Ibrahim Gardner
Oakland University offers a robust financial aid program to its students, with more than half of the student body receiving financial support. The university's financial aid program is 26% higher than the average for public schools, making it a competitive option for prospective students. The university offers various forms of financial aid, including scholarships, grants, and loans, with 81% of students opting for federal loans and only 1% taking out private loans. The average annual federal loan amount is $5680, which is lower than the average for public schools. The university also provides automatic scholarships and grants to incoming freshmen and transfer students, with over 350 annual endowed scholarships available.
| Characteristics | Values |
|---|---|
| Percentage of students receiving financial aid | More than 50% |
| Total amount of financial aid received by students | $175 million |
| Average need-based scholarship or grant awarded to first-year students | $12,138 |
| Average non-need-based scholarship or grant awarded to first-year students | $3,719 |
| Percentage of financial aid need met by Oakland University | 47% |
| Average need-based self-help aid awarded to first-year students | $2,448 |
| Maximum Fostering Futures Scholarship award | Determined annually by MI Student Aid |
| Michigan Achievement Scholarship award | $5,500 |
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What You'll Learn
Oakland University scholarships and grants
Oakland University offers a variety of scholarships and grants to its students. More than half of the students at Oakland University receive financial aid, totalling over $150 million each year, with an average award of over $7,000 per student per year. The university offers institutional aid, grants, scholarships, loans, work-study jobs, and campus employment.
Oakland University Scholarships
Oakland University offers various scholarships to its students, including merit-based and need-based scholarships. To be considered for merit-based scholarships, students must submit their admission application, transcript, and SAT or ACT scores by the priority deadline. Awards are based on academic records, including GPA and SAT or ACT scores. OU scholarships are automatically offered to incoming freshmen and transfer students during the admissions process.
The university offers the Pescovitz Presidential Scholarship, which is available to Platinum Presidential Scholar Award recipients. The university also offers the Don R. Iodice Grant-in-Aid for Foreign Study, established by Professor Iodice and supported by alumni, friends, family, and the Department of Modern Languages and Literatures. The Donald C. Hildum Endowed Scholarship is another option for communication majors, established in honour of Dr Don Hildum, a founding member of the Department of Communications and Journalism.
Oakland University Grants
Oakland University provides several grant opportunities for its students. The university offers need-based grants for entering first-year students who are Michigan residents and complete the FAFSA by the specified deadlines. The Don R. Iodice Grant-in-Aid for Foreign Study is another grant option for students interested in studying abroad. The university also offers the Federal Pell Grant for undergraduate students with exceptional financial need who have not earned a bachelor's degree.
Other Financial Aid Options
In addition to scholarships and grants, Oakland University provides other financial aid options, including loans, work-study jobs, and campus employment. The university encourages students to explore federal loan options before seeking private loans. Work-study jobs and campus employment can provide students with an income to help cover their educational expenses.
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Federal aid
More than half of Oakland University students receive financial aid, totalling over $150 million each year. Oakland University disburses this financial aid in various forms, including scholarships, grants, loans, and work-study jobs.
- Federal Pell Grant: The Federal Pell Grant is offered to undergraduate students who have not earned a bachelor's degree and demonstrate exceptional financial need. The Student Aid Index (SAI) and poverty guidelines are used to determine eligibility. The grant amount is prorated if the student enrols in fewer than 12 credits each semester.
- Federal Student Loans: Oakland University recommends that students explore federal loan options before opting for private loans. Federal student loans typically offer more favourable terms and conditions than private loans.
- Free Application for Federal Student Aid (FAFSA): The FAFSA is a critical step for students seeking financial aid. By completing the FAFSA, students become eligible for financial aid from Oakland University, the State of Michigan, and the federal government. The FAFSA is used to determine eligibility for need-based grants and scholarships offered by the university.
- Michigan Indian Tuition Waiver: This waiver is available for students who can document their eligibility. The total combined amount of a student's financial aid awards and this waiver may not exceed the total cost of attendance established by Oakland University.
- Other State and Federal Scholarships: Oakland University students may also be eligible for various state and federal scholarships, such as the Michigan Achievement Scholarship and the Fostering Futures Scholarship. These scholarships are typically awarded based on financial need and academic merit.
In summary, federal aid plays a significant role in funding Oakland University students' education. By offering grants, loans, and scholarships, the federal government provides essential support to students in need. Additionally, the FAFSA serves as a crucial gateway to accessing financial assistance from multiple sources, making it a vital step in the financial aid process.
