Financial aid is the money available to help students and their families meet college expenses. Sources may be federal, state, private or institutional.
Types of Financial Aid
- scholarships: money that does not need to be repaid, may or may not be based on need
- work/study: money that is paid for work performed while in school
- grants: money that does not need to be repaid, usually based on need
- loans: money that is borrowed and must be paid back, usually includes an interest rate charge
The philosophy of financial aid is that it is the parent and student responsibility to pay for higher education expenses to the extent they are able, and that the family’s financial circumstances should be evaluated in a consistent and equitable manner in determining the amount of aid they are eligible to receive.
Federal and State Aid
FAFSA, the free federal financial aid form is required by most colleges if you are applying for scholarships and/or financial aid. Gather supporting documents and information prior to filing the form in October of your senior year.
- Form must be filled out electronically at www.fafsa.ed.gov
- Both the student and parent will each need a PIN for login. Apply for the PIN at www.pin.ed.gov
The Office of Student Access and Completion is a state program that helps Oregon students plan and pay for college.
Oregon Promise Grants
Oregon Promise is a state grant program that helps to cover most tuition costs at any Oregon community college for recent high school graduates and GED® recipients. Oregon Promise award amounts for are available in the OSAC Student Portal.
Students applying for this grant must meet all of the following criteria:
- Complete an Oregon Promise Grant Application by the appropriate deadline
- Be a recent Oregon high school graduate or GED recipient
- Document a 2.5 cumulative high school GPA or higher; or a GED score of 145 or higher on each test
- Plan to attend at least half-time at an Oregon community college within 6 months of high school graduation or GED completion
- Be an Oregon resident for at least 12 months prior to attendance
- File a FAFSA or ORSAA application and list at least one Oregon community college
- Must not have more than 90 college credits completed or attempted
- Beginning with Fall 2017 applicants, students may be subject to eligibility criteria based on their Expected Family Contribution (EFC). The EFC limit for 2017-18 applicants is $18,000.
Check with the school you plan to attend: the school’s website or catalog for scholarships/financial aid opportunities. Check under Financial Aid and/or academic departments.