Financial Aid at a Glance

Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation.  Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965.  These programs provide grants, loans and work-study funds to student attending college.  Federal Student Aid may help cover expenses such as tuition and fees, room and board, books and supplies, and transportation. 

Use FAFSA4caster to get an estimate of how much aid you might receive from the U.S. Department of Education.



Type of Aid
2014-15 Award Year

Other Information

Annual
Award Limits

Disbursement

Enrollment Requirement

Pell Grant

Available to undergraduates only.  Does not have to be repaid.

up to $5,730

School applies funds to students once each term.

Prorated:
12+ credits receive 100%,
9-11 credits receive 75%,
6-8 credits receive 50%,
1-5 credits receive 25%

Supplemental Education
Opportunity Grant

Available to undergraduates only. Does not have to be repaid.

up to $600

School applies funds to students once each term.

Must be enrolled in credits.

Oregon Opportunity Grant

Does not have to be repaid.

amount will vary

School applies funds to students once each term.

Students enrolled in six credits or above may receive a prorated amount.*

Federal Work-Study Program 

Money is earned and does not have to be repaid.

Rate of pay begins at minimum wage.
May earn up to $3,600

School issues check to student once a month for actual hours worked.

Must be enrolled in credits.

Direct Subsidized Loan

The Department of Education pays interest while the student is in school and during grace and deferment periods. Money is borrowed and does have to be repaid.

Freshman:
1-44 COCC credits up to $3,500.
Sophomore:
45+ COCC credits up to $4,500.

Department of Education provides the funds for schools to apply toward students.

Must be at least 6 or more credits.

Direct Unsubsidized Loan

The student is responsible for the interest. Money is borrowed and does have to be repaid.

Dependent student may borrow up to $2000.
Independent student may borrow up to $6,000.

Department of Education provides the funds for schools to apply toward students.

Must be at least 6 or more credits.

Parent Loan to Undergraduate Student

Available to parents of dependent undergraduate students. Money is borrowed and does have to be repaid.

Cost of attendance minus any other financial aid received.

Private lenders provide funds to schools to disburse to students.

Must be at least 6 or more credits.

* The Oregon Opportunity Grant is an ESTIMATE based on state economic information. This amount may be adjusted when final state appropriation levels are known

 

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