- Federal Pell Grant: A need-based grant program only for undergraduate students. Pell Grant awards vary in amount each year and are based on expected family contribution (EFC) and hours of enrollment.
- Federal Supplemental Educational Opportunity Grant (FSEOG): A need-based, grant program award to early applicants who demonstrate the greatest financial need on a “first come-first-serve” basis.
- Federal Work Study: A need-based student employment program that provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay educational expenses.
- Federal Subsidized Stafford Loan: Loans made to eligible undergraduate students who demonstrate financial need. Interest is subsidized while a student is enrolled in school at least half time.
- Federal Unsubsidized Stafford Loan: Loans made to eligible undergraduate, graduate and professional students, but eligibility is not based on financial need. Interest begins accruing on the date the loan is received. Applicants may choose to pay the interest only or allow it to accumulate and capitalize (added to the principal amount of the loan) until they graduate or leave Oakwood.
- Federal PLUS Loan: Loans made to graduates or professional students or parents of dependent undergraduate students. Eligibility is not based on financial need, but a credit check is required.