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Below is a basic overview of undergraduate financial aid limits. Loan limits are different for dependent and independent students. Read how dependent/independent status is determined for federal financial aid on the FSA website.
Students are encouraged to closely monitor their federal aid usage on the studentaid.gov website. These yearly and aggregate maximums cannot be appealed once they are reached. More information on federal grants and loans may be found on the FSA website.
Pell Grant: maximum of 6 years (18 terms/12 semesters based on full-time enrollment).
Based on the Congressional approval of year round Pell, students may now receive up to 150% of their Pell eligibility in a single year. This means, starting in 17/18, a student at OSU may be eligible to receive a fulltime Pell Grant for all 4 terms of the academic year. Terms in which a student is attending less than halftime (fewer than 6 credit hours) may not be counted towards this additional eligibility. Please keep in mind that lifetime Pell eligibility has not changed.
More information on how Pell Lifetime Eligibility Usage (LEU) is calculated may be found on the FSA website.
Oregon Opportunity Grant (OOG): maximum of 4 years
More information about OOG eligibility may be found on the OSAC website
Yearly Undergraduate Ford Direct Loan Limits
Dependent student: maximum of $5,500, freshman, $6,500 sophomore, $7,500 junior/senior
Independent student: maximum of $9,500 freshman, $10,500 sophomore, $12,500 junior/senior
Aggregate Ford Direct Loan Limits (combined maximum for all years of seeking an undergrad/post-bacc degree)
Dependent student: maximum of $31,000
Independent student: maximum of $57,500
*There are additional limits on Ford Direct subsidized loans. More information on loan limits
may be found on the FSA website
*Dependent student loan maximums may increase to match the independent amounts in cases where the parent is credit denied for the parent plus loan for that aid year. After a parent is credit denied for that year, the student may request an increase by submitting a student loan revision form
Proration of Ford Direct Student Loans for Final Terms of Attendance
If a student is attending fewer than 3 terms in the final year of their undergraduate degree, their federal loans must be prorated to match their level of enrollment. Loan proration uses a federal formula to determine the maximum amount loans a student may receive based on the number of credits they are taking each term. For example, Sharon is graduating after attending only one term in the academic year. She is taking 12 credits fall term. For that single fulltime term, she may receive 1/3 of her yearly Ford Direct Student Loan maximum eligibility. That amount would be reduced further if she were attending less than fulltime.
The credit hour maximum timeframe (MTF) is an additional limitation beyond the federal aggregate aid maximums. Your MTF is 150% of the published time it takes to complete your first degree. For example, a Bachelor’s Degree that requires 180 credit hours has a MTF of 270 credits. Federal aid eligibility ends once the MTF is reached. There is an appeal process for students who are reaching MTF and meet certain criteria. More information about appealing for maximum timeframe may be found on the Satisfactory Academic Progress section of our website. Unfortunately, appealing for an MTF extension does not impact the federal aggregate aid limits. Once the aggregate limits are reached a maximum timeframe extension would have no impact on extending federal aid eligibility.
Parent Plus Loans
Although the Parent Plus Loans do not have yearly or aggregate maximums, they are only available to the credit approved parents of students who are undergraduate and considered dependent for FAFSA purposes. If a student is turning 24 or will otherwise be considered independent for a given aid year, the Parent Plus Loan option would not be available. Please review the FSA website for further information on dependency status.