It’s Time to Fill Out the FAFSA for Fall 2021

November 12, 2020

The Free Application for Federal Student Aid (FAFSA) opens every fall on Oct. 1 for students to complete as they prepare for the next academic year. Colleges and universities use the FAFSA to calculate financial aid packages for students, including scholarships and grants. For this reason, all students should complete the FAFSA, not just those seeking federal loans.

OBU likewise uses the FAFSA to calculate and send students a no-obligation financial aid package. This package shows students and their families what the actual cost of attendance will be, also known as the “net price,” after university scholarships, grants and other sources of funding are calculated. This is especially critical for private universities like OBU, as the University prides itself in its affordability for a world-class, private, Christian university education. In fact, OBU awards approximately $29 million in scholarships each year to make that affordability a reality.

OBU is therefore encouraging all high school seniors and parents to complete the FAFSA now and submit their results to OBU using the code 003164. Completing the FAFSA is free, fully online and takes less than 30 minutes. The FAFSA must be completed before the university can inform the student about the full amount of financial aid they will be awarded. Not filling out the FAFSA can deprive students and their parents of valuable resources that could help them fund their education.

All first-time freshmen will receive a guaranteed minimum $9,000 annual scholarship, totaling $36,000 over four years, with most receiving more based on their high school GPA. First-time freshmen will receive between $9,000 and $14,000 annually based on their GPA, with some competing for full tuition scholarships. Transfer students will receive between $7,000 and $11,000 per year in scholarships based on their transfer GPA. Students will likely qualify for additional aid; however, the University must first receive their FAFSA in order to show them the full financial aid package.

Sometimes, students and parents fail to fill out the FAFSA due to lack of knowledge about the true price of attending a quality university such as OBU. Whatever the family income, once the FAFSA is completed, families are often pleasantly surprised with the amount of aid they can receive. By completing the FAFSA, along with the minimum financial award for new students, a top-rated school like OBU can easily be affordable for students from all financial backgrounds.

OBU offers an affordable, world-class education at a lower net price than many of its peer institutions, as well as the state’s flagship university. Data from the U.S. Department of Education’s College Scorecard website lists the average net price to attend OBU at $18,173. The average net price to attend the University of Oklahoma in Norman, for comparison, is $20,780, while Oral Roberts University in Tulsa is $21,557. Oklahoma Wesleyan comes in at $26,279, while Oklahoma City University’s net price is $25,024. Oklahoma Christian University is also more expensive with a net price of $19,791, and the net price at the University of Tulsa is $22,817. OBU beats most colleges in the state with a low net price while delivering a highly ranked, world-class Christian education.

The OBU Student Financial Services team is committed to helping students and their families navigate the financial aid process as they invest in their student’s future. Contact a Student Financial Services counselor.