Financial Aid will help
In reality, the majority of students at private colleges come from families earning less than $30,000 annually, and in Arkansas, they typically graduate owing less than students who attend state-supported colleges and universities. How? Financial aid!
One thing you'll learn about Ozarks is that we have alumni and donors who realize the impact of "giving back." Thanks in part to their generous support, we're able to provide more than $8 million annually to help more than 90 percent of our students fund their education!
Endowed Scholarships – the University awards nearly $1.2Million per year in scholarships that have been created by alumni and friends for the exclusive use of Ozarks students. The scholarships have a variety of requirements, sometimes they are geography based, sometimes restricted by major, sometimes the only criteria is “a deserving student”. Your admission counselor, after getting to know you, will help the financial aid staff in identifying possible scholarships.
Merit Scholarships – the University works to create an academically diverse student body and to ensure the diversity it has created scholarships that require meritorious prior acts. Examples of merit scholarships include strong academic performance in high school or at another college. Some merit based scholarships require secondary applications, an audition or portfolio review.
Need Based Scholarships – the University was founded in 1834 to serve the community, to serve humanity and prepare young people for the life ahead of them. Often students need financial support greater than the resources provided by their family. The University, using the Free Application for Federal Student Aid (FAFSA), will work with you and your family to find additional resources in the form of need based aid.
Almost every student is eligible for some type of federal financial aid.
You may qualify for any of several federal, state, or university funded grants if you meet certain income requirements. These grants are gifts of money you can use to pay your direct costs...you do not have to pay it back. If you don't qualify for a grant, you may still qualify for a federal subsidized loan. If you take out one of these loans, you don't start to accrue interest on the money you borrow until you are out of school. Even those who don't qualify for need-based aid might qualify for an unsubsidized loan, which means you don't have to make loan payments until you finish school.
Many states offer varying support for college. If you are an Arkansas resident (60% of our students call Arkansas home) you may be eligible for the Arkansas Challenge Award. The scholarship is awarded on tiered class-based system. In the freshman year a student can receive $1,000 and by the time they are a senior they may receive $5,000. Unlike many other institutions that assume the increase is available to cover tuition increases or replace other aid - at Ozarks we will work with each student to try and decrease his or her loan commitments, as the state increases the award.