Financial Aid and Veterans

Financial Aid and Veterans Office

Takena Hall 117, 541-917-4850

Fax: 541-917-4864

www.linnbenton.edu/financial-aid

The Financial Aid and Veterans Office at Linn-Benton Community College (LBCC) offers all students the opportunity to obtain a quality education.  The Veterans Department is staffed by a Veterans Coordinator who is available to assist all Veterans with their questions about their benefits.

All students and veterans are encouraged to stop by to learn how the office can assist them with their educational endeavors at LBCC.

Student Eligibility Requirements

  • admitted to LBCC (full- or part-time);
  • enrolled in an eligible program (degree and certificate) at least one year in length (some exceptions apply);
  • males must have registered with the Selective Service (if required to do so);
  • earned a high school diploma, GED or home schooled;
  • not attending an elementary or secondary school;
  • United States citizen or an eligible noncitizen;
  • not in default status in any federal loan programs;
  • no repayment of refund towards any federal grant program.

The Federal Direct and PLUS Loan programs require a minimum enrollment of six credit hours (half-time enrollment). Federal Grant programs mandate that students be admitted and working towards completion of a degree or certificate. Oregon Opportunity Grant mandates that the student must be a resident of Oregon for a year prior to the start of school, and be enrolled at least half time (six credit hours).

The Oregon Promise State Grant covers some or all tuition at any Oregon Community College for recent high school graduates and GED recipients. To apply, go to OregonStudentAid.gov and follow the instructions. Note the application deadlines.

Federal and State Program Eligibility Requirements

Eligible programs need to be at least one year in length (some exceptions apply) and must lead to completion of a degree or certificate. Eligible one-year programs must provide training to prepare students for "recognized occupations" as defined in the Dictionary of Occupational Titles. Upon completion of one-year certificate programs, students are required to enter into the workforce.

Accelerated Certificate Training Programs at LBCC

LBCC offers one short-term training programs that has been approved by the U.S. Department of Education. Students may be eligible to participate in the Pell Grant, Supplemental Education Opportunity Grant (SEOG), and Direct Loan programs. Annual grant and loan limits are prorated based on the length of the programs. The accelerated certificate training programs are not eligible for the Oregon Opportunity Grant, Oregon Promise Grant, or Federal Work Study. The approved program is:

  • Phlebotomy

Application Procedures

All students who receive federal and state aid at LBCC must be admitted to the college. (Refer to the How to Get Started - Admission section of the catalog for information about seeking degrees or certificates).

The first step in applying for federal and state aid at LBCC is to complete the Free Application for Federal Aid (FAFSA). The FAFSA is available October 1 of each year. You may apply for aid at any time throughout the year; however, financial aid funds are limited. If you apply after February 1, you may find that some federal and state programs will not be available for awarding. LBCC uses the FAFSA to determine the amount a family and student can contribute to the cost of a college education. The use of this federally approved aid application assures every applicant fair and equitable treatment. LBCC’s financial aid process can be found at: linnbenton.edu/financial-aid.

Students are strongly encouraged to visit LBCC's financial aid website for our Priority Deadline Dates. Failure to read and follow the financial aid steps towards completion of your application for federal and state aid may delay your award or, in some cases, your state aid may be cancelled. Completing the FAFSA is just the first step in obtaining an award from LBCC. Failure to turn in other outstanding requirements will delay processing of your financial aid at LBCC. To avoid any delay in obtaining an award letter, stay in contact with the Financial Aid Office and respond to all emails or telephone calls for additional information from LBCC Financial Aid.

Upon receiving your FAFSA information electronically from the Central Processing Servicer (CPS) you will be notified by the financial office of any other outstanding requirements. Other requirements may be: IRS tax return transcripts, copies of all W-2's for the year, proof of identity, proof of U.S. citizenship, proof of social social security number, etc. You will be notified by email concerning your eligibility. Once you are admitted to LBCC, you are assigned an LBCC email which is used for all email correspondence. If you have not been assigned your LBCC email (not admitted), we will correspond with you via the email you provided on the FAFSA. Allow 8 to 10 weeks from submission of all required documents for the entire process from application to award. You may track your progress through your WebRunner student account.

Financial Aid Satisfactory Academic Progress Policy (SAP)

To receive financial aid, you must fulfill the standards of satisfactory academic progress. Additionally, if you are not in good standing with the institution's academic standing (i.e., academic or disciplinary suspension), you will not be eligible for future aid until you have resolved your issues with the institution. A copy of the Financial Aid Satisfactory Academic Progress policy is available at the Financial Aid Office and online at linnbenton.edu/financial-aid in the "Academic Standards area."

