Undergraduate Students - Student Financial Services

Freshman Awards

Freshman Need-Based Grants - Class of 2021

To be considered for need-based grants, entering freshmen who are Michigan residents must complete the FAFSA and fulfill all financial aid requirements by the priority deadline of July 1 for fall, March 1 for summer and December 1 for winter. In light of the recent SAT and ACT test cancellations, we will continue to review updated scores for scholarship consideration after these priority scholarship deadlines (prior to your enrollment at OU). Entering freshmen Michigan residents who have financial need as determined by the completion of the FAFSA will automatically be considered for OU grants. The total amount of Oakland University institutional awards and benefits cannot exceed the cost of tuition (the Geographic Region Award and OU Housing Grant are not included in this limitation of OU awards and benefits).

GOLDEN GRIZZLIES TUITION GUARANTEE

Focus on your degree and your future — without worrying about how to pay for it.

Amount: Full tuition for up to four years*
Requirements
- Expected family contribution (EFC) of less than $8,000

GOLDEN GRANT

Amount: Up to $20,000 for four years ($5,000 per year)*
Requirements
- High school GPA: 3.0 or higher
- Expected family contribution (EFC) of less than $8,000

HOUSING GRANT

Amount: Up to $20,000 for four years ($5,000 per year)*
Requirements
- High school GPA: 3.0 or higher
- Expected family contribution (EFC) of less than $8,000
- Must live in university housing
- Must have full semester on-campus housing charges not covered by another housing award

*Grant amounts are dependent upon the financial need established by completing the FAFSA.

Freshman Merit Scholarships - Class of 2021

To be considered for merit scholarships, Oakland University must receive your admission application, transcript and SAT or ACT score (if applicable) by the priority deadline of March 1, 2021 for fall, December 1, 2021 for winter and July 1, 2022 for summer. In light of the recent SAT and ACT test cancellations, we will continue to review updated scores for scholarship consideration after these priority scholarship deadlines (prior to your enrollment at OU). If you meet these deadlines, you will automatically be considered for OU scholarships. Scholarship awards are based on your academic record, including GPA and SAT or ACT (if applicable) score, at the time of admission. You may submit updated transcripts and/or test scores for scholarship reconsideration until the scholarship deadline. International students are not eligible for OU scholarships, except where reflected. The total amount of Oakland University institutional awards and benefits cannot exceed the cost of tuition (the Geographic Region Award is not included in this limitation of OU awards and benefits). Awards may not be “stacked,” except where noted.

PLATINUM PRESIDENTIAL SCHOLAR AWARD

Amount: $48,000 for four years ($12,000 per year)
Requirements
- High school GPA: 3.90 or higher
- SAT score: 1450 or higher
- ACT composite score: 33 or higher

GOLD PRESIDENTIAL SCHOLAR AWARD

Amount: $36,000 for four years ($9,000 per year)
Requirements
- High school GPA: 3.90 or higher
- SAT score: 1390-1440
- ACT composite score: 31-32

DISTINGUISHED SCHOLAR AWARD

Amount: $22,000 for four years ($5,500 per year)
Requirements
- High school GPA: 3.90 or higher
- SAT score: 1300-1380
- ACT composite score: 28-30
  OR
- High school GPA: 3.80-3.89
- SAT score: 1300 or higher
- ACT composite score: 28 or higher

TALENTED SCHOLAR AWARD

Amount: $14,000 for four years ($3,500 per year)
Requirements
- High school GPA: 3.80 or higher
- SAT score: 1200-1290
- ACT composite score: 25-27
  OR
- High school GPA: 3.7-3.79
- SAT score: 1200 or higher
- ACT composite score: 25 or higher
  OR
- High school GPA: 3.9 or higher
- No test score (or a score of up to 1190 on the SAT / 24 on the ACT)

