$4,693

Avg. Federal Grant

$4,861

Avg. Federal Loan

$79,052,466

Total Aid Awarded

Oakland University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

64%

Total Aid Amount Average Total Aid Awarded per year.

$79.052M

Financial Aid Official Website

www.oakland.edu/financialservices

Among them are scholarship programs such as Academic Achievement Award, Anibal Excellence Scholarship, Art and Helen Nickless Scholarship, and Auburn Jaycees Education Scholarship. As many as 94% of the students at OU get some sort of financial aid, and the total amount of assistance/loans provided is more than $50,727,061 in a year. More information regarding the financial assistance schemes can be accessed on OU’s official financial aid page at http://www.oakland.edu/financialservices. Notably, a total of 35% of the applicants to Oakland University receive the Federal Grant every year. Meanwhile, 89% of the applicants receive the Student Grant and 88% are awarded the Institution Grant, while 35% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,813, while the same comes to $1,085 for State Grant receivers and $8,291 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,461. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At Oakland University, the percentage of candidates who opt to avail of student loans is around 50%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

34%

State Grant Aid

6%

Institution Grant Aid

85%

Pell Grant

34%

Average Aid Awarded

Federal Grant Aid

$4,693

State Grant Aid

$1,004

Institution Grant Aid

$7,478

Pell Grant

$4,506

The financial aid includes Federal Grants, Pell Grants, State grants and Institutional grants, with Institutional grants having the highest contribution of 85% with an average aid amount being $7,478.

Pell grants have a percentage of 34% with an average aid amount of $4,506 which is higher than the State grant aid average of $1,004.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$14,055

$30,001 - $48,000

$13,927

$48,001 - $75,000

$11,594

$75,001 - $110,000

$6,102

Over $110,000

$3,359

For the Federal-aid based on family income, the lower the family income the higher is the amount of aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $14,055 while those with family income over $1,10,000 can expect to receive an aid amount of $3,359.This helps students who are coming from low-income homes to pay for their degree

Student Loans for Oakland University

Average Loan Amount Average Loan Amount received per year.

$5,271/Year

Students Taking Out Loans

50%

Loan Default Rate

4.4%

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