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Apply for Financial Assistance

We want to make the process of applying for financial aid as easy as possible. Use this as your guide to help you through the process and maximize your chances for receiving financial aid at Oakland University.

General
Information

Apply for Admission

To receive financial aid funds, students must be admitted and enrolled at Oakland University. Whether applying as an undergraduate, graduate, or medical student, the first step is to apply for admission.

Create an FSA ID and Complete the Free Application for Federal Student Aid (FAFSA)

Students (and parents where appropriate) should create an FSA ID at least one week prior to completing the Free Application for Federal Student Aid (FAFSA). Learn more about the FSA ID, the FAFSA, using the Data Retrieval Tool to upload income and tax return information, as well as view some frequently asked questions about the application process in the following tabs.

To be eligible for Michigan state aid the FAFSA must be completed by March 1. 

Be sure to include Oakland University Federal School Code (002307) to ensure OU Student Financial Services will receive the FAFSA.

Financial Aid Awards

Beginning in December, OU Student Financial Services will send an electronic award notification to students' OU email address to notify students they can view the amount and types of financial assistance for which they are eligible on MySail.  If there are any changes or updates to the student's financial aid award package, a revised award notification will be sent to the student's OU email address indicating revised awards are ready to view on MySail.  If a situation occurs which significantly impacts the household's current financial standing, students should speak with a financial aid Advisor.  Financial aid is initially offered for the regular academic year (fall/winter semesters) but may be available during the summer semester. If you wish to learn more about financial aid for the summer semester, visit the summer assistance page.

FAFSA

Beginning October 1, 2016 students should file their 2017-2018 Free Application for Federal Student Aid (FAFSA) to apply for financial aid earlier than ever before. Students are encouraged to apply for financial aid beginning October 1, 2016, or as soon thereafter as possible, to increase their opportunity to receive aid awarded on a first-come, first-served basis.

Students who complete their 2017-2018 FAFSA in October can expect to begin receiving their financial aid award notifications in December.

FSA ID

To access and sign the Free Application for Federal Student Aid (FAFSA), as well as access federal websites related to financial aid, students must create an FSA ID. Parents whose information is included on the FAFSA must also create an FSA ID to sign the FAFSA electronically, as well as to access federal websites related to financial aid.

You will need to complete the following when creating your FSA ID:

  • Provide personal email (unique to each user)
  • Provide social security number
  • Provide birthdate
  • Select two challenge questions
  • Create two challenge questions
  • Select an important date (not your own birthdate)

The FSA ID should be created at least one week prior to completing the FAFSA.

Create an FSA ID now.

Data Retrieval Tool

The Data Retrieval Tool (DRT) is a feature of the FAFSA that allows most users to upload their tax information onto the FAFSA. The DRT can easily be used with just a few clicks by students and parents whose information is included on the FAFSA. The information you upload is completely accurate and confirmed by the IRS.

Filing your FAFSA has never been easier. The 2017-2018 FAFSA will use your 2015 tax information, already filed with the IRS, and does not need to be updated after you file your 2016 taxes. Learn more about the DRT.

How to use the IRS Data Retrieval Tool (DRT) when completing the FAFSA:

  1. Log into the FAFSA using the student's FSA ID and password
  2. On the financial information tab, you will see a “link to IRS” button if you are eligible to use the DRT. Click the “Link to IRS” button and retrieve your tax return information.
  3. Check the “transfer my tax information into the FAFSA” box and click the “transfer now” button. Once the information has been transferred, do not change any transferred information.

 Please note, you will not be able to use the data retrieval tool if you:

  • Filed as married filing separately; or
  • Filed a Federal 1040X Amended tax return, Puerto Rican or foreign tax return; or
  • Filed electronically less than three weeks prior to filing the FAFSA, or filed by mail less than eleven weeks prior to filing the FAFSA.

If you are unable to use the DRT, you should enter your tax information manually and submit the FAFSA. Once it has been more than three weeks since you electronically filed a tax return, or eleven weeks since you filed a paper tax return, you should go back to the FAFSA and update your tax information using the DRT.

FAQ

Below are some frequently asked questions about the changes in the financial aid application process, effective October 1, 2016 for the 2017-18 FAFSA. If your question is not answered below, review information from the Federal Department of Education for college students and parents.

Do I still have to complete a FAFSA every year?
Yes, every student should complete a FAFSA every year beginning October 1, for the next school year they plan to attend.

Why should I apply so early?
Some financial aid is awarded on a first-come, first-served basis, so the earlier you apply, the bigger and better your financial aid package could be.

How will an earlier FAFSA and the change to the income year benefit me?
Benefits include:
  • Students (and their parents, if applicable) will not need to estimate income information and will not need to update their income information as in the past since the FAFSA now only requires taxes already filed.
  • There will be more time for students to explore and understand financial aid options and apply for private scholarships.
  • Applying early means getting your award notification earlier. Students who file October 1 or shortly thereafter, can expect to begin receiving award notifications in December.
  • Students will be more prepared for the change in the billing cycle scheduled for 2017-18.
  • Receiving an award notification earlier encourages students to complete their financial aid requirements earlier.

How will I complete the FAFSA in October if I don’t file taxes until the following April?
Beginning with the 2017-18 FAFSA, students (and parents, if applicable) will be able to report income and tax information from an earlier tax year. For the 2017-18 FAFSA, applicants will report their 2015 income and tax information. For the 2018-19 FAFSA, applicants will report their 2016 income and tax information.

After I have completed my 2016 taxes, will I need to update my 2017-18 FAFSA?
No. The 2017-18 FAFSA will only use 2015 tax return information.

If I completed verification for 2016-17 school year, do I need to re-submit the documents if I’m selected for 2017-18 FAFSA verification?
Yes. The information reviewed in the verification process could change over the years during which you filed the 2016-17 FAFSA and the 2017-18 FAFSA, so if you are selected for verification, you will need to submit all your financial aid requirements, even if you submitted the same document for a prior year.