Financial Aid Consumer Information

Students are required to file the FAFSA each year they would like to receive financial aid. The FAFSA is the only form required for all federal, state and institutional financial aid at Ohio Dominican University. 

Aid from most sources is based on financial need. When you apply for student aid, the information you report on the FAFSA is used to calculate your Student Aid Index (SAI). The formula used to calculate your SAI is established by law and issued to measure your family's financial strength based on their income and assets. The SAI is used in the following equation to determine your financial need: 

Cost of Attendance - Student Aid Index = Financial Need 

Cost of Attendance (COA) is based on a yearly figure. The COA includes tuition and fees, on-campus room and board (or a housing and food allowance for off-campus students), and allowances for books, supplies, transportation, loan fees and miscellaneous expenses. 

Most financial aid is awarded first come, first served so filing the FAFSA as soon as possible after October 1 is to your advantage. Upon receipt of your FAFSA results, the Financial Aid Office will put together your financial aid package. The package will consist of all aid programs and dollar amounts - federal, state and institutional - that you are eligible to receive for the academic year. 

Federal Pell Grant

Eligibility is determined by the federal government and does not have to be repaid. The federal government uses a standard formula to evaluate the information provided on the FAFSA which produces an SAI or Student Aid Index. The SAI is then used to determine if you are eligible for a Pell Grant and for how much. Pell Grants are awarded only to undergraduate students who have not earned a bachelor's or professional degree and are awarded to full, half and less than half time students. Pell Grants are the foundation of financial aid, to which aid from other federal and non-federal sources might be added.

Pell Grants must sometimes be recalculated due to a change in enrollment. A Pell Grant is recalculated for adds and drops prior to the Pell Recalculation Date (PRD). Adds and drops on or after the PRD will not result in changes to the Pell Grant. The PRD will be established as the day following the last day to add full semester courses as outlined each semester according to the university academic calendar. 

Federal Supplemental Educational Opportunity 

The Federal Supplemental Educational Opportunity (FSEOG) is for undergraduates with exceptional financial need - that is, students with the lowest SAI - and gives priority to students who receive Federal Pell Grants. FSEOG does not have to be paid back. There is no guarantee every eligible student will be able to receive an FSEOG. Students will be awarded these funds based on availability.

ODU Grant

ODU grants are awarded to many full-time, undergraduate students who demonstrate financial need.

Ohio College Opportunity Grant

Eligibility for this state grant is determined by the SAI obtained by completing the FAFSA. Both full-time and part-time students may be eligible and you must be an Ohio resident.

Federal Work-Study 

Federal Work-Study (FWS) provides for students with financial need the opportunity to work on campus, allowing them to earn money to help pay educational expenses. Students earn at least the current federal minimum wage and are paid bi-weekly. FWS is not credited to the student's account. Income earned through the FWS Program is not exempt from federal or state taxes; therefore, each student must complete the appropriate documentation in The Human Resources Department prior to working on campus.

Educational loans must be repaid. Students must complete a loan agreement (promissory note) for all the different loan programs they participate in.

Direct Subsized & Unsubsidized Loans

There are two types of Federal Direct Stafford Loans, subsidized and unsubsidized. Interest on the subsidized loan begins six months after you leave school. Interest on the unsubsidized loan starts as soon as the funds are disbursed. Repayment begins when your grace period ends, six months after your departure from school.

Prior to receiving any Stafford loan funds, all first time borrowers are required to complete  entrance counseling and a Master Promissory Note (MPN).

Federal PLUS Loan

The Federal PLUS Loan is a loan your parents can take out for your educational expenses if you are a dependent undergraduate student enrolled at least half-time. Parents must pass a credit check in order to borrow under the PLUS Loan program. Yearly limits on the PLUS Loan are equal to the Cost of Attendance minus all other financial aid. 

