Financial Aid Programs and Sources

Eligibility Requirements

Amounts Available

Special Information

• Be an undergraduate student at a 2- or 4-year public or private college that participates in the federal Title IV 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/ORSAA.
• Be an Oregon resident.
• Be an undergraduate student at a 2- or 4-year public or private college.
• 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.

• 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/ORSAA 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 2021-2022 Academic Year are subject to Legislative Funding.
• Oregon Promise Grants are not offered in summer term.

• Be an undergraduate student at a 2- or 4-year public or private college that participates in the federal Title IV 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. All Federal Direct Loans require a minimum enrollment of six (6) credits or more.

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. Students borrowing the Federal Direct Subsidized Loan must complete their program of study within 150% of the normal timeframe for completion measured in months and years. For example, a student working towards an Associate of Arts Oregon Transfer Degree (two-year degree) must finish the program before completing three years of enrollment to continue eligibility for subsidized Stafford loans. Students who do not complete their program of study within 150% of the normal timeframe will be ineligible for additional Federal Direct Subsidized Loans and will lose the subsidy on their existing loans.

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.

• See table above.

• 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, 2020 and before October 1, 2021 is 1.057%.
• The interest rate on a Federal Direct Loan disbursed on or after July 1, 2020 and before July 1, 2021 is 2.75% 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 5.30% for loans disbursed on or after July 1, 2020 and before July 1, 2021. 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, 2020 and before October 1, 2021 is 4.228%
• 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