Financial Aid
Grants, Loans, and Work-Study
Get to know the types of aid outside of scholarships. Explore the two types of loans from the federal government, the grants available to you, and how to use work-study benefits.
Get to Know Your Financial Aid Options
Federal student aid can help make your OBU education more affordable through grants, loans and work-study. Complete the FAFSA to be considered for these federal funding options and explore the aid available to you.
Explore College Grants
From federal grants for college students to Oklahoma state programs, several grant opportunities may help reduce your college costs. Explore the options below to see which programs may fit your eligibility.
Up to $7,395
The Federal Pell Grant provides funding to eligible undergraduate students who demonstrate exceptional financial need.
The Federal Supplemental Educational Opportunity Grant provides additional grant assistance to eligible students with significant financial need.
The TEACH Grant provides eligible students pursuing certain teaching careers with financial assistance in exchange for meeting specific teaching requirements.
The Oklahoma Tuition Aid Grant helps eligible Oklahoma students with demonstrated financial need pay for college.
The Oklahoma Tuition Equalization Grant provides eligible Oklahoma residents with financial assistance toward tuition at qualifying private colleges and universities.
The Oklahoma Rising Scholar Award provides financial assistance to eligible Oklahoma students who meet the program's requirements.
Oklahoma Inspired to Teach provides financial support for eligible students preparing to become teachers who meet program requirements.
Explore Loans
Loans are an increasingly important part of financing a college education. These loans have low interest rates, and both the interest and principal may be deferred until after you leave school. Consider a loan as borrowing against the increased earnings you can hope to have as a college graduate.
Up to $5,500 in the first year, $6,500 for the second year and $7,500 for the third and fourth years
Stafford Loans are low-interest federal loans available to both undergraduate and graduate students. They are one of the most commonly used student loans. The interest rate is fixed at 6.39% for both subsidized and unsubsidized loans. A separate loan application is required for first-time borrowers.
- Subsidized Stafford Loan: The government pays the interest while the student is enrolled, during the grace period and during approved deferment periods. Undergraduates may borrow $4,500 in the second year and $5,500 in each of the third and fourth years. Repayment begins six months after the student’s last semester in school.
- Unsubsidized Stafford Loan: This loan has the same terms as the Subsidized Stafford Loan, except the student is responsible for the interest that accrues while in school. Demonstrated need is not required. Payments can be deferred until after the student leaves school.
Sixty percent of all OBU students have Stafford Loans.
Up to the cost of education
The PLUS Loan allows parents to fund up to 100% of their student’s cost of education, less any financial aid already awarded. It has an interest rate of 8.94%. It’s a cost-effective alternative to using savings, income, retirement accounts or home equity loans for education costs.
PLUS loans are based on credit. If a parent is denied a PLUS loan, the student becomes eligible for an additional $4,000–$5,000 in unsubsidized Stafford loans. Repayment begins within 45 days of disbursement, but it may be deferred while the student is in school.
Some lenders offer alternative or private loans for education expenses. If you have applied for federal aid and still need additional funding, you may want to apply for an alternative loan. Lenders have different terms and interest rates, so compare them carefully. We have a few recommended lenders on our list, but feel free to shop around and find the loan that’s best for you.
Explore Federal Work Study
Federal Work Study is a federal aid program that provides part-time employment for a limited number of students who have financial need. A Work Study award is the total amount a student is eligible to earn in wages from federal aid after securing an on-campus job.
Work Study eligibility is not a job guarantee. More students are eligible for Work Study than funds can support, so each student is responsible for finding a job. The Student Financial Services Office only identifies who is eligible to take part in the program. It does not evaluate applicants’ work skills. Some applicants may be better qualified or more motivated than others, so the decision to hire rests solely with the employer. Some areas have only one student employee, while others have several. Job availability also depends partly on how many student workers return from the previous year.
Work Study recipients must be enrolled full-time. Students who secure a Work Study job are paid bi-weekly at minimum wage by payroll check. Earnings are not automatically applied to the student’s account. Students can use the money for personal expenses or put it toward their school bill.
Top Questions Other Students Are Asking about Funding and Aid
Oklahoma Baptist University offers several types of financial aid to help students make their education more affordable. Eligible students may qualify for federal grants, federal student loans, and Federal Work-Study opportunities by completing the FAFSA. OBU students may also be considered for scholarships and other funding opportunities based on academic achievement, talent or financial need.
Yes! Students attending Oklahoma Baptist University may qualify for federal financial aid programs, including Pell Grants, federal student loans, and Federal Work-Study. As an accredited private Christian university, OBU participates in federal aid programs designed to help students and families manage college costs.
No. Students at Oklahoma Baptist University are not required to accept all—or any—of the federal student loans offered in their financial aid package. Students and families can review available aid options carefully and choose the funding amounts that best fit their financial goals and needs.
The Free Application for Federal Student Aid (FAFSA) is the first step to being considered for federal financial aid at Oklahoma Baptist University. Completing the FAFSA helps determine eligibility for grants, loans, and work-study opportunities and may also help students maximize their overall OBU financial aid package.