends on financial need and funds available. Interest is 5 percent.
Your Federal Perkins Loan amount will not be reflected on your semester bill. Students must complete loan counseling online at www.mappingyourfuture.org and attend a Perkins Loan session during orientation in August to sign a Master Promissory Note (MPN). Additional sessions will be held the first two weeks of the fall semester. Contact the Business Office for more information. Midyear students must contact the Business Office to sign the MPN. Prior to the initial semester's disbursement, students are required to go through an entrance interview to learn their rights and responsibilities regarding the issuance, disbursement, and repayment of the loan. Repayment (beginning nine months after completion or termination of degree program) of at least $40 monthly is made to the University, which uses the funds for aid to students in succeeding years. Repayment is deferred if the student enters community or national service. Some cancellation of both interest and principal is allowable for teaching the handicapped, for teaching in areas of high concentration of lower income families, for teaching math, science, and foreign languages, for working in a child or family service agency providing services to high risk children in low income communities, for working full time as a nurse, medical technician, law enforcement or corrections officer, and for military service in areas qualifying for special pay.
The University of Tulsa requires that the borrower of a Federal Perkins Loan complete an online exit counseling interview at www.uasexit.com just prior to leaving the University. This interview, conducted by the Business Office, discusses the borrower's rights and responsibilities and includes information such as grace period, deferment privileges, partial cancellation privileges, interest charges, timely remittances, etc. If you default on your Federal Perkins Loan, the credit bureau must be notified.
This loan is administered by banks and other major lending institutions throughout the country. A processing fee may be deducted from the loan proceeds. To qualify for a subsidized Federal Stafford Loan, the student must show a financial need. Students showing no financial need or no remaining need after other aid sources may qualify to borrow an unsubsidized Federal Stafford loan. The difference between a subsidized and an unsubsidized loan is that the federal government pays the interest on a subsidized loan. Unsubsidized loans begin accruing interest at the time the loan is obtained.
Borrowers are required to attend an entrance interview prior to receiving their first loan and an exit interview upon leaving the University.
Entrance interviews will be held for new students during orientation in August or students may complete the entrance interview online at
www.mappingyourfuture.org.
The loan must be disbursed in two equal payments. At least one-half of the loan period must elapse before the second installment can be disbursed. Repayment begins six months after the student is no longer enrolled in at least a half-time basis.
Loans are set to disburse 3 days before classes begin.
Students must complete and submit a separate PLUS Master Promissory Note (MPN) to initiate the loan process. These loans are administered by banks and other major lending institutions and are dependent on credit worthiness. Contact the lender of your choice for an application and pre-approval. A processing fee will be deducted from the loan proceeds. Federal Grad PLUS loans are made in two equal disbursements with the second being made after one half of the loan period has elapsed. If the funding arrives by check, the student must endorse it at the business office in order to have the proceeds credited to the account. If the loan creates a credit balance on the account the excess fund will be refunded to the student by the cashier's office. If the loan proceeds are received by Electronic Funds Transfer (EFT), the money will be directly applied to the account and any excess will be refunded to the student by the cashier's office. Repayment on this loan will begin immediately following the second disbursement.
Please check with your lender as they may be able to offer you forbearance while you are enrolled in school. This loan has a fixed rate of 8.5% as of July 2006.
Parents must complete and submit a separate PLUS Master Promissory Note (MPN) to initiate the loan process. The PLUS MPN is similar to the Stafford, including its use for multiple loans for the same borrower. The PLUS MPN is valid for loans made for a single dependent student. To obtain loans for another dependent student, the parent must complete a separate PLUS MPN. Contact the lender or our TU Financial Aid website for an application and pre-approval.
A processing fee will be deducted from the loan proceeds. Federal PLUS loans are made in two disbursements copayable with the University. At least one-half of the loan period must elapse before the second installment can be disbursed. If your funding comes by check, it will be mailed to the parent for endorsement and must be returned to the University. The amount will be credited to the student's account and any excess will be refunded to the parent. If your funds are received by Electronic Funds Transfer (EFT), the money will be directly applied to the student account, and any excess will be refunded to the parent. Federal PLUS repayment begins immediately after it has been fully disbursed.
