How do scholarships affect Financial Aid

How do scholarships affect Financial Aid?

Your level of Financial Need at Lane Community College is based on your Standard Expense Budget minus your Expected Family Contribution (based on FAFSA results). The Financial Aid you are awarded may not meet 100% of your calculated need.

How do scholarships affect loans?
Scholarships can reduce the amount of loans you need to meet your expenses. Since loans need to be repaid and scholarships do not – scholarships are definitely worth applying for!

How do scholarships affect grants?
If you are awarded a Scholarship, it will not decrease the amount of any Pell or Oregon Opportunity grants you receive.

How do scholarships affect workstudy?
Scholarships might reduce the maximum number of workstudy hours available for some students. Each student who has workstudy eligibility has a limited number of hours they are eligible for. Scholarship dollars will give you more time to devote to your studies without losing income because of decreased workstudy hours.

What do all these terms mean?
You should contact Enrollment Services at Lane for assistance with your financial aid questions. These brief descriptions are provided to give you a very basic overview only.

Scholarships
The Lane Community College Foundation offers many scholarships to students attending Lane. Contact Career and Employment Services area for identifying additional scholarships. Refer to the web site for the Oregon Student Assistance Commission (OSAC) for other resources.

Financial Aid
Financial Aid includes workstudy, loans and grants. Grants are dollars that do not require repayment. Grants and workstudy, and some Federal Loans, are only available to students who are approved for this assistance by the Financial Aid Office based on the results of their FAFSA application. Loans must always be repaid.

Standard Expense Budget
An estimate of the costs you may incur during the academic year at Lane based on information given to financial aid regarding your living situation.

Free Application for Federal Student Aid (FAFSA)
Expected Family Contribution (EFC). Expected family contribution is based on your FAFSA score. This is the amount you and/or your family are expected to contribute to the cost of your education.

Contact Enrollment Services at Lane for assistance with financial aid questions. These brief descriptions are provided to give a very basic overview.