Student Financial Services
North Foundation Hall, Room 120
318 Meadow Brook Road
Rochester, MI 48309-4454
(map)
(248) 370-2550
Have your Grizzly ID ready
finservices@oakland.edu
M-F 8 a.m. - 5 p.m.

Financial Aid and your Bill

Financial Aid
Payments
Fall Semester Payments
Full semester classes:
Financial aid will begin paying to your eBill by the first day of classes as long as:
  • All your financial aid requirements are listed as “Satisfied” on MySAIL, and
  • All your classes run the entire semester, and
  • Your expected enrollment (on Award Overview in MySAIL) matches your actual enrolled credits*; see enrollment chart below.  Submit a Revision Form to make any changes to the expected enrollment.
Students will receive a refund if financial aid exceeds charges and all your classes run the entire semester.


Second Half semester classes:
Financial aid will pay to your eBill by the first day of classes as long as: 
  • All your financial aid requirements are listed as “Satisfied” on  MySAIL, and
  • The rest of your classes begin on or after  the start date for the second half semester classes and
  • Your expected enrollment (on Award Overview in MySAIL) matches your enrolled credits*; see enrollment chart below.  Submit a Revision Form to make any changes to the expected enrollment. 
Undergraduate EnrollmentGraduate Enrollment
12+ credits = Full time8+ credits = Full time
9-11 credits = Three-quarter time6-7 credits = Three-quarter time
 6-8 credits = Half time4-5 credits = Half time
 1-5 credits = Less than half time1-3 credits = Less than half time

*Please see Policies, Terms, and Conditions Section 3.

Winter Semester Payments
Full semester classes:
Financial aid will begin paying to your eBill by the first day of classes as long as:
  • All your financial aid requirements are listed as “Satisfied” on  MySAIL, and
  • All your classes run the entire semester, and
  • Your expected enrollment (on  Award Overview in MySAIL) matches your actual enrolled credits*; see enrollment chart below.  Submit a Revision Form to make any changes to the expected enrollment.
Students will receive a  refund if financial aid exceeds charges and all your classes run the entire semester.

Second Half semester classes:
Financial aid will pay to your eBill by the first day of classes as long as: 
  • All your financial aid requirements are listed as “Satisfied” on  MySAIL, and
  • The rest of your classes begin on or after the start date for the second half semester classes and
  • Your expected enrollment (on Award Overview in MySAIL) matches your enrolled credits*; see enrollment chart below.  Submit a Revision Form to make any changes to the expected enrollment. 
Undergraduate EnrollmentGraduate Enrollment
12+ credits = Full time8+ credits = Full time
9-11 credits = Three-quarter time6-7 credits = Three-quarter time
 6-8 credits = Half time4-5 credits = Half time
 1-5 credits = Less than half time1-3 credits = Less than half time

*Please see Policies, Terms, and Conditions Section 3.


Summer Semester Payments
Financial aid will pay to your eBill as long as:
  • All your financial aid requirements are listed as “Satisfied” on  MySAIL, and
  • Your expected enrollment (on  Award Overview in MySAIL) matches your actual enrolled credits* according to the published session dates; see enrollment chart below. Submit a Summer Revision Form to make any changes to the expected enrollment.
Students will receive a  refund if financial aid exceeds charges and all your classes run the entire semester.

Undergraduate EnrollmentGraduate Enrollment
12+ credits = Full time8+ credits = Full time
9-11 credits = Three-quarter time6-7 credits = Three-quarter time
 6-8 credits = Half time4-5 credits = Half time
 1-5 credits = Less than half time1-3 credits = Less than half time

*Please see Policies, Terms, and Conditions Section 3.

Financial Aid
Refunds
Fall Semester Refunds
Full semester classes:
Students will receive a refund as long as:
  • Financial aid has paid to the eBill and exceeds the amount of charges, and
  • All of the student's classes run the entire semester.
Once the refund has been processed on eBill, students can expect to receive their refund within 3-5 business days if enrolled in direct deposit.
If the student has elected not to enroll in direct deposit, a refund check will be sent through the postal mail and arrive within 1-3 weeks of the processed date on eBill.

Second Half semester classes:
Students will receive a refund as long as:
  • Financial aid has paid to the eBill and exceeds the amount of charges, and
  • One or more of the student's classes begin on or after the start date for the second half semester classes.
Once the refund has been processed on eBill, students can expect to receive their refund within 3-5 business days if enrolled in  direct deposit.

