Office of the Dean
O’Dowd Hall, Room 428
586 Pioneer Drive
Rochester, MI 48309-4482
(map)
(248) 370-3634

Office Hours:
Monday – Friday: 8:00 a.m. – 5:00 p.m.

For questions, please contact: 

Financial Services
medfinservices@oakland.edu 
(248) 370-3611

Applying for Financial Aid

Financial Aid & Services

Financial Services is conveniently located in the Center for Medical Student Services at 216 O’Dowd Hall. You may contact staff directly to schedule an appointment or walk in to see us. Remember, you do not need to apply for or receive financial aid to receive our assistance.

Although funding your education may seem overwhelming, we want you to know that we are here to help you:

  • Navigate the financial aid application process
  • Learn how to budget your money and develop good spending habits
  • Understand what type of loans you are borrowing
  • Monitor and manage your loan debt
  • Know what to expect when you enter loan repayment 

You are embarking on a transforming adventure and we are here to offer you financial guidance along your way.

General
Information

Apply for Admission

To receive financial aid funds, students must accept admission to Oakland University William Beaumont School of Medicine. The first step is to apply for admission.

Create an FSA ID and Complete the Free Application for Federal Student Aid (FAFSA)

Students (and parents of incoming students applying for institutional need-based scholarships) should create an FSA ID at least one week prior to completing the FAFSA. Learn more about the FSA ID, the FAFSA, using the Data Retrieval Tool to upload income and tax return information, as well as view some frequently asked questions about the application process in the following tabs.

Be sure to include Oakland University Federal School Code (002307) to ensure OU Student Financial Services will receive the FAFSA.

Financial Aid Awards

OU Student Financial Services will email electronic award notifications to students. The notification email will instruct students how to view the amount and types of financial assistance for which they are eligible on MySail.  Admitted students will also receive instructions to activate their MySail account in the notification. If there are any changes or updates to the student's financial aid award package, a revised award notification will be emailed.  If a situation occurs which significantly impacts the household's current financial standing, students should contact OUWB Financial Services.  



Incoming Students Applying for Institutional Need-based Scholarships
Incoming students wishing to be considered for institutional need-based scholarships are required to complete a FAFSA and include their parental information. OUWB does not require students to submit a separate scholarship application in order to be considered for need-based institutional awards. You may, however, be required to provide verification documents such as federal tax return transcripts.

Students receiving scholarship awards will be notified promptly once a decision has been made. Be aware that all institutional scholarships for incoming students are incorporated into financial packages by mid-May and may require the adjustment of other forms of financial aid.

More detailed information regarding the OUWB scholarship selection process can be requested by contacting the Medical School Admissions Team via e-mail at medadmit@oakland.edu.

*Students over the age of 30 as of August 1st, do not need to include parental information.
FAFSA

Beginning October 1, 2017 students should file their 2018-2019 Free Application for Federal Student Aid (FAFSA) to apply for financial aid earlier than ever before. Students are encouraged to apply for financial aid beginning October 1, or as soon thereafter as possible, to increase their opportunity to receive aid awarded on a first-come, first-served basis.

Drop-In FAFSA Workshops are available to current OU students Monday-Friday from 8:00am to 5:00pm in Student Financial Services. Current students are encouraged to get help renewing their FAFSAs as soon as possible.

Students who complete their 2018-2019 FAFSA in October can expect to begin receiving their financial aid award notifications in December.

FSA ID

To access and sign the Free Application for Federal Student Aid (FAFSA), as well as access federal websites related to financial aid, students must create an FSA ID. Parents whose information is included on the FAFSA must also create an FSA ID to sign the FAFSA electronically, as well as to access federal websites related to financial aid.

You will need to complete the following when creating your FSA ID:

  • Provide personal email (unique to each user)
  • Provide social security number
  • Provide birthdate
  • Select two challenge questions
  • Create two challenge questions
  • Select an important date (not your own birthdate)

The FSA ID should be created at least one week prior to completing the FAFSA.

Create an FSA ID now.

FAQ

Below are some frequently asked questions about the changes in the financial aid application process, effective October 1, 2017 for the 2018-2019 FAFSA. If your question is not answered below, review information from the Federal Department of Education for college students and parents.

Do I still have to complete a FAFSA every year?
Yes, every student should complete a FAFSA every year beginning October 1, for the next school year they plan to attend.

Why should I apply so early?
Some financial aid is awarded on a first-come, first-served basis, so the earlier you apply, the bigger and better your financial aid package could be.

How will an earlier FAFSA and the change to the income year benefit me?
Benefits include:
  • Students (and their parents, if applicable) will not need to estimate income information and will not need to update their income information as in the past since the FAFSA now only requires taxes already filed.
  • There will be more time for students to explore and understand financial aid options and apply for private scholarships.
  • Applying early means getting your award notification earlier. Students who file October 1 or shortly thereafter, can expect to begin receiving award notifications in December.
  • Students will be more prepared for the payment due date.
  • Receiving an award notification earlier encourages students to complete their financial aid requirements earlier.

How will I complete the FAFSA in October if I don’t file taxes until the following April?
Beginning with the 2017-18 FAFSA, students (and parents, if applicable) will be able to report income and tax information from an earlier tax year. For the 2018-2019 FAFSA, applicants will report their 2016 income and tax information. For the 2019-2020 FAFSA, applicants will report their 2017 income and tax information.

After I have completed my 2017 taxes, will I need to update my 2018-2019 FAFSA?
No. The 2018-2019 FAFSA will only use 2016 tax return information.