Complete Your FAFSA
To ensure that you keep all of your options open for covering your cost to attend OU, complete the Free Application for Federal Student Aid (FAFSA). Here are a few notes that will help you throughout the application process, but if you have additional questions, please visit OU's Student Financial Center website.
What is the FAFSA?
The FAFSA (or Free Application for Federal Student Aid) is the government-provided application for need-based funds to help pay for college. OU highly recommends completing the FAFSA regardless of your family's income. Nearly 75% of OU students who apply for financial aid receive some type of assistance.
The FAFSA opens October 1 each year
Families can begin the FAFSA starting October 1 at fafsa.ed.gov. It takes about one hour to complete and you'll need these 3 items:
- Social security number (or permanent resident card)
- Any W-2s you received in the past year
- Prior prior year tax records (this is your tax records from 2017 (for Fall 2019 incoming freshmen))
You'll need to add OU's Federal School Code when completing the application so that we receive the students information. Our code is: 003184
Once at fafsa.ed.gov, create a FSA ID
The first thing your family will do when you start the FAFSA is create a username and password called a FSA ID. This will serve as your electronic signature. You only have to create an FSA ID once, and you can use it each year to renew your financial aid information. Once your FSA ID and password are created, you may begin the FAFSA.
Submit the FAFSA
If available, use the IRS Data Retrieval Tool to pull in your tax information, or enter it manually. On the last page of the FAFSA, you must add OU's Federal School Code when completing the application so that we receive the students information. Our code is: 003184
You'll receive a Student Aid Report in 3-5 days
Once you submit the FAFSA, you'll receive an email within 3-5 days with your Student Aid Report (SAR). Your SAR will tell you your Expected Family Contribution (EFC), the federal government's calculation of how much your parents should be able to contribute to your education, and provide you an idea of what federal aid your qualifying for.
Selected for verification?
You could receive 3 types of aid
OU will begin sending financial aid estimates in the spring. You must be admitted to OU and have listed OU on the FAFSA to receive a financial aid estimate. The estimate will include state aid, federal aid and OU scholarships you've been offered. You will also see a detailed cost breakdown of your freshman year so you can see your overall financial need.
Here are the three types of aid you could receive (you don't have to accept all or any of the financial aid you're awarded):
- Free Money - Scholarships based on merit and federal or state grants based on financial need. Neither have to be repaid.
- Earned Money - Work study programs determined by your FAFSA and on-campus job. Both can be found at jobs.ou.edu.
- Borrowed Money - Federal and/or private loans taken out by the student to pay for college. These must be repaid with interest.