The types and amounts of aid awarded are determined by financial need, available funds, student classification, and academic performance.
Grants
Unlike student loans, grants typically do not have to be repaid. Grants are funds that students with certain types of financial need may qualify to receive to help pay for educational expenses.
- Federal PELL Grant
- Federal SEOG
- OTAG
- BIA
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.
The U.S. Congress has established a lifetime limit on the amount of Pell Grants a student may receive. This limit applies to all Pell Grant recipients, including existing students who have received Pell Grants in the past. The Pell Grant lifetime limit is 600%.
Each academic year represents 100%, so a student may receive a full time Pell Grant for 12 semesters or 6 years as a full-time student. The table below provides an example. Number of financial aid eligible credits enrolled (% of annual Pell):
| Fall | Spring | Summer | % Pell |
|---|---|---|---|
| 12 (50%) | 13 (50%) | 0 | 100% |
| 6 (25%) | 7 (25%) | 0 | 50% |
| 12 (50%) | 8 (25%) | 6 (25%) | 100% |
| 6 (25%) | 7 (25%) | 8 (25%) | 75% |
| 9 (37.5%) | 9 (37.5%) | 0 | 75% |
| 9 (37.5%) | 9 (37.5%) | 6 (25%) | 100% |
| Total: 500% |
Total Pell after 6 years: 500% Student has remaining Pell eligibility for future semesters - 500% of 600% used.
The Federal Supplemental Educational Opportunity Grant is designed to provide additional assistance to students. To be eligible, a student must complete the FAFSA, have the lowest EFC possible and be enrolled at least part time. Funding for the SEOG grant is limited and awarded to early applicants.
Oklahoma Tuition Aid Grant is a state sponsored program designed to help pay tuition costs. To be eligible, a student must be enrolled in at least six hours and be a resident of Oklahoma. Application is made by completing the FAFSA by the published deadline date.
This grant is made available to Native American students with a Certificate of Degree of Indian Blood (CDIB) card. Applicants are required by the BIA to submit a FAFSA. Students must apply for this particular grant their respective tribe.
Federal Work Study
Federal Work-Study is a federally funded program that enables students to earn money for college costs through part-time employment. The federal government pays a portion of the students’ wages and the employer pays the balance. The program provides an opportunity for students to secure academic or career-oriented employment while providing essential to the University and the community. Federal Work-Study is awarded based upon financial need.
- What kinds of work-study jobs are available?
- Where do I get information about available work-study positions?
- How many hours can I work?
- How will I be paid and how much can I earn?
- Are work-study earnings taxable?
- Can I hold more than one work-study job at the same time?
- What if I drop below full-time enrollment (12 units for undergraduates)?
- How do I apply for work-study?
- If I decide not to participate in the work-study program this year, will it affect my eligibility for the program next year?
Work-study jobs are available on-campus in areas such as academic departments, libraries, administrative offices, and laboratories. Work-study positions are also available with off-campus non-profit organizations, community based organizations, and government agencies.
Information about work-study positions can be found from Suzanne Perry in the Administrative Services Center, Room 124.
You may work up to 20 hours per week while classes are in session. To determine your total eligible hours for the entire academic year, divide the award amount by the hourly pay rate (i.e. $1,450 work-study eligibility divided by the per hour pay rate is equal to hours of eligibility).
You will be paid on the 15th of each month. The work-study award listed on your award letter form represents the maximum amount you may earn (federal/employer contributions combined) under the work-study program during the academic year.
Work-study earnings are considered taxable income. However there are several factors determining the amount of your withholdings, including the amount earned, marital status, and allowances claimed. Depending on how you complete your W-4 form (a document included with your employment paperwork) you may be able to opt for exemption from withholding.
You may hold only one work-study job at a time. Therefore, you should select a job that provides enough hours to earn the total amount of your award.
Work-study requires that you be enrolled at least half-time (six units for undergraduates) to maintain your eligibility. Your financial aid may be affected by dropping below full-time status. Therefore, you should consult the Office of Financial Aid before dropping below full-time status.
