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Tuition and Financial Aid
TUITION AND FEES CHART
|2014-15 Costs||2014-15 Tuition Reduction|
|2015 Summer Tuition (includes housing)||$8,500|
|Summer Tuition||$1,315 (8hrs)|
Impact of the Tuition Reduction
Less borrowing now means greater long-term financial strength for every student. It is projected that with our reduction in tuition, the median debt for ONU Law students will decrease to $79,499, a roughly $26,500 reduction from existing median debt projections. A nearly $9,000 tuition cut is the largest known tuition cut of any private law school in the U.S. at this time, and we are are proud to be taking the lead in affordability and true value.
Projected median debt will reduce by nearly $26,500
Available Financial Assistance
Sixty-seven (67) percent of the 2014 entering class received scholarship and/or grant money.
The average award for students entering in 2014 was $12,500.
ONU Law awards merit-based scholarships to highly qualified students each year. These awards recognize exceptional students who possess outstanding academic credentials, diverse backgrounds, and leadership abilities that indicate the applicant’s potential to excel in all aspects of the law school experience. Once submitted, a student’s application is automatically considered for merit-based aid.
There are a variety of private companies and organizations that award private scholarships. A student can begin their search for private scholarships on websites such as fastweb.com and careerinfonet.org.
ONU Law awards a limited number of need-based grants to students whose FAFSA indicates significant need for financial assistance. Once a FAFSA is submitted, a student’s application is automatically reviewed for a grant.
OUR UNIQUE SCHOLARSHIP PRACTICES
ONU Law has a long history of competitive and fair scholarship practices. The keystone of which is the scholarship review following a student’s 1L year. All students take the same core courses throughout their first year, so all 1L’s are re-evaluated for merit-based aid based on their performance during their first academic year. Students who exceed their predictors their first year and do exceptionally well have the opportunity for an increase in their award offer for their second and third years. Students who entered without an award offer for their first year who perform exceptionally well also have the opportunity to receive scholarships for their second and third years.
Students who received awards for their first year and met the minimum GPA requirement are not in jeopardy of losing their merit-based aid.
Financial Aid Process
Financial Aid Packets will be sent starting March 1. If you submit your FAFSA after March 1, it will take around a week to process and send your financial aid packet. Students will be required to provide the following.
Financial aid transcripts from each college or university you have attended
- The transcript forms are mailed to you after your admission application is received
- The Free Application for Federal Student Aid (FAFSA)
- FAFSA forms are available in late autumn at the Financial Aid Office or at your undergraduate school. You should file the FAFSA as soon as possible after January 1 of each year.
- Visit: www.FAFSA.ed.gov to fill out the application.
Financial Planning: Loan Options
The majority of law students finance their education through a combination of financial aid resources. It is important to complete the FAFSA in order to receive the full benefits of any need-based or federal aid. Available sources of aid are as follows:
To qualify for a federal loan, complete the Free Application for Federal Student Aid (FAFSA). You may then apply for federal loans at www.studentloans.gov and complete the loan application, the entrance counseling for graduate students, and master promissory note.
Federal Direct Stafford Unsubsidized Loan:
ONU Law students are eligible for up to $20,500 in unsubsidized Stafford loans. The amount a student qualifies for is based on other financial aid received and aggregate loan limits. Federal loans are deferred until the student graduates or falls below part-time status. The grace period is six months. Unsubsidized means that the interest accrues on the loan once the loan is disbursed.
Federal Direct Graduate PLUS Loan:
Students can qualify to borrow up to the cost of attendance through the Grad PLUS loan, however a credit check must be completed. Payments on this loan are deferred until six months after graduation or the end of enrollment and may be used to cover any remaining education needs up to the total cost of attendance. The total cost of attendance includes tuition, living expenses, and books. A 4.204% processing fee will be applied at disbursement.
Private student loans are available through all major lenders. A student can borrow up to their cost of attendance minus all other financial aid sources. Rates vary based on borrower’s credit and the chosen lender, so a cosigner may be necessary. There is usually no processing fee required. Private loans are not eligible for federal loan forgiveness programs.
FEDERAL WORK STUDY
The College of Law offers several work study positions that are reserved for law students. To qualify for a FWS position, students must complete the FAFSA. Examples of FWS positions include teaching assistants, research assistants, and library assistants. Work study is highly discouraged as a first year law student. In the L2 and L3 years if you wish to do work study, the amount is deducted from private or Stafford eligibility since your Financial Aid is awarded to the total cost of attendance. You will need to notify Financial Aid of your intention to utilize FWS at that time.
Yellow Ribbon Program
ONU is a 2014 Military Friendly University - G.I. Jobs
To learn more about Veterans benefits through ONU, Click Here.
In addition to support within the classroom, Ohio Northern has committed to support Veterans financially as a member of the Yellow Ribbon Program. As part of the Yellow Ribbon Program, Ohio Northern University will cover 50 percent (up to $20,000 per year) of any tuition and fees that remain after Post 9/11 GI Bill benefits have been used by an eligible service member. The U.S. Department of Veterans Affairs will then match Ohio Northern’s contribution, which means eligible military Veterans can attend ONU Law tuition-free. To apply for Veteran’s benefits, visit www.gibill.va.gov.
For more information, please contact the Office of Financial Aid:
For answers related to Financial Aid, the FAFSA, Loans, Scholarships, and Grants, please contact Ohio Northern University's Financial Aid Office at 419-772-2272 or firstname.lastname@example.org.
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