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Institutional aid
Oakland University offers institutional aid in the form of scholarships, grants, and tuition waivers. The total amount of Oakland University institutional awards and tuition waiver benefits cannot exceed the cost of tuition. However, the Geographic Region Award, the OU Housing Grant, and OU departmental and endowed awards are not included in this limitation.
To be considered for merit-based scholarships, Oakland University typically requires students to submit their admission application, transcript, and SAT or ACT scores by the priority deadline of March 1 for fall, December 1 for winter, and July 1 for summer. Awards are based on academic records, including GPA and SAT or ACT scores. International students are generally not eligible for OU scholarships, with some exceptions.
Oakland University also offers need-based grants. Entering first-year students who are Michigan residents must complete the FAFSA and fulfill all financial aid requirements by the same priority deadlines as merit-based scholarships. Eligible incoming transfer students with financial need, as determined by the FAFSA, will automatically be considered for OU need-based grants.
In addition to institutional aid, Oakland University students may also receive financial aid from the State of Michigan and the federal government. The Federal Pell Grant, for example, is available for undergraduate students who demonstrate exceptional financial need.
Overall, more than half of Oakland University students receive financial aid, totaling over $175 million annually. The university's institutional aid program is considered relatively competitive, with 26% more students receiving institutional aid compared to the average public school.
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Merit scholarships
More than half of Oakland University students receive financial aid, totaling over $150 million per year. Oakland University offers scholarships, grants, loans, work-study jobs, and campus employment as part of its financial aid program.
Oakland University offers merit scholarships to students based on their academic record, including their GPA and SAT or ACT scores. To be considered for a merit scholarship, students must submit their admission application, transcript, and SAT or ACT scores (if applicable) by the specified priority deadlines: March 1 for fall, December 1 for winter, and July 1 for summer. Students are automatically considered for OU scholarships, and awards are based on their academic performance at the time of admission. Test superscores are not considered for scholarship awards. However, students can submit updated transcripts and test scores for scholarship reconsideration.
International students are generally not eligible for OU scholarships, with some exceptions. Students can only receive one academic merit scholarship, except for the Non-Resident Award and Geographic Region Award, if applicable. Additionally, the total amount of Oakland University institutional awards and tuition waiver benefits cannot exceed the cost of tuition.
Oakland University offers several notable merit scholarship opportunities:
- The Pescovitz Presidential Scholarship: This scholarship is available to Platinum Presidential Scholar Award recipients, who can apply for this competitive full-tuition scholarship.
- Michigan Achievement Scholarship: Michigan high school graduates from the classes of 2023, 2024, and 2025 may be eligible for this scholarship, valued at up to $5,500 per year at a public university.
- Fostering Futures Scholarship: This scholarship is for students who have experienced foster care in Michigan on or after the age of 13 and can demonstrate financial need. The maximum award amount is determined annually by MI Student Aid.
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Need-based grants
More than half of all Oakland University students receive financial aid, totaling over $175 million annually. The university offers a range of need-based grants to eligible students. To be considered for need-based grants, entering first-year students who are Michigan residents must complete the FAFSA (Free Application for Federal Student Aid) and fulfill all financial aid requirements by the priority deadline of March 1 for fall, December 1 for winter, and July 1 for summer.
The FAFSA is used to determine a student's financial need, and awards from all sources cannot exceed this need and/or the cost of attendance. Oakland University offers institutional awards, tuition waiver benefits, and departmental and endowed awards. The total amount of these awards cannot exceed the cost of tuition, and students may only receive one academic merit scholarship (except for the Non-Resident Award and Geographic Region Award, if applicable).
The university also offers the Michigan Achievement Scholarship to Michigan residents with a family income of less than or equal to $70,000 and assets less than $50,000, as determined by the FAFSA. Additionally, eligible incoming transfer students who demonstrate financial need and fulfill all financial aid requirements by the specified deadlines will automatically be considered for OU need-based grants.
Oakland University also provides information and assistance with government financial aid, including the Federal Work Study Program, which offers funds for part-time employment to help students finance their education. Furthermore, students with foster care experience in Michigan on or after the age of 13 may qualify for the Fostering Futures Scholarship, which requires an annual application and demonstration of financial need.
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Frequently asked questions
More than half of the students at Oakland University receive financial aid, which totals more than $175 million annually.
Oakland University offers 26% more institutional aid than the average public school. This means that the school's financial aid program is likely competitive, and fewer students will need to take out loans.
Students at Oakland University get $345 less in grant money than the average public school, which is $7269.
To be considered for financial aid at Oakland University, you should complete the FAFSA every year.
