Oklahoma is one of the best destinations to study because you get to experience the American prairies and the beautiful mountain ranges. Oklahoma also has excellent educational opportunities, though, with over 80 post-secondary institutions.
Student debt in Oklahoma is more in line with the national average. Residents owe a total of $13.8 billion in student loan debt as of 2019, with the average at $30,131.
At Funding U, we’ve compiled a comprehensive guide to scholarships, grants, and student loans in Oklahoma.
What scholarship programs does Oklahoma have?
Oklahoma offers several scholarships for students wishing to study in post-secondary institutions. Some of the notable ones include:
Oklahoma’s Promise
The unique program allows Oklahoma students whose families earn $55,000 or less annually, and who meet academic and conduct requirements, to earn a college tuition scholarship.
The Academic Merit Scholarship Program
Oklahoma students can receive money for college in the amount up to $5,500 in this scholarship program. It pays for tuition, room and board, transport, books, and other education-related costs.
The student must show outstanding academic promise by having been awarded the U.S. Presidential Scholar, the National Merit Scholar, be a National Merit Finalist, or score 99.5% on their SATs or ACTs.
Eligible students must attend college in the first fall semester following their high school graduation.
The Regional University Baccalaureate Scholarship
Students who are Oklahoma residents and have received the National Merit Scholar or Commended Student (or hold a score of 30 or more on the ACT) may qualify for a maximum tuition waiver of $3,000.
Qualifying students are paid for up to eight semesters or until a baccalaureate degree is obtained. The merit award is only usable at the offered university and cannot be transferred to any other institution.
The University of Science and Arts of Oklahoma, Cameron University, and the University of Central Oklahoma are among the colleges that offer this grant. For a full list of colleges, please see here.
What grant programs does Oklahoma have?
Without grants, many students would not be able to afford college. Oklahoma has numerous awards, which help students to cut down on the cost of higher education, including:
The Oklahoma Tuition Aid Grant Program (OTAG)
The grant offers $1000 or 75 percent of enrollment costs in public schools. For private schools, the award is $1300.
The OTAG grant is a needs-based grant for state residents in eligible colleges, universities, and career technology centers. Schools must be within Oklahoma.
The Oklahoma Tuition Equalization Grant (OTEG)
The college grant helps financially disadvantaged students interested in attending a private institution of higher learning. Eligible awardees receive up to $2,000 yearly for their private education.
Not all institutions accept this grant, however. The University of Tulsa, St. Gregory’s University, Bacone College, and Family of Faith College are among the institutions that do receive this grant.
For a full list of Oklahoma private institutions that recognize the OTEG grant, and more information, call (800) 858-1840 toll-free to learn more.
See more grant opportunities available in Oklahoma here.
What student loan programs does Oklahoma have?
Federal student loans
Prospective Oklahoma students can receive federal financial aid assistance by completing the Free Application for Federal Student Aid(FAFSA).
Private co-signed student loans
There are many private student loan opportunities for those who need additional assistance on top of federal student loans. Many banks, credit unions, and dedicated lending companies offer private student loans, but almost all require a co-signer.
No co-signer student loans in Oklahoma
Funding U began because we identified thousands of students who were unable to qualify for a private student loan because they didn’t have an eligible co-signer. While we’re no longer the only provider of such loans, we offer no co-signer student loans to career-focused students currently enrolled full time in college. The requirements for receiving a loan are dependent upon the GPA of the student and the graduation rate of the institution they attend. To learn more about our no co-signer student loans click here. NOTE: Funding U does not offer loans to residents of the state of Oklahoma. However, if you are attending a school located in Oklahoma and are a resident of another state that is eligible you may apply.
What schools does Funding U lend to in Oklahoma?
Funding U’s no co-signer loans are offered to students at eligible four-year, non-profit, undergraduate degree-granting universities. The requirements mean that we do not lend to for-profit schools, 2-year schools, graduate schools, or trade schools.
Our eligibility requirements are based on how likely a student is to graduate, so we have minimum GPA requirements that students must meet, and minimum 6-year graduation rates that schools must reach to be eligible. Find out more about how we determine our eligibility here.
Below is a table of all the schools in Oklahoma that Funding U is currently lending to, with additional details on which grades we are now considering (based on the school’s six-year graduation rate). NOTE: Funding U does not offer loans to residents of the state of Oklahoma. However, if you are attending a school located in Oklahoma and are a resident of another state that is eligible you may apply.
| School Name | Freshman Eligible | Sophomore Eligible | Junior Eligible | Senior Eligible | 6 yr Grad Rate | Retention Rate |
|---|---|---|---|---|---|---|
| Bacone College | No | No | No | No | 10 | 43 |
| Cameron University | No | No | No | No | 23 | 65 |
| East Central University | No | No | No | No | 35 | 46 |
| Family of Faith Christian University | No | No | No | No | 0 | 67 |
| Langston University | No | No | No | No | 13 | 55 |
| Mid-America Christian University | No | No | No | No | 39 | 56 |
| Northeastern State University | No | No | No | No | 35 | 63 |
| Northwestern Oklahoma State University | No | No | No | No | 30 | 54 |
| Oklahoma Baptist University | No | No | Yes | Yes | 52 | 72 |
| Oklahoma Christian University | No | No | Yes | Yes | 57 | 78 |
| Oklahoma City University | No | No | Yes | Yes | 64 | 82 |
| Oklahoma Panhandle State University | No | No | No | No | 27 | 40 |
| Oklahoma State University-Main Campus | No | No | Yes | Yes | 61 | 81 |
| Oklahoma Wesleyan University | No | No | No | No | 38 | 53 |
| Oral Roberts University | No | No | Yes | Yes | 57 | 81 |
| Randall University | No | No | No | No | 23 | 46 |
| Rogers State University | No | No | No | No | 21 | 62 |
| Southeastern Oklahoma State University | No | No | No | No | 33 | 64 |
| Southern Nazarene University | No | No | No | No | 44 | 72 |
| Southwestern Christian University | No | No | No | No | 30 | 44 |
| Southwestern Oklahoma State University | No | No | No | No | 36 | 66 |
| University of Central Oklahoma | No | No | No | No | 36 | 64 |
| University of Oklahoma-Norman Campus | No | No | Yes | Yes | 67 | 92 |
| University of Science and Arts of Oklahoma | No | No | No | No | 46 | 72 |
| University of Tulsa | No | Yes | Yes | Yes | 74 | 88 |
Loan Forgiveness Options in Oklahoma
Public Student Loan Forgiveness Program
Congress ratified the PSLF in 2007. The program offers student loan forgiveness to graduates who work in public service for ten years and have qualifying loans after 120 payments (10 years).
The program could be another option for graduates struggling to repay their loans in Oklahoma.
If you ended up taking a private loan and experience difficulty in repaying it, contact your lender immediately. It’s a likely situation as it is not common to have found a job by the time your six-month grace period is over.
Lenders offer deferment or forbearance plans to allow you to reduce or postpone your monthly loan repayments temporarily. The plans save you from defaulting on your student loans and ruining your credit score.