Award Information - Types of Aid Available
There are three basic types of financial aid: grants, work study, and loans. Typically, students are offered a combination of these financial aid awards. Students must apply for financial aid each academic year to be considered for the types of aid listed below. Some program funding is limited, therefore, students should apply as soon as possible after January 1st each year.
- Oregon Opportunity Grant: This program is administered by the Office of Student Access and Completion (OSAC). It is a need-based program and is available to eligible Oregon residents who are enrolled at least half time. The award is reduced by half for students enrolled in 6-11 credits. This grant has a lifetime limit of four full time years. Students should apply early for consideration of this grant.
- Federal Pell Grant: This need-based program is available during summer, fall, winter and spring to eligible students. The Pell Grant is available for the equivalent of 3 full time terms and is limited to a lifetime limit of six full time years (600%). This grant is offered to students that do not have a Bachelor's degree and have an Expected Family Contribution (EFC) between 0 and 5157. It is prorated for less than full time enrollment levels. See the Financial Aid Award Handbook for clarification regarding the equivalent of 3 full time terms.
- Federal Supplemental Educational Opportunity Grant (SEOG): This is a need-based program and is available fall, winter and spring term to students enrolled and attending at least 1/2 time. Students must apply for financial aid by January 31st each year and demonstrate exceptional financial need to be considered for SEOG.
- Federal Work Study (FWS): This is a need-based program and is available summer, fall, winter and spring terms. Employment opportunities are available on and off campus. The student must be enrolled at least half time and may begin working only after FWS has been offered and accepted. Students must apply for financial aid by January 31st each year and demonstrate exceptional financial need to be considered for work study. Additional steps are required to accept the FWS offer. See Federal Work Study for more information.
- Federal Perkins Loan: This is a need-based loan offered to early applicants enrolled at least half time. Additonal steps are required to receive the loan.
- Federal Direct Stafford Loan (subsidized): This is a need-based program available to students enrolled at least half-time, The interest is subsidized by the federal government while a student is enrolled at least half time and until repayment begins. Annual limits and lifetime aggregate limits apply. Beginning with the 2013-2014 academic year, timeframe limitations will also apply. See this Dept. of Education document for more information. If a student is offered a subsidized loan, additional steps are required before it is disbursed.
- Federal Direct Stafford Loan (unsubsidized): This is NOT a need-based program and is NOT offered automatically. Additional steps are required to request the loan. The interest is NOT subsidized by the federal government and the student is responsible for the interest that accrues on the loan from the time it is disbursed until it is paid in full. The student must be enrolled at least half time in order to qualify. Annual limits and lifetime aggregate limits apply.
- Federal Parent Loan, Undergraduate Students (PLUS): This program is available to parents of dependent students. Repayment on this loan begins 60 days after disbursement. The loan is not offered automatically and a parent must complete additional steps to be considered for this loan. The parent is the borrower of the loan. The student must be enrolled at least half time in order to qualify.
- If you are the recipient of a private or institutional scholarship and are enrolled at Lane, funds will be applied to your account during our disbursement process in accordance with the donor's letter of instruction. Thanks to many generous donors, Lane students are awarded various private and institutional scholarships each year.
Forest Endowed Scholarship
Gilma Greenhoot Scholarship
Juan Young Scholarship
Performing Arts Scholarship
Peter DeFazio Scholarship
Wayne Shields Diversity Scholarship
Wayne Shields High School Scholarship
Wayne Shields Vocational Scholarship
Native American Scholarship
Ford Family Scholarship
Financial Aid does not make any offer of assistance until all required documents have been received and processed. Delays in responding can affect the amount of aid a student receives, regardless of the date the student applies for financial aid.
Grants do not require repayment. Loans must be repaid.