What’s the 1st step to apply for aid?
File your FAFSA (Free Application for Federal Student Aid) at www.fafsa.gov. New applications open on
January 1st. It is best to file as early January as possible to have
the best opportunity to receive the most funds. Even if your or your
parents’/spouse’s taxes have not been filed yet, estimated numbers can be
used.Make sure to update your FAFSA once taxes have been filed. Your FAFSA will
determine your eligibility for grants, work-study, and federal loans.
Also, check out this Financial Aid Timeline
to help you prepare and receive your aid.
My parents make too much money. Should I still file?
Yes. You have to
file the FAFSA if you
plan on receiving any type of federal loan. Also, some scholarships require
that the FAFSA be filed for you to be considered.
I’m under 24 but my parents don’t support me. Can I be considered independent?
Only certain situations will make a student independent, but not being
supported by your parents is not one of them. These situations include:
- Being 24 or older
- Being married
- Having a dependent of your own
served in the military.
There are other situations—such as being an emancipated minor or in legal
guardianship--that can also make a student independent. You may want to refer
to the dependency questions on the FAFSA and then contact our office if you have further
My financial situation has changed since filing the FAFSA. What are my options?
The financial aid office can review you for a Professional Judgment (form can be found here)
if your financial situation has changed since the FAFSA was filed. Situations
that can be considered include a significant loss/reduction in income,
unusually high medical expenses, etc.
Note: If you have been selected for verification, you will need to have
those documents reviewed first before a Professional Judgment can be evaluated.
How much does it cost to attend Oregon Tech?
What is the interest rate for the federal loans?
All federal loans have fixed rates.
- Subsidized Stafford: 3.4% (government pays
interest while student is in school at least half-time)
- Unsubsidized Stafford: 6.8%
- Parent Plus: 7.9%
What is the Verification process and how will I know if I need to complete it?
The verification process is a federal requirement which mandates financial aid offices to confirm the information provided on your FAFSA. IF you are selected, we will notify you through the mail or email. Notification will also be listed on your Web for Student account. Be aware that any new FAFSA submissions can trigger being selected for verification, even if you were not selected previously. Therefore, always check your Web for Student and email accounts for new requests.
We will ask for some documentation, such as federal tax return transcripts (not copies of your tax return) and verification of items you claimed on your FAFSA, such as family size, number of people in your family attending college, asset information, income exclusions, etc. We match this information to the FAFSA and revise financial aid awards if necessary.
Your aid can be held up if these documents are not turned in and processed by our office. General processing can be between 4-6 weeks. If you receive any Federal aid, such as a Stafford loan, Pell grant, etc., your funds will not be released to your account until verification is complete.
Where is my award letter?
When ready, your award letter will be on your Web for Student account. New students will receive letters in the mail when the award letter is ready to be viewed and accepted. Continuing students will receive emails to the Oregon Tech email. Award letter instructions can be found here.
When do I get my money?
If all steps have been completed, financial aid will be applied to your
student account on the first day of each term. Aid will go towards any bill
owed automatically and if there are any extra funds, a refund will disburse to
A student must choose their refund option through HigherOne. If students are
set up on direct deposit to the HigherOne card they generally receive their
refund the first day of the term. Refunds set up to direct deposit to a
personal bank account (ACH) will take 2-4 business days; paper checks will be
sent within a week to the student. Be sure to always check for holds
on your Oregon Tech Web for Student
account. Any HigherOne questions should be directed at the Cashier's
Be aware that any classes dropped within the first two weeks of a term can
affect financial aid eligibility. Funds may be owed back to Oregon Tech, even
if a refund has already paid out. Make sure to stay up to date with the
Cashier's Office and your billing statement.
Will my grades and credit completion affect my aid eligibilty?
Yes, all students
must maintain satisfactory academic progress. In general, this means that
you must maintain at least a 2.0 GPA and complete at least 67% of all attempted
credits, per term and cumulatively. Please refer to Oregon Tech’s SAP policy for
Can my aid change thoughout the year?
Yes. Your initial financial aid award offer is based on the
FAFSA information we have at the time the award is created. Any discrepancies
discovered through verification or another process may cause a change to your
financial aid award. Therefore, it is to your advantage to make sure the
information on your FAFSA is as accurate as possible. Additionally, if you
filed your FAFSA based on estimated income tax information, it is important to make
corrections to your FAFSA as soon as you file your tax return.
Aid can also be affected by outside resources of aid
received for you. If any outside scholarships or grants exceed your budget,
loans or other aid may be reduced to have space.
Can my parents ask questions about my financial aid?
No, not unless you give us permission to share your information with them. FERPA (Family Educational Rights and Privacy Act) prevents us from releasing confidential information unless you sign a File Authorization form. The form can be found here. It can also be picked up at the Financial Aid or Registrar's office.
I am a Graduate Student, should I apply for Financial Aid?
students should file their FAFSA. Generally, Graduate students are evaluated
for loans and work-study programs.