Award Information · The Standard Expense Budget · Types of Aid Available · Federal Work Study · Additional Sources of Assistance · The Award Letter · Satisfactory Academic Progress · Withdrawal Information · Transfer Student Information · Disbursement Information · Revision Procedures · Summer Term Students · Sponsored Accounts · Rights and Responsibilities

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 Oregon Student Assistance Commission (OSAC). It is a need-based program and is available to eligible Oregon residents who are enrolled at least half time during fall, winter, and spring terms. For the 2011-2012 year, the award per term varies. 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. New for 2011-2012: The Pell Grant is available for the equivalent of 3 full time terms. This grant is offered to students that do not have a Bachelor's degree and have an Expected Family Contribution (EFC) between 0 and 5273. It is prorated for less than full time enrollment levels. See the following examples for clarification of the equivalent of three full time terms:

Example 1
Student enrolls full time summer, fall, and winter terms and receives a full time Pell Grant during each of these terms. Spring is not Pell Grant funded, regardless of enrollment, because the student has already received the equivalent of three full time terms of Pell Grant.

Summer 2011	Fall 2011	Winter 2012	Spring 2012
Enrolls full time	Enrolls full time	Enrolls full time	Enrolls any # credits
Receives full time Pell Grant	Receives full time Pell Grant	Receives full time Pell Grant	Does not receive Pell Grant

Example 2
Student enrolls 1/2 time summer term and receives a 1/2 time Pell Grant. The student enrolls full time fall and winter terms and receives the full time Pell Grant for those terms. The student enrolls full time spring term, but only receives a half time Pell Grant. The student has received the equivalent of three full time terms of Pell Grant.

Summer 2011	Fall 2011	Winter 2012	Spring 2012
Enrolls 1/2 time	Enrolls full time	Enrolls full time	Enrolls full time
Receives 1/2 time Pell Grant	Receives full time Pell Grant	Receives full time Pell Grant	Receives 1/2 time Pell Grant

Federal Supplemental Educational Opportunity Grant (SEOG): This is a need-based program and is available fall, winter, spring terms to students enrolled at least half time. Students must apply for financial aid by February 15th each year and demonstrate exceptional financial need to be considered for SEOG. The 2011-2012 maximum award per year is $240, if eligible.
  

• 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 February 15th each year and demonstrate exceptional financial need to be considered for work study. The 2011-2012 award per term maximum is $1,200 (with a maximum of $3,600 per award year), depending on eligibility. Additional steps are required to accept the FWS offer. See lanecc.edu/finaid/fws.htm for more information.
   
• Federal Work Study Student Employee Evaluation Report (.pdf)*

*Requires Adobe Reader

LOANS:

• Federal Perkins Loan: This is a need-based program and has a FIXED interest rate of 5%. Repayment on the Perkins loan begins 9 months after a student either graduates, stops attending or drops below half time enrollment. If a student is offered a Perkins loan, supplemental forms are required to be completed. The student must be enrolled at least half time and in the 2nd year of their program in order to qualify. Students must apply for financial aid by February 15th each year and demonstrate exceptional financial need to be considered for a Perkins loan. The 2011-2012 award per term ranges from $100 - $600 (a maximum of $2,400 per award year), if eligible.
   
• Federal Direct Stafford Loan (subsidized):  This is a need-based program and has a variable interest rate with a cap of 8.25%. Repayment on this loan begins 6 months after a student either graduates, stops attending or drops below half time enrollment. The interest is subsidized by the federal government while a student is enrolled at least half time and until repayment begins. If a student is offered a subsidized loan, additional steps are required before it is disbursed. The student must be enrolled at least half time in order to qualify. The award amount varies - it depends on a student's eligibility.
   
• Federal Direct Stafford Loan (unsubsidized): This is NOT a need-based program. The interest rate is variable, with a cap of 8.25%. The interest on an unsubsidized loan is NOT subsidized by the federal government. Interest accrues on this loan and a student is billed for the accruing interest.  If a student is offered an unsubsidized loan, additional steps are required before it is disbursed. The student must be enrolled at least half time in order to qualify. The award amount varies - it depends on a student's eligibility.
   
• Federal Parent Loan, Undergraduate Students (PLUS): This program is available to parents of dependent students. The interest rate is variable, with a cap of 9%, and begins to accrue at the time the first disbursement is made. Repayment on this loan begins 60 days after disbursement. If a student or parent is offered a PLUS Loan, additional steps are required before it is disbursed.  The parent is the borrower of the loan. The student must be enrolled at least half time in order to qualify.  The award amount varies - it depends on a student's eligibility.

SCHOLARSHIPS:

• 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.

Institutional:

ASLCC Scholarship
Athletic Scholarship
Forensics Scholarship
Forest Endowed Scholarship
Foundation Scholarship
Gilma Greenhoot Scholarship
International Scholarship
Juan Young Scholarship
Performing Arts Scholarship
Peter DeFazio Scholarship
Stanton Scholarship
Wayne Shields Diversity Scholarship
Wayne Shields High School Scholarship
Wayne Shields Vocational Scholarship

Other Scholarships:

Native American Scholarship
Private Scholarships
Ford Family Scholarship

Please note:

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.