Financial Aid and Scholarships

Changes to Financial Aid for 2012-2013

What is the Cost of Attendance for 2012-2013?

What if I am not sure I am coming to OSU?

Why didn’t receive any scholarships?

How do I get Financial Aid for Summer Term?

When should I apply for the Parent PLUS loan?

Where can I find Financial Aid Forms for 2012-2013?

How can I get an IRS tax transcript to submit?

Changes to Financial Aid for 2012-2013

Retaking Course Work

New federal regulations limit students’ eligibility of federal aid with regards to repeated courses.

Students may not receive federal financial aid for courses that were previously taken and passed beyond the first retake.  You may only repeat a class once, if you received a passing grade.  In addition, that course will not count towards your actual enrollment for the term.

Note: Repeat courses still count toward your attempted hours for financial aid purposes.

Undergraduate

Pell Grant

Maximum award remains at $5550 for full time enrollment for an academic year, however the duration of eligibility is reduced to the equivalent of 12 full time semesters instead of 18 full time semesters. The reduction affects all students beginning with 2012‐13 award year, no exceptions.

*A recent change in the law affects students Federal Pell Grant eligibility beginning with the 2012-2013 school year and beyond. This change limits the total number of years a student may receive a Pell Grant to the equivalent of six years. You may receive an email from the Department of Education alerting you that you have reached or are approaching the PELL limit.

Oregon State University will be evaluating your eligibility and revising your financial aid accordingly. If it is determined that you are not eligible for additional Pell Grant funds, your 2012-2013 award will be revised to reflect this information. You still may be eligible for other federal, state, and school financial aid. The loss of Pell Grant funds does not mean they can be replaced due to other aid program limits. Those students who have reached the limit for Pell Grant funds will be notified when their financial aid package has been updated.

For information on how the Department of Education calculates the "equivalent of six years" please visit studentaid.ed.gov/pell-limit. If you are a new student or have not attended the equivalent of six years, this information is meant to serve as a notification of the changes but will not affect your current financial aid package

In mid-July 2012, you will be able to log on to the National Student Loan Data System (NSLDS) Student Access Web site using your Federal Student Aid PIN and view your Lifetime Eligibility Used percentage. The LEU will be found on the Financial Aid Review page.

Direct Subsidized Loans

Effective July, 1 2012 Direct Subsidized Loan interest rates will be going up to 6.8%. Interest will still not accrue while you are attending at least part-time. In addition, Interest subsidies during the six month grace period are eliminated for new Stafford Loans made on or after July 1, 2012. The repayment period still begins six months after the student is no longer enrolled at least half‐time, but interest accrues during those six months will be payable by the student rather than subsidized by the federal government.

Graduate

Effective July, 1 2012 Direct Subsidized Loans will no longer be available for Graduate Students. The yearly limit for Unsubsidized Loans will be $20,500.

top

What is the Cost of Attendance for 2012-2013?

Undergraduate

The cost of attendance reflects average costs for educational expenses for a student in your category. The cost of attendance helps us to determine your financial aid award, but does not reflect the amount you owe the University. You will receive a bill that shows your actual University charges. The standard cost of attendance may be adjusted for differential tuition for specific programs, and for students participating in approved study abroad programs.  

The budget below is a standard, full-time, full-year (three term) budget. 

2012-13 Undergraduate Tuition and Fees (Estimates Only)*

Resident                                  $8,091

Non-Resident                           $22,212

2012-2013 Additional Expenses (Estimates Only)

Books and Supplies $1,908

This is an average amount you might spend on books and supplies. This amount does not appear on your billing.

Room and Board $10,074

This amount is an average figure based on double occupancy for campus and off-campus living arrangements. Students living in university housing will be billed for their actual room and meal rates. 

Miscellaneous and Personal $2,616

This is an estimate of what you might spend during the school year on personal items, clothing, recreation and travel.

*Loan Fee Allowance $57 

An average amount is built in for loan recipients to cover the Federal Ford Direct Loan fees.

Estimated Undergraduate Totals (*does not include Loan Fee Allowance):

Resident: $22,689           Non-resident: $36,810 

Graduate

The cost of attendance reflects average costs and educational expenses for a student in your category. The cost of attendance helps us to determine your financial aid award, but does not reflect the amount you owe the University. You will receive a bill that shows your actual University charges. The standard budget may be adjusted for differential tuition for specific programs, and for students participating in approved study abroad programs.

The budget below is a standard, full-time, full-year (three term) budget.

