The Application Process
Students applying for financial assistance for the academic year Fall/Spring and Summer must submit the following documents:
- A Free Application for Federal Student Aid (FAFSA) to the U.S. Department of Education. A student need not be admitted to a university to apply for aid, but must be admitted to receive a financial aid notification/award letter.
- Other documentation as requested to verify Financial Aid eligibility.
To qualify for financial aid, a student must:
- be admitted and enrolled as a degree-seeking student.
- be enrolled at least half-time (6 hrs. undergraduate or 4 hrs. graduate) (for Federal Direct Student Loans)
- maintain satisfactory academic progress (SAP).
- be a U.S. citizen or eligible non-citizen.
- be registered with Selective Service, if required.
- have no outstanding debts involving financial aid previously received at Old Dominion University or any other post-secondary institution.
- not be in default on any post-secondary educational loan.
How Student Aid is Determined
Students who wish to be considered for federal, state, or need-based institutional aid must submit a Free Application for Federal Student Aid (FAFSA), to the U.S. Department of Education. If you are unable to meet the priority deadline of February 15, you may still submit this document. Students whose applications are received by the Federal Processor on or before that date will receive priority consideration for the academic year which begins with the Fall term.
The results of your need analysis will be returned directly to you in the form of a Student Aid Report (SAR). Please allow 4 weeks from the date you mail the FAFSA to receive the SAR. Students who apply electronically will receive electronic SARS.
A student's financial need is determined based on a standard equation: Cost of Attendance (ODU) - Expected Family (and/or Student) Contribution = Financial Need
If the expected family contribution is less than the cost of attendance, the Old Dominion University Office of Student Financial Aid will attempt to meet the difference with a combination of need-based aid. This process is called packaging, and a student's aid is packaged on a first come-first served basis. Students are encouraged to view the status of their aid via their secure LEOonline accounts.
Notification of Financial Aid Awards
Admitted students will be notified in writing by Old Dominion University of their eligibility for aid. An award letter, indicating the tentative amount of aid being offered, is mailed to the student. The student must accept or reject the aid as offered and return the award letter to the Office of Student Financial Aid within 10 days after the date printed on the letter. Offers of aid will be cancelled if students fail to return the award letter in the specified time frame. After the initial notification is mailed to the student, subsequent notices will be sent to the student's ODU e-mail address.
Checklist to Prevent Delays in Financial Aid Processing:
- Submit requested documents such as tax forms or w-2's as early as possible.
- Make sure that you have officially been admitted to Old Dominion University. Students who have not been officially admitted to the University are not eligible for financial aid.
- Resolve satisfactory academic progress (SAP) issues as soon as possible.
- Accept awards and revisions within 10 days.
- Make sure that the Financial Aid Office has your correct address for mailing financial aid correspondence, particularly during the summer when many requests for verifying documents are made. All correspondence will be mailed to student's permanent address.
- Financial Aid Clock Stoppers
Your Financial Aid Award May be Adjusted:
Initial financial aid award notifications are based on the cost of education, available resources, and the two assumptions that (1). the student will be enrolled for the courseload he/she checked on the FAFSA and (2). that the student's classification as checked on the FAFSA agrees with the institutional records. Adjustments may be necessary if:
- you withdraw.
- you change courseload.
- you enroll less than full-time.
- you drop to less than full-time.
- you receive additional financial aid, including tuition waivers, scholarships, graduate tuition unfunded scholarships, veterans benefits, etc.
- your tuition rate changes (i.e. out-of-state to in-state).
- any changes are made to your Student Aid Report.
- you fail to earn a passing grade for the term.
- More Information on Adjustments
Disbursement of Financial Aid
Funds are first applied ("disbursed") to a student's account to pay University charges. If a student's charges exceed the aid disbursed, the student is responsible for paying the balance due by the published tuition deadline. If a student is registered, aid which the student has accepted (with the exception of Federal Work Study) will be credited automatically to his or her account provided certain conditions are met. Additional documents are required for Federal Direct Loans and Federal Perkins Loans. Federal Work-Study earnings are paid directly to the student through the payroll office.
Balance of aid checks will be prepared for students who are to receive funds after University tuition and fees have been paid. Balance of aid checks are mailed by the Office of Finance. Checks will be mailed to the student's permanent address as recorded with the Office of Registration & Records. It is the student's responsibility to notify the office of address changes immediately. You may update your address via LEOonline.
Federal Regulation 668.00, titled Student Assistance General Provisions Final Regulation, Section 58, requires that all student financial aid and enrollment information be accurate, and warrant the approved level of financial aid awarded. Grant and scholarship aid in excess of tuition, fees, books and required supplies must be reported on your federal income tax return.
Outside Agency Scholarships
If you are receiving a scholarship from a high school, service agency, private business or any other outside agency, it is advised that the outside agency send official notice stating the student s name, social security number and amount of the scholarship. If you have recently received additional scholarships, advise the financial aid office immediately so that the scholarship, may be considered when calculating the automatic deferment. Scholarship notices must be submitted on the official letterhead of the donating organization and should stipulate any special conditions the student must meet in order to receive the award. Organizations should forward scholarship notifications to: Outside Agency Coordinator, Office of Student Financial Aid, Old Dominion University, 121 Rollins Hall, Norfolk, VA 23529-0052.
Students are strongly urged to contact the organization and arrange that scholarship checks be forwarded to the address above prior to tuition deadline. Some organizations require proof of registration and/or academic transcripts before sending a check to the University. It is the student's responsibility to comply with any requirements stipulated by the awarding agency.
Employment
Federal Regulations require that all students working on campus provide employment eligibility documentation before they begin working. Examples of acceptable documentation are: U.S. passport, certificate of citizenship or naturalization, alien registration card, driver s license and original social security card, or birth certificate. Contact Career Management Center for clarification.
