Frequently Asked Questions

Financial registration has been automated. Your estimated bill is printed to allow you to see all your activity (classes, charges, awards, and the amount required to register); however, no paperwork is needed to prove you have financially cleared. When you have met at least your 70% minimum amount required to register, you are cleared in the computer system, then you must get your student identification (ID) card validated by Student Services. The Watchword for the Student Account Office is ON-LINE. Go on-line so that you will not be in line. You must inform the Student Accounts Office that you want to financially clear either by email ocsa@oakwood.edu, or fax your estimated bill to (256) 726-7133 or as a last resort telephone (256) 726-7483.  Please note the telephone lines are constantly busy closer to registration, so you would do well to use one of the first two options.

Book vouchers are no longer issued. The amount you charge at the bookstore will be placed as a charge on your account. Every student that is financially clear can receive a bookstore credit limit for books in the amount of $400.00. You can only charge up to $400 on your account. You may receive additional 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 if you are more than 100% cleared. If you clear with 70% and your books cost more than $400.00 you must cover the difference. A list of financially cleared students is given to the bookstore daily during registration.

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 to withdraw with a “W”. 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 30 days after the first day of class. All loans should be posted within 3 days of notification from the lender. All other grants, subsidies, scholarships, private loans are credited to your account when the funds are received.

Once your loans have been awarded, your enrollment status is verified and confirmed and the Financial Aid Office sends verification to the Lender. The Lender will send a Disbursement Roster. From the time the list is received, it should take 3 days for your loan amount to get posted 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 cashier’s check will be mailed to the University in your name. You will be notified and once you have signed the check, it will be posted to your account.

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.

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 Booth.

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 determines 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 and RA packages), 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 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. Please contact the following departments (IN THE SEMESTER THE CHARGE OCCURS) for resolution: 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.

The Financial Aid Office processes all scholarships, grants and loans. The Financial Office must verify and confirm your enrollment 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. The Student Account Office is committed to quality customer service for all students, parents, administration, faculty and staff. We are committed to returning all telephone calls within 48 hours. 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.