If the student has elected not to enroll in direct deposit, a refund check will be sent through the postal mail and arrive within 1-3 weeks of the processed date on eBill.

Winter Semester Refunds
Full semester classes:
Students will receive a refund as long as: 
  • Financial aid has paid to the eBill and exceeds the amount of charges, and
  • All of the student's classes run the entire semester.
Once the refund has been processed on eBill, students can expect to receive their refund within 3-5 business days if enrolled in  direct deposit.

If the student has elected not to enroll in direct deposit, a refund check will be sent through the postal mail and arrive within 1-3 weeks of the processed date on eBill.

Second Half semester classes:
Students will receive a refund as long as: 
  • Financial aid has paid to the eBill and exceeds the amount of charges, and
  • One or more of the student's classes begin on or after the start date for the second half semester classes.
Once the refund has been processed on eBill, students can expect to receive their refund within 3-5 business days if enrolled in  direct deposit.

If the student has elected not to enroll in direct deposit, a refund check will be sent through the postal mail and arrive within 1-3 weeks of the processed date on eBill.

Summer Semester Refunds
Students will receive a refund as long as: 
  • Financial aid has paid to the eBill and exceeds the amount of charges, and
  • All of the student's classes have started.
Once the refund has been processed on eBill, students can expect to receive their refund within 3-5 business days if enrolled in  direct deposit.

If the student has elected not to enroll in direct deposit, a refund check will be sent through the postal mail and arrive within 1-3 weeks of the processed date on eBill.
General
Info

eBill Charges and Financial Aid Payments

Semester charges will appear on the eBill by the semester start date.  Disbursable financial aid will appear as a credit on your student account once it has been processed.  Awards that require on-campus housing will only pay if housing charges appear on the eBill.  Students must be enrolled in a qualifying degree/certificate program.  Audit courses, competency credit, continuing education courses, and courses not required for the current degree program do not count in enrollment status and qualify only for a private education loan.  Statements will be sent electronically to each student's official Oakland University email address.

Access eBill to determine what aid has been paid. If an award is missing after reviewing the charges by semester, review financial aid award and requirements in MySAIL.  Financial Aid requirements with a status of "received and in review" will be reviewed within 2-4 weeks of the date all required documents are received.  When all requirements are processed, the status will reflect "satisfied."

A student’s expected enrollment must match actual enrolled credits for financial aid to pay to the eBill. If financial aid is cancelled or reduced after it has been paid to the eBill and results in a balance due, the student will receive a statement for the amount due to Oakland University.

If a balance remains after financial aid has paid to the eBill, students can enroll in an OU Payment Plan or pay the balance in full by the due date to avoid assessment of a 1.5% monthly late payment penalty, regardless of the status of the financial aid. See the Policies, Terms, and Conditions, Section 8.6 for more information. 

Refunds

When the amount of financial aid paid to a student's 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. If a student has educationally related expenses assessed to their student account (such as Graham Health Center charges, lost student ID charges, Counseling Center charges, etc.), the student is responsible for paying these charges. Financial aid cannot be used to pay the charges prior to processing a refund.

Students who elect to receive their refund by direct deposit (recommended) will generally receive their refund 3-5 business days from the date the refund shows as processed on the student account. Students who do not enroll in direct deposit will receive their refund by check through the postal mail 1-3 weeks from the date the refund shows as processed on the student account. 

  • Direct deposit refunds are processed on Tuesdays and Thursdays
  • Refund checks are processed on Thursdays and mailed on Fridays
Credit balances resulting from overpayments, dropped courses, etc. will be processed after the 100% Tuition Refund date and could take 1-3 weeks to process.
  • Credit Card Refunds: Payments made with a credit card which result in a refund will be returned via the original credit card. It can take up to three weeks for a credit card company to complete their part of the refund process.
  • Debit Card Refunds: Payments made with a debit card which result in a refund will be issued via direct deposit (if the student is enrolled in direct deposit; recommended) or check (if the student is not enrolled in direct deposit). Students who wish to have their refund issued to the original debit card must bring the original debit card used for the payment to the Cashier's Office. 

Students are strongly encouraged to enroll in Non-Payroll Direct Deposit used for financial aid refunds, as it is the fastest, most secure way to receive refunds. Students should cash refund checks in a timely manner to avoid having to contact the State of Michigan or Oakland University to retrieve funds escheated and/or to avoid losing financial aid funds for which the student was eligible at the time of disbursement. 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 a refund check resulting 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.

View the Tuition and Refund Policy for information regarding refunds due as a result of dropping or withdrawing from courses.