Financial Aid Disbursement Policy

Financial aid is direct deposited to a student’s bank account (or sent via paper check, if the student has not signed up for direct deposit) after the add/drop period (the second week of the term). Simply stated, financial aid funds are disbursed during the second week of each term.

Note: If your financial aid was based on full-time attendance and you elect to register for fewer credit hours, your financial aid will be adjusted automatically to reflect the reduction in course load. Check your Webrunner account on a regular basis.

Students admitted into the LBCC/OSU Degree Partnership Program may have their credit hours taken at both schools combined to determine their eligibility for federal, state and institutional financial aid. Financial aid is available for qualified students who are dually admitted. For further information about the DPP program, contact the Admissions office at OSU, 541-737-4411 or LBCC Admissions at 541-917- 4811 or visit linnbenton.edu/degree-partnership.

Withdrawal Information

The U.S. Department of Education regulations mandate that federal financial aid recipients "earn" their aid by attending and participating in class. Recipients cannot earn all of their aid funds unless they maintain attendance and participate in class for 60 percent or more each term.  

Students, who withdraw from all of their courses after receiving federal funds or stop attending prior to the 60 percent, may be required to repay some or all of the aid disbursed to them. In conjunction, these students will be placed into "unsatisfactory" SAP status with the financial aid office.

Note: If financial aid paid tuition/fees, and if a student is granted a 100% refund of tuition, the refund will be made to the account that paid the tuition/fees.

2020-21 Financial at 60 Percent Dates for Each Term

August 7, 2020 - Summer 2020

November 12, 2020 - Fall 2020

February 18, 2021 - Winter 2021

May 13, 2021 - Spring 2021

Financial Aid Programs and Sources

  Eligibility Requirements Amounts Available Special Information
GRANTS
Federal Pell Grants
  • Be an undergraduate student at a 2- or 4-year public or private college that participates in the federal Title 4 programs.
  • Admitted, degree-seeking students enrolled for one or more credits may be eligible.

  • Amounts are based on financial need as defined by the FAFSA.
  • Awards are based on expected family contribution.

  • Upon completing the Free Application for Federal Student Aid (FAFSA) The Department of Education will provide the student with a Student Aid Report (SAR) indicating their eligibility.

Oregon Opportunity Grants
  • Complete and submit the FAFSA.
  • Be an Oregon resident.
  • Be an undergraduate student at a 2- or 4-year public or private college that participates in the federal Title 4 programs.
  • Be enrolled at least half time (six or more credits per term) in a certificate- or degree-granting program Fall Term.
  • Meet the filing deadline date published by the Oregon Office of Student Access and Completion.
  • Oregon Opportunity Grants (OOG) are transferable to other Oregon institutions and are renewable for a maximum of 12 quarters.
  • Amounts are awarded by Oregon Office of Student Access and Completion.
  • OOG is not offered in summer terms.
Oregon Promise Grants
  • 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.
  • Enroll at least half-time (6 or more credits) 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 enrolling in community college.
  • Have filed a FAFSA or ORSAA application and listed at least one Oregon community college.
  • Be enrolled at least half time (6 or more credits per term) in a certificate- or degree-granting program Fall Term.
  • Meet the filing deadline date published by the Oregon Office of Student Access and Completion.
  • Oregon Promise Grants are awarded by Oregon Office of Student Access and Completion.
  • Oregon Promise Grants for the 2018-2019 Academic Year are subject to Legislative Funding.
  • Oregon Promise Grants are not offered in summer term.
Federal Supplemental Educational Opportunity Grants (SEOG)
  • Be an undergraduate student at a 2- or 4-year public or private college that participates in the federal Title 4 programs.
  • Be enrolled at least half time (6 or more credits per term) in a certificate- or degree-granting program.
  • Minimum and Maximum SEOG amounts are determined each year (check with the financial aid office)
  • Eligibility for SEOG is contingent upon students being eligible for Federal Pell Grant.  SEOG is awarded to students with the highest need (beginning with a  zero expected family contribution (EFC).
WORK STUDY
Federal Work Study Program
  • Undergraduate students and students who have bachelor’s degrees are eligible to participate.
  • Be enrolled at least half time (six or more credits per term) in a certificate- or degree-granting program.
  • Students are paid current minimum wage for work performed. Higher wages are paid to returning student workers and for jobs requiring certain skills.
  • Employment during the school term may not exceed 20 hours per week.
  • When possible, the student is placed in a job compatible with his or her career goal.
STUDENT LOANS

Federal Direct student loans are available, however, they are required to be repaid. LBCC encourages responsible borrowing.  Do not borrow more than you can afford to repay. You are strongly encouraged to borrow only what you need for your educational expenses. Failure to repay student loans results in a poor credit rating which makes it difficult to secure credit in the future. All Federal Direct Loans require a minimum enrollment of six (6) credits or more.

