[Oasfaa] <<EXTERNAL E-MAIL>> 2024-2025 OTAG Allocations

[Magee, Irala]

-- THIS E-MAIL WAS RECEIVED FROM AN EXTERNAL SOURCE--
Good afternoon!
(My apologies to those of you that receive this message twice. I am sending it to my contact list and also the OASFAA listserv.)

At their May 31st  meeting, the Oklahoma State Regents for Higher Education approved an allocation of $17 million for the Oklahoma Tuition Aid Grant (OTAG) program in 2024-2025, the same amount that was approved for 2023-2024. The attached spreadsheet shows the 2024-2025 allocations to each institution participating in OTAG. The percentages used to allocate the funds, based on 2019-2020 actual OTAG expenditures, remain unchanged. Please note that this will be the third year for the same allocation percentages. We will be reviewing the efficiency and effectiveness of this allocation method this year.

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 2024-2025 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, 2025.

It is important to claim your full allocation by June 30, 2025, as any remaining monies will not carry over into your 2025-2026 allocation.

A couple of pieces of legislation passed this session affects the pool of eligible applicants: Senate Bill 11 makes certain incarcerated individuals eligible for OTAG and Senate Bill 1624 extends eligibility to students enrolled in comprehensive transition and postsecondary (CTP) programs that have been approved by the United States Department of Education. Please carefully review the 2024-2025 OTAG Handbook, when available, for the specific eligibility requirements for incarcerated students.

Be sure and join us for the Scholarships and Grants Workshop on July 18 for more details. To register:
https://www.surveymonkey.com/r/ScholarsGrantsWkshp24 .

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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