Costs and Financial Aid

College of the Ozarks is dedicated to providing a Christian education to students who are without sufficient financial means, but are willing to work for their education.

The cost to College of the Ozarks for providing an educational opportunity is approximately $19,500 per year for each student. While most colleges and universities pass along a portion of the cost as tuition, this is not the case at College of the Ozarks. The College guarantees to meet each full-time student’s Cost of Education by offering the Work Education Program and a combination of private, institutional, and federal/state aid - but without student or parent loans.

Cost of Education - Summary

Student Expenses

The student is responsible for room, board, fees, books, and personal expenses.
The costs for 2020-2021 include:

Health/Technology/Services Fee

This fee is charged for ID cards which admit students to cultural and athletic activities and provides a subscription to the campus newspaper, yearbook, some health clinic services, student accident insurance, and student activities.

Other Costs

Textbooks, laboratory manuals, and workbooks may be purchased by students at the College bookstore. Students may sell most books back to the bookstore at the close of the term. Each semester approximately $550 should be allowed for the purchase of textbooks and supplies. A graduation fee of $50 is charged to cover a portion of the costs associated with graduation ceremonies.  Nursing majors incur additional costs.  Refer to Nursing Student Handbook.

Financial Probation

Financial Responsibilities: The College expects students to meet the financial responsibilities to which they commit, and of which both they and their parents are made aware prior to admission and enrollment.

Students’ major financial responsibility is the room and board charge. Students may follow the current plan which details that 25% of the current semester charge is due in four installments on the first working day of the month (Fall=August, September, October, and November; Spring=January, February, March, and April). Payments outside these parameters during the semester are permitted as long as the entire semester’s room and board charges are paid in full by Final Registration.  Other financial obligations include, but are not limited to:

• The Health, Technology and Services Fee, due each semester at final registration;
• Miscellaneous (laundry, clinic, or milk charges);
• Bookstore charges;
• Drop class fees;
• Flu shot and TB test;
• Work uniform and shoes;
• Library fines;
• Medical bills;
• Nursing test;
• Tickets.

Final Registration is the first week of December and the third week of April each semester. The date indicated as Registration Finalized serves as the ultimate deadline by which students must meet all financial obligations. This date is published in the College calendar and in the College Catalog and on Campusweb.

Students who do not meet the prescribed financial obligations, or obligations to which they commit in a special payment plan through the Business Office, will be placed on financial probation. A financial probation hold will be placed on the student record.

Students on probation may not participate in auditioned theatre roles, student government, intercollegiate athletics, extracurricular college trips, auditioned ensembles, and other programs in which they would be serving the College in a representative role.

Students on financial probation for two consecutive semesters will be suspended from the College.

Students suspended due to financial probation may be considered for readmission only after the student account is paid in full. If any college department or facility (e.g., the Library, Business Office, etc.) has placed a hold on a student record, the student must resolve that hold before a transcript will be released.

Students may appeal financial probationary status or suspension to the Vice President of Vocational Programs/Chief Financial Officer. The appeal must be in writing and set out the basis of the appeal. Letters of appeal must be legible and must be submitted the next school day following notification of the action by the financial probation committee.

Commuting Students

College of the Ozarks is a primarily residential college, and permits commuting in limited situations. Students who are permitted to commute abide by the same expectations as resident students. Commuting students pay a $230 Health/Technology/ Services Fee each semester.

Part-time commuters (11 hours or less) pay $310 per credit hour toward the Cost of Education charge, with the remaining costs met by various grants and the institutional scholarship. In order to receive a degree at College of the Ozarks, students are required to participate in the Work Education Program as a full-time student (during the academic year) for at least two semesters.

All financial obligations owed the College must be cleared before the student can register for subsequent classes or receive a diploma or transcript.

Free Application for Federal Student Aid (FAFSA)

College of the Ozarks is committed to providing an educational opportunity for students with limited financial resources. In order to determine need, all students are required to file a Free Application for Federal Student Aid (FAFSA) every year. The application for returning students must be on file in the Financial Aid Office by January 16th of each year. Students who do not file the FAFSA by the announced deadline will have a hold applied to registration.  Refer to Registration  for more information.  New students have a preferred deadline of November 15 to be considered for new student admission and financial aid packaging.

Federal Pell Grant

This federal aid program provides financial assistance to undergraduate students. Recipients are determined by the results of the FAFSA. The amount of the Pell Grant is based on the family’s financial resources and the student’s enrollment status. Eligibility is limited to a total of six years as a full-time student. The Pell Grant is credited to the student’s Cost of Education charges.

