Financial Aid

Types of Aid

Getting a college degree is an amazing opportunity. The dreams you can achieve and the places you can go with a college degree are endless. It is our job at the Office of Student Financial Services to make sure money does not stand in the way of achieving higher education that you may be eligible to receive. The types of aid you can obtain for OKWU include Grants, Loans, OKWU Scholarship, and Outside Scholarships. Please feel free to contact us at any time if you need any help at all to figure out which kind of aid is right for you.

Grants

Pell Grant

The Federal Pell Grant is given to students who demonstrate financial need based on FAFSA information. The grant for full-time students ranges from $5,550 to $ $5,645 per year.

Supplemental Educational Opportunity Grant (SEOG)

The SEOG federal grant supplements the Pell Grant and is given to students with the highest financial need. The grants at Oklahoma Wesleyan University range from $400 to $2,000 annually. OKWU funds are limited by government allocation. So, priority is given to those students who apply early. The FAFSA processing date is used to determine aid eligibility.  If verification paperwork is not completed by the priority deadline, funds may be removed.

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TEACH Grant

Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants for up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low income families. In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. As a recipient of a TEACH Grant, you must teach at least four academic years within eight calendar years of completing the program of study for which you received the TEACH Grant.

IMPORTANT: If you fail to complete this service obligation, all amounts of the TEACH Grants that you received will be converted to Federal Direct Unsubsidized Stafford Loans. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed.

Oklahoma Tuition Aid Grant (OTAG)

OTAG is a need-based program for Oklahoma residents attending Oklahoma colleges or universities.  Application is made through the FAFSA and awarded to eligible applicants.  The OK Regents sets a cutoff date that varies each year but OKWU recommends filing before March 1. It is important to file early.  Grant eligibility and policy are determined by OK Regents and is based on the Expected Family Contribution (EFC).  Students must meet Satisfactory Academic Progress.

Oklahoma Promise (formerly OHLAP)

OK Promise is a scholarship for Oklahoma residents attending Oklahoma colleges or universities. It is a program that a family must sign up for while the student is in the 8th, 9th, or 10th grade, and there are specific income, academic, and conduct requirements to receive the scholarship. For information on this award, contact the Oklahoma State Regents for Higher Education at 800-858-1840.

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Oklahoma Tuition Equalization Grant (OTEG)

OTEG is a need-based program for Oklahoma residents enrolled as full-time undergraduates at an Oklahoma not-for-profit, private or independent institution of higher learning. Application is made through the FAFSA and awarded to eligible applicants as funds allow.  Grant amounts are $2,000 per academic year or $1,000 per academic semester. To be eligible, the student must complete the FAFSA, be enrolled fill-time at OKWU, have unmet financial need, have family income of $50,000 or less, be an Oklahoma resident according to the OK Regents Policy on Residence Status and meet the institution’s satisfactory academic progress requirements.

Work-study

Work-study awards are based on a student’s financial need and FAFSA processing date. Eligible students are employed through the university in on-campus and off-campus positions. Work-study positions pay $7.25 per hour and students are scheduled to work 8-10 per week. Work-study will be treated like a regular job with Human Resources requirements as well as general work-related requirements.

Loans

Subsidized and Unsubsidized Stafford Loans are awarded on the budgeted annual cost of attending OKWU. Students are limited in the amounts they can barrow through the Stafford Loan program each year. The interest rate is variable from year to year but is capped at 8.25 percent. Students who use the Stafford Loan program are not required to make payments on the principal of the loan until six months after they leave school or drop below half time.

A Subsidized Stafford is a need-based loan that is awarded to students who have financial need based on the information submitted to FAFSA. The interest on subsidized Stafford Loans is paid by the federal government while the student is in school at least half-time.

For unsubsidized Stafford Loans, interest accrues while the student is still in school. The borrower has the option to pay the interest while in school. If they choose not to pay the interest, the interest is added to the principal of the loan.

The Perkins Loan is a need-based federal loan in which the student borrows money from the institution. It currently has a 5 percent fixed rate. While the student is in school, no payments are required and no interest will accrue.

