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Student Financial Services
North Foundation Hall, Room 120
318 Meadow Brook Road
Rochester,
MI
48309-4454
(location map)
(248) 370-2550
Have your Grizzly ID ready
finservices@oakland.edu
M-F 8 a.m. - 5 p.m.
Undergraduate Students
T o receive full consideration for all programs, all students should complete the Free Application for Federal Student Aid (FAFSA) every year, as soon as possible after October 1 for the next school year. Awards depend on the availability of funds.
Students can expect to receive financial aid award notifications beginning in December for the next school year. OU Student Financial Services sends an award notification to the OU email address with instructions for viewing awards on MySAIL. In case of a change to an award, OU Student Financial Services sends a revised award notification to the OU email address with instructions for viewing awards on MySAIL.
Awards
- Amount: Full tuition for four years
- Requirements
- High school GPA: 3.90 or higher
- SAT score: 1450 or higher
- ACT composite score: 33 or higher
- Amount: $40,000 for four years ($10,000 per year)
- Requirements
- High school GPA: 3.90 or higher
- SAT score: 1390-1440
- ACT composite score: 31-32
- Amount: $24,000 for four years ($6,000 per year)
- Requirements
- High school GPA: 3.90 or higher
- SAT score: 1260-1380
- ACT composite score: 27-30
OR - High school GPA: 3.80-3.89
- SAT score: 1260 or higher
- ACT composite score: 27 or higher
- Amount: $16,000 for four years ($4,000 per year)
- Requirements
- High school GPA: 3.80 or higher
- SAT score: 1200-1250
- ACT composite score: 25-26
OR - High school GPA: 3.7-3.79
- SAT score: 1200 or higher
- ACT composite score: 27 or higher
- Amount: $12,000 for four years ($3,000 per year)
- Requirements
- High school GPA: 3.70 or higher
- 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
- Amount: $6,000 for four years ($1,500 per year)
- Requirements
- High school GPA: 3.40 or higher
- SAT score: 1030-1120
- ACT composite score: 20-22
OR - High school GPA: 3.0-3.39
- SAT score: 1030 or higher
- ACT composite score: 20 or higher
- 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
- Amount: In-state tuition rates
- Requirements
- High school GPA: 2.5 or higher
- U.S. citizen (citizens of Canada and Mexico seeking an F-1 visa may also qualify)
- Non-Michigan resident
- Recipient must live in university housing for their first two years
To be considered for need-based grants, entering freshmen who are Michigan residents must complete the FAFSA and fulfill all financial aid requirements by July 1 prior to matriculation. Entering freshmen Michigan residents who have financial need as determined by the completion of the FAFSA will automatically be considered for OU grants. *Grant amounts are dependent upon the financial need established by completing the FAFSA.
GOLDEN GRIZZLIES TUITION GUARANTEE: 100% tuition grant for up to four years*
Eligible incoming freshmen can attend Oakland University free for four years. That means you can focus on your degree and your future — without worrying about how to pay for it. Find out if you qualify today. Recipients must have an expected family contribution (EFC) less than $12,000.
GOLDEN GRANT: Up to $20,000 for four years ($5,000 per year)*
Awarded to students with a high school GPA of 3.0 or higher. Recipients must have an expected family contribution (EFC) of less than $12,000.
HOUSING GRANT: Up to $20,000 for four years ($5,000 per year)*
Awarded to students with a high school GPA of 3.0 or higher and a score of 1030 or higher on the redesigned SAT (or ACT composite score of 20 or higher). Recipients must live in on-campus housing, have full semester on-campus housing charges not covered by another housing award and have an expected family contribution (EFC) of less than $12,000.
Awards
To be considered for scholarships, entering transfer students must apply and submit all admission materials by August 1 (for fall transfers) or December 1 (for winter transfers).
If you meet these deadlines, you will automatically be considered for OU scholarships. Awards are based on your academic record, including GPA, at the time of application. International students are not eligible for scholarships, except where reflected.
PRESIDENTIAL TRANSFER AWARD: $10,000 for two years ($5,000 per year)
Awarded to new transfer students from a Michigan community college with a GPA of 3.80 or higher and 56 or more transferable credits. Note that 56 transferable credits must be earned by the scholarship deadline.
PHI THETA KAPPA AWARD: $5,000 for two years ($2,500 per year)
Awarded to new community college transfer students with a GPA of 3.80 or above and 24-55 transferable credits, OR with a GPA of 3.50-3.79 and 24 or more transferable credits. Also awarded to new transfer students from a four-year college or university with a GPA of 3.50 or higher and 24 or more transferable credits. Note that 24 transferable credits must be earned by the scholarship deadline.
TALENTED TRANSFER AWARD: $2,000 for two years ($1,000 per year)
Awarded to new transfer students with a college GPA of 3.0-3.49 and 24 or more transferable credits. Note that 24 transferable credits must be earned by the scholarship deadline.
NON-RESIDENT AWARD: In-state tuition rates for two years
Awarded to transfer students with a college GPA of 2.5 or higher who are not Michigan residents. The award allows U.S. citizens to pay in-state tuition rates. Citizens of Canada and Mexico who are seeking an F-1 visa may also qualify. Note that 24 transferable credits must be earned by the scholarship deadline.
OU TRANSFER GRANT: $2,000 for two years ($1,000 per year)
Awarded to new transfer students with an expected family contribution (EFC) of $0, and 24 or more transferable credits. Eligible incoming transfer students who have financial need (as determined by completion of the FAFSA) and fulfill all financial aid requirements by January 17, 2019 for winter or September 19, 2019 for fall, will automatically be considered for OU need-based grants.
& Scholarships
Scholarship
Renewal Criteria
Oakland University scholarships and grants are able to be renewed, provided students meet the criteria. Scholarships and grants are evaluated for renewal over the summer; students who attend full time during the summer semester and utilize their scholarship and/or grant will be evaluated for renewal after summer grades have posted. View examples and frequently asked questions of scholarship and grant renewal scenarios for help in understanding students' eligibility to renew their scholarships and/or grants after their first year. Answer the questions below to view the renewal criteria for scholarships and/or grants awarded in the year the student was first enrolled at OU; be sure to view the additional information following the renewal chart.
Aid
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 FSEOG page on the Federal Student Aid website.
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 types of 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. An online application is available at www.studentloans.gov. For information regarding interest rates and repayment terms, visit the PLUS loans page on the Federal Student Aid website. View Parent PLUS Loan application instructions.
Aid
Visit the State of Michigan website for information about Michigan grant programs.
Aid
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 2016-2017 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:
- Campus Door
- Citizens Bank
- College Avenue Student Loans
- Discover Education Loan
- LendKey
- PNC Bank
- Sallie Mae Smart Option Student Loan
- Sun Trust Custom Choice Loan
- Wells Fargo
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
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. Student borrowers with at least one Federal Direct Loan may wish to consider a Direct Consolidation Loan.