To be considered for work-study, you must complete the Free Application for Federal Student Aid (FAFSA) and meet all the deadlines for supporting documentation. Once the RSU Financial Aid Office receives your FAFSA information, you will be evaluated for financial need and a financial aid package will be determined. This package may include Federal Work-Study.
No. Eligibility for the program is based solely on your demonstrated financial need. Each year, your eligibility for all financial assistance (including work-study) is determined independently from any prior period. Please note that you must file the Free Application for Federal Student Aid (FAFSA) each year.
Loans
Loans are funds that must be repaid with interest, usually after the student leaves college. Students must meet eligibility requirements to qualify for federal student loans. Student loans are a serious financial obligation, and we encourage you to be very careful with your student loan borrowing. It is easy to incur a large student loan debt through these loan programs that will impact your financial future for years to come. For more detailed information regarding loans please visit studentloans.gov.
- Federal Direct Loans
- Private Loans
- Student Loan Code of Conduct
- Annual Loan Limits
- • Direct Subsidized Loan
- • Direct Unsubsidized Loan
- • Direct Parent Plus Loan
- • Direct Graduate Plus Loan
The Subsidized Loan provides a way for you to borrow money from the government to help finance a college education. This loan can be used for educationally-related costs, such as, tuition, fees, housing/meals and books. The government pays the interest on the loan while you are enrolled in school at least half-time.
Eligibility:
- Must file the FAFSA
- Based on financial need
- Must be at least half-time (6+ hours each semester)
- Eligibility must be determined and loan originated before the end of the academic period for which the loan is being requested.
First-time borrower?
- You will complete a Master Promissory Note (MPN), which is retained and updated by the loan servicer throughout your education at RSU.
- You must also complete a one-time Loan Entrance Counseling Session, which includes borrower rights and responsibilities,prior to the first loan disbursement.
- You must complete an Annual Student Loan Acknowledgement for Federal Student Loans each award year before loans can be disbursed to your RSU account.
- You will list RSU as the school for the Master Promissory Note and Entrance Counseling to be sent to, and we will automatically receive notification of these within several business days after you have completed them.
Direct student loans are low-interest loans for students and parents to help pay for the cost of a college education. The lender is the U.S. Department of Education although you will deal with a private loan servicer on most matters related to your loan.
Federal regulations require student loans to be paid in two equal installments. If you have a loan for the entire academic year you will receive half the amount in the fall and half in the spring. If your loan is for one semester only, you will receive two disbursements, one at the beginning of the semester and one mid semester. All first time freshman level loan borrowers have a required 30 day waiting period from the day classes begin before their loans can be disbursed.
All federal student loans are reported to and tracked through the National Student Loan Data System (NSLDS). NSLDS records are accessible to all authorized users including students, schools, student loan guaranty agencies, lenders, federal agencies and other authorized users. Students and parents may view and keep track of their federal loan debt by logging into the StudentAid.gov website with their individual FSA ID and password.
The Unsubsidized Loan provides a way for you to borrow money from the government to help finance a college education. This loan can be used for educationally-related costs, such as, tuition, fees, housing/meals and books. As the borrower, you are responsible for the interest on the loan while in school, but payment can be deferred.
Eligibility:
- Must file the FAFSA
- Not based on financial need
- Must be at least half-time
- Undergraduates: 6+ hours each semester
- Graduate: 5+ hours
- Eligibility must be determined and loan originated before the end of the academic period for which the loan is being requested.
First-time borrower?
- You will complete a Master Promissory Note (MPN), which is retained and updated by the loan servicer throughout your education at RSU.
- You must also complete a one-time Loan Entrance Counseling Session, which includes borrower rights and responsibilities,prior to the first loan disbursement.
-
You must complete an Annual Student Loan Acknowledgement for Federal Student Loans each award year before loans can be disbursed to your RSU account.You will list RSU as the school for the Master Promissory Note and Entrance Counseling to be sent to, and we will automatically receive notification of these within several business days after you have completed them.
