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Oakland University Logo
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    Oakland University
   
 
  Oct 21, 2017
 
 
    
2011-2012 Graduate Catalog [ARCHIVED CATALOG]

Financial Assistance


 

Financial Aid Office
120 North Foundation Hall  (map)
2200 N. Squirrel Road
Rochester, Michigan 48309-4481
(248) 370-2550    • Fax (248) 370-4371
Email: finaid@oakland.edu  
http://www.oakland.edu/financialaid/  

 

There are many benefits to earning a graduate degree. Employees –and potential employees–can attain higher-level jobs at a higher rate of pay than those who possess only an undergraduate degree. An Oakland University graduate degree is valuable.

Oakland University is one of the most affordable universities in Michigan. The financial aid programs help students with their educational expenses. A variety of financial assistance options are available through Oakland University, federal, state, local and private sources. Complete information about the programs is available on the Oakland University Web site at www.oakland.edu/financialaid.

Note that Oakland University does not charge any fees. While other schools charge registration, recreation, course and other fees, Oakland University does not. At Oakland University, students pay one tuition rate per credit hour with no extra fees for anything.

Financial Aid Programs for Graduate Students

Oakland University offers many different financial aid programs to help graduate students pay for their educational expenses. To receive federal financial aid, students must be admitted and enrolled at Oakland University in an eligible graduate degree program, an eligible Graduate Certificate program, or an eligible Post-Master’s Graduate Certificate program.

Students who are preparing for admission to a graduate program are also eligible for federal financial aid (not to exceed 12 consecutive months) for courses to prepare for an eligible program.

Aid comes in the form of merit based (fellowships and scholarships) and self help (loans, work-study and assistantships). Self-help awards require repayment or a work obligation, whereas merit based assistance does not.

Sources of Financial Assistance

Financial Aid Policy
 

Contacting the Office

The Student Financial Services Office, located at 120 North Foundation Hall, includes financial aid, student billing inquiries, student employment and cashier’s office. The office is open from 8 a.m. to 5 p.m., Monday through Friday, and closed during holidays and holiday breaks.

Student Financial Services may be reached by phone at (248) 370-2550, e-mail at finaid@oakland.edu, or online at www.oakland.edu/financialaid.

Applying for Financial Aid and Scholarships

To be considered for financial aid, students must complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. To maximize the financial aid award package, complete the FAFSA as soon as possible after January 1 for the upcoming academic year. Since financial aid is awarded on a first come, first served basis, as funding is available, it is beneficial to apply early. Be sure to include Oakland University’s federal school code of 002307 on the FAFSA.

Admitted students are provided with an Oakland University e-mail address. Since financial aid is communicated to students through their Oakland University e-mail, it is important for admitted students to access their Oakland University e-mail on a regular basis.

Admitted students may choose to provide a different e-mail address on the FAFSA for the U.S. Department of Education. Because the student may be using multiple e-mail addresses, it is important that each account be checked regularly. It is important for the student to keep the FAFSA e-mail address updated in order to receive communications from them. Students must include their Social Security Number on the FAFSA for the U.S. Department of Education to process the application.

Although students are not required to provide a Social Security Number to Oakland University, it is required in order to be awarded federal and state financial aid and for student employment purposes. If Oakland University does not have the student’s correct Social Security Number, the financial aid application and/or request for student employment will not be processed. It is very important that your FAFSA be accurate. Inaccurate information can cause delays in processing. If income is estimated, corrections are required when the tax forms are completed. Initial inaccurate information can change a financial aid package.

Financial aid award notifications for the upcoming academic year are sent through the Oakland University e-mail address beginning in March. These notifications provide information concerning the amount and type of financial aid the student is eligible to receive.

Financial aid awards and adjustments continue as needed throughout the year as subsequent funding and information become available. Financial aid is initially offered for the regular academic year of fall and winter semesters. Students interested in receiving financial aid for the summer semester need to complete a Summer Financial Aid Application available on the Financial Aid Web site at www.oakland.edu/financialaid.

A FAFSA must be completed each year a student is interested in receiving financial aid.

Unusual Circumstances

Extenuating family circumstances, such as long term loss of employment or income, death, separation or divorce, or medical/dental expenses not covered by insurance, and dependent care or disability expenses can affect a student’s financial aid package. Students with extenuating circumstances can have their financial aid re-evaluated by completing an Unusual Circumstances Form, available on the Financial Aid Web site at www.oakland.edu/financialaid.

Enrollment

The following minimum enrollment requirements at Oakland University determine eligibility for financial aid each semester. Audit courses, competency credit courses, continuing education courses and courses not required for the current degree program do not count in enrollment status and do not qualify for financial aid.

 

Graduate programs/Graduate Certificates

  Full-time Half-time
Fall 8 or more credits 4-7 credits
Winter 8 or more credits 4-7 credits
Summer 8 or more credits 4-7 credits

 


Graduate preparatory coursework*

  Full-time Half-time
Fall 12 or more credits 6-11 credits
Winter 12 or more credits 6-11 credits
Summer 12 or more credits 6-11 credits

* Financial aid eligibility is based on required preparatory coursework only.


Billing and payments

Oakland University generates a bill each month for which there has been transaction activity of tuition, on-campus room and board and other related educational expenses billed through the student account or if there is a remaining account balance. Billing is done electronically and the bills may be viewed through the university SAIL Web system. An e-mail notice is sent to all students who have billing activity. Paper bills can be obtained by the student accessing SAIL and printing the bill. Finalized financial aid is reflected on the billing notice and deducted from charges.

Oakland University offers payment options. Financial aid is reflected on your electronic bill (eBill) and deducted from any university allowable charges, provided that all financial aid requirements are met. If you have an amount due and are expecting to obtain financial aid to pay your bill and your financial aid is not reflected on your bill, you must pay your bill by the due date.

Payment can be made through eBill at https://ebill.oakland.edu (you will need your Grizzly ID number and six-digit SAIL PIN) or in person at the Cashiers Office, by cash, check, debit card or credit card. Photo identification will be required.

Payments made from a business or corporate account will be reflected as an outside resource and counted as a financial aid resource when determining eligibility. Outside resources will be included in the federal 1098T issued at the end of the calendar year.

Cost of attending Oakland University

The cost to attend Oakland University includes tuition, books, room and board, transportation and personal/miscellaneous expenses. Costs are typically estimated because of the variety of the number of enrolled credits, housing options, class standing, etc. Financial aid packages are created based on an estimate of the average expected cost for a full-time student and a part-time student. For the current cost of attendance at Oakland University, visit http://www.oakland.edu/costofattendance.

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