Financial Support
Subject to available grant funds: disclosure that though we plan to fulfill planned funding, circumstances may arise (out of our control or within our control) that could limit, reduce, or cancel available funds.
Everyone's’ financial circumstances are different. Please come to DREAM Staff with questions (not fellow Trainees)
See the Induction Financial Support Page for information on your first payment
Trainees' Decision on Financial Support
Academic year financial support. Due 7/25/23
DREAM Trainees receive up to $11,000 for Immersion and Academic Year Financial Support
There are two ways to receive this financial support. Your decision may be based on your current PSU financial page package or other factors
Trainees must decide by 7/25
Below are the main differences. However, there any other differences will be listed elsewhere on this page with more detail.
Stipends
May be good for Trainees who have room in the F/A. Since they would have stable monthly payment amounts & the program would have more flexibility
Up to $11,000 in stipends - $1,000 per month (August-May)
The stipends will count as financial aid (see more information below.
If you have room in your F/A Package, it will supplement your F/A package
If you don’t have room to add it to your F/A package, it will substitute some/all of your F/A (loans first)
Receive the same Amount Every Month
Taxes not taken out prior to disbursement. Stipends may be subject to federal income tax (more information below)
Hourly Wages
May be good for Trainees who don’t have room in the F/A since they could supplement rather than substitute F/A
Up to $11,000 in hourly wages ($20/hr) - before taxes.
Hourly wages do not count for financial aid (F/A)
May be a good option if you don’t have room in your F/A package for stipends
Amount received is based on hours worked, as such it will fluctuate
Taxes are taken out of the paycheck prior to disbursement
You are limited to 20 hours a week across all PSU Jobs (Usually only in the academic year)
If you would like assistance making a decision you can:
Schedule a meeting with our Financial Counselor, Nila Markheim markheim@pdx.edu, to see what your F/A Package will be if you go with stipends
Meeting with me on Monday or Tuesday to discuss hourly wages and stipends
Meet with PSU’s Financial Wellness center to get help with budgeting https://www.pdx.edu/student-finance/financial-wellness-center
Logging Hours & Disbursement
Logging Hours
Stipends = Monthly Reporting Forms
Trainees with stipends will submit Monthly Reporting Forms (MRFs) on the 15th of each month (August-June)
Hourly Wages = BanWeb Timesheets
Trainees with hourly wages will submit BanWeb timesheets from September 2023 - July 2024
*At times you may receive emails asking you to submit a Monthly Reporting form, however, you will continue to submit BanWeb timesheets. The only MRF you will be the August MRF (due 8/15; logs RLC hours from 7/11-815)
Disbursement
Payments will be processed on the last day of the month. Disbursement and timekeeping deadlines are the same for both options but the details will be a little different
Method: You can choose a direct deposit or mailed check - change your settings in BanWeb (Stipend Instructions - Hourly Wages Instructions)
Timely disbursements require timely submission of timekeeping documents. See differences between stipends/hourly wages are outlined below.
Additional Information
You must be registered at PSU for each term in order to be eligible for financial support disbursement related to that term.
Trainees should have the intention to be dull time Fall, Winter, and Spring terms
Requests for less than full-time will be considered on a case-by-case basis. Please let us know ASAP if you are considering dropping or registering for less than full time
If policies and procedures for the Summer 23-24 AY are not followed or program requirements are not met, financial support may be delayed or suspended
Stipends
Stipends are paid proactively, meaning that the stipend you receive at the end of the month is for your traineeship next month.
Example: The stipend at the end of November if tied to your December Traineeship
What happens if an MRF is late?
If your MRF is not received by the 2nd to last Monday of the month, your stipend will be delayed until it is submitted
Excessively late MRFs and/or a pattern of late MRFs may result in changes to Scholar standing/status
A once-a-term exception can be made! Please see the Monthly Reporting Form sub-page for more information.
Hourly Wages
Paychecks pay retroactively, meaning that the paycheck you receive at the end of the month is for your traineeship last month.
Example: The paycheck you receive at the end of November is tied to your traineeship for 10/16-11/15
Exceptions for late BanWeb Timesheets can’t be made due to HR policy
What happens if a BanWeb timesheet is late?
PSU paychecks can't be processed without a timesheet
If your BanWeb timesheet is a month late, you will not longer be able to submit a BanWeb timesheet. Instead, you will submit a paper timesheet, which takes longer to process.
Due to HR policy we are unable to make an exception and process a paycheck without a timesheet.
Onboarding Paperwork for Financial Support
Cassandra will provide more detailed information and instructions once you decision on which financial support you'll go with
Stipends
You will need to sign a stipend form. Cassandra will send it via Adobe Sign once you make your decision
Please don’t sign if corrections are needed - let Cassandra know and she can make corrections
Make sure you put the address where you want to receive checks
Hourly Wages
Have you been a student employee with PSU?
If yes, no paperwork is needed
If no, you must go to HR & bring identification. Cassandra will send you deadlines and instructions once you make your decision