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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.
OU school code: 002307

Student employment contact: studentempl@oakland.edu

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.
OU school code: 002307

Student employment contact: studentempl@oakland.edu

Student Account Refunds

Refund Process

Any student account credit balance that results from a debit or credit card payment will be refunded back to the original card*. Refunds of Parent PLUS loans will be refunded by check and mailed to the parent unless previously authorized to be given to the student**. All other refunds will be deposited into a U.S. financial institution checking or savings account of the student's choice (not available for Parent PLUS refunds). It is not required to open an account with any specific financial institution in order to receive a refund. Please note that an active primary address must also be on file for any refund to be generated.

To enroll in Non-Payroll Direct Deposit for financial aid refunds and refunds of personal payments, please visit the Direct Deposit web page.

Don't have a bank account? Most banks will allow you to open a bank account without a social security number (SSN) or Individual Tax Identification Number (ITIN). You will need your driver's license/state ID for identification. If you are an international student, you will need your passport and government issued international documentation, such as an I-20, DS-2019, or other similar documents.

*See Refund of Online Debit or Credit Card Payment below for more information on limitations.

** Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent. Parent PLUS refunds can be issued to the student if a parent authorizes the university to do so during the Parent PLUS Loan application process. Once the application has been submitted, parents can authorize the Parent PLUS refund be issued to the student by emailing Student Financial Services at finservices@oakland.edu.

General Information
Refund Processing Schedule

Student account refund activity is posted onto the student account daily with the direct deposit generated on Thursday. Students will generally receive their direct deposit refund 5 to 7 business days from the date the refund shows as processed on the student account.

Financial Aid Refunds

When the amount of financial aid paid to a student 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 your refund consists of loans, it may be wise to consider reducing or canceling your loans.

What charges can my financial aid pay? Financial aid cannot be used to pay all charges. You may receive a refund and still have a balance on your student account. Some charges can be covered by financial aid if you provide an authorization. Other charges cannot be covered by financial aid at all. It is your responsibility to know which charges must be paid out-of-pocket by the payment due date in order to avoid cancellation (dropping) of your classes and housing (if applicable).
  • Financial aid will pay tuition and on-campus housing charges assessed for prior semesters within the current year; and up to $200 of tuition and on-campus housing charges still due from a prior year.
  • Financial aid cannot pay late payment penalties, payment plan processing charges, charges for returned payments, default charges, charges that do not post to the student account (such as library fines, parking fines, off-campus housing, etc.) or more than $200 in prior year charges.
  • You can authorize financial aid (excluding Parent PLUS Loans) to also pay other miscellaneous charges posted to your student account for the current year (such as Graham Health Center and Counseling Center charges, competency exam, student ID replacements, balance due to aid adjustments, etc.); and up to $200 of miscellaneous charges owed from a prior year.
  • Financial aid will always apply to current year charges first. If excess financial aid exists, it will then cover prior year charges ($200 maximum).
  • Financial aid authorizations will take effect on the date that the authorization is received and remains in effect until the authorization is rescinded or you are no longer enrolled at the university. Changes to your authorization status will take effect on the date it is received and will not be retroactive.
If a refund is issued while there are unpaid charges on the account, a hold will be placed on the account to prevent diplomas, registration, online transcripts, or other statements of record. If any charges are incurred on the account after financial aid has been refunded, it is the student's responsibility to pay the additional charges by the next payment due date.

Payment Plan Installment, Overpayments, Dropped Courses, Etc. Refunds

Credit balances resulting from payment plan installments made before the disbursement of financial aid and credit balances resulting from overpayments, dropped course, etc. will be processed after the 100% tuition refund date. It could take several weeks after the 100% tuition refund date to process your refund.
  • Refund of Online Debit or Credit Card Payment: If a payment was made on a student account by debit or credit card within 1 year of the refund date, the refund will be issued to the original card. The convenience charge assessed at the time payment was made is not refundable under any circumstance as it was charged by a third party processor. Refunds of card payments made over 1 year ago will be issued by direct deposit. It can take the credit card company up to 3 weeks to complete their part of the refund process.
  • Refund of Cash Payment: If a payment is made on a student account by cash, the refund will be issued by direct deposit.
  • Refund of Check/ACH/eBill Electronic Check (Online Checking/Savings) Payment: If a payment is made on a student account by check, the refund will be issued by direct deposit. Students must keep in mind that we will not refund payments made by check until 21 days after the payment has posted to their student account.

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

Refunds
Summer Semester 2021
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after May 14, 2021). It could take several weeks after the 100% tuition refund date to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the payment due date (April 15, 2021), you may enroll in a payment plan by the payment due date.
  • You will receive a financial aid refund as long as your financial aid has paid to your student account and exceeds the amount of your charges. Go to "Financial Aid Payments" to determine when the financial aid will pay to your account.
    • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent. Parent PLUS refunds can be issued to the student if a parent authorizes the university to do so during the Parent PLUS Loan application process. Once the application has been submitted, parents can authorize the Parent PLUS refund be issued to the student by emailing Student Financial Services at finservices@oakland.edu.
Fall Semester 2021
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after September 16, 2021). It could take several weeks after the 100% tuition refund date to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the payment due date (August 15, 2021), you may enroll in a payment plan by the payment due date.
  • You will receive a financial aid refund as long as your financial aid has paid to your student account and exceeds the amount of your charges. Go to "Financial Aid Payments" to determine when the financial aid will pay to your account.
    • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent. Parent PLUS refunds can be issued to the student if a parent authorizes the university to do so during the Parent PLUS Loan application process. Once the application has been submitted, parents can authorize the Parent PLUS refund be issued to the student by emailing Student Financial Services at finservices@oakland.edu.
Winter Semester 2022
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after January 19, 2022). It could take several weeks after the 100% tuition refund date to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the payment due date (December 15, 2021), you may enroll in a payment plan by the payment due date.
  • You will receive a financial aid refund as long as your financial aid has paid to your student account and exceeds the amount of your charges. Go to "Financial Aid Payments" to determine when the financial aid will pay to your account.
    • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent. Parent PLUS refunds can be issued to the student if a parent authorizes the university to do so during the Parent PLUS Loan application process. Once the application has been submitted, parents can authorize the Parent PLUS refund be issued to the student by emailing Student Financial Services at finservices@oakland.edu.