ACADEMIC ACHIEVEMENT AWARD

Amount: $8,000 for four years ($2,000 per year)
Requirements
- High school GPA: 3.70-3.89
- SAT score: 1130-1190
- ACT composite score: 23-24
  OR
- High school GPA: 3.4-3.69
- SAT score: 1130 or higher
- ACT composite score: 23 or higher
  OR
- High school GPA: 3.85-3.89
- No test score (or a score of up to 1190 on the SAT / 24 on the ACT)

UNIVERSITY RECOGNITION AWARD

Amount: $4,000 for four years ($1,000 per year)
Requirements
- High school GPA: 3.0-3.84
- No test score required

GEOGRAPHIC REGION AWARD

Amount: $6,000 for four years ($1,500 per year)
Requirements
- High school GPA: 3.0 or higher
- Resident of Michigan counties outside of Macomb and Oakland who wish to live on campus
- Must live in university housing

NON-RESIDENT AWARD

Amount: In-state tuition rates
Requirements
- High school GPA: 2.5 or higher
- U.S. citizen (citizens and permanent residents of Canada and Mexico may also qualify)
- Non-Michigan resident
- Must live in university housing for their first two years

Transfer Awards

To be considered for scholarships, entering winter transfer students must apply and submit all admission materials to the university by the priority deadline of December 1; entering summer transfer students must apply and submit all admission materials by the priority deadline of July 1; entering fall transfer students must apply and submit all admission materials by the priority deadline of August 1.

If you meet these priority deadlines, you will automatically be considered for OU scholarships. Awards are based on your academic record, including cumulative GPA, at the time of application. U.S. citizens and permanent residents qualify for OU scholarships; international students are not eligible for OU scholarships, except where reflected . Students may only receive one academic merit scholarship (except the non-resident award, if applicable). The total amount of Oakland University institutional awards and benefits cannot exceed the cost of tuition.

Eligible incoming transfer students who have financial need (as determined by completion of the FAFSA) and fulfill all financial aid requirements by December 1 for winter, July 1 for summer or August 1 for fall, will automatically be considered for OU need-based grants.

Community college students or graduates: are you currently working on the front lines? If so, you may qualify for OU's Frontline Workers Scholarship.

PRESIDENTIAL TRANSFER AWARD

Amount: $10,000 for two years ($5,000 per year)
Requirements
- College GPA: 3.80 or higher
- 56 or more transferable credits*
- Must be coming from a Michigan community college

PHI THETA KAPPA AWARD

Amount: $5,000 for two years ($2,500 per year)
Requirements for community college students
- College GPA: 3.80 or higher
- 24-55 transferable credits*
  OR
- College GPA: 3.50-3.79
- 24 or more transferable credits
Requirements for four-year college or university students
- College GPA: 3.50 or higher
- 24 or more transferable credits*

TALENTED TRANSFER AWARD

Amount: $2,000 for two years ($1,000 per year)
Requirements
- College GPA: 3.0-3.49
- 24 or more transferable credits*

NON-RESIDENT AWARD

Amount: In-state tuition rates for two years
Requirements
- College GPA: 2.5 or higher
- Non-Michigan resident
- U.S. citizen (citizens and permanent residents of Canada and Mexico may also qualify)
- 24 or more transferable credits*

OU TRANSFER GRANT

Amount: $2,000 for two years ($1,000 per year)
Requirements
- Expected family contribution (EFC) of $0
- 24 or more transferable credits*

*Transferable credits must be earned by the scholarship deadline.

Federal and State Aid

Federal Grants
Undergraduate students are eligible for the Pell Grant. To view eligibility criteria, annual amounts, and aggregate limits, visit the grants page on the Federal Student Aid website.

The Federal Supplemental Educational Opportunity Grant (FSEOG) is awarded to undergraduate students with exceptional need and based on the availability of funds. For information regarding eligibility criteria and annual amounts visit the grants page on the Federal Student Aid website.

