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Conditions of Financial Aid Awards

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  1. The award offered is contingent upon the availability of funds and your compliance with the Conditions of Award, Standards of Satisfactory Progress, and Repayment Provisions as listed below.
  2. Financial aid will be applied to all tuition, fees, and room and board charges incurred at Oregon Institute of Technology.
  3. Financial aid will also be used to pay student account interest, late fees, parking permits, parking fines, library fines, bookstore charges, student health insurance, additional food points, and copier fees. As a student, you have the right to cancel or modify the automatic process of crediting your student account
    with financial aid to cover the previously listed charges. If you choose to cancel or modify the authorization, you must submit written notification of your changes to the business office at Oregon Institute of Technology. Changes to authorization are not retroactive.

Award

The aid indicated on the next screen is to supplement your own resources for the payment of your educational costs. The amount of aid was determined by using the information you provided on your FAFSA. A complete description of all federal and state financial aid programs can be found in the Financial Aid Award Guide posted at www.oit.edu/faid/forms.

Aid Disbursement Information

Proceeds from most loans, grants, and scholarships are dispersed in equal payments, one-third each term, and will be applied to your student account with the school.

Reporting of Other Resources

Your financial aid award may be canceled or reduced at any time if there is evidence that your statement of financial conditions was misrepresented on your application. You must report any scholarship, grant, loan, or earnings other than those indicated on your award offer. You must also report receipt of funds such as VA, BIA, and any other resources that were not stated on your application. The financial aid award may be adjusted to reflect the change in your resources. In some circumstances this may require a reduction or repayment of financial aid funds received during the award year.

Changed-in-Status

You must notify the Financial Aid Office if you plan to withdraw from Oregon Tech during a term, do not plan to register for a subsequent term, or plan to change status from full-time (12+ credits per term) to three-quarter-time (9-11 credits per term) or half-time (6-8 credits per term). The award is based on the availability of state and federal funds and is subject to change. Awards are initially based on full-time enrollment unless the financial aid office has been notified otherwise.

The Oregon Opportunity Grant

The Oregon Opportunity Grant requires a full-time attendance for receipt of entire award amount. Part-time funding may be available.

Academic Progress Requirements

It is the student’s responsibility to review and understand the most recent Satisfactory Academic Progress (SAP) requirements from the Financial Aid Office and adhere to them. Failure to meet these minimum requirements may result in cancellation of your aid for subsequent terms or school years. Should your aid be withheld for SAP reasons, you will be requested to complete an appeal form and explain in writing the reasons why you did not achieve the minimum standard. A decision regarding continuation of your aid will be made by the Financial Aid Director/Financial Aid Committee.

Repayment/Refund

Under federal rules for Return of Title IV Aid, if you withdraw prior to completing 60% of the term of enrollment, you can expect to repay a portion of your financial aid or owe Oregon Tech after the school repays a portion of your aid to the appropriate financial aid programs. Adding and dropping classes up until the end of the second week of each term can affect your refund as well. Financial Aid will be recalculated during this time to reassess correct enrollment status. It may result in a bill from Cashier's and requiring a refunded amount of aid to be returned.

Additionally, if you earn an F or a W in a class that you signed up for but never actually attended then you will be subject to recalculation and repayment of any Pell Grant received for that class.

Release of Information

Financial aid is considered a confidential matter. The type of awards and amounts will only be released to a third party upon proper written authorization from the student. Conversely, your signature on this offer allows the release of information from other sources to the Oregon Tech Financial Aid Office to verify the receipt of funds other than those awarded here.

Drug Abuse Warning

If you are convicted of drug distribution or possession, your eligibility for Title IV student financial aid is subject to suspension or termination.

Policies of Nondiscrimination at Oregon Tech

Affirm the right of all individuals to equal education, school and inter-school activities, facilities and employment without regard to age, race, religion, color, sex, marital status, handicap or national origin. These policies are in accordance with federal and state laws.