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. Open until 6:30 p.m. on January 3, 7, 8, 9

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, as well as view some frequently asked questions about the application process in the following tabs.

To be eligible for State of Michigan 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 adviser.  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.

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
  • Enter the security code for your email and your mobile number before you exit the FSA ID website

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

Create an FSA ID now.

FAFSA

Students are encouraged to file the Free Application for Federal Student Aid (FAFSA) every October 1 or shortly thereafter, to apply for financial aid for the next academic year. Students are encouraged to apply for financial aid when the FAFSA becomes available in order to increase their opportunity to receive aid awarded on a first-come, first-served basis.

Students (and parents when applicable) who file taxes are encouraged to complete the FAFSA using the IRS Data Retrieval Tool (DRT) embedded in the FAFSA (view or print instructions). Using the DRT confirms the tax information filed with the IRS and provides an added measure of security by never showing tax data on the screen. The tax information is encrypted and only shows Transferred from the IRS as the answer for each question. The information does not become unencrypted and visible until received by Student Financial Services for processing. 

Current OU undergraduate and graduate students who need help renewing their FAFSA can visit Student Financial Services. Current OUWB Medical students who need help renewing their FAFSA can visit OUWB Financial Services.    

Students who complete their FAFSA in October can expect to begin receiving financial aid award notifications beginning in December or later.

FAQ

Below are some frequently asked questions about the financial aid application process. If your question is not answered below, view information about the FAFSA from the Federal Department of Education.

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 for undergraduate and graduate students.
  • 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 payment due date.
  • 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) have been able to report income and tax information from an earlier tax year. For the 2019-2020 FAFSA, applicants will report their 2017 income and tax information. For the 2020-2021 FAFSA, applicants will report their 2018 income and tax information.

After I have completed my 2018 taxes, will I need to update my 2019-2020 FAFSA?
No. The 2019-2020 FAFSA will only use 2017 tax return information.