Financial Aid Programs Available to Students

Grants:

1. Federal Pell Grant

• Federal Pell Grants provide funding to students who meet certain eligibility criteria, according to federal guidelines. The amount awarded to students is determined by their Expected Family Contribution (EFC) and enrollment. Pell Grants are prorated based on a student’s enrollment.

2. Federal Supplemental Educational Opportunity Grant (SEOG)

• SEOG is awarded to Pell-eligible students with exceptional need, according to federal and institutional guidelines. Funding is limited to eligible students enrolled at least half-time who meet TBCC priority timelines.

3. Oregon Opportunity Grant

• The Oregon Opportunity Grant is awarded to eligible Oregon residents enrolled at least half-time (6 credits or more). Grants are adjusted with level of enrollment.

Loans

Students not eligible for grants or scholarships and requiring additional funds to meet educational expenses, may request a direct student loan. Student loans are available to students and families to borrow money for assistance with funding educational needs.

William D. Ford Federal Direct Stafford Loan

• The most utilized loan program is the William D. Ford Federal Direct Student Loan. Under this program, monies are borrowed by the student to pay for their educational expenses.

  What is a Federal Direct Stafford Loan?

• The Federal William D. Ford Direct Student Loan is a funding source for students enrolled at least half-time (6 credits) and is made available through the U.S. Department of Education. Direct loans are either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need. If students qualify for a subsidized loan, the federal government pays interest on the loan while the student continues to be enrolled in any accredited degree program at least half-time. An unsubsidized loan is an additional resource, not awarded on the basis of need. Once disbursed, students receiving an unsubsidized loan are responsible for the accruing interest from the time the loan is disbursed until it is paid in full. Borrowers may choose to pay the interest or allow it to accumulate. If allowed it to accrue, the interest will be capitalized--that is, the interest will be added to the principal amount of the unsubsidized loan and will increase the amount to be repaid. TBCC encourages students to pay the interest as it accumulates, thus reducing the student’s long term debt.

  How Much Can I Borrow?

• Dependent undergraduate students enrolled at least a half-time may borrow up to: $5,500 if you are a first-year student (0 - 45 credits earned) or $6,500 for second-year studenta (46+ credits earned).
• Independent Undergraduate Students enrolled at least a half-time may borrow up to: $9,500 for first-year (0 - 45 credits earned) or $10,500 second-year (46+ credits earned)

Note: Amounts noted above are maximum annual amounts available. Federal regulations prohibit students from borrowing more than the published cost of attendance minus any other financial aid the student is receiving. Thus, students may receive less than the annual maximum amounts.