The Office of Student Financial Aid

The Office of Student Financial Aid supports the mission of the University by enabling students and families to reduce or eliminate financial barriers that might prohibit their participation in the programs offered by Old Dominion University. The office administers need-based financial aid programs funded by Federal, State, University, and Private sources in the form of grants, Federal Direct Subsidized and Federal Perkins loans, employment and need-and merit-based scholarships. The office also administers the Federal non-need based loan programs (Direct Unsubsidized, parent PLUS) and provides information and support to students interested in the alternative loan options available to them.

The Office of Student Financial Aid is guided by the following areas of emphasis:

• Ensure consistency and compliance with all federal (United States Department of Education and its agents) and state (State Council for Higher Education in Virginia) statutes, regulations, and guidelines as well as institutional policies and procedures.
• Abide by the Statement of Ethical Principles (adopted by the National Association of Student Financial Aid Administrators) that serves as a common foundation for accepted standards of conduct for all Financial Aid Professionals
• Provide timely and accurate information to students via secure and easily-accessible means including a well-trained and responsive team of financial aid counselors who are available via telephone, fax, e-mail, and in person as well as web-enabled detailed financial aid status updates
• Participate in University outreach efforts to encourage early awareness of financial aid programs, including University and Endowed scholarships, and to inform students of eligibility requirements and financial planning strategies
• Follow the nationally-accepted Recommended Good Practices (NASFAA) in the administration of all financial aid programs
• Provide professional environment through continuous training and improvement for all staff to foster positive working relationships with students, office co-workers, campus colleagues, and external agencies

The Office of Student Financial Aid processes over 26,000 applications each year. Approximately 12,000 students receive aid offers exceeding $125 Million annually. Graduate students comprise 12% of students receiving financial aid, and 88% are undergraduates. Roughly 66% of financial aid consists of student loans and federal work-study earnings, while grants, scholarships, and institutional aid supply 34%.

The largest source of financial aid is the federal government - nearly 80%. The financial aid programs sponsored by the Commonwealth of Virginia account for 10%, and the remaining 10% consists of aid from endowed and institutional scholarships as well as scholarships from private agencies.

The financial aid process involves the U. S. Department of Education, the State Council of Higher Education for Virginia (SCHEV), the university, and - most importantly - the student and often his/her family. Applying for and receiving financial assistance is indeed apartnership involving the federal and state governments, the student, and campus employees every step of the way. Financial aid counselors are matched with students according to level (graduate or undergraduate), location (distance-learning or local) and last name. Because the aid process is sensitive to individual students' circumstances, it benefits the student and the counselor when a long-term relationship is established at the outset. Contact your Financial Aid Counselor.

To begin the aid process, submit the FAFSA (Free Application for Federal Student Aid) in January of the calendar year. Applications submitted by February 15 for the school year that begins in late August receive priority consideration for limited grant aid. Early applicants also are assured priority processing and aid delivery.

The FAFSA is available nationally at high schools, colleges, and libraries. It is also available through the 800-433-3243 number and on the web at "FAFSA ON THE WEB" When completing the FAFSA, be sure to include Old Dominion University's institution code, 003728, in the release section to enable the financial aid office to obtain your application data and results electronically from the U.S. Department of Education.