2012-13 Graduate Tuition and Fees (Estimates Only)

Resident                                  $12,741

Non-Resident                          $19,653 

2012-2013 Additional Expenses (Estimates Only)

Books and Supplies $1,908

This is an average amount you might spend on books and supplies. This amount does not appear on your billing.

Room and Board $10,074

This amount is an average figure based on double occupancy for campus and off-campus living arrangements. Students living in university housing will be billed for their actual room and meal rates.

Miscellaneous and Personal $2,616

This is an estimate of what you might spend during the school year on personal items, clothing, recreation and travel.

*Loan Fee Allowance $57 

An average amount is built in for loan recipients to cover the Federal Ford Direct Loan fees.

Estimated Graduate Totals (*does not include Loan Fee Allowance):

Resident: $27,339           Non-resident: $34,251

top

What if I am not sure I am coming to OSU?

If you have received an award letter or scholarship offer from OSU and have not made your final decision yet, you should accept your financial aid award or scholarship offer! This will hold your offer until you finalize your decision to attend OSU. Accepting your financial aid or scholarship offer is not a binding commitment to attend OSU.  You can update the financial aid office to cancel your offer should you decide not to attend.

top

Why didn’t I receive any scholarships?

Scholarships that are awarded during the Admission process are selected on a competitive basis with limited awards.  It is not your only scholarship option while attending OSU. If you were not selected, do not lose hope! Many opportunities exist for students to apply for OSU scholarships based on their College or Major.  Each department administers their own scholarships, sets deadlines, posts and reviews applications, and awards based on their established criteria.

In an effort to maximize student access to OSU scholarship opportunities we have a searchable database that consolidates all available departmental scholarships into a centralized location! You select the criteria that fit you and the search will return any scholarships you might be eligible for. Click on the name of the scholarship for specific criteria, hover over additional notes for further application details, and when they are available for submission, click on the link to go to that scholarship's application page! Exploring your options couldn't be easier! Visit our Scholarship Database and get started today!

top

How do I get Financial Aid for Summer Term?

Here are a few things to keep in mind regarding summer term financial aid:

1. Summer term aid requires a 2012-2013 FAFSA application. Summer is the start of the academic year for financial aid purposes.

2. Once you have been awarded Financial Aid for 2012-2013, you can complete the Summer Aid Request under the Resources/Additional Information tab in the Financial Aid section of Student Online Services where you view your financial aid award package. You can only complete the questions once. If you need to make changes to your request after submission, please submit an Enrollment Revision Request for processing.

3. Processing of Summer Aid Requests will begin May 1, 2012.

4. Summer financial aid is limited due to funding constraints and loan program limits. Students expecting to attend for 4 terms can anticipate their Direct Student Loan funds to be re-distributed over the 4 terms of enrollment. Yearly loan limits remain the same regardless of the number of terms you attend.

5. Students who have been awarded work study for the academic year may begin working July 1, 2012 if enrolled half-time or more for summer term.

6. Enrollment levels are the same for summer as the academic year. Fulltime is 12 credits, 3/4 time is 9-11 credits, and half-time is 6-8 credits for Undergraduates. Half-time for Graduate students is 5-8 credits, full-time is 9 credits.

7. You must notify Financial Aid if you will be enrolled less than full-time.

8. If your actual enrollment does not match your financial aid enrollment, your aid funds will not disburse. Please complete an Enrollment Revision Request to have your aid adjusted to your new enrollment level.

9. You must be enrolled at least part-time to be eligible for Financial Aid.

Do be aware! Textbooks cannot be charged to your student account, therefore proper planning for textbook purchases prior to the disbursement of financial aid is strongly encouraged.

top

When should I apply for the Parent PLUS loan?

Applications for parent PLUS loan requires a credit check each time the parent applies for the loan and is only valid for 90 days.  Applying too early may cause delays with processing and disbursements.  Application can be submitted beginning July 1, 2012. Students can review their file status through student online services.

top

Where can I find Financial Aid Forms for 2012-2013?

As they become available the forms will be updated on our website under Forms and Publications. Access to some forms that are part of outstanding requirements are also available through Student Online Services. The instructions for your outstanding requirements will often contain a link that will take you to a PDF version of the required form.

top

How can I get an IRS tax transcript to submit?

If you are required to provide tax information as part of the verification process and are unable to download the information through the FAFSA/IRS linking system, you may submit an IRS Tax Transcript instead. If you need a copy of your IRS tax return transcript, visit the IRS website and click on the "Order a Return or Account Transcript" link or you may call the IRS directly to order a copy at 1-800-908-9946. Be sure to request the "IRS Tax Return Transcript" and NOT the "IRS Tax Account Transcript".

top