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B.S. in Actuarial Science

Otterbein University Course Catalogs

2011-2012 Graduate Catalog 
    Sep 18, 2020  
2011-2012 Graduate Catalog [Archived Catalog]

Financial Assistance

Satisfactory Academic Progress
MBA Students
Graduate Education Students
Graduate Nursing Students

Degree-seeking graduate students are eligible to be considered for a variety of loans. Three credit hour (half–time) enrollment is required for federal student loans. Graduate students enrolled in non-degree, licensure, or certificate programs should contact the Financial Aid Office to determine eligibility for federal financial aid.

To Apply for Financial Aid at Otterbein:

  • Apply for a PIN with the U.S. Department of Education (USDE) at This personal identification number is necessary to use various USDE online systems and to electronically sign the Free Application for Federal Student Aid (FAFSA).
  • File the FAFSA electronically using Otterbein’s Title IV Code. Code is 003110. The FAFSA should be filed as soon as possible after January 1.
  • Complete the Otterbein University Graduate Student Institutional Aid Form and submit it to the Financial Aid Office. This form is available at the Financial Aid Office and on the Financial Aid Office’s website,

Satisfactory Academic Progress (SAP)

Satisfactory Academic Progress (SAP) must be maintained in order to remain eligible for Federal Aid consideration. The Financial Aid Office evaluates SAP after the completion of each academic period (Summer, Fall and Spring). All terms of enrollment, including Summer, must be considered in the determination of SAP (even periods in which the student did not receive federal student aid funds must be counted).

Satisfactory Academic Progress (SAP) towards a degree is determined by three tests:

  1. Academic Standing, (the appropriate GPA based upon credit hours earned; see Academic Standing in the Important Academic Policies and Procedures section of this catalog); and
  2. A student’s successful completion of credit hours attempted; and
  3. The completion of one’s degree within a reasonable time period.

Credit Hours Attempted versus Hours Earned: To maintain eligibility for federal student financial assistance, a student must successfully complete two-thirds (67%) of the credit hours attempted. Any course with a grade of “F” (failing), “W” (withdrawal), or “IP” (in progress) on the student’s academic transcript is considered an unsuccessful completed of hours attempted. (Once the “IP” has been completed, the grade will stand as either successful or unsuccessful completion as mandated by the Federal Government.)

Degree Completion: In addition to completing two-thirds of the credit hours attempted, a student must also complete his/her academic program within a reasonable timeframe, not to exceed 150% of the published length of the program—a student must meet all graduation requirements by the time the 192nd semester hour has been attempted. All periods of attendance are counted towards the maximum timeframe.

Since Academic Standing and Satisfactory Academic Progress are interrelated, a student may meet an adequate Academic Standing level (higher than a 2.0 cumulative GPA, for example), but not meet Satisfactory Academic Progress standards. If the student has not successfully completed enough classes (those classes with a “D” or above on the academic transcript) to meet the two-thirds (67%) earned hour rate, (s)he would not be making SAP for federal financial aid purposes.

Graduate students are considered to be making satisfactory academic progress for purposes of financial aid eligibility only if they are in good academic standing with Otterbein.

The first time a student fails Satisfactory Academic Progress they will be placed on warning. A student on warning status may receive one term of financial aid. If a student on warning fails Satisfactory Academic Progress they may appeal his/her Satisfactory Academic Progress and possibly received one term of federal aid on probation. The SAP Appeal Form may be used for this purpose and is available in the Financial Aid Office or through the website in the forms section. Satisfactory Academic Progress is administered by the Office for Financial Aid 614-823-1502.

MBA Students

The Westerville Area Chamber of Commerce offers a scholarship for a qualified applicant who has been accepted into the MBA program. More information is available at the Westerville Area Chamber of Commerce website, or by email at

Graduate Education Students

Otterbein University has fee waiver agreements with most Central Ohio school districts. Teachers who are interested in receiving a fee waiver should contact their district for availability, application deadlines, and information on application procedures.

Graduate Nursing Students

  • The National Health Service Corps Loan Repayment Program provides for the repayment of educational loans for nurse practitioner students made in exchange for a commitment to work in a medically under served area. Additional information may be found at or by calling 1-800-221-9393.
  • The National Health Service Corps Scholarship Program provides scholarships and stipends for nurse practitioner students who work at NHSC sites for specified period of time after graduation. applications are available for fall and application deadlines are around March. Applicants need to be in the last year of their program. Additional information can be found at or by calling 1-800-638-0824.
  • The Nurses Educational Funds, Inc. 555 West 57th Street, New York, NY 10019 provides scholarships for registered nurses who are seeking a master’s degree. Scholarships range from $2,500 to $10,000. Selection is based on academic excellence. Additional information may be found at or by calling 212-399-1428.
  • Kappa Lamba Scholarships are available in the spring from the Nursing Department. Contact the Otterbein University Nursing Department for additional information.
  • Information on the Mid-Ohio District Nurses Association Scholarship is available by calling 614-486-8685.
  • The Ohio Nurses Association offers interest-free educational loans for members. For additional information, write to the ONA, 4000 E. Main St., Columbus, OH 43213-2983.
  • Nurse Anesthesia Traineeships (available to second and third year students): contact Dr. Elizabeth Seibert 614-821-1326.
  • American Association of Nurse Anesthetists Foundation (AANA-F) Student Scholarships: The AANA-F awards more than 50 scholarsships for nurse anesthesia programs. Requirements for each AANA-F scholarship and the amount awarded vary. Applications are available in spring from Dr. Elizabeth Seibert 614-821-1326.