Federal Work-Study
Available to undergraduate and graduate students, work-study awards are wages that can be earned through a campus job and does not have to be repaid. Funds are limited and awarded on a first-come, first-served basis according to a student's financial need. Visit Handshake to search and apply for student employment positions.

Federal Loans
Student loans

An undergraduate student can receive federal loans without a co-signer. The most commonly awarded loans for undergraduate students are the Federal Direct Subsidized and Federal Direct Unsubsidized loans, which are awarded based on a student's financial need. The Federal Perkins loan is a limited fund awarded on a first-come, first-served basis according to a student's financial need. For more information about annual and aggregate limits, interest rates, and repayment visit the loans page on the Federal Student Aid website.

Parent loans

Parents of dependent undergraduate students are able to apply for a Federal Direct Parent PLUS loan. The Parent PLUS loan is approved or denied based on the parent's credit, and if approved, the parent is responsible for repayment. If a parent is denied for a loan based on credit, an additional amount of the Unsubsidized loan will be awarded in the student's name. For information regarding interest rates and repayment terms, visit the loans page on the Federal Student Aid website. View Parent PLUS Loan application instructions and apply.

State Aid
The State of Michigan website provides a wealth of information about Michigan grant programs.

Also view information about Michigan’s several 529 college savings programs.

Private Aid

Private Scholarships
Private scholarships are abundantly available for students from organizations, foundations, companies, and individuals. Students can increase the probability they will be selected for private scholarships by increasing the number of applications submitted. Search for private scholarships on large online databases called clearinghouses, such as:

CollegeBoard.org
Fastweb.com
Goodcall.com
CareerOneStop.org

Private Loans
Choose loan programs you can live with long term. Government loan programs usually offer lower interest rates and more flexible repayment plans than most private/alternative loans. Maximize your borrowing from all federal loans before considering supplemental funds from a private loan. The limit on a private loan is equal to the cost of education minus other awarded financial aid.

A number of banks and lending institutions offer private loan funding to assist students with the cost of education. A co-signer may be required, depending on the student's credit history and credit worthiness. Borrow wisely and compare lenders to make a smart, long-term choice. Be wary of private loan offers which discourage you from working with your financial aid office, offer introductory rates, do not tie the loan interest rate to a fixed percentage of LIBOR or PRIME rate, or claim that you can apply and receive money immediately. OU will certify a private loan from any private lender. Many private loan options are available and students can choose to apply for a private loan with any banking institution of their choice. If students need to utilize loans, it is best to exhaust all federal loan options before seeking a private loan. Read more about federal and private loan options.

The following list represents lenders who provided loans to 5 or more Oakland University students according to a recent analysis of loans for the 2019-2020 year. This private lender list (arranged in alphabetical order) is reviewed periodically and is subject to change. Oakland University does not receive inducements or incentives from any private lender. Oakland University does not have relationships or agreements with any of the lenders listed here:

Consider these factors when shopping for a lender:

Eligibility

Undergraduate, Graduate, Professional Development, Certification
Satisfactory Academic Progress (SAP)
Enrollment Requirements – ie., less than half-time
International Students

Interest rate

With or without a co-borrower (co-signer)
Interest adjusted when and how

Fees

Origination fees and other charges
Prepayment
Late fees

Borrower benefits

Direct Debit
Co-borrower release
Graduation reward

Repayment terms

When does repayment begin?
Can principal and interest be deferred?
When is interest capitalized?
Maximum repayment period

Loan limits

Minimum loan amount
Annual and aggregate loan limits
Allow loans for past balances (if applicable)

Service

Responsive customer service
Student focused

Loan Consolidation

Consolidation loans combine several loans, with various repayment schedules, into one loan, requiring you to make only one monthly payment. The interest rate on a consolidation loan also may be lower than what you're currently paying on one or more of your loans. If you have at least one Federal Direct Loan, you may want to consider a Direct Consolidation Loan after you graduate from college but before you begin repayment of your loans.