Upon leaving school, the student is given a nine-month grace period. Payments and the accrual of interest will begin after the grace period expires. Schools have limited funds for awarding Perkins Loan each year. Early application is recommended.

Perkins Loan awards range from $400 to $2,200 annually.  Currently, Perkins Loans are only available to our Traditional students.

The Parent Loan for Undergraduate Students (PLUS) is a loan that a parent applies for and repays on behalf of his or her dependent student’s education. The interest rate on the PLUS loan is fixed rate set each July 1, with a cap of 9.00 percent. It is currently below that rate. Contact the Office of Student Financial Service for information on the current year’s rate.

Private Education Loans help bridge the gap between the cost of an education and the other aid available.  Private loans are offered by private lenders and eligibility generally is dependent on a credit score.  Most traditional students require a co-signer.  OKWU does not recommend a private lender but does recommend you use a reputable bank and review the terms carefully.

OKWU Scholarships

Academic Scholarship

Academic scholarships range from $3,000 to $6,000 annually and are renewable if the appropriate cumulative GPA is maintained and the student remains in good standing with Student Life. Academic awards ranging from $3,000-$4,500 must maintain a cumulative GPA of 3.3.  Academic awards ranging from $5,000-$6,000 must maintain a cumulative GPA of 3.5.  They will be reviewed at the end of the academic year.

Incoming Freshmen: Add the appropriate point values for your cumulative high school GPA and SAT/ACT score.

Transfers: Double the point value of your cumulative college GPA only.

Cumulative GPA

Point Value

SAT/ACT Score

Point Value

3.3

1

1020/22

1

3.4

2

1070/23

2

3.5

3

1110/24

3

3.6

4

1150/25

4

3.7

5

1190/26

5

3.8

6

1220/27

6

3.9

7

1260/28

7

4.0

8

1300/29

8

Award based on points

1 point

$3,000*

2-4 points

$3,500*

5-6 points

$4,000*

7-8 points

$4,500*

9-11 points

$5,000**

12-13 points

$5,500**

14-16 points

$6,000**

 

* Must maintain 3.3 cumulative GPA for annual renewal

** Must maintain 3.5 cumulative GPA for annual renewal

Presidential Leadership Scholarship:

  • This scholarship is available to first-time or transfer students.
  • The scholarship is renewable annually with a 3.0 cumulative GPA and by remaining in good standing with Student Life.
  • The scholarship is for $5,000 annually and will be awarded based on a committee selection process.
  • To be considered for a Presidential Leadership Scholarship, a student must be nominated by a pastor, youth minister, school counselor, Board of Trustees member, admissions representative, OKWU faculty or OKWU staff member. Application must be submitted by March 1 and students must complete their FAFSA and OKWU institutional financial aid application by March 15. The announcement will be made by April 1 by the Admissions Office.

Valedictorian and Salutatorian Scholarship

  • OKWU offers 75% tuition to the valedictorian and 45% tuition to the salutatorian of accredited high schools, some restrictions may apply.
  • Must be ranked #1 in his or her class as verified at time of awarding and on final, official transcript.
  • Must meet the OKWU admission criteria.
  • Transcripts will be evaluated on an un-weighted, 4.0 scale.
  • Must be entering as a first-time, full-time freshman student and live on-campus.
  • Renewable annually with a 3.5 cumulative GPA.
  • Students may only add Wesleyan Member and Church Matching funds to this award.
  • OKWU limits the total number of Valedictorian/Salutatorian Scholarships it awards annually.
  • A non-refundable Enrollment Commitment and signed Award Letter must be received by March 1.

National Merit Scholarship

  • This award is for finalist, semi-finalists or those receiving commendation in the National Merit Program who is enrolled full-time and living on campus at the institution.
  • This scholarship may be received for up to four years of continuous enrollment.
  • Students can be awarded up to a maximum of 100% tuition. An academic scholarship will not be added to this award for finalists and semi-finalists.
· Finalist: Full-Tuition
· Semi-Finalist: Half-Tuition
· Commendation: $1,500 per year

OKWU Rotary Scholarship

  • The student must be entering as a first-time, freshman student
  • The scholarship is renewable with a 3.3 cumulative GPA and is available for up to four years of continuous enrollment at OKWU.
  • This scholarship awards $750 annually to students who have earned Student of the Month honors during high school through the local Bartlesville Rotary chapter.