Federal Work Study and Federal Work College Programs

All full-time students (enrolled in 12 credit hours or more) at College of the Ozarks must participate in the Work Education Program. Students work as a minimum contribution to their Cost of Education, as well as being an integral part of the educational experience. An allotment of Federal Work Study funds (FWS) may be used each year for students with the greatest need. Work Study credits will be no less than the federal or state minimum wage (whichever is greater). The Work Education Program is described in the Student Handbook and the Work Education Program  section of this catalog. FWS funds are credited to the student’s Cost of Education charges.

Supplemental Educational Opportunity Grant (FSEOG)

This federal grant is available to undergraduate students with exceptional financial need. The maximum SEOG award at College of the Ozarks is $1,000. A student applies for the SEOG by filing the FAFSA. The SEOG is credited to the student’s Cost of Education charges.

Access Missouri Grant

Grants are available to full-time students with financial need who are Missouri residents. Students apply for Access Missouri when they file the FAFSA by February 1st for the upcoming year. The Access Missouri Grant is credited to the Cost of Education.

Scholarships

Cost of Education (COE) Scholarship

The College awards the Cost of Education Scholarship after all grants and work credits are applied to the student’s account. This COE award serves to meet the remaining cost of education for all full-time students.

Room and Board Scholarships Earned with Summer Work

Room and board scholarships are awarded to qualified students who participate in the on-campus Summer Work Education program in which students work up to twelve 40-hour work weeks.  The earned credit is applied to room and board charges for the following school year.  Summer room and board charges for students participating in the Summer Work Education Program are also covered by this scholarship. Applications for the summer Work Education Program are made available on Campusweb during the spring semester for students who are currently enrolled. Students accepted for the fall term should contact the Admissions Office for application procedures. Students who do not participate in the summer Work Education Program may elect to retain a campus room during the summer at a weekly rate and work at an off-campus job. (The rental program is not available for incoming students.)

Scholarship Application

In addition to the Summer Work and COE Scholarships noted above, there are many scholarships available to students for educational expenses.  The C of O General Scholarship Application is online and students are encouraged to complete it beginning in January each year for the next school year. The online application is found in CampusWeb>Student Resources>Financial Aid and Scholarships.

Ozarks Fellowship

Outstanding graduating seniors who exemplify the College’s five-fold mission, with a minimum GPA of 3.2 and planning to attend graduate or professional school may apply to the Dean of the College for the honor of being designated an Ozarks Fellow. Recipients of this fellowship receive a stipend during their first year of graduate study. Applications should be sent to the Dean no later than April 1 and include a 500-word essay detailing the student’s graduate plans and financial need, two academic letters of recommendation and one letter of personal reference, and evidence of acceptance to graduate or professional school. Scholarship recipients are announced at the May graduation ceremony.

Awards Convocation Scholarships

Several funds have been made available by individuals and trust funds to support a special Awards Convocation in the spring of each year. Students are chosen based on citizenship, grades, work performance, leadership, and Christian growth.

Please refer to http://www.cofo.edu for a current listing of scholarships or visit the Financial Aid Office for additional information.

Educational Loans

College of the Ozarks strongly discourages student debt, and therefore does not participate in any federal, state, or private student loan program.

Responsibilities of Financial Aid Recipients

Satisfactory Academic Progress (SAP) Policy

Students receiving Federal Student Aid (i.e. Federal Pell Grant, Federal SEOG, Federal Work Study and Federal Work Program) are expected to meet certain academic standards, also called Satisfactory Academic Progress or SAP, in order to continue to receive Federal Student Aid funds.  Failure to meet SAP policy requirements will cause the student to lose eligibility for Federal Student Aid at College of the Ozarks.

SAP Policy Summarized in Eight Points

Simply stated, the policy has nine points, which are:

1. There are a maximum number of credit hours a student can receive Federal Student Aid, up to a Bachelor’s degree and a minimum rate of completion for all classes taken.
2. There are GPA requirements to be met and what grades are included.
3. If classes are not successfully completed or GPA requirements not met, a student loses eligibility for Federal Student Aid.
4. How new and transfer student courses are treated in regards to the policy.
5. If aid is lost, in step 3, an appeal may be submitted.
6. The process for appeal.
7. A plan must be in place for the student to succeed in classes. If plan not followed and academic requirements not met, aid is lost.
8. If a student has or receives a Bachelor’s Degree or exceeds 1.5 times the number of hours for their program of study, aid is lost.

