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.
Uncover the various financial aid options provided by Oakwood and determine which ones you may be eligible for by continuing your exploration.
Oakwood University average financial aid offer for freshmen students is $10,434.00. A significant 100% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at Oakwood University.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The stats below refer to aid that is provided by Oakwood University.
83% of new students (247 total) were offered scholarships at Oakwood University, averaging $9,139.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 49% of freshmen (146 total) received a federal grant, for about $5,771.00 a person.
Amount of Financial Assistance Per Income Level
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 26.76% | $11,719.00 |
| Income 30k-48k | 18.73% | $7,786.00 |
| Income 48k-75k | 12.37% | $13,136.00 |
| Income 75k-110k | 14.72% | $10,102.00 |
| Income 110k + | 19.73% | $11,524.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
100% of the 299 undergraduates at Oakwood University receive some sort of grant aid. This is a total of about 299 students getting an average of $10,434.00 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.