Applicants must complete and submit a separate online loan application or call a 1-800 number to apply for pre-approval to initiate the loan process. These loans are administered by lending institutions and are dependent on credit worthiness. Cosigners can be used to either reduce the interest rate or help obtain the loan due to credit problems. A processing fee may be deducted from the loan proceeds. These loans will be made in two disbursements.
If you are receiving a refund or need a cash advance to buy books, please contact the Business Office in McClure Hall. They can be contacted at 918-631-2208.
The PRIORITY deadline to apply for financial aid is May 1st. The priority deadline is only 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 April 15, 2009.
If you are planning on taking classes during the summer and would like to be considered for federal aid, please complete the 2009 Summer Financial Aid Application (available during the Spring 2009 semester). You must be enrolled at least half-time to be eligible for financial assistance.
Throughout the year, the Office of Student Financial Services lists employment opportunities on our website. Click here for a list of our 2009-2010 Work Study positions. In addition to on-campus jobs, a number of jobs are available in community service agencies in Tulsa. Placement referrals are not a guarantee of employment. It is the responsibility of the student to find an appropriate employment situation that works well with their current semester class schedule. Additionally, it is the responsibility of the student to work enough hours to earn the award.
Hourly wage rates for all campus student employees begin at the Federal minimum wage. A 10 to 12 hour work week is most common. Earnings are paid biweekly directly to the student. Therefore, the Federal Work-Study award cannot be credited to the student's bill at the beginning of the semester. Direct deposit of FWS earning is available. Arrangements for direct deposit should be made through the payroll office. Earnings through the Federal Work-Study program are taxable and will be reported to the IRS.
New students must attend a Work-Study session during orientation in August. You must bring a copy of your birth certificate and social security card to the Office of Human Resources in Twin Towers. At that time, new Federal Work-Study students are required to complete an I-9 and W-4 form prior to beginning their employment.
Please click here for more information concerning TU's Work Study procedures and policies for students.
Students selected for verification must complete a verification worksheet along with submitting the required 2006 federal form 1040, 1040A, 1040EZ, or Telefile. Additional documentation may also be required. If you are selected for verification and are Federal Pell eligible, you must complete verification within 60 days from the last day of enrollment or August 30, 2007, whichever is earlier. To complete verification, all tax returns and forms required on the incomplete notice letter must be received and be complete. A valid EFC (FAFSA processed and accepted) must be received before the last day of enrollment.
Students eligible for campus-based programs and Federal Stafford Loans must complete verification prior to the last day of enrollment for 2007-2008. In addition, a valid EFC must be received by TU before the last day of enrollment. Federal Stafford loan applications must be certified by the Office of Student Financial Services before the last day of enrollment to receive loan funds.
TU does not disburse awards for students who are selected for verification until the process is complete. If you have any questions concerning verification and the required documents, please contact the Office of Student Financial Services. Failing to complete verification by the deadlines will result in loss of any eligibility for Federal Aid funds.
You may be considered an Independent student if you meet at least one of the following criteria:
- Were you born before January 1, 1986?
- During the school year 2009-2010, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, or graduate certification, etc.)
- As of today, are you married? This is as of the date the FAFSA is filed.(Answer "Yes" if you are separated but not divorced.)
- Do you have children who receive more than half of their support from you between July 1, 2009 and June 30, 2010?
- Are you an orphan, or are you or were you (until age 18) a ward/dependent of the court?
- Are you a veteran of the U.S. Armed Forces?
- When you were age 13 or older, were both your parents deceased, were you in foster care or were you a dependent/ward of the court?
- As of today are you an emancipated minor as determined by a court in your state of legal residence?
- As of today are you in legal guardianship as determined by a court in our state of legal residence?
- At any time on or after July 1, 2008 did a school district homeless liaison determine that you were an unaccompanied youth who was homeless?
- At any time on or after July 1, 2008 did the director of a HUD emergency shelter program determine that you were an unaccompanied youth who was homeless?
- At any time on or after July 1, 2008 did the director of a runaway or homeless center determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?
DISBURSEMENT PROCEDURES
Unless otherwise noted, the amount(s) listed on the Award Notice are yearly awards with one-half applicable to the fall semester and one-half to the spring semester. The single exception is the Federal Work-Study Program, which is received in biweekly paychecks as earned. Since a student must earn the Work-Study award, this amount is not available for bill payment at the beginning of the semester.