The interest rate is set annually by federal law. These loans come directly from the federal government. The federal government does not pay the interest on unsubsidized loans while you are still in school, and repayment begins six months after you graduate, leave school or drop below half-time enrollment.
Direct student loans are low-interest loans for students and parents to help pay for the cost of a college education. The lender is the U.S. Department of Education although you will deal with a private loan servicer on most matters related to your loan.
Federal regulations require student loans to be paid in two equal installments. If you have a loan for the entire academic year you will receive half the amount in the fall and half in the spring. If your loan is for one semester only, you will receive two disbursements, one at the beginning of the semester and one mid semester. All first time freshman level loan borrowers have a required 30 day waiting period from the day classes begin before their loans can be disbursed.
All federal student loans are reported to and tracked through the National Student Loan Data System (NSLDS). NSLDS records are accessible to all authorized users including students, schools, student loan guaranty agencies, lenders, federal agencies and other authorized users. Students and parents may view and keep track of their federal loan debt by logging into the StudentAid.gov website with their individual FSA ID and password.
Parents with good credit can use the Federal Direct Parent PLUS Loan Program to help pay for educationally-related costs, including, but not limited to, general enrollment fees, tuition, room/board, books, and miscellaneous personal expenses. Eligibility in this program is not contingent upon financial need. As the parent, you are responsible for the interest on the loan while your student is in school, but payment can be deferred.
Eligibility:
- Must file the FAFSA
- Not based on financial need
- After the FAFSA has been completed and aid determined, the parent can apply for the Parent PLUS Loan.
- You must complete the application, master promissory note AND plus credit counseling.
- Your student must be at least half-time
- Eligibility must be determined and loan originated before the end of the academic period for which the loan is being requested.
Apply
- Your student can’t accept a Parent Loan for their parents on their portal.
- You (the parent borrower) should complete the Parent PLUS Application. You will need your Federal Student Aid ID (same one used to sign your student's FAFSA) to log in to the website to apply.
- New Parent PLUS borrowers also need to complete a Parent PLUS Loan Master Promissory Note (MPN). After you submit the Parent PLUS application, you can complete this step at the same website.
- If the parent is borrowing through the Parent Loan program for more than one student, a separate MPN will be completed for each student.
Denied?
- You can still borrow if someone agrees to endorse the loan (promises to repay the loan if you fail to do so) or if you successfully appeal the decision by documenting extenuating circumstances. This process is handled between you and the federal government's loan servicer at studentloans.gov.
- In either situation above, you must complete PLUS Counseling before the loan can be disbursed.
- Another option is for the student to instead request an additional Unsubsidized Loan, which is a limited amount based on the student’s class level and eligibility within his/her cost of attendance. Your student can make this request in our office.
Graduate/Professional students with good credit can use the Federal Direct Graduate PLUS Loan Program to help pay for educationally-related costs, including, but not limited to, general enrollment fees, tuition, room/board, books, and miscellaneous personal expenses. Eligibility in this program is not contingent upon financial need. You are responsible for the interest on the loan while you are in school, but payment can be deferred.
Eligibility:
- Must file the FAFSA.
- Not based on financial need.
- After the FAFSA has been completed and aid determined, you can apply for the Grad PLUS Loan.
- You must complete the application, master promissory note AND plus credit counseling.
- Must be enrolled in 6 credit hours per semester.
- Eligibility must be determined and loan originated before the end of the academic period for which the loan is being requested.
Apply
- You can’t accept a Graduate Plus Loan on your portal.
- You should complete the Graduate Plus Application. You will need your Federal Student Aid PIN (same one used to sign your student's FAFSA) to log in to the website to apply.
- New Graduate Plus borrowers also need to complete a Graduate PLUS Loan Master Promissory Note (MPN) and Entrance Counseling. After you submit the Graduate PLUS application, you can complete this step at the same website.
