I’m only 18. How do I pay for college? #askingforafriend

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April 03, 2019

We know you have questions, some that you might be afraid to ask, about how to pay for college in order to attend Ouachita. So, we’ve put together some common questions and answers to give it to you straight. No need to ask questions for your friends – we’ve got you!

I haven’t saved money to go to college, so how do I pay for it?

If you have applied for admission to Ouachita, you have also applied for Ouachita’s academic scholarships and grants – yep, money to help you pay for college! This kind of “merit-based” aid is determined by your GPA and highest composite ACT/SAT score.

There are other kinds of student aid, too, (from the federal government, state and private institutions) and student loans that you may be eligible for. You can find all kinds of scholarships and loans to help cover the costs of college, from books to tuition; you just have to do your research!

Your next step is having a plan to pay. Once you are enrolled as a student and have pre-registered for classes, you will have access to your student account online, which includes your billing statement for the semester. Ouachita offers two payment options:

The balance may be paid in full before the first day of class for the semester, or
After your financial aid (scholarships, grants, loans, etc.) is confirmed, you can pay in monthly installments (just so you know, this includes a $35 one-time fee for the semester).

It can be intimidating, maybe even scary, at the thought of paying for college. If fear is holding you back, read this blog to hear from a student who’s been there.

FAFSA, who?

Say that five times fast! Okay, so the Free Application for Federal Student Aid (FAFSA) is an application you have to fill out for the federal government to see if you qualify for the following types of financial aid: Pell grants (money you don’t have to pay back), federal student loans (money you have to pay back after graduation) or work study (a campus job, yay!).

Visit www.fafsa.gov to apply and make sure you mention Ouachita Baptist University (school code 001102) as one of the schools you’ve applied to.

PSA: Write down account usernames and passwords and print important things!

Private scholarships … does that mean they’re a secret?

Private scholarships and grants are scholarships that you may be eligible for but that you must look for and apply to on your own. Basically, they aren’t scholarships you would receive from the government or Ouachita, but they are scholarships that you could use toward your Ouachita education costs.

Ouachita has a list of scholarship sites that you can look into on their Financial Services Private Aid Sources webpage. There are scholarships available to Arkansas residents, out of state residents, minority students and more! You might also look into private scholarships that your hometown or church provides and also any scholarships that might be available for what you want to major in. (Check out this post for more tips on finding private scholarships.)

If I do well in college, can I earn money to help me pay for it?

Yes! Based on your grades each year, there is the possibility that you could be awarded scholarships from your school of study. Working hard pays off, folks!

Also, a scholarship program that is unique to Ouachita is the Ouachita Student Foundation’s (OSF) scholarship program. Because of OSF’s well-known fundraisers for student scholarships – Tiger Tunes each fall and Tiger Tracks each spring – you can apply for additional financial aid from Ouachita for your junior and senior years. The Ouachita Student Foundation reviews your grades, campus involvement and financial need to determine your eligibility and scholarship amount. Neat, right?