Satisfactory Academic Progress Policy Detail
(Revised; Effective August 1, 2018)

A. Purpose

Students receiving Federal Student Aid may enroll in courses that will fulfill their educational goals.  These courses should follow published degree requirements.

The Higher Education Act of 1965, as amended, mandates institutions of higher education to define, establish, and enforce minimum standards of satisfactory academic progress for students receiving Federal Student Aid.

B. Policy

In accordance to Federal Student Aid regulations, College of the Ozarks has established both quantitative and qualitative measures for evaluating the progress of Federal Student Aid recipients.  Evaluation of the academic progress of students will occur at the end of each academic year (in May).

In order to allow for the appropriate due process, an appeal procedure is included to allow for extenuating circumstances.

C. Procedures

1. Pace (quantitative)

1. Federal Student Aid regulations provide for assistance up to 150% of program length, i.e. there is a maximum timeframe in which Federal Student Aid can be awarded.
2. Students pursuing an Bachelor’s Degree may attempt up to a maximum of 150% of the required hours for their program of study.
3. Students must successfully complete at least two-thirds (66.66 %) of their total credit hours attempted. Credit hours transferred from other colleges and universities will be included in the total credit hours attempted at College of the Ozarks and will be counted in the credit hours toward the pace maximum.
4. Students who graduate and/or complete their Bachelor’s Degree (program of study) will be considered to have met the pace maximum.  NOTE: No additional time will be allowed for program of study completion if a student changes majors or programs. All courses in all semesters are counted in the pace maximum.
5. All classes with a grade of A, A-, B, B+, B-, C+, C, C-, D+, D, D-, F, P, W, WP, I, are counted in the pace calculation, including any classes which are repeated.

2. Grade Point Average (GPA) (qualitative)

Unless placed on an academic plan, as noted in Section (C)(7), students receiving Federal Student Aid must maintain the following GPA in order to receive Federal Student Aid:

1.  a minimum cumulative grade point average of 2.00, and
2. Grades of A, A-, B+, B, B-, C+, C, C-, D+, D, D- and F are counted when determining a student’s cumulative GPA.  Grades of I, and any audit grades are not counted when determining a student’s cumulative GPA. Grades for credit hours transferred from other colleges and universities will be included when determining the pace (hours completed), but GPA is not used since GPA is not accepted by the College for transfer hour.

3. Financial Aid Probation

1. Students failing to meet either the Pace requirement in Section (C)(1) or GPA requirement in Section (C)(2) will be placed on Financial Aid Probation for the succeeding academic year. The student is then ineligible for Federal Student Aid.
2. Once a student regains a satisfactory cumulative GPA and meets the pace requirement (minimum 66.66%) for completion of the total credit hours attempted, the student may regain eligibility for Federal Student Aid.
3. A student may appeal the loss of Federal Student Aid eligibility once during their enrollment at College of the Ozarks, in accordance to the appeal process found in Section (C)(6).

4. New Financial Aid Recipients and Transfer Students

1. New and transfer students who attend College of the Ozarks will be required to meet the satisfactory academic progress standards at the end of the academic year (which occurs in May) in which they entered classes at College of the Ozarks.  
2. Students who have already completed an undergraduate degree and apply for financial aid will be considered to have met the pace maximum and are ineligible for Federal Student Aid. 

5. Conditions for Appeal
Students who lose eligibility for Federal Student Aid may submit an appeal for consideration by the Financial Aid Director. An appeal may be submitted due to the following condition:

1. Student has been placed on Financial Aid Probation.

6. Appeal Process
The process to appeal the loss of Federal Student Aid benefits will be maintained by the Financial Aid Office and communicated to the appropriate students at the end of each academic year (in May), or as otherwise deemed   necessary.

1. Appeal of a Financial Aid Probation status is done through the College of the Ozarks Financial Aid Office.  The documents necessary for an appeal will be provided to the student at such time the student is deemed to be in a Probation status for financial aid.

1. The appeal is required to include the student’s name, college ID#, primary degree program, anticipated graduation date, and a statement clearly explaining reasons for poor academic performance.
2. A clear outline showing each semester, until graduation, what classes will be taken semester.           

If a student’s appeal is reviewed and Federal Student Aid is not reinstated by the Financial Aid Director, the student may appeal the decision, in writing, to the Vice President for Patriotic Activities and Dean of Admissions, whose decision is final.

7. Academic Plan

Subsequent to review and approval, students whose aid eligibility is reinstated will be subject to following an established academic plan.  

