The University of Tulsa strives to make quality private higher education available to all qualified students. Every effort is made to help students who require financial assistance meet their tuition and living expenses. Sources of financial aid at TU include scholarships, federal loans, and private loans. Approximately, 98% of the student body receives some combination of federal and private loans. 62% of the overall student body receives a scholarship.
The TU Office of Student Financial Services is available to assist students understand the financial aid process and answer questions about loan eligibility. Contact Kristi Emerson, Financial Services Counselor, at 918-631-3325 or firstname.lastname@example.org for more information.
Financial Aid Application Process
To receive federal financial aid, students must complete a new Free Application for Federal Student Aid (FAFSA) each year. The Department of Education begins accepting applications for the new school year on October 1.
Please Note: All students are required to set up a utulsa.edu email account with the University as soon as the Office of Admissions provides the instructions. The TU Office of Student Financial Services will only correspond with students via their utulsa.edu accounts.
Students who plan to attend summer school must complete the Summer TU Financial Aid Application form and have a current FAFSA on file with the TU Office of Student Financial Services. The summer form will be available in March of each year. Students studying abroad or visiting another school will need to complete the study abroad/visiting student form.
Once we have received your application, we may ask for additional information or documents based upon information received from the Department of Education. Some students are chosen by the Department of Education for a process called Verification. We will send you an email requesting the documentation required to complete the verification of your file. Additional information may be required if all questions are not resolved. Once all of the documents are received and all discrepancies are resolved, we will process your application.
Aid eligibility will not exceed your Cost of Attendance. The Cost of Attendance is set annually on reasonable expenses. (See Tuition & Fees) It does not cover debt previously incurred or high expenses. Please set a budget for yourself if you plan to live on an aid refund; regulations are tight and do not include any expenses for other family members.
All Students are required to have medical insurance and enrolled automatically. To opt out of the mandatory health insurance: www.aetnastudenthealth.com/tu
IMPORTANT NOTE: All awards are based on Full Time Status. Please notify the Office of Student Financial Services immediately if you will not be attending Full Time.
Federal Direct Unsubsidized Stafford Loans
Federal Direct Unsubsidized Stafford Loans are available for students who need funds to help meet their educational expenses. The maximum amount for an Unsubsidized Stafford loan per academic year is $20,500. The student is responsible for the interest on this loan while in school or upon the request of the borrower. This interest can be added to the principle. Visit studentloans.gov for the current interest rate and origination fees. Students will enter repayment six months after enrollment drops below half-time status. The lifetime aggregate Stafford loan limit for law students is $138,500, of which no more than $65,500 can be from the Subsidized Stafford loan. Read more about Direct Unsubsidized Loans
Federal Direct Graduate PLUS Loans
The Federal Direct Graduate PLUS (GPLUS) Loan is a loan that students may apply for in addition to the Direct Unsubsidized Stafford loan. The maximum a student is allowed to borrow each year is the difference between the Cost of Attendance and all other aid received for the academic year. Visit studentloans.gov for the current interest rate and origination fees. Students will enter repayment six months after enrollment drops below half-time status. The student must not have adverse credit in order to obtain this loan. Read more about the GPLUS Loan
Private Alternative Loans are loans that students may apply for in addition to the Federal Unsubsidized Stafford loan. The maximum a student is allowed to borrow each year is the difference between the Cost of Attendance and all other aid received for the academic year. This interest rate varies among the lenders as they will use either the T-Bill or Libor in addition to another percent that will be determined by them when you apply for the loan. Some lenders will also assess processing and origination fees and those are based upon your credit score. Students will enter repayment six months after enrollment drops below half-time status. The student must be creditworthy in order to obtain this loan. Read more about private loans
Federal regulations require all recipients of student financial assistance to make satisfactory academic progress toward a degree or eligible certificate. Read more about the Satisfactory Academic Progress (SAP) Policy
If you are entering The University of Tulsa AND have student loan debt, please self-report this school change to the National Student Loan Data Systems (NSLDS).
This will assist you in obtaining an in-school deferment status if eligible.