Federal Pell Grants will credit the student's account no earlier than the first day of classes if the award is finalized. The Student Acknowledgment Report (SAR) is the notice received by the student from the processor of the student's application.
Oklahoma Tuition Aid Grants (OTAG) will credit the student's account, when the Office of Student Financial Services verifies enrollment, Oklahoma residency, and has received the check from the State Regents office.
Federal Supplemental Educational Opportunity Grants (FSEOG) will credit the student's account no earlier than the first day of classes if the award notification has been accepted and returned to the Office of Student Financial Services.
Federal Work-Study (FWS) is not a direct credit on the student's account. The student must secure a job and will be paid biweekly as earned. If the award is needed to help with the student's bill, a payment plan must be set up with the Business Office through FACTS. Each pay period that the student works will be compensated by a check made payable to the student.
Federal Perkins Loan are credited to the student's account once the entrance interview and signature on the master promissory note are complete. Perkins sessions will be held during orientation in August and during the first two weeks of school for the fall semester. Contact the Business Office for exact dates and times. If the master promissory note is not signed before the end of a semester, the loan will be canceled. Midyear recipients should contact the Business Office to schedule the entrance interview.
Federal Stafford Loans (subsidized and unsubsidized) are credited to the student's account once the Electronic Funds Transfer (EFT) or check(s) is received (check must be endorsed by the student). A notification will be mailed to the student's local address when funds are received. If the notification is marked that a check was received, please stop at the Business Office to endorse your check(s) immediately. Checks can be held only for 30 days before they are returned to the lender and the loan canceled. If your funds are sent by EFT, the loan will be credited to the student's account at the time the EFT is received in the Business Office. Entrance loan counseling should be completed before funds are received at TU. Failure to compete an entrance interview within 10 days of the funds being received at TU, will necessitate the funds being returned to the lender. A student has the right to cancel all or any portion of the loan within 14 days of the loan crediting the account. A lender will not disburse funding unless there is record of a MPN on file.
University Awards will credit to the student's account no earlier than the first day of classes when the award notification is accepted and returned to the Office of Student Financial Services and all required documents are received.
Other Scholarship Awards from sources outside the University will credit to the student's account no earlier than the first day of classes upon receipt of the funds. In the event that you are receiving a full-tuition scholarship from TU, we reserve the right to apply all outside scholarships first toward tuition, then we will award the difference up to full-tuition. It is necessary to report to the Office of Student Financial Services any change in circumstances, including outside scholarship awards not considered in the offer of assistance. By law, the Office of Student Financial Services must make adjustments to prevent or correct "over awards" that may result from the receipt of these outside sources of financial assistance. Adjustments will be in both gift aid (grants/scholarships) and self-help aid (work/loans). If outside aid is terminated, the Financial Aid Committee will reevaluate your financial assistance upon request.
Refunds due students as a result of financial aid funds exceeding TU charges will be processed by the Business Office. Students should have personal funds to meet necessary initial expenses such as books and supplies. Many families make funds available by establishing a checking account at a local bank.
How Student Loans Are Processed
If the student indicated on the FAFSA that they are interested in student loans, the loans are being processed through the lender at the time the award letter is mailed to the student. It is the student's responsibility to notify the Office of Student Financial Services, in writing, if they wish to reduce or cancel the student loan. You will receive a Master Promissory Note (MPN) from the lender that you selected. If you wish to change your lender, you will need to notify the Office of Student Financial Services in writing.
RETURN OF FUNDS POLICY
Students who withdraw from courses receive refunds according to the following schedules, which are calculated from the date the application for withdrawal is received by the advising office of the student's program. Nonattendance of classes does not constitute official withdrawal. Financial aid recipients withdrawing completely will have their Title IV aid returned to the proper aid accounts as determined by the Office of Student Financial Services pursuant to federal guidelines.
Withdrawal Policy
The University of Tulsa's refund policy refers to the amount owed by a student for various categories of University charges when a student withdraws, drops out, or is expelled within a given time frame within a term. The withdrawal policy may change without notice.
Students withdrawing during a term at The University of Tulsa will receive a refund based on the following calculations.
