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 Account Refunds

General
Info
Refund Processing Schedule

Student account refunds are processed by direct deposit on Wednesdays and Fridays. Students can enroll in Non-Payroll Direct Deposit for financial aid refunds and refunds of personal payments. For more information, please visit the Direct Deposit web page. Students will generally receive their direct deposit refund 3 to 5 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. Financial aid cannot be used to pay all charges. 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).

If a refund is issued while there are unpaid charges on the account, a hold will be placed on the account to prevent diplomas, online registration, 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 1 - 3 weeks after the 100% tuition refund date to process your refund.

  • Refund of Online Debit or Credit Card Payment: If a payment is made on a student account by debit or credit card within 6 months of the refund date, the refund will be issued to the original card. Refunds of card payments made over 6 months 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. Students must keep in mind that debit and credit card payments are made via a third party processor who assesses a convenience charge for each payment transaction. This convenience charge is not refundable under any circumstance.
  • 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.
Refunds
Summer Semester 2020
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after May 15, 2020). It could take 1 - 3 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, 2020), 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 and Your Bill" 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.
Fall Semester 2020
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after September 17, 2020). It could take 1 - 3 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, 2020), 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 and Your Bill" 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.
Winter Semester 2021
  • Refunds resulting from third-party or personal payments will not be processed until after the 100% tuition refund date (after January 20, 2021). It could take 1 - 3 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, 2020), 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 and Your Bill" 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.