-
If approved, you must complete an Annual Student Loan Acknowledgement for Federal Student Loans each award year before loans can be disbursed to the your RSU account.
Denied?
- You may still borrow if someone agrees to endorse the loan (promises to repay the loan if you fail to do so) or if you successfully appeal the decision by documenting extenuating circumstances.
- This process is handled between you and the federal government's loan servicer at studentloans.gov.
- In either situation above, you must complete PLUS Counseling, available online at studentaid.gov before the loan can be disbursed. This counseling requirement is separate from the Entrance Counseling requirement.
- If you have an endorser or successfully appealed the credit decision, you must complete both the PLUS Counseling and the Entrance Counseling prior to disbursement of the loan.
Alternative and private eucation loans are offered by private lenders and may be less favorable than those of Title IV federal student loans offered through the Direct Loan Program. You should first determine if you qualify for loans or other aid, such as state and federal grants before seeking a private loan. Private loans are credit-based which means a lender may grant a loan, but the interest rates and fees may be higher if the borrower does not meet the lender’s credit requirements.
Sometimes lenders require a cosigner on a loan; in some cases, the presence of a creditworthy cosigner may keep interest and fees at lower levels.
A borrower may be denied by one lender and approved by another because of the different ways they interpret borrower financial information.
While we do not recommend specific private lenders we do provide access to a list of lenders who offer this service for students to evaluate. We recommend you research your options with different lenders and fully understand the terms and conditions of your loan before selecting a lender. You are not required to choose a lender from the list we provide and you can obtain a loan from any private lender you prefer.
Federal regulations require us to disclose certain information from the Truth in Lending Act (pdf).
In August, 2008, Congress enacted and the President signed into law the Higher Education Opportunity Act (HEOA), reauthorizing the Higher Education Act of 1965, as amended. Among its many provisions, the HEOA requires every institution participating in federal financial aid programs to adopt a code of conduct and display it prominently on its website.
In addition to the requirements of the HEOA, as members of the National Association of Student Financial Aid Administrators (NASFAA), Rogers State University financial aid personnel also adhere to the NASFAA Statement of Ethical Principles and Code of Conduct which contains principles specific to the financial aid profession. Consistent with the requirements of the HEOA and the NASFAA Statement, Rogers State University has adopted this Student Loan Code of Conduct (pdf) for financial aid professionals.
Federal regulations place annual and aggregate (lifetime) limits on the amount you can borrow. These limits include Federal Stafford Loans borrowed at other schools you have attended. The total amount borrowed in all programs combined (including Parent Loans) can't exceed your annual costs as determined by RSU, minus any other aid you will receive.
You can view the total amount of federal loans you have borrowed on the StudentAid.gov website.
Undergraduate:
| Classification | Subsidized | Unsubsidized |
|---|---|---|
| Freshman | $3,500 | $2000 – dependent students* $6,000 – independent students |
| Sophomore | $4,500 | $2,000 – dependent students* $6,000 – independent students |
| Junior/Senior | $5,500 | $2,000 – dependent students* $7,000 – independent students |
*Undergraduate dependent students whose parents are denied a Parent Plus Loan may be eligible for the independent undergraduate loan limits.
Graduate: $20,500
Aggregate (lifetime) Loan Limits
| Classification | Subsidized Limit | Overall Limit |
|---|---|---|
| Dependent undergraduate | $23,000 | $31,000 |
| Independent Undergraduate | $23,000 | $57,500 |
| Graduate* | $65,000 | $138,500 |
*Graduate limit includes both undergraduate subsidized and unsubsidized loans.
To apply for a federal student loan complete the Free Application for Federal Student Aid (FAFSA) and apply for admission to Rogers State University. After you have been awarded, you will receive an award letter with instructions to accept your awards, complete entrance counseling and sign a Master Promissory Note for any loans you choose to accept.
Loans are disbursed directly to the University and applied to your account. Any remaining balance after all your charges have been paid will be refunded back to you. Loan amounts vary based on grade level, financial need, and other types of aid received. For additional information on loan limits, rates and eligibility view the current federal loan fact sheet.