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Church Matching Grant

  •  OKWU will match each gift from a church, district, or church organization
  • A student may receive up to $300 per semester in matching funds
  •  No personal checks are accepted. The check must come from church, district, or church organization

Wesleyan Bible Bowl or Campus Challenge Scholarship

  •  This is awarded to top honor earning students in the Wesleyan Bible Bowl or Campus Challenge according to the guidelines established by the Wesleyan Church
  •  The amount will vary based on the amount of scholarship dollars earned.
  •  The total scholarship will be evenly divided and applied over eight semesters
  •  Total awards, regardless of source, cannot exceed tuition
  •  Original scholarship certificates must be submitted to OKWU

Wesleyan Ministerial Loan/Grant

  • The Ministerial Loan/Grant program is available to upper division Religion majors on the Ordination track with a cumulative GPA of at least 2.0.
  • This loan/grant is available for up to 64 undergraduate hours, and is restricted by the policies set by The Wesleyan Church. Funds provided by The Wesleyan Church, with matching portions from OKWU.
  • There is an extensive packet that must be completed each semester. The current deadlines for application are in October and February.

Wesleyan Minister and Missionary Dependent Grant

  • This grant is for dependent students whose parent is an active, full-time Wesleyan minister or missionary.
  • The scholarship is renewable annually with a 2.0 cumulative GPA.
  • The grant is $3,800 annually. Specific guidelines to receive this grant are listed on the application. In order to receive this scholarship, the application paperwork must be received before the end of the fall semester.

Non-Wesleyan Minister and Missionary Dependent Grant

  • This grant is for dependent students whose parent is an active full-time non-Wesleyan minister or missionary.
  • The scholarship is renewable annually with a 2.0 cumulative GPA.
  • The grant is $3,000 annually. Specific guidelines to receive this grant are listed on the application. In order to receive this scholarship, the application paperwork must be received before the end of the fall semester.

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Alumni Dependent Grant 

  • This is awarded to dependent students whose parent attended OKWU or one of it antecedent schools
  • This award is $400 annually.

Multiple Student Grant

  • This is awarded to dependent siblings who are attending OKWU at the same time.
  • This award is $600 annually.
  •  This award is renewable annually as long as at least two dependent students remain in attendance.

Activity Awards

  • Activity Awards are for students participating in intercollegiate sports, music, and Student Government Organization leadership. The amount awarded varies, and recipients are selected through a written recommendation to the Office of Student Financial Services by the coach or sponsor.
  • Recipients must maintain a minimum cumulative GPA of 2.0 with successful completion of chapel each semester, and other general requirements. The activities that award scholarships are: Baseball (M), Basketball (M,W), Cross Country (M, W), Golf (M,W), Soccer (M,W), Softball (W), Tennis (M,W), Track (M,W), Volleyball (W), and Instrumental Music or Vocal Music.

Outside Scholarships

There are many organizations that support students in the educational pursuits. Check the following resources.

Military/Veteran Benefits

Military/Veterans Benefits may be utilized by those who have served or who are serving in the US Armed Services, their spouses and dependents, and/or their surviving family members.  There are several different military/veteran benefits available to many of our students.  OKWU students may contact the Registrar’s Office for more information at 918-335-6269.

Vocational Rehabilitation Services (VRS)

Vocational Rehabilitation Services is a program of the Bureau of Rehabilitation Services (BRS), provides quality individualized services to enhance and support people with disabilities to prepare for, obtain or retain employment. Through active participation in their rehabilitation, people with disabilities achieve a greater level of independence in their work place and living environments.

Native American Scholarships

Many tribes fund scholarships for college-bound members.  A list of offices can be found at www.aiccm.org/oklahoma-tribes

High School Counselor

Set an appointment with your school counselor to discuss scholarship options.

Web

Free, online scholarship databases.  Apply often!

Employers

Tuition reimbursement or employer assistance is offered by many companies as an incentive to their employees to obtain or complete their degree.  Check with your employer or your parent(s)’ employer if you are a dependent student.