Undergraduate,
Graduate, and Law
Students Tuition,
Fees, Room and Board |
Refund |
Legal Assistant,
Legal Nursing
Students Tuition,
Fees, Room and Board |
Refund |
| Up through 1st day of classes |
100% |
Up through 1st day of classes |
100% |
| Day 2 through end of 1st week |
90% |
Day 2 through end of 1st week |
90% |
| Weeks 2 and 3 |
50% |
Weeks 2 and 3 |
50% |
| Weeks 4 through 7 |
25% |
Weeks 4 through 7 |
25% |
| Remainder of Semester |
0% |
Remainder of Semester |
0% |
Return of Title IV Funds
Students withdrawing from all classes during a semester will have their Title IV funds returned to the federal programs according to federal guidelines. The University of Tulsa will first determine the percentage of the semester the student completed. If this percentage completed is 60% or less, the return of funds calculation will be used.
If the student has completed 60% or less of the semester, The University of Tulsa will apply the calculated completed percentage to the total awarded Title IV aid for which the student established eligibility before withdrawing. This calculation will be the earned aid. The earned aid will be subtracted from the total disbursed aid to determine the amount of unearned aid to be returned to the federal Title IV funds. The University of Tulsa will return the unearned aid to the Title IV programs.
Title IV Return of Funds Distribution Policy
For all students receiving federal Title IV funds, returns are distributed back to the programs in the following order up to the full amount received from each program for the term.
Unsubsidized Federal Stafford Loan
Subsidized Federal Stafford Loan
Federal Perkins Loan
Federal Grad PLUS Loan
Federal Parent PLUS Loan
Federal Pell Grant
Federal ACG Grant
Federal SMART Grant
Federal SEOG
Sample return of funds calculations are available for review in the Office of Student Financial Services.
Satisfactory academic progress (SAP) is defined as the reasonable progression toward the successful completion of degree requirements. The Office of Student Financial Services performs a review each summer of a financial aid recipient's academic file - the number of hours successfully completed and the cumulative grade point average earned while attending The University of Tulsa. In accordance with federal regulation, the four components of The University of Tulsa policy are described below. Students who receive a probation letter for the fall semester will receive an award letter for fall only. Grades will be checked after fall 2007 and those students not meeting the requirements will not be eligible for aid for spring 2008. You should make an appointment with a financial aid counselor once you receive your grades after fall 2006 if you are on S.A.P. probation to reinstate your aid if you have met the required grade point average.
I. Satisfactory Completion of Semester Hours
Transcripts are reviewed once yearly. Each student is required to pass a minimum of 75 percent of the credit hours enrolled in during the preceding fall and spring semesters at the University (rounded to the next higher number). The number of hours required is based on the number of hours for which a student initially receives financial assistance at the beginning of each fall and spring semester (prior to the refund period). Drops and withdrawals from classes will count toward the accumulated deficient hours for a student.
II. Grade Point Average Requirement
Each student must meet a cumulative grade point average standard to remain eligible for assistance.
| Cumulative GPA |
Required |
| Undergraduate |
2.0 |
| Graduate |
3.0 |
| Law |
2.0 |
III. Deficient Hours Accumulated
To complete a degree plan in the specified number of hours allowed, a student cannot accumulate a significant number of incompletes (I), failing grades (F), withdrawals (W), or withdrawal failings (WF). Therefore, each student is allowed a maximum number of "deficiencies" in pursuit of a specific degree. Maximum number of deficient hours - Undergraduate, 40; Graduate, 15; Law, 30.
IV. Maximum Number of Hours
Each student enrolled in a degree program is eligible for financial assistance for a maximum number of hours specific to the completion of the degree. Maximum hours allowed to complete - Undergraduate, 180; Graduate Master's level, 45; Ph.D. level, 90; Law, 135.
Suspension Action and Appeal Process
Students not meeting the hour and GPA requirements (components I and II) are automatically placed on a one-semester financial aid probation. Students may be placed on financial aid probation only once during their academic career at TU. A student who is denied assistance based on the satisfactory academic progress policy may submit a written appeal to the Office of Student Financial Services. The appeal should address mitigating extenuating circumstances that have affected the student's academic performance (e.g., severe physical injury or death of immediate family member). The appeal and any supporting documentation must be received within 10 days of the date of the suspension notification letter. Action taken on a financial aid appeal is final. Written notification is sent to the student within two weeks of the receipt of the appeal by the Office of Student Financial Services. Students whose appeals are approved will receive a one-time waiver of the requirements, will be placed on financial aid probation, and will be given the ensuing semester to make up deficiencies and meet the necessary satisfactory academic progress requirements.