Additional information on all federal need based financial aid can be found at  www.studentaid.gov 

 

ODU Scholarships

These scholarships are awarded to potential new students based on their self reported high school GPA and ACT/ SAT test scores. The award is contingent upon your application and acceptance to Ohio Dominican. Filing the FAFSA is not required but you are encouraged to do so to determine your eligibility for additional need based financial aid. Scholarships and Awards range from $12,000 to $21,000 and are renewable each year.

Read more about ODU scholarships.

Athletic Grants

Athletic grants are awarded to student athletes based on audition and coach's recommendation. Amounts vary. Additional information is available from ODU's Athletic Department.

Band & Choir Grants

Band and choir grants are awarded to students based on audition and recommendations. Amounts vary. Additional information is available from the Band or Choir department.

Federal TEACH Grant**

The TEACH Grant program provides up to $4,000 a year in grant assistance to an undergraduate or graduate student in an eligible program who agrees to serve for at least 4 years as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves students from low-income families. A TEACH Grant recipient who does not complete their required teaching within a specified time frame or fails to meet certain other requirements of the TEACH Grant program will be required to repay the TEACH Grant as a direct unsubsidized loan under the William D. Ford Federal Direct Loan Program.

For more information visit the TEACH Grant program website at www.teachgrant.ed.gov.

** Students will be asked to submit an application and certification of their teaching intentions. ODU will make the final determination of TEACH Grant recipients.

Outside Scholarships

Scholarships from local high schools, fraternal organizations, parents place of employment, etc. Do not pay someone to help you find scholarships. Scholarship searches are free and accessible to everyone.  

Read more about outside scholarships.

 

Prior to each semester, the Business Office will send out a billing statement. The statement will contain all of your charges (tuition, fees, room/board if a resident student) for that semester only.

The total financial aid you received in your financial aid package for that semester, excluding Work-Study, will be credited to your account. The difference between the charges listed on the statement and the financial aid is the balance due for the semester. 

The balance due date is stated on the billing statement and can be paid in full or monthly through the University's payment plan. Students who are eligible for a credit refund will be able to receive their refund after the start of classes.

Any student who withdraws* from Ohio Dominican University prior to completing 60% of the enrollment period or semester will have their financial aid eligibility recalculated based on the percentage of the period they were enrolled.

Once a student has completed 60% of the period or semester, all financial aid assistance is considered to be 100% earned. This policy meets federal requirements in which students “earn” financial aid based on the percent of the term completed.

Ohio Dominican University maintains one refund policy for all federal, state and institutional aid funds based on 34 CFR, Section 668.22 of the Title IV Higher Education Act of 1965, as amended.

The Financial Aid Office is responsible for calculating the percentage of “earned aid” for the semester and for returning the “unearned aid” portion to federal, state and institutional aid programs. The Financial Aid Office will perform this calculation within 30 days of the student’s withdraw date.*

This calculation is measured by dividing the number of days the student attended by the total number of days in the period or semester. The length of the period or semester is based on Ohio Dominican’s published academic calendar, including weekends and excluding scheduled breaks of 5 days or more.

The first day begins on the first day of classes and ends on the last day of final exams.

Example:  If there are 114 days in the semester and a student withdraws on day 20, the charges and financial aid will be pro-rated as they attended 17.5% of the semester (20/114).

If a student is a recipient of Federal Title IV aid, those funds returned to those programs are required by federal law to be returned first, in the following order: Unsubsidized Federal Stafford Loan, Subsidized Federal Stafford Loan, Federal PLUS (Parent) Loan, Federal Pell Grant, Federal SEOG Grant and Federal TEACH Grant.

If a student is a recipient of Institutional or State aid, those funds will be prorated based on the percentage of the semester that the student completed.  Institutional charges will also be prorated if a student withdraws before 60% of the semester has been completed.

In some cases, after the recalculation is complete, a student may be required to repay some of the Title IV aid they received. Or, in some cases, a student may be eligible for a late disbursement of awarded aid if the amount of aid received is less than the amount of aid earned. In these cases, the student will be notified by the Financial Aid Office.