Students must complete an Exit Counseling session once they graduate, fall below half-time status, or sit out of school for a period longer than six months.
Summer Aid Eligibility
Meet the following requirements by May 20 for priority processing and timely disbursement of funds.
- Have a FAFSA on file for the current aid year
- Be enrolled at least half-time for the summer term*
- Maintain Satisfactory Academic Progress
- Submit any missing information
| Aid Type | Availability for Summer |
|---|---|
| Pell Grant |
You should be eligible if you meet the following requirements:
|
| Oklahoma’s Promise |
You should be eligible if you meet the following requirements:
|
| Direct Subsidized and Unsubsidized Loans | You will be offered any remaining eligibility if you did not meet your annual limit during the fall and spring terms. |
| PLUS Loan | Requires a separate application. |
| Private Loan | Requires a separate application. Ask us about private lenders. |
| Federal Work Study | Varies, depending on funds available. |
| SEOG | No funds available. |
| Tuition Waivers | Out of state waiver if enrolled in one on-ground class. Academic tuition waivers are not available. |
| Private Scholarships | Some private scholarship providers will award summer aid. Check with the source of your private scholarship to determine eligibility. |
| RSU Endowments | No funds available. |
*Oklahoma’s Promise and some private loans do not require half-time enrollment.
Veterans Educational Benefits
The Rogers State University Veterans Affairs Office offers assistance and information on available programs, applications for benefits, admissions, eligibility, enrollments, and academic goals. Programs at Rogers State University are approved for the use of VA education benefits through the Oklahoma Department of Veterans Affairs State Approving Agency. Rogers State University is compliant with PL 115-407.
Certain veterans, service personnel, plus eligible dependents or survivors qualify for federally enacted education benefits. The Veterans Administration (VA) administers several basic programs for veterans and service persons seeking assistance for education:
Post-9/11 GI Bill® (Chapter 33): This is the most comprehensive education benefit package since the original GI Bill® was signed into law in 1944. The maximum benefit provides the cost of tuition and fees; a monthly housing allowance equal to the basic allowance for housing payable to an E-5 with dependents in the same zip code as the school; and an annual books and supplies stipend of up to $1,000 per year.
Montgomery GI Bill® (Chapter 30): The Montgomery GI Bill® is an education program under Chapter 30 and is focused toward two categories of individuals. A provision of the Chapter 30 program allows persons to serve shorter periods of active duty if they subsequently serve in the Selected Reserves. These include reserve components of the Army, Navy, Air Force, Marine Corps, and Coast Guard Reserve, and the Army and Air National Guard.
- Category 1: Persons in this category first entered or became members of the Armed Forces at any time during the three year period beginning July 1, 1985, through June 30, 1988. They must have their pay reduced by $100 each month for the first 12 months of their active duty service.
- Category 2: Persons in this category have Chapter 34 eligibility, have been on active duty continuously since December 31, 1976, and continue on active duty beyond July 1, 1985.
Montgomery GI Bill® For Reservist (Chapter 1606 or 1607): An educational entitlement program that is available to members of the Selected Reserve, including the National Guard. Those who will have six years service in the reserves after June 30, 1985, may qualify.
Chapter 31 Program: The VA provides assistance to disabled veterans through the Vocational-Rehab Department and certain dependents.
Chapter 35 Program: The VA provides assistance to the spouse of 100% totally and permanently disabled veteran; the spouse of a deceased-veteran (service connected); the spouse of deceased 100% totally and permanently disabled veteran; or children of a, b, or c veteran.
Veterans must provide a copy of their DD-214 (member 4) and reservists must provide a copy of their Notice of Basic Eligibility (NOBE), from their reserve or National Guard unit.
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at https://www.benefits.va.gov/gibill.
Additional Resources:
The Veteran’s Administration website has a wealth of information about the various programs and services offered by the VA.
- www.gibill.va.gov or at 1-888-442-4551
- Muskogee Processing Office