Special Circumstances
Summer Course Work - Summer credits earned either at TU or transferable from another institution into the student's program may be used to meet the credit hours earned requirement. Grades do not transfer. Students are allowed to enroll at TU for summer courses to make up their deficiency.
Transfer Students - Students transferring into TU will have final transcripts from prior colleges and universities evaluated by their academic advisor for credits that are accepted into the student's bachelor degree program. Approved credits will transfer into TU, but grades from those credits do not transfer. All transfer students begin with a 0.00 GPA.
Legal Assistant/Legal Nursing Programs - The Legal Assistant Program is a graduate level certificate program requiring 390 clock hours of instruction. Because the program does not have semesters, satisfactory progress will be determined prior to the disbursement of the second Federal Aid funds. To receive the second disbursement, students must have successfully completed 195 clock hours of instruction as certified by the director of the legal assistant program. The Legal Nursing Program is a graduate level certified program requiring 347 hours of instruction. Because the program does not have semesters, satisfactory progress will be determined prior to releasing the second disbursement. To receive the second disbursement, students must have successfully completed 174 clock hours of instruction as certified by the director of the legal nursing program.
The University of Tulsa
2007-2008 Federal Work-Study Program
Policies and Procedures for Students
The Federal Work-Study Procedure for Securing a Campus Job
1. You receive an award letter from Student Financial Services indicating how much money you can earn. Work-study eligibility can also be viewed on Web Advisor. Your supervisor will want to confirm your eligibility for work-study by viewing your aid on Web Advisor or by looking at your award letter.
2. To view job postings Click Here The job list will be updated daily.
3. You contact the department for an interview and to complete employment paperwork. You cannot begin work until all Payroll and Student Financial Services paperwork is completed. The supervisor will have the required paperwork for the Office of Student Financial Services.
What is Federal Work-Study?
Federal Work-Study (FWS) is a program funded with federal dollars and matched with funds provided by the University. It is an aid program designed to offer part-time employment to students so earnings are available to help meet educational expenses.
Student Eligibility Requirements
You must have financial need to be eligible to participate in the FWS program. Need is determined by the Office of Student Financial Services based on the results of the student’s Free Application for Federal Student Aid (FAFSA). Students who qualify for the FWS program will be sent an award letter indicating the amount of money they are eligible to earn.
Expectations
- You must work to earn the money they are eligible to receive.
- You are not paid to study.
- You are only eligible to work in one department.
Student Wages
Undergraduate students are paid FWS wages on an hourly basis only. Graduate students may be paid by the hour or may be paid a salary. Students are paid bi-weekly. Payday dates are listed at www.utulsa.edu/personnel/payroll.
Time Sheets
Due to federal regulations, you cannot be paid to work during your scheduled classes. Therefore, if your class is canceled on a particular day and you work during the scheduled class time, the instructor will need to provide a note stating the class was canceled on that date. This note will need to be attached to the timesheet.
Payroll’s Required Documentation
Students, who have not previously worked at TU, must also complete an I-9 and W-4 form. These forms must be on file with the Payroll department, Personnel Services, Twin Towers, before students begin work. Forms may be obtained at www.utulsa.edu/personnel/payroll. FWS earnings are taxable and will be reported to the federal government as such. Students must choose either Direct Deposit to a bank/credit union account, or deposit of funds into a TU E-Funds Card. We highly encourage direct deposit. Instructions and enrollment forms are located at www.utulsa.edu/personnel/payroll.
Determining How Many Hours to Work
You can determine the average number of hours to work per week by dividing the amount they are eligible to earn by the hourly rate of pay and then dividing by 15 weeks for the semester. For example, an award of $1545 per semester with a rate of pay of $6.50 would be $1545 divided by $6.50 = $237.69 divided by 15 weeks = 15 hours per week.
Community Service Requirement
The university is required to spend at least 7% of its FWS funding on community service positions. The Office of University and Community Service places students off campus in community service positions. Please consider working in these positions for us to keep our funding and more importantly to help the community.