Frequently Asked Questions

Financial registration has been automated. The estimated bill is online https://my.oakwood.edu/ICS/Student/Student_Accounts.jnz to allow you to see all your activity (classes, charges, awards, and the amount required to register). When you have met at least the 70% minimum amount required to register, you are financially cleared; however, if you do not pay 100% of your bill, then a monthly payment plan contract is required. You can proceed to get your student identification (ID) card validated by Student Services and move into your resident hall. The Watchword for the Student Account Office is ON-LINE. Go on-line so that you will not be in line. If you have not been automatically cleared and the system indicates you are not financially clear, pay the required amount online. If you have supporting documents that will cleared you, either email ocsa@oakwood.edu or fax your estimated bill with the supporting documents that will clear you to (256) 726-7133. Please note the telephone lines are constantly busy closer to registration, so go online to the course and fee statement and pay the amount due and be automatically cleared. You may also call (256) 726-7791 to get valuable information regarding your account.

 

Every student that is financially clear is eligible to receive $500.00 in a bookstore line of credit. Only the amount you purchase at the bookstore will be placed as a charge on your account. If you cleared at 70% and your books cost more than $500.00 you must cover the difference. A list of financially cleared students is given to the bookstore daily during registration. Please allow at least two (2) hours from the time of clearance before purchasing your books. You may receive an additional line of credit only if you are more than 100% cleared. Please get the total cost of all your books from the bookstore before coming to Student Accounts to get an additional credit limit.

 

You are given soft credit for loans, scholarships, discounts and subsidies. The source of those funds must be receipted on your account before your balance is reduced. Oakwood University awards academic scholarship, worthy scholarships, family discounts and worker discounts to qualified students. These awards are posted after the last day for 50% Tuition Refund”. Check your school calendar for that date each semester. PELL, SEOG and other federal grants are posted once your status has been verified and confirmed by the Financial Aid Office. Those grants are generally posted between 30-60 days after the first day of class. When the loans have been certified by Financial Aid and the government has disbursed your funds, they will post to your account within 3 days. All other grants, subsidies, scholarships, private loans are credited to your account when the funds are received.

 

If you are checking on line, be sure to use the option “my account balance” and not the course and fee statement. The course and fee statement is for registration purposes. If your account balance indicates ‘these transactions are suspended” to the right of the amount, then those transactions are soft credit and not yet posted on your student account. Once your loans have been awarded, your class attendance and enrollment status is verified and confirmed, the Financial Aid Office sends verification and certification to the Government. The following process can take between 30-60 days from the first day of class. Once the funds are received, it should take 3 days to post to your account. Go to MyOakwood to see when your funds have been posted to your account. First time borrowers must wait 30 days from the first day of enrollment before funds are released to the account. If your loan is with a private Lender, a disbursement roster is sent directly to the Office of Student Accounts.

 

A soft credit is any source of funds that we have determined will be credited to your account, but which Oakwood University does not have at the time of financial clearance. These credits are used to allow you to register; however, it is your responsibility to ensure that those sources of funds are posted to your account within the time frame listed. The following are considered soft credit: Loans, Scholarships, Grants, Subsidies and Discounts.

 

It is your responsibility to carefully check over your statement of account. Tuition, general fees, lodging, meals, health fee, health insurance, lab fees and fines are all debits to your account. All payments-cash, credit card, money orders, cashier’s checks, online payments and bank wires are credits to your account. A credit balance (minus in front of the dollar amount) means we owe you. A debit balance means you owe us. It is very important that you go over your account during the current semester to make sure all sources of funds have been received and that all debits and credits are posted. Please notify Student Accounts immediately if there is a discrepancy. Complete the Student Inquiry Form located on-line, or in the Student Account Office or the Student Information Center.

 

There are two categories for church sponsored scholarships. The three-way and the two-way. The churches send the funds for these scholarships to the conference office. The conference office knows how many eligible slots they have for awarding scholarships. When they send the funds and the list to Oakwood University, they indicate if it is a three-way or two-way scholarship. Oakwood University does not determine if it is a three-way or two-way scholarship. Apply early for these scholarships and contact your church or conference office if you have a question concerning your particular award.

 

You can qualify for a refund of all eligible funds only when you have a credit on your account. OU discounts and institutional funds (work scholarships, academic scholarships, worthy scholarships), are NOT refundable. Example, if you have a credit and the source of your credit is from an academic scholarship, Oakwood discount, or work scholarship, you are not eligible for a refund from those funds. Please check your account at MYOakwood to make sure you have an eligible credit before applying for a refund. If you paid 100% of your expenses, your work scholarship can be process as a direct deposit with the Office of Student Employment.

 

If you have been separated from the University for one semester or more and you owe Oakwood University, you may have a financial hold on your account. The Student Account’s Office sends statements to the last known address on file. If you have not cleared your account from a previous semester, and you have not made contact, or monthly payments with the Office of Financial Resolutions, your account could have been placed with a collections agency. Once your account has been placed with the collections agency, you should deal directly with that agency. You are also responsible for all collection and legal fees. It is essential that you clear your account before the end of each semester.

 

Student Accounts does not have the authority to waive or take off charges on your account, other than to make tuition adjustments, if applicable. Please contact the following departments (IN THE SEMESTER THE CHARGE OCCURS) for resolution: Tuition Charges are based on the hours registered-Registrar’s Office; Chapel fines-Student Services; Dorm fines-Your particular dorm; Transportation/Security fines-Public Safety; Health Insurance-Health Services (before the last day to clear); Library Fines-Library. Please follow up by checking your account at MyOakwood to make sure there has been resolution.

 

Off-campus students can choose to put the first $200.00 meal plan on their account during registration by requesting it at the Student Services Office. The first $200.00 meal plan will be automatically charged to resident students staying at West Oaks and the Annexes. In order to receive an additional $200.00 meal plan, you must have a credit on your account that will cover the meal plan charge. The $200.00 Dining Dollars can be purchased at the Student Accounts Office.

 

The Financial Aid Office processes all scholarships, grants and loans. The Financial Office must verify and confirm your enrollment and attendance before you are awarded any funds. You must complete the FASFA in order to qualify for most financial aid awards. Visit the Financial Aid site at www.oakwood.edu to learn how to apply for financial aid to help fund your post-secondary education.

 

The Student Account Office maintains all financial data on the statement of your account. We post all charges and credits to your account, as well as receipt all University revenues. We produce financial statements of your account. We handle financial clearance, process refund requests and coordinate with tuition payment providers. We are here to assist you in any way we can and we encourage you to utilize self-help by going to MYOakwood and keeping up with the data on your account.