Our Lady of the Lake University (OLLU) Financial Aid and Scholarships
Students Receiving Aid
92%
Total Aid Amount
$22.042M
Financial Aid Official Website
www.ollusa.edu/financialaid
Our Lady of the Lake University’s main objective behind offering scholarships and financial aid is to support students by making their education at OLLU affordable through quality, private education. With major consideration to economic realities and the competition in the market, it is committed to providing students with efficient tools and resources for shaping them.
The total financial aid awarded to students amounts to $22,042,289 which indicates that 92% of the students under OLLU are assisted with grants, loans, scholarships and work-study to finance their education. The students must complete the FAFSA for availing these facilities.
Scholarships
These are financial aid awarded to students with respect to their academic performance and leadership qualities.
Undergraduate Scholarships: They are categorised into:
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Academic Scholarships for Incoming Freshman: The award amount ranges from $7,000 - $17,000 depending upon the students’ grade point average (GPA) and SAT/ACT scores.
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Academic Scholarships for Transfer Students: For students with a GPA within 2.00 to 3.75 are offered awards ranging from $8,500 to $15,000.
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Sister Rose Annelle McClung Scholarship: A $1,000 scholarship offered by the School of Business and Leadership.
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Phi Theta Kappa: A $3,000 scholarship offered to incoming transfer students with a minimum GPA of 3.0 who need to be members of Phi Theta Kappa.
Graduate Scholarships and Assistantship: A list of graduate scholarship includes:
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Health and Human Service Scholarships: The scholarship amount varies and is applicable to students enrolled for Communication Disorders, Psychology and Social Work programs.
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PsyD Scholarship: A renewable scholarship for students pursuing a Doctor of Psychology program.
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Graduate Assistantships: These are paid scholarships applicable for selective graduate programs.
External Scholarships: These are offered by other organizations apart from OLLU.
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Stars Scholarship Fund: Students aiming to pursue degrees under accredited colleges and universities, may apply but they must ensure to be residents of South and West Texas.
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Charles, Lela and Mary Slough Foundation Scholarships: A $5,000 scholarship awarded every year to students attending college in Texas.
Grants
Eligible students are open to apply for grants as they are need-based financial aid. Grants are of three categories:
Federal Grants
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Pell Grants: Undergraduate students with exceptional financial needs are offered with Pell Grants. However, the amount varies with respect to the status of enrollment every year.
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Supplemental Educational Opportunity Grant (SEOG): A campus-based federal program where the funding amount is limited. The eligibility criteria are similar to pell grants.
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Teacher Education Assistance for College and Higher Education (TEACH) Grant: This applies for both undergraduates and graduates who have the intention to teach low-income family students admitted in public or private elementary and secondary schools.
State Grants
Texas Equalization Grant Program (TEG): Both undergraduate and graduate students are eligible with the intention to pursue programs at the private universities located in Texas.
Loans
Federal Direct Loans: The loans are for students who are U.S. residents or eligible non-citizens who have satisfactory academic progress. They are of three types:
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Federal Direct Subsidized Loans: The Federal Government is responsible to pay interests.
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Federal Direct Unsubsidized Loans: The students are responsible to pay interest. Interests may be paid quarterly if such a situation arises.
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Federal Parent Loan for Undergraduate Students (PLUS): In this case, the parents are responsible for repayment. However, they may choose to extend until the students complete their studies but the parents must not have any adverse credit check.
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Graduate Direct PLUS Loans: The graduate students and professional scholars may apply but they must not have any adverse credit.
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