COVID-19 impact on Financial Aid Office
Updated: December 18, 2020
If you are receiving a scholarship from an outside source, please mail those checks to the following address: Student Accounts, Oregon State University, PO Box 1086, Corvallis OR 97339. Be sure the scholarship administrator includes your name and student ID number on the check.
The Office of Financial Aid will be CLOSED December 30 through January 3, 2021.
Winter term charges were applied to student accounts on December 17, 2020. Financial aid will begin to disburse funds to student's accounts starting the week of December 27, 2020. Winter term bills are due February 1, 2021.
The Department of Education, on Friday, announced borrowers will receive a one-month extension of the federal student loan administrative forbearance period, the pause in interest accrual, and the suspension of collections activity. The measures will run through January 31, 2021, providing borrowers with debt relief for an additional month as the forbearance period was set to expire at the end of the year.
If you have had a significant reduction in income, that was not captured on your FAFSA, you may contact our office about the Special Conditions Appeal process. In some cases, the Special Conditions Appeal may be used by undergraduate students to update the FAFSA with new information that results in eligibility for need based aid. You may find more about the appeal process and requesting a preliminary review here: https://financialaid.oregonstate.edu/request-changes-0
While the national emergency status is in effect, The Department of Education is allowing flexibility to the return of Title IV funds requirement in some cases where a student withdraws due to COVID related circumstances. If you withdraw from OSU due to COVID related circumstances, we recommend contacting the Office of Financial Aid to find out if you may qualify for this flexibility.
***A note for federal student loan borrowers who are in repayment *** The administrative forbearance due to COVID-19 and temporary 0% interest rate on loans will expire on December 31, 2020. Lawmakers are currently working on another coronavirus-related stimulus bill and could include provisions on student loans. Until then on Jan. 1st borrowers will resume repayment if not enrolled at least half-time (Undergraduate is 6 credits and Graduate is 5 credits). If a borrower is experiencing a financial hardship we encourage you to reach out to your loan servicer. The Office of Financial Aid will do our best to keep you updated if the situation changes.