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Financial Aid and your Bill

2014-15
PAYMENTS
2014-15
REFUNDS
GENERAL
INFO

Fall Semester Payments
Full semester classes (Sept. 3 - Dec. 13):
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 (Oct. 20 - Dec. 13):
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 October 20th 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 Enrollment Graduate Enrollment
12+ credits = Full time 8+ credits = Full time
9-11 credits = Three-quarter time 6-7 credits = Three-quarter time
 6-8 credits = Half time 4-5 credits = Half time
 1-5 credits = Less than half time 1-3 credits = Less than half time



Winter Semester Payments
Full semester classes (Jan. 6 - April 28):
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 (Mar. 2 - April 28):
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 October 20th 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 Enrollment Graduate Enrollment
    12+ credits = Full time 8+ credits = Full time
    9-11 credits = Three-quarter time 6-7 credits = Three-quarter time
     6-8 credits = Half time 4-5 credits = Half time
     1-5 credits = Less than half time 1-3 credits = Less than half time


    Summer Semester Payments
    Financial aid will pay to your eBill as long as:
    Students will receive a refund if financial aid exceeds charges and all your classes run the entire semester.

      Undergraduate Enrollment Graduate Enrollment
      12+ credits = Full time 8+ credits = Full time
      9-11 credits = Three-quarter time 6-7 credits = Three-quarter time
       6-8 credits = Half time 4-5 credits = Half time
       1-5 credits = Less than half time 1-3 credits = Less than half time



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      Fall Semester Refunds
      Full semester classes (Sept. 3 - Dec. 13):
      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 (Oct. 20 - Dec. 13):
      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 October 20th.
      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 (Jan. 6 - April 28):
      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 (Mar. 2 - April 28):
      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 March 2nd.
      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.


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      Semester charges will appear on the eBill by the semester start date.  Disbursable financial aid will appear as a credit on the eBill 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 emailed during the first week of classes.  


      If there is a balance due, it must be paid by the due date to avoid assessment of a 1.5% monthly late payment penalty, regardless of the status of the financial aid. If a refund is expected , see the Refund Information  page for more information. 

      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 bill for the amount due to Oakland University. The amount due must be paid by the due date shown on the eBill to avoid assessment of a 1.5% monthly late payment penalty.

      If the student is enrolled in a payment plan and receiving financial aid, see the OU Payment Plans page for more information.



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