[Oasfaa] 2023-2024 OTAG Allocations

[Magee, Irala]

Good morning!

At their May 26th meeting, the Oklahoma State Regents for Higher Education approved an allocation of $17 million for the Oklahoma Tuition Aid Grant (OTAG) program in 2023-2024, the same amount that was approved for 2022-2023. Since the funding level has not changed, the allocation to each institution in 2023-2024 is also unchanged from 2022-2023.  The attached spreadsheet shows the 2023-2024 allocations to each institution participating in OTAG. The percentages used to allocate the funds, based on 2019-2020 actual OTAG expenditures, also remain unchanged.  We expect these percentages will remain unchanged for the next year or two while this new "decentralized" method is implemented.

We are currently updating the OTAG forms and information on the OSRHE Financial Aid Resources for institutions site: http://www.okhighered.org/admin-fac/finaidresources/. The 2023-2024 OTAG Award Claim Form template, along with full instructions for completing the claim, will be available soon.

Please remember the primary student eligibility criteria: Oklahoma residents, Pell eligible (receiving Pell for the current payment period), and undergraduate students with sufficient need.  Other awarding priorities include students with the most unmet financial need, students enrolled in programs meeting high-demand employment needs, students nearest to completing a degree or certificate, students who have remained continuously enrolled, etc.

Do not forget that the allocations are annual and we recommend that you award and claim roughly half each semester (fall/spring). You can also choose to award OTAG for a summer trailer semester if you underspend or reserve some of your allocation for that purpose. If you choose to award summer OTAG, please remember we must have all summer claims submitted before June 30, 2024.

It is important to claim your full allocation by June 30, 2024, as any remaining monies will not carry over into your 2024-2025 allocation.

Please contact me if you have questions, or if I can be of assistance to you regarding the awarding of OTAG funds to your eligible students.

Irala K. Magee
Assistant Vice Chancellor for Scholarships and Grants
Oklahoma State Regents for Higher Education
P.O. Box 108850
Oklahoma City, OK  73101-8850
Phone: (405) 225-9378
Fax: (405) 225-9392

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