Terms & Conditions of your award

I understand the aid as offered is to supplement my own resources for payment of my educational costs at Oregon State University. I agree to use the funds for my educational expenses as outlined in the student budget and that funds will be made available beginning the first day of each term, provided all necessary requirements have been completed. I understand that my financial aid offer may be adjusted during the year by the Office of Financial Aid due to changes in institutional, State, or Federal funding or to other unknown factors, such as changes in student attrition or percentage of award acceptances.

 

I understand that the Admission’s office determines my residency status for tuition purposes. I will update the Office of Financial Aid if my aid status does not match my current residency classification or if my classification is revised at any time.

 

I understand that I must notify the Office of Financial Aid in writing if I withdraw from OSU during a term or do not register for a subsequent term. I also understand that if I withdraw I may be required to repay some of the aid that I have already received. I understand that my aid is based on a full-time course load (12 credits undergraduate, 9 credits graduate), unless I have made specific arrangements in writing with the Office of Financial Aid for a reduced course load.

 

I understand that I am expected to maintain satisfactory academic progress and to complete my degree requirements within a maximum timeframe in order to continue to receive aid. I understand that I am responsible for knowing the most recent standards of satisfactory academic progress policy as noted on the Financial Aid website or hard copy available at the Financial Aid office.

 

I understand that if my parents are interested in the Federal Direct Parent PLUS loan, one parent needs to submit the Parent PLUS loan application found at: studentaid.gov. The parent that completes the Parent PLUS loan application must also complete and sign the Master Promissory Note (MPN) at: studentaid.gov, if a first time Parent PLUS loan borrower.

 

I understand that if I am a first-time borrower accepting the Federal Ford Direct student loan, I am required to complete an Entrance Counseling session at: studentaid.gov and sign a Master Promissory Note (MPN) at: studentaid.gov.

 

I understand that if Federal Work-Study is part of my aid, I must work to earn the amount of this financial aid offer. I understand that the wage will be at least the State minimum wage and that I cannot work more than 20 hours in a week while school is in session. For more information visit the Federal Work Study webpage.

 

I understand that the scholarships listed on my financial aid offer letter are part of my aid package information and I understand that I must accept my scholarship as offered separately by the donor.

 

I agree to report to the OSU Office of Financial Aid any additional assistance I may receive at any time throughout the school year. This includes, but is not limited to, all departmental scholarships, outside scholarships, stipends, fellowships, GRA or GTA positions, room and board allowances or subsidies, vocational rehabilitation, staff rates, tuition waivers, BIA, etc. I understand that additional assistance may result in a reduction of my award and/or require repayment of financial aid already received. To print and submit an Additional Resources form, please visit the Financial Aid Forms webpage.

 

Rights & Responsibilities

 

As a student you have the right to:

  • know what financial assistance is available to you, including all federal, state, and institutional financial aid programs.
  • know the deadlines for submitting applications for applicable financial aid programs and the process required.
  • know how your financial need is determined, including how cost of attendance budgets are developed.
  • know what resources are considered in the calculation of your financial need, and how much of your need as determined by OSU has been met.
  • an explanation of the types of aid contained in your financial aid offer as well as how to retain eligibility for those funds (if applicable)
  • request a review of your current financial situation if you meet certain criteria based on changes since filing the current aid year FAFSA application.
  • know what portion of your aid package is grant or gift aid, and what portion must be repaid. In addition, you have the right to know interest rates, total amount to be repaid, procedures for repayment, when repayment begins, and how long you have to repay the loan.
  • know the criteria for continued financial aid eligibility, including guidelines for the determination of Satisfactory Academic Progress as defined by the Department of Education.
  • know the method and frequency of financial aid disbursements.

 

Additional Information

Criteria for Continued Financial Aid Eligibility

Satisfactory Academic Progress

Financial Aid Disbursement

Direct Loan Terms & Conditions

Direct Loan Exit Counseling

Perkins Loan Terms & Conditions

Perkins Loan Exit Counseling

Loan Repayment Information

Federal Work Study Terms & Conditions

 

As a student you have the responsibility to:

  • be aware of your ability to pay any institutional charges based on your available financial aid and personal resources.
  • review and understand the terms and conditions of your financial aid award.
  • complete all requirements accurately, in a timely manner, and by the appropriate deadlines.
  • inform us if you intend to enroll less than full time for any given term so that your aid can be properly adjusted and disbursed.
  • inform us of any outside scholarships, assistantships, or additional resources that you receive.
  • fill out the FAFSA application completely and accurately. If selected for verification you will provide all requested documents in a timely manner, and ensure that all submitted materials are complete and accurate. Falsification of information on application forms for federal financial assistance is considered a criminal offense, and you may be subject to penalties under the U.S. Criminal Code.
  • read and understand all forms that you are asked to submit or sign, realizing that you are legally responsible for all agreements that you sign.
  • know and comply with all policies and procedures of Oregon State University.
  • manage your financial aid experience.