If after these calculations are completed, the student is entitled to a refund, the Business Office will refund that amount to the student.  If the student owes a balance, the Business Office will bill the student directly.

*To officially withdraw, a student must contact the Registrar’s Office. The Registrar’s Office will determine the official date of withdraw based on the date that a student notifies them of their intent to withdraw or last day of academically related activity. If a student ceases attendance without notifying the Registrar’s Office, the date of withdraw will be set as the last day of academically related activity, if known. If unknown, the date of withdraw will be set as the midpoint of the semester.

**Note: Provisions explained in this policy are subject to final interpretation of the Return of Title IV Funds regulations governing Federal financial aid.  Questions on this Refund Policy should be directed to the Financial Aid Office, Erskine Hall 147, or by calling (614) 251-4778.

For Cost of Attendance information for the current school year, click here.

Financial aid from Federal, State and Institutional resources may be considered for Study Abroad programs. Students enrolled in an academic program which includes a formal study abroad program may be considered for aid to cover "reasonable costs" associated with the program. 

Reasonable costs are define as tuition, housing, food, books and supplies, transportation, air fare, passport fees, program fees, and any other miscellaneous expenses. Documentation must be submitted to the Financial Aid Office on the above reasonable costs to determine your eligibility for financial aid. 

Students are required to complete the financial aid process just as if they were attending Ohio Dominican University (i.e. filing the FAFSA, etc.).

Frequently Asked Questions

Can I use my financial aid to study abroad? 

For semester-long study abroad trips, students may apply most of their financial aid to an approved study abroad program. All federal and state aid may be used for any program-related costs in which the university awards college level credit. Students are not eligible to receive institutional aid (ODU Merit Scholarship, ODU Grants, and ODU endowed scholarships, etc.) for their study abroad experience. You will be responsible for paying the program fee and any other applicable fees to the study abroad organization.

For short-term trips (such as summer programs or faculty-led trips), you should consult with the Financial Aid Office to research your options before the trip. It may be possible to borrow loan programs if you are earning 6 or more credits for the short-term trip. 

What requirements must be met for me to use my financial aid for the study abroad semester? 
You must apply and be accepted by the International Office at ODU into an approved study abroad program. 

You must enroll and maintain a minimum of 12 semester credit hours while overseas to maintain your full-time student status and financial aid eligibility. Students are normally enrolled in ODU course LNG-188 to signify full-time study abroad for the semester. 

You must meet with the Financial Aid Office to discuss program costs and your financial aid package prior to leaving for your study abroad program. 

What other study abroad policies do I need to know? 

Study abroad students are responsible for paying their program fee and any other applicable fees to the study abroad organization. 

Students are responsible for all other program fees such as deposits, insurance, visa and passport costs, airfare, and extra travel excursions. It is the student's responsibility to make financial arrangements regarding any of these fees with the study abroad agency prior to departure. 

If you leave the ODU campus before financial aid is disbursed for the term you are studying abroad, you must make arrangements with your financial representative to handle your financial aid and/or scholarship checks coming through the ODU Business Office. You may wish to grant a power-of-attorney to someone you trust to handle financial arrangements for you.

Withdrawal & Refund Policies

Study abroad agencies set their own payment and withdraw deadlines. Pay attention to deadline dates. If you withdraw from the program by the agency withdraw date, more than likely you will only forfeit the non-refundable application fee and enrollment deposits. 

After the withdraw date, you may be subject to all incurred fees from that agency. If you are using any federal, state or institutional financial aid to study abroad, your aid is subject to pro-ration if you withdraw prior to the 60% point of the semester. Withdrawing from your study abroad program after the withdraw deadline date or your arrival overseas could be very costly as you will more than likely have incurred all fees and your financial aid must be pro-rated as mandated by federal regulation. Please check with the International Office prior to withdrawing. 

More Questions?

For questions regarding how financial aid applies to study abroad, please contact: 

Tara Schneider 
Director of Financial Aid 
Erskine Hall, Room 147 
(614) 251-4594
schneidt@ohiodominican.edu