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How much money you or your family has, does not have to deteminer whether or not you go to college. The choices you make, the work you put in to searching for money, and the ability to strictly follow application deadlines will contribute to the assistance you can find.
Throughout the school year, counselors and our college and career coordinators will host a variety of workshops and events geared towards helping students with their financial aid applications and scholarship searches. We also share a variety of resources and materials that students and families are encouraged to use to help them navigate the process. Many events are geared towards seniors, as much of the financial aid process takes place during 12th grade, but announcements and notifications will be shared with other grades accordingly. Students are highly encouraged to check their PPS email regularly for resources, opportunities, and events related to financial aid and scholarships.
Types of Financial Aid
There are four main types of financial aid for college (three of which are federal aid):
1. Grants: Grants are given to you by the government (federal or state) or your college and do not have to be paid back. Grants are usually based on the financial need of your family. After you complete the FAFSA, it will be decided if you qualify for federal and state grants. Grants may be offered to students with their financial aid packages (i.e. Pell Grant), or may require a specific application.
The Oregon Promise is a state grant that helps to cover tuition costs at an Oregon community college. Students must file FAFSA/ORSAA, have a cumulative high school GPA of 2.5 or higher, attend an Oregon community college within 6 months of high school graduation, and complete an application. Students can apply for Oregon Promise here.
2. Loans: Loans are money borrowed that you must payback. Loans can be from the government or from your bank. The type of loan that you take will determine when you have to pay it back and the interest that you will be charged.
Federal loans: The government also gives loans as financial aid. Federal loans will be offered to students with their financial aid packages.
Subsidized loans are based on FAFSA results and are the loans that are the most cost-effective. They need to be paid back, but interest does not begin until after you have left college.
Unsubsidized loans are also available and are not based on financial need. Unsubsidized loans begin to collect interest right away, so you can choose to begin to pay interest or delay payments until you graduate.
3. Work-study: Work-study is another option to pay for college. In a work-study program, students work at their college on a part-time basis and the money earned helps pay for their tuition.
4. Scholarships: Scholarships are awards given to you by your college or other organizations and providers. Scholarships can be based on academic performance, extracurricular performance, participation in organizations, or community involvement. They may be offered one-time, or on a renewable basis.
Merit scholarships: awarded to students with a qualifying GPA (often 3.0+), athletic ability, and/or for an accomplishment in something. Merit scholarships may require an application, or can be automatically awarded by a college/university with a student’s acceptance.
Need-based scholarships: awarded according to a student’s financial need, and many require completion of the FAFSA before applying. Many need-based scholarships require an application.
Other scholarships: awarded for specific achievements (athletic ability, community service, leadership), to specific populations (gender, religious affiliation, ethnicity, etc.) or for specialized skills (art). Most of these scholarships require an application. Athletic scholarships typically require that students connect with coaches and/or register with the NCAA.
Application Process
The Free Application for Federal Student Aid (FAFSA) is available beginning October 1st, and seniors are encouraged to fill it out as soon as possible after it opens. This form will require students to enter income for themselves and their family for the prior calendar year. It helps determine if students are eligible for money for college (financial aid). If students are applying to some private colleges, they may need to file a CSS profile as well, which is a second financial aid application required by some colleges. These colleges generally have more financial aid to offer to low- and middle-income students. Students should check directly with the colleges of which they are applying to see if the CSS profile will be required.
Resources:
FAFSA & ORSAA Frequently Asked Questions
Oregon Student Aid website: ORSAA application, Oregon Promise application, OSAC application, & some FAFSA info.
FAFSA website (submit FAFSA)
FAFSA/ORSAA
The Free Application for Federal Student Aid (FAFSA) is available beginning October 1st, and seniors are encouraged to fill it out as soon as possible after it opens. This form will require students to enter income for themselves and their family for the prior calendar year. It helps determine if students are eligible for money for college (financial aid). If students are applying to some private colleges, they may need to file a CSS profile as well, which is a second financial aid application required by some colleges. These colleges generally have more financial aid to offer to low- and middle-income students. Students should check directly with the colleges of which they are applying to see if the CSS profile will be required.
Resources:
FAFSA & ORSAA Frequently Asked Questions
Oregon Student Aid website: ORSAA application, Oregon Promise application, OSAC application, & some FAFSA info.
FAFSA website (submit FAFSA)
Financial Aid Tool
Net Price Calculator: Net Price is the amount that a student pays to attend an institution in a single academic year after subtracting scholarships and grants. The CollegeBoard’s Net Price Calculator can help students assess the costs of college. Watch this video for more details and instructions on using this tool
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