Doug Severs, Director of Financial Aid & Scholarships joined us for an information sharing session on Financial Aid and Scholarships. Here are some highlights…
• There are a lot of changes on the pipeline for aid: Perkins Loans may not be re-authorized (up for re-authorization in 2014); Opportunity Grants now have a “blind” deadline in that they advertise a deadline, and then if they have too many applicants, they change what day they “accepted” the applications until in order to change the number of names in the pool; Waited until they knew exactly how much was available before sending award letters.
• Summer Financial Aid: Students can access the necessary form via Online Services; Students will not receive more aid- FA will just split the aid up over 4 terms instead of 3. (NOTE: Pell grants can only span over 3 full-time terms, so students can go half-time for two terms to span the grant over 4 terms if they would prefer.)
• Satisfactory Academic Progress (SAP):
– 67% completion rate
– Related to GPA- can calculate at the end of the term OR at the end of the academic year
– Student notified after two terms of un-SAP (first term is considered a warning); once they get notified of an SAP, they will need to appeal to get FA back.
– 2 “Withdraw from the University for the Term” = un-SAP
– Maximum time frame can cause un-SAP as well: Student has attempted 150% (or 270 credits) and still has no degree.
– Military credits pose a special challenge and this can be dealt with on a case by case basis. Have the student talk to FA.
– There are also generally exceptions made for those in an OSU dual degree program

Questions from Advisors:

Q:Does FA notify students when their choice of home school could be detrimental to the amount of funding that they receive?
A:No, but it’s possible that there can be a note added to Online Services.
Q:How does FA differ for post-bacc students? (And graduate students)
A:PB students cannot receive grants, but they have the same access to loans as any other undergraduate. (Grads can access loans but not grants via FA.) If OSU FA official meets with a student and sees that they have technically reached enough credits to graduate, but have not done so, they will be placed into PB status and their aid may be changed accordingly.

Q:What can you tell us about a waiver for the GRE via Financial Aid? What about the MCAT?
A:There are students who are eligible for waivers for the GRE. Contact Patti Brady-Glassman or have students come into the FA office. This is an underutilized service!! No such thing exists (that Doug is aware of) for the MCAT.

Q:What is the difference between a grant and a loan? Subsidized and un-subsidized loan?
A:Loans need to be repaid, whereas a grant does not. Subsidized loans are interest free while the student is still in school. Unsubsidized loans begin accruing interest right away. Loan rates are climbing to 6.8%. Yikes.

Q:What kinds of scholarships are available through FA?
A:FA only awards scholarships to incoming Freshman and transfer students. Upperclassman should look to their departments and/or colleges for scholarship opportunities. NOTE: Unlike some other schools, OSU will not lessen the amount of aid a student receives if they also end up receiving some sort of external funding. (But they may if they end up receiving more internal funding.)
Q:What is a good scholarship website to refer students to?
A:http://oregonstudentaid.gov/
Q:Can non-degree seeking students receive financial aid?
A:No. If you have students who need “just a couple of classes” for pre-requisites, or whatever, encourage them to still register as “degree-seeking” if they are trying to access financial aid.

And a special thank you to Terina McLachlain for delectable pumpkin chocolate chip cupcakes and banana cake. So yummy!!