Paying for College - Macomb County

Macomb County

Outreach

Macomb County
Anton/Frankel Center
20 South Main Street
Mount Clemens, MI 48043 (map)
(248) 370-3910
Toll free: (855) 222-6909
OUmacomb@oakland.edu

Paying for College

OU-MACOMB
SCHOLARSHIPS

UNDERGRADUATE
SCHOLARSHIPS

FINANCIAL
AID

Undergraduate OU-Macomb Scholarship

Generous donations from friends and employees of OU-Macomb have made it possible to offer this award for undergraduate students with outstanding academic achievement and community involvement. Financial need is also a consideration for this award.

This award may be valued at up to $1,500 per semester and may vary from year to year. This award is not renewable; however, you may reapply each year.

All scholarship recipients must meet the Oakland University Financial Aid Satisfactory Academic Progress Policy in order to remain eligible for scholarship awards.

Application Deadline: April 5, 2013

Awardees Notified: End of summer semester

Download application

Graduate OU-Macomb Scholarship

Generous donations from friends and employees of OU-Macomb have made it possible to offer this award for graduate students with outstanding academic achievement and community involvement. Financial need is also a consideration for this award.

This award may be valued at up to $1,500 per semester and may vary from year to year. This award is not renewable; however, you may reapply each year.

All scholarship recipients must meet the Oakland University Financial Aid Satisfactory Academic Progress Policy in order to remain eligible for Scholarship awards.

Application Deadline: April 5, 2013

Awardees Notified: End of summer semester

Download application

Incoming freshman and transfer students can use this scholarship search to determine which Oakland University scholarship awards they may qualify for.*

You can also download the freshman, transfer, and First Year Focus Award scholarship fliers for all the same information, or check out the major-specific scholarships. Learn more about need-based aid for incoming freshmen.

Note that there is no separate application for OU merit scholarships, but some awards (such as the Alumni Legacy Award, major-specific scholarships, OU-Macomb scholarships and international student scholarships) do require an additional application process.

*The scholarship search tool is intended as a guide. Some exclusions may apply.

Download a printable version of this information.

Getting help

Once you have an idea of what you’ll pay to attend college, it’s time to figure out where that money will come from. Today, more than half of Oakland University students are attending with the help of financial assistance totaling more than $100 million. You can benefit from those funds, too; all you need to do is apply.

The largest source of financial aid is the U.S. Department of Education. Federal and state programs support access to higher education for all students regardless of financial need. Oakland University, state programs and several other agencies and organizations support funding for financial aid programs.

Types of financial aid

Scholarships: Awarded on the basis of academic accomplishments and do not require repayment. Be sure to check out OU's academic merit scholarships for freshmen and transfers, which are for students who demonstrate consistent academic excellence.

Grants : Usually based on financial need and do not require repayment. Oakland offers several grant programs, including academic, housing, a 100% Tuition Grant and a Special Assistance Fund award for those who demonstrate financial need.

Loans : Subsidized loans are based on financial need. They require repayment after graduation, but interest does not begin to accrue until repayment begins. Unsubsidized loans are not based on financial need. They require repayment after graduation, and interest begins accruing immediately. Parents of undergraduate students may be eligible for a federal PLUS loan. Interest rates on subsidized, unsubsidized loans and parent loans are low.

Federal Work-Study and on-campus employment: Part-time employment on campus for students who demonstrate financial need (determined by your FAFSA). Eligibility to work in a Federal Work-Study position requires a Federal Work-Study award, which are given on a first-come, first-served basis. Many Oakland students work on campus even if they don’t receive federal or Michigan work-study as part of their financial aid award package. Job openings for students are posted online at OU CareerLink.

The FAFSA

Start by completing the Free Application for Federal Student Aid (FAFSA) to see how much federal and/or state financial aid is available to you. Even if you think your family’s finances are too high to qualify for financial aid, it’s important to fill out the FAFSA. Most applicants who apply for financial aid through the FAFSA qualify to receive at least an unsubsidized loan, which is not based on financial need. Often other grants, work-study opportunities and subsidized loans are offered, as well. You are not bound to accept any loans or other forms of financial aid offered through the FAFSA.

You can complete the FAFSA at www.fafsa.ed.gov. To submit your FAFSA electronically, you’ll first apply for a Personal Identification Number (PIN), which will act as your official, electronic signature on the online form. To apply for a PIN, go to www.pin.ed.gov. To maximize your financial aid award package, you should fill out the FAFSA as soon as possible after January 1 for the upcoming academic year. Be sure to include OU’s federal school code (002307) in the appropriate section of the FAFSA.

Although you do not need to complete tax returns before you submit the FAFSA, it is important for your FAFSA to be accurate. You can estimate your income for the year based on pay stubs, W-2s, or other documentation; but after you or your parent files tax returns, you must correct any estimated income on your FAFSA based on the final income information as calculated for your tax return. The U.S. Department of Education uses your income level and other factors to determine your Expected Family Contribution (EFC). Your financial need is the difference between your estimated cost of attendance at Oakland University and your EFC.

You must fill out a FAFSA each year you wish to be considered for financial aid.