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.
Extended Hours for Winter - 8 a.m. to 6:30 p.m. on:
December 15, January 2-4, January 8-9 and January 18

Graduate Students

Oakland University participates in a variety of financial assistance programs to help students pay for their educational expenses. Assistance can be awarded by Oakland University, federal government, and by private sources. 
 
To receive full consideration for all programs, it is recommended that all students complete the Free Application for Federal Student Aid (FAFSA) every year, as soon as possible after October 1 for the next school year. Awards depend on the availability of funds.

Students can expect to receive Financial Aid Award Notifications beginning in January for the next school year. OU Financial Services sends an  award notification to the OU email address with instructions for viewing awards on MySAIL.  In case of a change to an award, OU  Financial Services sends a  revised award notification to the OU email address with instructions for viewing awards on MySAIL.  Students in an eligible graduate or post-master's certificate program may qualify for financial aid.
OU Grants
& Scholarships
OU offers and renews awards at its sole and absolute discretion; offers and renewals are contingent upon the availability of funds and continuation of the programs.

Graduate Assistantship

Oakland University offers graduate assistantships so you can gain professional experience while contributing financially to the successful completion of your graduate degree. Assistantships are available to full-time, degree-seeking graduate students.

Eligibility and requirements
  • Students must have "regular" admission status to a specific graduate degree program
  • Students must be in good academic standing
  • Students must maintain full-time enrollment status at Oakland University during the semester(s) for which they are appointed
  • Students must maintain an overall GPA of 3.0 and show satisfactory progress toward completing degree requirements
  • Students may not hold other employment positions during the term of appointment, either at Oakland University or elsewhere, without prior written permission from their faculty adviser and Graduate Education
Interest form
Notify the academic department of your interest in receiving an assistantship by completing the Graduate Assistantship Interest form. Although graduate assistantships may be awarded without submission of this form, the information on this form provides academic departments pertinent details often associated with review of assistantships awards.

Eligible students should email their completed form to gradinfo@oakland.edu.
Available positions
The majority of graduate assistantships at Oakland University are offered through academic departments and might not appear on this page. Please speak with your adviser and other faculty members within your department about available positions. Detailed information regarding graduate assistantships can be found in the graduate catalog.

Oakland University supports the Council of Graduate Schools Resolution regarding graduate scholars, fellows, trainees and assistants.
Graduate assistant orientation
  • Tuesday, January 23, 2018
    • 5 pm - 7 pm
    • Nyberg Room #242, Kresge Library
    • RSVP Today

The following presentation is from the GA orientation on Tuesday, September 19, 2017.  

KCP Fellowship

The King-Chavez-Parks (KCP) Future Faculty Fellowship Program was established in 1986 by the Michigan State Legislature to increase the pool of traditionally underrepresented candidates pursuing faculty teaching careers in postsecondary education.

KCP Fellowships are funded from an annual State of Michigan appropriation to Oakland University. Graduate Education holds a competition for KCP awards and provides recipients with financial assistance to pursue master's and/or doctoral degrees. A master's recipient can receive a maximum stipend of $20,000 and a doctoral fellow can receive a maximum stipend of $35,000.

Tuition for KCP fellows are paid by Graduate Education as long as the recipient:

  • remains in good academic standing
  • enrolls for a minimum of 16 credit hours each calendar year
  • enrolls in courses that satisfy degree requirements

Preference will not be given to applicants on the basis of race, color, ethnicity, sex or national origin. Applications from women, men, people with disabilities, and individuals from cultural, linguistic, geographic, and socio-economic backgrounds who would otherwise not adequately be represented in the graduate student and faculty populations are encouraged to apply.

Awarded fellows must file a Request for Tuition Reduction each term they are enrolled.

The KCP Future Fellowship Program is administered with support from the Workforce Development Agency.

Eligibility
To be eligible for this fellowship, students must:
  • be admitted into an Oakland University graduate degree program that facilitates a career in post-secondary education;
  • be a U.S. citizen or permanent resident;
  • be a Michigan resident as defined by Oakland University;
  • be in good academic standing as defined by Oakland University;
  • not be a current recipient of a KCP Fellowship Award at another institution;
  • not have received another KCP Fellowship Award for the same degree level (master's or doctorate)*; and
  • not currently be in default status on any guaranteed student loan and/or a KCP loan.
* Possession of a doctoral degree disqualifies a candidate from holding a KCP Fellowship.
Application process

Eligible students who are currently enrolled or admitted into a graduate degree program at Oakland University may complete and submit an application, along with supporting documents by January 12. Applications must be complete in order to be considered, and include:

  • A KCP application form
  • Two recommendation forms which should be current and speak to the fellowship
  • A letter from the academic program coordinator or department chair indicating the student will satisfactorily complete his/her intended degree in a reasonable time. For students admitted to master's programs with the expectations of completing a doctorate at OU or other Michigan university, this letter must also address the likelihood of the student being admitted to such a doctoral program.
  • A personal statement indicating academic and career goals in post-secondary education
  • A resume or curriculum vitae (i.e., a brief statement of the applicant's education and scholarly achievements)

Submit all materials to:

KCP Fellowship Award
Graduate Education
O'Dowd Hall, Room 520
586 Pioneer Drive
Rochester, MI 48309-4482

Selection process

A selection committee reviews applications annually and recommends candidates to the Executive Director of Graduate Education. Selections are made on a competitive basis using criteria that includes academic performance, research accomplishments and potential, recommendation letters, and personal statements. Fellowship decisions are not subject to appeal.

