by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
Interested in understanding the financial aid resources available at Oakland and your eligibility? Find the answers you seek below.
$8,958.00 is the typical Oakland University’s first year financial aid package. Approximately 93% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Oakland University you may end up taking on.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
87% of new students (2300 total) were given scholarships at Oakland University, averaging $7,992.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 33% of first-year students (878 total) got federal grant aid, averaging $5,110.00 per person.
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.57% | $14,829.00 |
| Income 30k-48k | 8.70% | $14,939.00 |
| Income 48k-75k | 10.25% | $11,770.00 |
| Income 75k-110k | 9.42% | $7,636.00 |
| Income 110k + | 11.58% | $3,616.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
93% of the 2633 undergraduates at Oakland University receive some sort of grant aid. This is a total of about 2323 students getting an average of $8,958.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.