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.
Extended hours, open until 6:30 p.m. on: April 25, May 3, May 18, July 5, July 12

Student Account Refunds

General
Info
Refund Processing Schedule  
  • Checks: Mailed on Fridays
  • Direct Deposit: Wednesdays and Fridays

Students who elect to receive their refund by direct deposit (recommended) will generally receive their refund 3 to 5 business days from the date the refund shows as processed on the student account. Students who elect to receive their refund by check will generally receive their refund 1 to 3 weeks from the date the refund shows as processed on the student account. Refund checks are mailed to the current address on file.


Direct Deposit  

Students are strongly encouraged to enroll in Non-Payroll Direct Deposit (used for financial aid refunds), as it is the safest, most secure way to receive refunds. To elect to have your refund direct deposited, please visit the Direct Deposit web page.


Financial Aid Refunds  

When the amount of financial aid paid to a student account exceeds tuition and University Housing room and board, a refund will be issued to the student within 14 days of the disbursement of aid. Financial aid cannot be used to to pay all charges. Some charges can be covered by financial aid if you provide an authorization. Other charges cannot be covered by financial aid at all. It is your responsibility to know which charges must be paid out-of-pocket by the payment due date in order to avoid cancellation.

If a refund is issued while there are unpaid charges on the account, a hold will be placed on the account to prevent diplomas, online registration, transcripts, or other statements of record. If any charges are incurred on the account after financial aid has been refunded, it is the student's responsibility to pay the additional charges by the next payment due date.


Payment Plan Installment, Overpayments, Dropped Courses, Etc. Refunds  

Credit balances resulting from payment plan installments made before the disbursement of financial aid and credit balances resulting from overpayments, dropped course, etc. will be processed after the 100% tuition refund date. It could take 1 - 3 weeks after the 100% tuition refund date to process your refund.

  • Refund of Online Debit or Credit Card Payment: If a payment is made on a student account by credit card, the refund will be issued to the original credit card. Students must keep in mind that it can take the credit card company up to 3 weeks to complete their part of the refund process. Students must keep in mind that debit and credit card payments are made via a third party processor who assesses a convenience charge for each payment transaction. This convenience charge is not refundable under any circumstance.
  • Refund of Cash Payment: If a payment is made on a student account by cash, the refund will be issued by check or direct deposit.
  • Refund of Check/ACH/eBill Electronic Check (Online Checking/Savings) Payment: If a payment is made on a student account by check, the refund will be issued by check or direct deposit. Students must keep in mind that we will not refund payments made by check until 21 days after the payment has been posted to their student account.

Escheats/Unclaimed Property (Un-Cashed Checks)  

Per State of Michigan regulations, all un-cashed payroll and refund checks (except for federal financial aid funds) are to be escheated (sent) to the State of Michigan. Oakland University escheats these checks when they become one year old.


Federal Regulations stipulate that if a refund check that resulted from the application of federal financial aid funds is due to escheat to the State of Michigan, the university must instead return the federal funds to the appropriate aid program. Oakland University returns un-cashed federal financial aid refunds on a monthly basis.

Please cash your refund check in a timely manner to avoid having to contact the State of Michigan or Oakland University to retrieve funds that were escheated and/or to avoid losing financial aid funds that you were eligible for at the time of disbursement.


For more information regarding specific policies, see Financial Aid Policies & Conditions and the Tuition & Refund Policy.  


Refunds
Summer Semester 2018
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after May 18, 2018). It could take 1 - 3 weeks after the 100% tuition refund date to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the payment due date (April 15, 2018), you may enroll in a payment plan by the payment due date.
  • You will receive a financial aid refund as long as your financial aid has paid to your student account and exceeds the amount of your charges. Go to "Financial Aid and Your Bill" to determine when the financial aid will pay to your account.
    • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent.     

Once processed, refunds are typically received within:

  • 3-5 business days from the date the refund shows as processed on your student account if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows as processed on your student account if you receive a check through the postal mail.

Fall Semester 2018
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after September 18, 2018). It could take 1 - 3 weeks after the 100% tuition refund date to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the payment due date (August 15, 2018), you may enroll in a payment plan by the payment due date.
  • You will receive a financial aid refund as long as your financial aid has paid to your student account and exceeds the amount of your charges. Go to "Financial Aid and Your Bill" to determine when the financial aid will pay to your account.
    • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent.   

Once processed, refunds are typically received within:

  • 3-5 business days from the date the refund shows as processed on your student account if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows as processed on your student account if you receive a check through the postal mail.

Winter Semester 2019
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after January 17, 2019). It could take 1 - 3 weeks after the 100% tuition refund date to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the payment due date (December 15, 2018), you may enroll in a payment plan by the payment due date.
  • You will receive a financial aid refund as long as your financial aid has paid to your student account and exceeds the amount of your charges. Go to "Financial Aid and Your Bill" to determine when the financial aid will pay to your account.
    • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent.  

Once processed, refunds are typically received within:

  • 3-5 business days from the date the refund shows as processed on your student account if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows as processed on your student account if you receive a check through the postal mail.