- Visit www.nslds.ed.gov/nslds/nslds_SA
- Log in using your FSAID
- Click on the tab titled “ENROLL” in the menu
- In the drop down box, choose “Oklahoma” – “University of Tulsa” then provide the date you will be attending TU and click “ADD”
- Click “SUBMIT” to save changes
1. Need help from a student loan expert? Contact Heather Jarvis by visiting her site:
2. Need information on student loan repayment from the Federal Student Aid office? Visit the U.S. Department of Education site:
What Do I Need To Do After I Receive My Award Letter?
You should accept award offers as quickly as possible once you receive the email telling you the award letter is ready. You will sign into the TU portal and log onto your web advisor account. You will be able to accept or decline the aid offer directly on the financial aid self-service page. You will then follow the instructions listed below for each type of loan you are choosing to accept for the year.
- To sign the Stafford MPN, the GRAD PLUS MPN and complete entrance counseling please go to: https://studentloans.gov
- To apply for the Direct Graduate PLUS loan please go to: https://studentloans.gov
To be eligible for this loan you must not have adverse credit.
- To apply for a private loan that is based upon your credit worthiness please go to: https://admission.utulsa.edu/financial-aid/loan-information/private-loan/ and choose the lender you wish to apply with. You will then follow the application instructions per their web page.
If your award letter has an offer of “PLUS/PRIVATE” this is a loan that you must initiate on your own. You accepting this loan offer on the TU portal does not allow us to process this loan for you. You must choose which credit based loan you will apply for, the Federal Direct Graduate PLUS loan or the Private loan. Once you have completed the application process outlined above, signed the Promissory Note and the lender has approved your credit, they will send our office the electronic certification request.
When Will My Loan Funds Be Disbursed To TU?
We request that the loan funds be disbursed to TU on the first day of classes. This will only happen if you have signed the Master Promissory Note (MPN), completed the required entrance loan counseling and are enrolled in the number of hours for which the aid was processed.
If you would like for the bursar’s office to directly deposit the excess funds into your bank account please go to https://webadvisor.utulsa.edu/ log in and complete the bank information.
If you choose not to participate in direct deposit a check will be prepared for you to be picked up at the bursar’s office approximately 2 weeks after your funds are disbursed to TU.
Please note that loan amounts may be adjusted if you are not enrolled in the hours that were anticipated at time of awarding. This process can take up to 10 business days to resolve before funds are credited to your student account.
Return of Federal Financial Aid for Early Withdrawal
As mandated by the Department of Education, recipients of Federal Title IV student financial aid must complete at least 60% of the term enrolled to earn all of the federal funding awarded for that award period. When a recipient withdraws from the term for which funds are paid directly to the student or used to pay charges owed by the student for a specific enrollment period, a Return of Title IV Calculation is required.
Students earn the opportunity to receive federal funds based on the number of days of attendance in each enrollment period, expressed as a percentage of the total number of days in the term. This calculation translates into the percentage of Federal Title IV financial aid earned by the student while in attendance. Unearned federal funds must be immediately returned to the federal programs. This may result in the student owing charges to The University of Tulsa.
Two additional variables are important for students to understand if they are recipients of Federal Title IV financial aid funds. After a student is in attendance through the 60% point of the enrollment period, no Return of Title IV calculation is required. The student is considered to have earned the funds received for the term enrolled. The second variable of importance is for students who have earned a percentage of funds they have been awarded but not yet received. These students may still be eligible to receive a percentage of those funds after the total withdrawal occurs. The required Return of Title IV calculation will determine eligibility for funds.
Attendance is the key…if enrollment is maintained in at least one class with attendance beyond the 60% date during the term; this policy will not affect the student. All withdrawals will impact satisfactory academic progress. Please refer to the Satisfactory Academic Policy for details.
Other Important Information
If you need money for books upfront and will have excess funds for the semester, please contact the bursar’s office one week before classes begin to request funds be applied to the your student ID in order to purchase books in the campus bookstore.
There are only three items that will be considered when requesting additional aid:
The cost of a computer for school – Please provide to the Office of Student Financial Services a receipt or a quote for this one time increase.
Daycare expenses – Please provide written documentation from the daycare provider regarding the cost that you will incur for the academic year. This must be submitted each year in order for it to be added to the Cost of Attendance budget.
The University of Tulsa Health Insurance – Please contact Kristi Emerson via email to confirm that you are purchasing the TU health insurance.