Policies, Terms & Conditions - Student Financial Services

Student Financial Services

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Policies, Terms & Conditions

Student Financial Services
120 North Foundation Hall
2200 N. Squirrel Road
Rochester, MI 48309
(248) 370-2550
have your Grizzly ID ready
finaid@oakland.edu

Office Hours:
M-F 8 a.m. - 5 p.m.

Policies, Terms & Conditions

FINANCIAL
AID

STUDENT
ACCOUNT

Financial Aid Policies and Conditions

Most frequently asked questions about financial assistance can be answered within Oakland University's Financial Aid Policies and Conditions. Please download and save the printable version for your records. Additional information referenced in this document can be found within the drop downs below.

Return of Title IV Funds

When an eligible federal Title IV financial aid student withdraws (officially or unofficially) from all classes before 60% of the semester is complete during an enrollment period in which attendance has begun, federal regulations require Oakland University to determine the amount of financial aid earned. A student is only eligible to retain the percent of Title IV aid earned that is equal to the percentage of the enrollment period that was completed by the student. For students enrolled solely in courses that are less than the 15 week full semester, the enrollment period is adjusted to reflect the length of the courses. The unearned Title IV aid must then be returned to the appropriate federal aid program(s) which may result in the student owing financial aid funds to the University, the federal government, or both. If more than 60% of the enrollment period has been completed by the student, none of the Title IV aid needs to be returned.

Federal Title IV financial aid funds include: TEACH, Federal SEOG, Federal Pell Grant, Academic Competitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent (SMART) Grant, Federal Perkins Loan, and Federal Direct Subsidized, Direct Unsubsidized and Direct PLUS (Parent or Graduate) Loans.

Download this PDF for the full text of the Financial Aid Return to Title IV Policy.

Financial Aid Satisfactory Academic Progress

Oakland University is committed to providing fair and equal access to resources to meet educational costs for students. To receive federal, state and institutional financial aid at Oakland University, students must meet the financial aid standards of satisfactory academic progress (SAP).

Federal regulations require the Financial Aid Office to monitor the academic progress of students at end of each semester. The complete Oakland University academic record including transfer credits is considered regardless of whether or not financial aid was received each semester. Students who fail to achieve the minimum standards may lose financial aid eligibility.

The SAP standards for financial aid are applicable to but not limited to the following programs: Federal College Work Study, Federal Direct Loans, Federal Pell Grants, Federal Perkins Loans, Federal PLUS Loans, Federal Teach Grant, Michigan Competitive Scholarships, all Oakland University Awards.

Some scholarships have standards stricter than the financial aid satisfactory academic progress standards. The standards vary for each scholarship and are provided in the scholarship descriptions.

Download this PDF for the full text of the Financial Aid Satisfactory Academic Progress Policy.

De-Registration. Students who are not in good financial standing as determined by the University will be de-registered from future courses in accordance with the University’s de-registration policy as it may be amended from time-to-time (oakland.edu/deregistration).
Billing Notifications. Billing notifications are e-mailed to students using their University e-mail account. Students are responsible for checking their e-mail account for billing notifications. Instructions for using University e-mail accounts may be found at E-Mail Services – Webmail.
eBill. Students must login to eBill to view their billing statements or pay their bills online. Additional information may be found at Billing Cycle & Due Date Calendar.
Financial Aid Adjustments. Students are responsible for all amounts due to the University as a result of financial aid adjustments.
Dropping / Withdrawing from Classes. Students who do not drop / withdraw from their courses by the deadlines, as published in the Important Dates Calendar, are responsible for payment of all tuition and other charges, along with any installment plan charges, late payment charges and all costs and attorney’s fees incurred by the University to collect or attempt to collect unpaid tuition and/or other charges. The University will first apply all payments received to the oldest outstanding balances, if applicable, then to the current semester charges.
Non-Attendance. Non-attendance does not relieve students of financial responsibility for the courses in which they have enrolled or their housing contract.
Third Party Payers. Students are responsible for charges not paid by their corporate sponsors, employers or other third parties who may have agreed to pay their tuition and/or other charges.
Tuition and Other Charges. Students are responsible for payment of all tuition and other charges billed to their student account, as published in the Billing Cycle & Due Date Calendar. The University will first apply all payments received to the oldest outstanding balances, if applicable, then to the current semester charges.
If a student account balance becomes past due, the University may:

Assess late payment charges as established by the University in its sole and exclusive discretion;
Refuse to allow the student to register for any future courses or semesters, receive other University services and/or receive a degree;
Refuse to release official transcripts of grades to the student and/or any other person or entity;
Refer the unpaid student account balance to an outside collection agency and/or charge the student for the actual costs and attorneys’ fees incurred by the University in collecting the account balance; report the account to a credit bureau; offset the amount due against any future state tax refunds due the student.

Loans and Educational Benefits. The University may provide, extend or advance funds, credits and/or other financial accommodations to students, to be applied towards their tuition and/or charges, with the understanding that students will re-pay those amounts. All such amounts, other than scholarships, fellowships, stipends and/or tuition waivers, are loans and/or educational benefits which students must repay to the University together with late payment charges as established by the University. In consideration for allowing students to attend classes, students agree to repay the University for those loans and/or educational benefits.
Automated Dialing and Announcing Devices. The University, along with its agents, representatives and contractors, may contact me at the current or any future number that I provide for my cellular phone or other wireless device using automated telephone dialing equipment or artificial or pre-recorded voice or text messages.