Award notifications are sent by mail no later than end of April. 

Conditions for acceptance

KCP Fellows agree to complete a master's degree within four years and a doctoral degree within eight years of receiving the fellowship, and are obligated, by signed agreement, to remain in post-secondary faculty teaching or administration in a public or private, 2 or 4 year, in-state or out-of-state post-secondary institution for a minimum of three years equivalent full-time.

Fellows who do not fulfill the teaching and/or other obligations of their fellowship agreement may be placed in default, which results in their fellowship converting to a loan (referred to as a KCP Loan) that he/she repays to the State of Michigan.

KCP fellows should complete the KCP Fellowship Exit Interview once their fellowship is complete.

For questions, please contact (248) 370-2700.

Federal
Aid
Federal Student aid comes from the U.S. Department of Education as a result of filing a FAFSA. There are three categories of federal aid:

Grants

Federal Traineeship Grants:
The  School of Nursing applies each year for Federal Traineeship Grants. Funds for the traineeship come from the Bureau of Health Professions, Health Resources and Services Administration (HRSA). The purpose is to support traineeships for licensed registered nurses enrolled as full-time graduate students, first-year Nurse Anesthesia students, part-time students in the last 12 months of their program, or full-time students beyond the twelfth month of study in a master’s nurse anesthesia program.

The Federal TEACH Grant:
Offered to students in a master’s degree program which leads toward teaching. The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides $4,000 in annual grant. The maximum cumulative award is $8,000 (two years). Less than full time students have the same cumulative maximum, but have prorated annual awards. Candidates must agree to serve as full-time teachers at certain schools serving low-income students, and teach subjects within certain high-need fields (foreign language, mathematics, reading specialist, science, special education) for at least four academic years within eight years of completing the course of study for which the grant was received.  If a grant recipient does not fulfill the teaching obligation, the TEACH grant funds convert to a Direct unsubsidized loan that must be repaid with interest. Requires completion of the  FAFSA
Work-Study

Available to graduate and undergraduate students, work-study awards are wages that can be earned through a campus job and does not have to be repaid. Funds are limited and awarded on a first-come, first-served basis according to a student's financial need. Visit Handshake to search and apply for student employment positions.

Loans

A graduate student can receive a Federal Unsubsidized loan without a co-signer. To view annual and aggregate loan limits, visit the loans page on the Federal Student Aid website. .

Graduate students are able to apply for a Federal Direct Graduate PLUS loan. The Graduate PLUS loan is approved or denied based on the graduate student's credit. An online application is available at www.studentloans.gov. For information regarding interest rates and repayment terms, visit the  PLUS loans page  on the Federal Student Aid website..
Private
Aid

 

Private Scholarships
Private scholarships are abundantly available for students from organizations, foundations, companies, and individuals. Students can increase the probability they will be selected for private scholarships by increasing the number of applications submitted. Search for private scholarships on large online databases called clearinghouses, such as:

Private Loans

Choose loan programs you can live with long term.  Government loan programs usually offer lower interest rates and more flexible repayment plans than most private/alternative loans.  Maximize your borrowing from all federal loans before considering supplemental funds from a private loan. The limit on a private loan is equal to the cost of education minus other awarded financial aid.

A number of banks and lending institutions offer private loan funding to assist students with the cost of education. A co-signer may be required, depending on the student's credit history and credit worthiness. Borrow wisely and compare lenders to make a smart, long-term choice. Be wary of private loan offers which discourage you from working with your financial aid office, offer introductory rates, do not tie the loan interest rate to a fixed percentage of LIBOR or PRIME rate, or claim that you can apply and receive money immediately. OU will certify a private loan from any private lender. Many private loan options are available and students can choose to apply for a private loan with any banking institution of their choice.  If students need to utilize loans, it is best to exhaust all federal loan options before seeking a private loan.  Read more about federal and private loan options.  Although not a comprehensive list, StudentLendingAnalytics.com provides a brief overview of private loan options.

Consider these factors when shopping for a lender:

Eligibility

  • Undergraduate, Graduate, Professional Development, Certification
  • Satisfactory Academic Progress (SAP)
  • Enrollment Requirements – ie., less than half-time
  • International Students

Interest rate

  • With or without a co-borrower (co-signer)
  • Interest adjusted when and how

Fees

  • Origination fees and other charges
  • Prepayment
  • Late fees

Borrower benefits

  • Direct Debit
  • Co-borrower release
  • Graduation reward

Repayment terms

  • When does repayment begin?
  • Can principal and interest be deferred?
  • When is interest capitalized?
  • Maximum repayment period

Loan limits

  • Minimum loan amount
  • Annual and aggregate loan limits
  • Allow loans for past balances (if applicable)

Service

  • Responsive customer service
  • Student focused
Loan
Consolidation

Consolidation loans combine several loans, with various repayment schedules, into one loan, requiring you to make only one monthly payment. The interest rate on a consolidation loan also may be lower than what you're currently paying on one or more of your loans. Student borrowers with at least one Federal Direct Loan may wish to consider a Direct Consolidation Loan.