4. HOW DO I RECEIVE SUMMER FINANCIAL AID?
5. WHY DO I HAVE TO PROVIDE PARENT INFORMATION?
7. WHAT IF MY OR MY PARENTS' CIRCUMSTANCES HAVE CHANGED FINANCIALLY?
8. WHAT FINANCIAL AID PROGRAMS ARE AVAILABLE FOR GRADUATE STUDENTS?
9. HOW WILL THE RECEIPT OF AN OUTSIDE SCHOLARSHIP AFFECT MY FINANCIAL AID PACKAGE?
10. AM I ALLOWED TO RECEIVE FINANCIAL AID FUNDS FROM MORE THAN ONE INSTITUTION AT THE SAME TIME?
Any student who may have a financial need for educational expenses should apply for financial aid. Most students are eligible for some sort of financial assistance whether it is gift aid such as grants or self-help aid in the form of student loans and/or college work-study.
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Financial aid is money provided to help bridge the gap between your own resources and the amount needed to pay the cost of attending college. The primary responsibility for meeting the cost of a college education rests with the student and family to the extent they are able to pay. A formula established by Congress and written in law, takes into account your family income and assets.
When you apply for financial aid at Oregon State University, you are applying for gift aid and self-help programs.
Grants do not have to be repaid and are based on financial need.
Loans are borrowed money that you repay with interest to the lender. Educational loans usually carry a low interest rate and offer a grace period with repayment generally beginning within six months after graduation or when you stop attending school at least half time. Student loans are considered financial aid because of the special interest rates. Most student loans are subsidized by the federal government' and repayment does not begin until after graduation.
Scholarships are awards based on many factors such as academic merit or academic merit and financial need. They do not have to be repaid.
Student Employment enables students to earn money toward their educational expenses while in school by working part time. This can either be a regular employment position or a federally subsidized work-study one.
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When you apply for financial assistance from Oregon State University, you do not apply for a particular type or amount of aid. Aid applicants are automatically considered for all available programs. One or more types of aid are usually awarded in combination to make up a student's financial aid package. Students who receive scholarships from outside agencies or through their departments will have these scholarships included as a part of their total student aid package.
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HOW DO I RECEIVE SUMMER FINANCIAL AID?
Summer aid is processed for students based on their summer registration record. Students wanting summer financial aid should register for all their classes at once. Summer federal financial aid awards are available the first week after classes begin. Not all aid programs are available during summer term. Federal Pell Grants, and Federal Direct Student Loans will be awarded based on four terms, summer, fall, winter and spring, based on enrollment. All other programs are split on a three term basis.
Aid is available if:
WHY DO I HAVE TO PROVIDE PARENT INFORMATION?
Parent information is used because the Congress has said that families have primary responsibility for funding a college education. Parent information is not necessary if you are independent. Please review the independent criteria as set by Congress at www.fafsa.ed.gov
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The Oregon State University Office of Financial Aid and Scholarships may be able to use professional judgment in deciding to override the dependency status on your FAFSA. You will be required to document your specific extenuating circumstances.
Examples of extenuating circumstance include but are not limited to:
Any of these circumstances can be considered, but do not automatically allow you to be independent. All circumstances must be documented.
In cases where you do not qualify as an independent student, but you do not receive parental support, you should contact an advisor in the OSU Office of Financial Aid and Scholarships to discuss your alternatives.
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WHAT IF MY OR MY PARENTS' CIRCUMSTANCES HAVE CHANGED FINANCIALLY?
If you or your family has experienced a loss of employment, change in marital status, or other extraordinary circumstance since you completed the FAFSA, you may appeal to have your situation reviewed by our office. If approved, your aid eligibility and financial need may be recalculated, based on the new information.
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WHAT FINANCIAL AID PROGRAMS ARE AVAILABLE FOR GRADUATE STUDENTS?
Oregon State University administers the aid programs provided by the federal government to assist with a graduate education. Graduate students are eligible for loans and work-study.
o Federal Work-Study Program
o Federal Perkins Loan
o William D. Ford Federal Direct Student Loan Program
Graduate students are also encouraged to contact the Graduate School or their major departments for information on additional funding sources such as scholarships, fellowships, or assistantships.
HOW WILL THE RECEIPT OF AN OUTSIDE SCHOLARSHIP AFFECT MY
FINANCIAL AID PACKAGE?
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Many students from Oregon State receive scholarships and grants from outside organizations. The receipt of any scholarship or grant not listed on the award notification must be reported to the Office of Financial Aid and Scholarships in writing as soon as the student is notified of the award. Please indicate the name of the award and the amount of the award. Additional resources may reduce your overall financial aid package.
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AM I ALLOWED TO RECEIVE FINANCIAL AID FUNDS FROM MORE THAN ONE INSTITUTION AT THE SAME TIME?
No. If you are enrolled at more than one college or university at the same time, you may receive financial aid from one of the institutions, not both. Contact our office for more information.
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