Financial Aid Frequently Asked Questions (FAQs)

How early should I apply for Financial Aid?
As soon as possible after January 1! Don't wait until you are accepted to Ohio Dominican or until you have met with your admission counselor to discuss what classes you want to take. ODU's priority filing date is April 1 of each year.

How often do I need to apply for Financial Aid?
All students must reapply for financial aid every year. You should apply for financial aid as soon as possible after January 1. See Apply for Financial Aid.

How is my Financial Aid Eligibility determined?
Eligibility for most types of aid is awarded on the basis of financial need. Need is based on the following equation: Cost of Attendance - Expected Family Contribution (EFC) = Financial Need.

The information you report on the FAFSA is used to calculate your EFC, which is a measure of your family's financial strength. The EFC is then used to determine your eligibility for all federal, state and institutional aid funds. The formula for the EFC calculation is established by law.

What should I do if I find an error on my Student Aid Report (SAR)?
If you find an error or need to make corrections to your SAR you can: 1) make corrections online by using your PIN through the Department of Education's FAFSA on the Web site or 2) supply your corrections to our office and we will submit the SAR electronically.

What is an Award Letter?
An award letter/notification will be sent to you when we receive the results of your FAFSA and have determined your financial aid eligibility. The award notification indicates the type and amount of financial aid you will qualify for based on your estimated enrollment. Some types of aid require you take further action. You will be notified of this within 2 weeks of receipt of your award.

I received work-study as part of my award. Now what?
If your award letter/notification includes a work-study award, you are eligible to work on campus and get paid for your work completed. You will be paid bi-weekly as you work.  These funds are not automatically applied toward your tuition and fees. 

Will I need to submit copies of my Federal Tax Return?
Approximately 30% of all students who apply for financial aid are required to have their application information verified. We are required to collect copies of your signed previous year's Federal tax return and verification worksheet for the current aid year. We then confirm the data you supplied on your FAFSA application. If we find that corrections are necessary, we will submit the correction(s) electronically and you will receive a new Student Aid Report (SAR) at your home.

Can I use my financial aid to buy my books?
You will have to purchase your text books as they are not included in your bill.  You need to come prepared to buy your books prior to the beginning of classes.  If your financial aid exceeds your billed cost you can contact the Business Office about getting a book voucher to purchase your books before classes begin.

What happens if I don't complete all my classes?
Your financial aid is disbursed based on the number of credit hours for which you are registered. There are three exceptions to this rule:

1. You will not receive financial aid for classes you do not attend. If you apply for financial aid late, you will receive federal financial aid for the number of credit hours you are registered for when we receive your accurate Student Aid Report.
   
2. If you withdraw from all classes, your financial aid eligibility will be recalculated according to the Ohio Dominican University/Federal Refund Policy. A copy of the refund policy may be obtained in the Financial Aid Office, Erskine 147.

We are required to monitor your progress towards your degree. A copy of our Satisfactory Academic Policy is located on the Financial Aid Consumer Information page or a copy may be obtained in the Financial Aid Office. Please read the policy thoroughly. Failure to comply with this policy may result in the loss of your Federal financial aid.

What can I do if my income has changed?
If you have experienced a loss of income or benefits during the current year or believe you have an unusual circumstance, you may apply for a Special Condition. Please contact the Financial Aid Office to discuss your situation.

How and when do I pay my bill?
Your tuition, room and board fees will be divided into two separate payments. Prior to each semester, the ODU Business Office will send you a bill for that semester. One-half of your aid, excluding student employment and required loan fees, will be credited to your account in the ODU Business Office.You and your family may elect to participate in the University's payment plan. This plan helps families manage expenses on a monthly basis. Additional information is available from the ODU Business Office.

How do I renew my aid for next year?
Students must reapply for financial aid each academic year. Depending upon continued availability of federal, state and institutional funds, Ohio Dominican seeks to maintain a comparable financial aid package from year to year. Actual awards may vary based on total cost, family need, student academic achievement and program eligibility. Some types of aid have specific criteria that must be met to renew the award. Priority filing date is April 1. Please know the Financial Aid staff is here to assist you in exploring all available resources in order to make your Ohio Dominican education most affordable.

Ohio Dominican University reserves the right to make changes and designate the effective date of changes in financial aid programs, policies and procedures as necessary.

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Financial Aid Office
Ohio Dominican University
1216 Sunbury RD
Columbus OH 43219

(614) 251-4778
Fax: (614) 253-3499
finaid@ohiodominican.edu