What is a Subsidized Loan: These loans are for students with demonstrated need, as determined by federal regulations. No interest is charged while a student is in school at least half-time (6 credits), during the grace period, and during deferment periods.

What is a Unsubsidized  Loan: These loans are not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

Federal Direct Student Loans
* Information subject to change.
  • Eligibility is determined by the FAFSA.
  • Be enrolled at least half time (six or more credits per term) in a certificate- or degree-granting program.
Effective July 31, 2013, there will be a new limit on eligibility for Direct Subsidized Loans for new borrowers on or after July 1, 2013. New borrowers who begin their college enrollment on or after July 1, 2013 will not have access to subsidized loan funds beyond 150% of the credits required for their degree or certificate program.

Dependent 1st Year Student

  • Base (Sub & Unsub): $3,500
  • Additional Unsub: $2,000

Dependent 2nd Year Student

  • Base (Sub & Unsub): $4,500
  • Additional Unsub: $2,000

Independent 1st Year Student

  • Base (Sub & Unsub): $3,500

 

  • Additional Unsub: $6,000

Independent 2nd Year Student

 

  • Base (Sub & Unsub): $4,500
  • Additional Unsub: $6,000

 

 

  • A Master Promissory Note is required to be signed by the student prior to borrowing for all Direct Loan Programs.
  • A loan origination fee is charged. This rate is set by federal legislation and will change each October 1. The loan fee for a Direct Subsidized Loan and Direct Unsubsidized loan disbursed on or after October 1, 2019 and before October 1, 2020 is 1.059%.
  • The interest rate on a Federal Direct Loan disbursed on or after July 1, 2019 and before July 1, 2020 is 4.53% which changes annually on July 1. Note: The interest rates for federal student loans are determined by federal law.
  • Loan repayment begins  six (6) months after graduation, dropping below half-time(6 credits), or withdrawing from an academic program. The Department of Education grants one (1) grace period.  Once the six (6) month grace period ends, repayment begins.
Federal Plus Loans
  • These loans are available to parents of dependent undergraduate students regardless of need.
  • PLUS loans require a credit check for the borrower.  PLUS loan borrowers cannot have an adverse credit history.
  • A FAFSA must be filed.
  • The student must be enrolled at least half time (six or more credits per term) in a certificate- or degree-granting program.
  • Parents may borrow up to the Cost of Attendance (minus all other financial aid assistance the the student has been awarded).
  • There is no longer an aggregate maximum under this program.
  • Your FAFSA application must be completed and processed before eligibility for the PLUS Loan can be determined.
  • Federal PLUS loans may be used to substitute for the expected family contribution (EFC).
  • If the borrower of a PLUS loan is determined to have an adverse credit history, they may obtain an endorser who does not have an adverse credit history. Note: An endorser is someone who agrees to repay the Direct PLUS Loan if the borrower fails to repay the loan.
  • PLUS loan Interest is fixed at 7.08% for loans disbursed on or after July 1, 2019 and before July 1, 2020. Note: The interest rates for federal student loans are determined by federal law.
  • There is no federal interest subsidy on PLUS Loans.
  • A loan origination fee is charged which changes annually on October 1. The Loan Fee for a Direct Plus loan disbursed on or after October 1, 2019 and before October 1, 2020 is 4.236%
  • There is no grace period for PLUS Loans.  The repayment period begins 60 days after the school makes the last disbursement of the loan.  Special circumstances apply when the parent is also a student.
Eldon Schafer Student Loan Fund
  • Provides loans to students with short-term needs.
  • Students may borrow up to $200 beginning the first day of each term through the fifth (5) week of the term.
  • Students are granted one loan per term.
  • A $5 loan fee is charged. Financial Aid students who have been awarded may request an Eldon Schafer Exception loan during the first week of each term.  In conjunction with the $5.00 loan fee, there will be a $10.00 processing fee.
  • Loans must be repaid by the end of the sixth (6) week of the term.
  • Applications are available at the Business Office.
SCHOLARSHIPS/OTHER
Scholarships
  • Determined by donor

Warning! If you receive federal and/or state aid based on false information, you will be required to repay all of the aid you received.  If you purposely give false or misleading information on any documents used to determine your financial aid eligibility, you may be fined $20,000, sent to prison, or both.