1. A student placed on an academic plan must complete each academic year with a minimum 2.00 Cumulative GPA and not dropped or failed any courses during the academic year (fall and spring).  Failure to meet this component will cause the student to be placed on Financial Aid Probation. 
2. If a student has already been placed on an academic plan following a successful Financial Aid Probation appeal, then loses eligibility, the student is required to regain eligibility by meeting the College’s Satisfactory Academic Progress Policy. Therefore, the student must meet the academic requirements for a completion ratio of at least 66.66% as specified in Section (C)(1)(c) and grade point average requirements as specified in Section (C)(2) and have not exceeded the maximum number of allowable credit hours and subject to ineligibility as defined in Section (C)(8).
3. If a student believes they have met the requirements for reinstatement, as noted in (C)(7)(b) above, a request can be submitted to the Financial Aid Office requesting a review of eligibility.

8. Graduates and Maximum Hour Limits

Students who have met the requirements in order to receive a Bachelor’s Degree or have a Bachelor’s Degree or have exceeded the maximum number of allowable credit hours (150%) for their program of study are ineligible to   receive Federal Student Aid.

Enrollment Status

The number of hours for which a student is enrolled at the end of the add/drop period (first five class days of the semester) determines his/her status as a full-time or part-time student. Changes in status must be approved in advance by the Dean of Admissions.

Refund Policy

Withdrawal occurs when a student officially discontinues enrollment in ALL classes and activities of the College. A withdrawal notice from the Registrar’s Office where the official drop date is recorded will authorize refunds.

Incoming Students

Students who are accepted to attend the College and subsequently cancel their admission or fail to complete the acceptance process are not eligible for a refund of the acceptance fee, as stated in the acceptance documents. Room and Board (that has been paid in cash, as opposed to work credit*) is refunded at 100% if admission is canceled BEFORE the first day of class. 

Current Students

BEFORE CLASSES BEGIN: Current students who officially withdraw BEFORE classes begin will receive a refund of 100% for Health/Technology/Services Fee**, Room and Board (that have been paid in cash, as opposed to work credit*), and the Security Deposit (designed to reimburse the College for damages to a residence hall room or furnishings), less any assessment for damage or other amounts due.

Students who officially withdraw AFTER classes begin will receive refunds as indicated below:

UNTIL FRIDAY OF THE TENTH WEEK OF THE SEMESTER: Room and Board (meal) charges and work will be prorated based on date of withdrawal. Prorated amounts of Room and Board charges paid in cash will be refunded; prorated amounts of Room and Board work credit will not be refunded.

AFTER FRIDAY OF THE TENTH WEEK OF THE SEMESTER: After this deadline, no refund of Room charges will be made.

Also after this deadline, the student remains responsible for, and will be charged for, the remainder of the unfulfilled 280 work hour obligation.

*Scholarship funds credited to the student’s account because of participation in the summer work scholarship program, or elective work week program, are credited only to room and board; these funds are never refunded but will be applied against any future room and/or board at the College.

**Health/Technology/Services Fee: No refund will be made for official withdrawal on or after the first day of the semester. Additionally, the Health/Technology/Services Fee will not be refunded to students who fail to appear for class without an official withdrawal.

Security Deposit: Refund will be made for official withdrawal throughout the semester, provided the check-out procedure has been completed with the resident assistant, less any assessment for damage or other amounts due. 

Commuting Students and/or Part-Time Students

Students who officially withdraw BEFORE classes begin will receive a refund of 100% for Cost of Education and Health/Technology/Services Fee charges, less any other amounts due. Students who officially withdraw AFTER classes begin will receive refunds as indicated below:

Cost of Education, Part-Time Class Charges, and Work Charges: Charges will be pro-rated based on date of withdrawal, up to 60% of each semester. After this deadline, no refund will be made.

Health/Technology/Services Fee: No refund will be made for official withdrawal on or after the first day of the semester. Additionally, the Health/Technology/Services Fee will not be refunded to students who fail to appear for class without an official withdrawal.

Refund distribution for all resident and commuting students will be made in the following order: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, other federal sources of aid, state aid, private and institutional sources. If the student made the payment to the College in cash, the refund will be made to the student. If the payment was made by scholarship from an outside organization, the refund will be made to the awarding organization. If the payment was made by a scholarship from College of the Ozarks, the scholarship will be canceled.

All financial obligations to the College must be cleared before the student can receive a diploma or transcript.

