Satisfactory Academic Progress
Federal Student Aid for Graduate Students
Additional financial Aid Sources
Degree-seeking graduate students at Otterbein University may be eligible for certain federal grants and loans. Half-time enrollment (at least 3 credit hours per semester) is required to receive federal aid. Graduate students enrolled in non-degree, licensure, or certificate programs should contact the Office of Financial Aid to determine eligibility for federal financial aid.
To Apply for Federal Financial Aid at Otterbein:
- Apply for a Federal Student Aid PIN at https://pin.ed.gov. This personal identification number is necessary to use various U.S. Department of Education online systems and to electronically sign the Free Application for Federal Student Aid (FAFSA).
- Complete and submit the FAFSA electronically at http://fafsa.gov/ 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 Institutional Aid Form (IAF) and submit it to the Office of Financial Aid. The IAF is available in electronic format on the Office of Financial Aid website at http://www.otterbein.edu.
Satisfactory Academic Progress (SAP) must be maintained in order to remain eligible for federal student aid. The Office of Financial Aid evaluates SAP after the completion of each academic period (Summer, Fall, and Spring). All terms of enrollment must be considered when evaluating SAP, including those in which the student did not receive federal student aid.
For purposes of federal student aid eligibility, graduate students are considered to be making Satisfactory Academic Progress if they are in good academic standing with The Graduate School and are continuously progressing toward completion of their graduate degrees within established program completion time limits.
Federal Direct Unsubsidized Stafford Loans
How to Apply:
- The student must complete the Free Application for Federal Student Aid (FAFSA).
- Once the student receives a Financial Aid Award, the student must accept the Federal Direct Stafford Loan(s) via Self-Service Banner (MyBanner) in accordance with the instructions provided on the Financial Aid Award.
- After accepting the Federal Direct Stafford Loan(s), the student must complete Entrance Counseling and sign a Master Promissory Note online at www.StudentLoans.gov.
The Federal Direct Stafford Loan annual loan limit for graduate or professional students is $20,500 in a Direct Unsubsidized Loan per academic year.
The maximum aggregate limit of Federal Direct Stafford Loans for graduate or professional students is $138,500. This includes all federal loans received for undergraduate study and may contain no more than $65,500 in subsidized loans.
Federal Direct Graduate PLUS Loan
The Federal Direct Graduate PLUS Loan is a federal loan that credit-worthy graduate students may borrow for their own education. The dollar amount of a graduate student’s eligibility is based on the individual student’s annual Cost of Attendance (COA) and takes into account eligibility for any other type of aid being received. The student applicant must meet eligibility requirements to receive federal student aid and be making Satisfactory Academic Progress. The Federal Direct Graduate PLUS Loan is a form of aid that must be repaid by the student borrower.
Federal Direct Graduate PLUS Loan Overview
How to Apply:
Student must complete the Free Application for Federal Student Aid (FAFSA).
Once the student receives a Financial Aid Award, they may apply for the Federal Direct Graduate PLUS Loan.
After completing the Request for the Federal Direct Graduate PLUS Loan, the student must complete Entrance Counseling and sign a Master Promissory Note.
Teacher Education Assistance for College and Higher Education (TEACH) Grant
The TEACH Grant Program can provide a federal grant to some graduate students enrolled in a TEACH-Grant-eligible program who are completing, or plan to complete, course work needed to begin a career in teaching.
Certain enrollment, academic achievement and service requirements must be met and agreed to in order to receive a TEACH Grant. As there are multiple criteria to be met, interested graduate students should contact the Office of Financial Aid to determine if enrolled in a TEACH-Grant-eligible program and any potential grant eligibility. Details are provided at: https://teach-ats.ed.gov/ats/index.action.
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, www.westervillechamber.com or by email at firstname.lastname@example.org.
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 underserved area. Additional information may be found at http://nhsc.hrsa.gov 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 http://nhsc.hrsa.gov 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 www.n-e-f.org 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 scholarships 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.