FINANCIAL PLANNING
| Tuition (2 classes/6 credit hrs) | ||
| Books and Supplies (per quarter) |
These costs are per quarter rates and are based on Autumn 2005 rates of tuition and estimates of other expenses.
For students who intend to apply for financial aid, the College suggests that you make application for multiple aid programs. Several are listed below. Financial aid is also made available through hundreds of private foundations, business organizations, etc. There are several periodicals available in the University and public libraries, which list other resources including the Annual Register of Grant Support, The Grants Register, and the Directory of Financial Aid for Women.
How financial need is determined:
The majority of all sources of financial assistance require that the student demonstrate financial need. Briefly, a student is said to have financial need when the sum of all the student's financial resources are not sufficient to cover the costs for the academic year. Like most universities, Ohio State uses the Free Application for Federal Student Aid to assess the student's available resources. This form is completed by the student (and parents where applicable) and either mailed to Federal Student Aid Programs in Princeton, New Jersey or submitted online at http://www.fafsa.ed.gov to be evaluated. From the information provided, they calculate as estimated contribution, which estimates what the student and the student's family can pay toward the student's educational costs, and sends this evaluation to the University Financial Aid Office. This is a time consuming process, so it is wise to begin early.
This latter office may slightly adjust the estimated family contribution before subtracting the estimated contribution from the student's budget. The budget amount is determined by the Financial Aid Office, which conducts a survey each year of average local costs of housing, utilities, transportation, tuition, books, etc. From these careful calculations, standard budgets are obtained that differentiate by independent or dependent status, marital status, resident status, number of children, whether enrolled for three or four quarters during the year, etc. The difference between the student's standard budget and the family contribution is referred to as the student's financial need. Thus:
Standard Budget minus Family Contribution = Financial Need
Students with unusual circumstances, such as high medical bills, may consult with persons in the Need Analysis Office to request adjustments to the standard budget or the family contribution.
A new Free Application for Federal Student Aid or a renewal must be filed for each academic year. These may be filed online at http://www.fafsa.ed.gov. No filing fee is required. Ohio State’s school code is 003090.
University sources of financial support:
Education Loans: The Student Financial Aid Office administers all student loans at The Ohio State University. The following loans are available to help finance graduate education. Regulations may change from year to year. (Contact the Student Financial Aid Loan Office for further details, 614-292-0300) or by visiting: http://sfa.osu.edu/Loans.
- University Loan - These loans are applied for quarterly and have a usual maximum of $650 per loan. Interest rates usually average 7% and repayment schedules vary. Should be used as a last resort!
- Federal Direct Loan - These loans are available through the University Financial Aid Office. Repayments of principal and interest begin six months after the student leaves the University. Filing of the FAFSA is required as this type of loan is need based. Application processing takes at least 12 weeks.
- Emergency Loan - At any time during the year, a student may apply for an emergency loan for $50, or in unusual circumstances, up to $500. Repayment period is 90 days at 7% interest. Must have a co-signer or employment of 20 hours per week. Also should be used as a last resort!
Campus Loan Resources:
Student Financial Aid Offices:
Lincoln Tower - http://sfa.osu.edu
COLLEGE OF SOCIAL WORK SCHOLARSHIP APPLICATION
OSU-N Financial Aid Office:
Hopewell Hall Mall
Phone: 740-366-9364
Federal College Work-Study Program: The University Financial Aid Work-Study Office administers this employment program for students at OSU. To be eligible, you must be a U.S. citizen or hold a permanent or immigrant visa and file the FAFSA to demonstrate financial need. Be sure to contact the OSU Financial Aid Counseling Center for information about additional, specific, Work-Study application requirements and deadlines on the Mansfield Campus (419-755-4011). Qualified students will be employed in a campus position for no more than 30 hours per week. Hourly rates vary.
Non-University sources of financial assistance:
Because of the limited funds, students are strongly encouraged to seek financial assistance through alternative sources such as these listed below. Also, to learn about more scholarship and grant programs, consult the following periodicals, available in the University and public libraries: The Annual Register of Grant Support, The Grants Register and the Directory of Financial Aid for Women.
Hattie M. Strong Loans: The Hattie M. Strong Foundation administers an interest-free loan program for American college students. Loans are made solely on the basis of individual merit, without regard to race, sex or religion, are interest-free and do not require collateral. The terms of the repayment are based upon monthly income after graduation and are arranged with each individual so as to work a minimum of hardship. Only those students who are within one year of completing their studies for the degree will be considered. Maximum loan for one year is $2500.
Students should request application after January 1. Deadline is March 31. Loans are made on a competitive basis taking into account the applicant's motivation, need, self-reliance, as well as scholastic record. Make inquiries to the Hattie M. Strong Foundation, 1735 Eye Street NW, Suite 705, Washington, D.C. 20006; phone (202) 331-1619.
Graduate Legislative Intern Program: Congressional Black Caucus Foundation: This internship program provides Black and other minority graduate students with exposure to the legislative branch of the government. Interns are assigned to the staff of congressional committees to serve a two to three month internship during winter and summer and receive a stipend of $1,000 per month. For additional information contact: The Congressional Black Caucus Foundation, 3383-A House Annex #2, Washington, D.C. 20515.
Ohio Legislative Internship Program: For recent college graduates (baccalaureate or master's level) who desire practical experience in the legislative process or legislative research. This program is designed to encourage outstanding college graduates to pursue careers in public service. Applicants must have degree completed by December 1. Successful applicants normally have a "B" average or higher and above average communication skills. Applications accepted beginning January 1st, with an April 1st deadline. Appointments are for one year beginning in December at a salary of $24,500, with an annual bonus of $2,000 if internship completed. For application and additional information contact: Ohio Legislative Service Commission, Legislative Internship Program, State House, Columbus, OH 43215, phone (614) 466-3615.
The Jewish Welfare Board Scholarships: The Jewish Welfare Board offers a scholarship program designed to aid students who are concentrating their studies in areas leading to professional careers in Jewish Community Center work (i.e. synagogues, Jewish youth groups, etc.). For further information regarding types of aid, scholarship criteria, and application procedures write to: The Scholarship Coordinator, The Jewish Welfare Board, 15 East 26th Street, New York, NY 10010. Application deadline is February 1.