Oakwood University Financial Aid and Scholarships
Students Receiving Aid
89%
Total Aid Amount
$11.589M
Financial Aid Official Website
www2.oakwood.edu/financial-aid/
It is interesting to note that almost every student at OU receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $8,399,614. One can visit OU's financial aid page at http://www2.oakwood.edu/financial-aid/ for more information. The total percentage of candidates applying to Oakwood University who receive the Federal Grant is 55%. Meanwhile, 100% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 55% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,385, the State Grant receivers and Institution Grant beneficiaries get $905 and $10,880, respectively. And, for the Pell Grant awardees, the average aid amount is $4,765. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Students whose family income per annum is less than $30,000 will receive a federal aid of $11,230 on average in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $10,784 and $9,640, respectively. On the other hand, the average federal aid stands at $5,822 for those with an annual family income between $75,001 and $110,000, and at $9,874 for an income more than $110,000. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Oakwood University, the percentage of candidates who opt to avail of student loans is around 74%.
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