Financial Aid Programs and Sources

• 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.

• 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 are transferrable 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.

• 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).

• 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.

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.

• 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 from October 1, 2014 is 1.073%. The rate beginning October 1, 2015 and before October 1, 2016 is 1.068%.
• The interest rate on a Federal Direct Loan is fixed at 4.29 percent 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.

• 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 6.84% and changes annually on July 1. 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 October 1, 2014 fee is 4.292%. The rate beginning October 1, 2015 and before October 1, 2016 is 4.272%. 
• 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.

• Applications for the Direct PLUS loan are available at: linnbenton.edu/go/financial-aid/financial-aid-forms

• 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.

• Determined by donor

• Students are strongly encouraged to apply for scholarships.  The link is: linnbenton.edu/scholarships