Types of Financial Aid

Grants

Federal Pell Grant—Federal Pell Grants provide funding to students who meet certain eligibility criteria, according to federal guidelines.  The amount awarded to students is determined by their Expected Family Contribution (EFC) and enrollment.  Pell Grants are prorated based on a student’s enrollment level status.

 

Oregon Opportunity Grant—The Oregon Opportunity Grant is awarded to eligible Oregon residents enrolled at least half-time (6 credits or more).  Awards are adjusted based on a student’s enrollment level status.

 

Oregon Promise Grant—Oregon Promise Grants are available to recent high school graduates.  For more information about eligibility and application requirements, visit the Office of Student Access and Completion website at oregonstudentaid.gov.

 

Students not eligible for grants or scholarships or requiring additional funds to meet educational expenses, may be eligible for student loans.  Student loans are available to students and families to borrow money for assistance with funding educational needs.

 

Loans

Federal Direct Loan Program—The Federal Direct Loan is a funding source for students enrolled at least half time (6 credits or more) and is made available to students through the U.S. Department of Education.  Direct Loans are either subsidized or unsubsidized.  A subsidized loan is awarded on the basis of financial need.  If a student qualifies for a subsidized loan the Federal government pays interest on the loan while the student continues to be enrolled at least half-time up to Federal Subsidized Usage Limit Amount.  An unsubsidized loan is an additional resource, not awarded on the basis of need.  Once disbursed, students receiving an unsubsidized loan are responsible for the accruing interest from the time the loan is disbursed until it is paid in full.  Borrowers may choose to pay the interest or allow it to accumulate.  If allowed to accrue, the interest will be capitalized—added to the principal amount—and will increase the amount to be repaid.

 

Nursing Loan—The Nursing loan is funded through the Department of Health and Human Services.  It is available on a funds available basis through PCC.  If you have questions about the Nursing Loan, contact OCCC’s Financial Aid Specialist.

 

Students loan amounts are limited annually and cumulatively by Federal regulations.  Students are prohibited from borrowing more than their cost of attendance minus any other financial aid and scholarships received.