Change of Status Refund Policy

Full-time students who drop to part-time status after the fifth (5th) day of the semester are liable for the full 280 hours of student labor (which may either be worked or paid in cash at the discretion of the Dean of Work Education). Any change in status must be approved by the Dean of Admissions in advance. Students who are approved for off-campus status during the current semester are responsible for paying the full amount of room and board that semester.

Duplicate Scholarship Refund Policy

In the event that a student is awarded duplicate room and board scholarships (either full or partial), the resulting credit in the student’s account may be used as follows:

• to cover room and board charges, Cost of Education (if the student becomes part-time), Health/Technology/Services Fees, and to buy books.
• request the scholarship be applied to following semester, as applicable.

Federal Title IV Refund Policy

1. Purpose
   In order to be eligible for and retain Federal Student Aid funds, students must maintain enrollment in classes for the entire semester. Failure to do so results in a recalculation of aid funds and may result in a return of unearned Federal Student Aid Funds.
    
2. Policy
   In accordance to Federal Student Aid regulations, College of the Ozarks has established procedures to allow for the recalculation of Federal Student Aid Return of Title IV Funds (R2T4) for students who officially or unofficially withdraw from classes.
    
3. Procedures

1. Determination of Withdrawal or Failure of Classes 

The amount of federal student aid earned by the student will be recalculated if the student:

a. completely withdraws from College, or

b. ceases attendance in classes before the semester is completed, or

c. does not complete all classes for the semester, or

d. fails all classes for the semester, or

e. fails and drops all classes for the semester, or

2. Determination of Withdrawal Dates

 The withdrawal date used for official withdrawals for the R2T4 calculation will be:

a. the official date of withdrawal as recorded by the Registrar’s Office. 

 The withdrawal date used for unofficial withdrawals for the R2T4 calculation will be: 

b. the last date of attendance (LDA), as recorded by the institution

c. if an LDA is unavailable, the midpoint of the semester will be used as the LDA

• Note: the LDA is recorded by the faculty member based on actual attendance of the last date the student was involved with an academically related activity.

3. Earned and Unearned Federal Student Aid Funds
A student earns a percentage of student aid (earned aid) each day the student attends classes.

1. If a student attends classes for at least 60% of the semester, the R2T4 calculation will be used to determine the amount of aid earned.
2. If a student attends classes less than 60% of the semester, the R2T4 calculation will be used to determine the amount of aid earned.
3. If Federal Student Aid funds have been credited to the student’s account, and the student attended less than 60% of the semester, the student’s account will be debited for the appropriate ineligible amount of aid (unearned aid).
4. If a student’s account is credited with Federal student Aid funds, and the institution learns the student never attended classes, all Federal Student Aid funds will be returned to the appropriate program.

4. Failing Grades

1. A student must pass at least one class for the semester. Otherwise, the institution must determine if the student established eligibility for the aid funds disbursed via attendance and/or participated in an academically related activity as is also noted in (C)(2).
2. Unless the student attended for the entire semester, if all classes are failed and/or dropped, an R2T4 calculation must be performed using the LDA.
3. Once all grades are posted for the semester, the financial aid office will determine which students are subject to R2T4 calculations and collect the appropriate LDA information.
4. Financial aid is paid with the expectation that the student will attend for the entire semester and receive a passing grade for classes attended or, if a class is failed, have attended the entire semester and simply failed the class.

5. Notification of R2T4 Results
A notification regarding the amount of earned and unearned Federal Student Aid funds determined via the R2T4 calculation will be mailed to the student.

1. Unearned funds will be debited (charged) to the students account at the College.

6. Return of Federal Student Aid Funds
Any funds determined to be returned to Federal Student Aid will be done so by the College in the following order:

1. Federal Pell Grant
2. Federal Supplemental Educational Opportunity Grant

7. Refund Calculation Example
In order to provide a clearer understanding of how an R2T4 calculation may impact a student, the following example is provided.

A student begins attendance in classes for a semester with 108 days in the semester. The student is scheduled to receive a Federal Pell Grant in the amount of $2,887, as a full-time student. After completing 23 days of the semester, the student withdraws from classes. Since the student completed 21.3% of the days in the semester (23/108 = 21.3%), the student is eligible for 21.3% of the Federal Pell Grant awarded or $614.93 (2,887 x 21.3% = $614.93).

In the example above, if the student has not received any of the Federal Pell Grant funds, the $614.93 is applied towards the student’s account balance at the College. The ineligible amount of $2,245.07 must be repaid to the Federal Pell Grant Program.