Schools will prepare a financial aid offer package according to your need. Need is the difference between the cost of attendance and the expected family contribution. The award is called a "package" because it will include all types of aid you are eligible for and could include funds from student loan(s), work-study, state and federal grant programs.
Federal and State Grants
Grants are often referred to as "gift aid" because they are free money - financial aid that does not have to be prepaid. Grant are often need-based and may come from the federal and state government. Grants at COCC include:
- Federal Pell Grant
The Federal Pell Grant program was established as a federal program to provide gift aid for eligible undergraduate students with financial need. Federal Pell Grant awards depend on your EFC, cost of attendance and enrollment. If you have a prior bachelors degree, you will not be eligible. If you are enrolled in less than 12 credits, you may receive the Federal Pell Grant at a pro-rated amount. Click here to view the pro-rated percentages. Federal Pell Grants may be paid to you if you are enrolled in summer term.
- Federal Supplemental Educational Opportunity Grant (SEOG)
Federal SEOG awards are federally funded and considered gift aid. The Federal SEOG is for undergraduates with exceptional financial need and are $600 per year at COCC. If you are enrolled for the term at least 1 credit, you will receive 100%. Not everyone who qualifies will receive this grant due to limited federal funding. If you have a prior bachelors degree, you will not be eligible.
- Oregon Opportunity Grant (OOG)
Eligibility is based on financial need as defined by the Office of Student Access and Completion using the FAFSA information and is limited to 12 cumulative quarters. You must have a minimum of one year legal residency in Oregon and be enrolled in at least 6 credit hours each term. If you have a prior bachelors degree, you will not be eligible. You may receive a varied amount depending on financial eligibility and enrollment. The Opportunity Grant is not available for summer term.
The Oregon Promise provides grants to new high school graduates and GED recipients who will begin community college classes in Fall. This grant program is administered by the Office of Student Access and Completion (OSAC) in Oregon's Higher Education Coordination Commission (HECC).
Federal Work-Study Program
The Federal Work-Study Program provides part-time employment for undergraduate students with financial need, allowing them to earn money to help pay for educational expenses. You may participate in this program even if you are part-time. Not everyone who qualifies will receive this funding due to limited federal funding. To find out more about the Federal Work-Study Program, click here.
William D, Ford Federal Direct Loan Programs
Federal Direct Loans is the largest federal student loan program. Under this program, the U.S. Department of Education is your lender. There are three types of loans available at COCC:
- Federal Direct Subsidized Loan
Subsidized loans are for students that have demonstrated financial need by federal regulations. No interest is charged while you are enrolled in school at 6 credits, during the 6 month grace period and during any deferment periods. You must be enrolled in at least 6 credits to qualify for disbursement. Learn more about the Federal Direct Subsidized Loan Program, click here.
- Federal Direct Unsubsidized Loan
Unsubsidized loans are not based on your financial need. Interest will accrue on this loan once we disburses the funds to your student account. You may have the interest accrue until repayment begins at which time the interest will become capitalized. You must be enrolled in at least 6 credits to qualify for disbursement. Learn more about the Federal Direct Unsubsidized Loan Program, click here.
- Federal Parent Loans for Undergraduate Students (PLUS)
Federal PLUS loans enable parents, stepparents, or adoptive parents of a dependent undergraduate student to borrow money to supplement their child's college expenses. Federal Direct Loans are borrowed directly from the federal government and have a single contact for everything related to the repayment of the loans. Many families find Federal PLUS loans an attractive alternative to using lifetime savings or investments for educational expenses. Learn more about the Federal PLUS Loans.