When the financial aid award and/or cash payments exceed university charges, the student is eligible to receive a refund. The Office of Student Accounts processes refunds of the excess credit balances to students. Funds are available within three (3) days of disbursement from the federal government. Students who borrow from the Federal Stafford Loan Program for the first time here at Oakwood University will receive refunds of the credit balances stemming from loan proceeds at least thirty (30) days after the first day of enrollment per federal guidelines. Entrance interviews must also be conducted with all students before the loans can be released.
As required by federal regulations, Oakwood university and the student will be required to return to the Federal financial aid program, the amount of aid that was in excess of aid “earned” for the time period the student was enrolled.
Students receiving financial aid should consult with the Financial Aid Office concerning the possible effect of awards received caused by withdrawal or change in course-load. Any remaining balance on account must be paid at the time of withdrawal or dismissal.
*The percentage of the semester completed is the percentage of aid earned. This is calculated by the number of days attended divided by the number of days in the semester.
Students may withdraw from Oakwood University by submitting a “Withdrawal Form” to the Registrar’s Office. Calculation of refunds or tuition adjustments shall be based on the date the Registrar receives the signed and completed withdrawal form.
*Examples of refund calculations are available for review in Student Accounts.
All students applying for, or receiving Title IV Federal Assistance at Oakwood University must progress satisfactorily towards completion of a chosen academic or vocational program.
**’My Account Balance’ will show you the amount that you owe Oakwood University or the amount Oakwood University owes you on the grand total line. If you click on a previous balance (amount in blue), you will see the details of all credits and charges.***’The Course and Fee Statement’ is the estimated bill and is used for registration purposes. Once registration is closed, go to My Account Balance.
REMEMBER: You must be financially cleared to attend class. You must inform the Registrar's Office and Student Accounts if you do not plan to return for the semester you entered classes.***You must have a user ID and password to access MYOakwood. First time students are sent that information. Follow the instructions on-line regarding your ID and password.
Student Accounts7000 Adventist BlvdHuntsville, AL 35896Telephone 1: (256) 726-7383Telephone 2: (256) 726-7379Fax: (256) firstname.lastname@example.org