Skip Navigation

Financial Aid Myths & Facts

Skip Side Navigation

Financial Aid Myths & Facts

Fact: There is no income cutoff to qualify for federal student aid. We encourage students to apply regardless of income. 

Fact: In 2013, $240 million was awarded in financial aid from a combination of scholarships, work-study, grants, loans and tuition waivers. On average, students who file their FAFSA and demonstrate a financial need receive $10,560 in financial aid. 

Fact: 75% of OU students who apply for financial aid and demonstrate a need, receive it. 

Fact: Financial aid is awarded three ways:

1. Grants – Usually based on financial need and does not have to be repaid.

2. Work Study – On-campus job to earn money while you are in school.

3. Loans – Must be repaid with interest.

You do not have to accept the whole amount (or any) of the money offered. 

Fact: Students who receive Oklahoma’s Promise may be eligible for Crimson Commitment, a 4-year funding commitment of $8,000 for the award year(s) that you maintain eligibility.

Fact: OU provides a helping hand to middle-income families with the Sooner Heritage Scholarship, awarding 2,700 scholarships per year ranging from $700 to $1,200. 

Fact: While in high school, your grades are not a factor in qualifying for federal aid, however, once in college, you will have to maintain a certain GPA to continue receiving aid. 

Fact: Just because a parent is receiving financial aid it does not mean you are ineligible. Both a parent and child can receive financial aid at the same time. 

Fact: OU offers free one-on-one counseling sessions to students and their family, campus based workshops and resources needed to graduate with as little debt as possible. You are even assigned your very own financial aid counselor who can answer all your questions. 

Fact: OU has increased the financial aid and scholarship budget to help students who demonstrate a need. Additionally, full time undergraduate students enrolling in 12 or more credit hours during the fall and spring semester can take advantage of a flat rate tuition and mandatory fees program. The program encourages students to complete a total of 15 credit hours per semester, helping the student stay on track to graduate in four years, thereby saving an additional year’s tuition and mandatory fees.

Fact: OU offers flat rate tuition. You pay the annual tuition and can take up to 21 credit hours, helping you stay on track to graduate in four years and allows you to take additional classes for a minor without paying additional tuition.