Understanding Costs and Financial Aid
Oral Roberts University (ORU) is a private, Christian university located in Tulsa, Oklahoma. As with any higher education institution, understanding the cost of attendance and available financial aid options is crucial for prospective students and their families. This article provides a comprehensive overview of tuition at ORU, including costs, scholarships, and payment plans.
Tuition and Fees
Tuition and fees at ORU vary depending on the student’s enrollment status, program of study, and residency. The following table outlines the current tuition rates for undergraduate and graduate students:
| Program | Tuition |
|---|---|
| Undergraduate (full-time) | $37,760 |
| Undergraduate (part-time) | $1,445 per credit hour |
| Graduate (full-time) | $41,440 |
| Graduate (part-time) | $1,595 per credit hour |
Tuition includes the cost of instruction, library resources, and other academic services. Additional fees may apply for specific programs or services, such as technology fees or lab fees.
Scholarships and Financial Aid
ORU offers a variety of scholarships and financial aid programs to help students offset the cost of tuition and fees. These include both merit-based and need-based aid. Some of the most common types of financial aid available to ORU students include:
- ORU Academic Scholarships: These scholarships are awarded based on academic achievement and range from $1,000 to $20,000 per year.
- Federal Pell Grants: This federal grant program provides financial assistance to low-income undergraduate students. The maximum Pell Grant award for the 2023-2024 academic year is $6,895.
- Federal Stafford Loans: These low-interest loans are available to undergraduate and graduate students. The maximum Stafford Loan amount for undergraduate students is $12,500 per year.
- Private Loans: Private loans may be an option for students who do not qualify for federal financial aid or who need additional funding. Interest rates and repayment terms vary depending on the lender.
Payment Plans
ORU offers several payment plans to help students and families spread out the cost of tuition and fees over time. These plans include:
| Plan | Description |
|---|---|
| Monthly Payment Plan: This plan allows students to make monthly payments towards their tuition and fees. There is a $50 enrollment fee for this plan. | |
| Semester Payment Plan: This plan divides the total cost of tuition and fees into two equal payments, due at the beginning of each semester. There is a $25 enrollment fee for this plan. | |
| Quarterly Payment Plan: This plan divides the total cost of tuition and fees into three equal payments, due at the beginning of each quarter. There is a $50 enrollment fee for this plan. |
Common Mistakes to Avoid
To ensure that you are getting the most out of your financial aid package and minimizing the overall cost of your education at ORU, it is important to avoid some common mistakes:
- Not applying for scholarships: Many students fail to take advantage of scholarship opportunities because they assume they will not qualify. It is important to apply for as many scholarships as you are eligible for, even if you do not meet all of the criteria.
- Borrowing too much money: It is easy to get caught up in the excitement of attending college and borrowing more money than you need. Be sure to carefully consider your financial situation and only borrow what you can afford to repay.
- Not reading the terms and conditions of your loans: Before you sign any loan agreements, be sure to read the terms and conditions carefully. This will help you avoid any surprises down the road.
Why Tuition at ORU Matters
The cost of tuition at ORU is a significant investment, but it is important to remember that your education is an investment in your future. A degree from ORU can open doors to new career opportunities and help you achieve your personal and professional goals.
Benefits of Attending ORU
There are numerous benefits to attending ORU, including:
- Small class sizes: ORU’s small class sizes provide students with personalized attention from their professors.
- Strong academic programs: ORU offers a variety of strong academic programs, including business, education, engineering, and nursing.
- Vibrant campus life: ORU has a vibrant campus life with a variety of student organizations, clubs, and activities.
- Christian environment: ORU provides a supportive Christian environment for students to grow in their faith and spirituality.
How to Apply for Financial Aid
To apply for financial aid at ORU, you must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is available online at fafsa.ed.gov. Once you have completed the FAFSA, ORU will review your information and determine your eligibility for financial aid.
Conclusion
Tuition at ORU is a significant investment, but it is important to remember that your education is an investment in your future. ORU offers a variety of financial aid programs to help students offset the cost of tuition and fees. By carefully considering your financial situation and taking advantage of all available financial aid options, you can make your dream of attending ORU a reality.
Additional Resources
Frequently Asked Questions
-
How much does it cost to attend ORU?
The cost of tuition and fees at ORU varies depending on the student’s enrollment status, program of study, and residency. The current tuition rates for undergraduate and graduate students are outlined in the article above. -
What types of financial aid are available to ORU students?
ORU offers a variety of scholarships and financial aid programs to help students offset the cost of tuition and fees. These include both merit-based and need-based aid. Some of the most common types of financial aid available to ORU students are listed in the article above. -
How do I apply for financial aid at ORU?
To apply for financial aid at ORU, you must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is available online at fafsa.ed.gov. -
What are the benefits of attending ORU?
There are numerous benefits to attending ORU, including small class sizes, strong academic programs, a vibrant campus life, and a supportive Christian environment. These benefits are discussed in more detail in the article above.