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How to Pay for College - a summary of options

Federal Programs

 

·       Pell Grant: up to $5,920; based on need

·       Federal Supplemental Educational Opportunity Grant (FSEOG): up to $4,000 for students with exceptional need; administered by colleges

·       Stafford Loans: Federal loans of varying amounts for education

·       Teacher Education Assistance for College and Higher Education (TEACH): up to $4,000 per year to students to agree to teach for 4 years at a school serving low-income families.

·       Work-study: If you qualify under FAFSA, you may be eligible for a job at your college or university that will help to pay for your costs. These jobs can often be scheduled around your classes.

·       American Opportunity Tax Credit: a tax credit of up to $2,500 per year for undergraduate education. May be claimed by you or your parents/guardians. Refunds are possible.

·       Lifetime Learning Credit: A tax credit of up to $2,000; may not be used along with the AOTC so more commonly used for graduate work.

·       Tax Deduction for Interest Paid: If you take out a government or private loan, you can take a tax deduction for the interest paid on the loan each year.

 

Oregon State Programs


·       Oregon Opportunity Grant: up to $2,250 per year based on need.

·       Oregon Promise: up to $3,540 per year  for community college

·       Chafee Grant: up to $5,000 to cover educational expenses of current and former foster children. Some conditions and restrictions apply.

·       Oregon Foster Child Tuition and Fee Waiver: allows certain children who are (or were) in foster care to attend college in Oregon tuition-free. Supplements the Chafee Grant.

·       Oregon Student Child Care Grant: assists parents with child care costs while they attend a postsecondary education program in Oregon

·       Oregon Barber and Hairdresser Grant Program: one-time awards of varying amounts for students attending licensed participating schools of barbering, hair design, cosmetology, or manicure in Oregon


Savings Programs


            The Oregon College Savings Program allows you and your parents to save for college and save on taxes. At the Federal level it is called a 529 plan. Here’s how it works in Oregon:

·       Start with as little as $25 and $15 per month through a payroll deduction, or much more if you wish. You can save up to $310,000 through this plan.

·       At the Federal level, contributions to your fund are not tax deductible, but all investment earnings are tax-deferred and withdrawals for college expenses are tax-free.

·       At the state level in Oregon, contributions to your fund are tax-deductible up to certain limits. Investment earnings are not taxed. Withdrawals for college purposes are not taxed.

·       A plan may be funded by you and your parents as well as by relatives and friends.

·       Tax savings over a long period of time can be substantial.

 

An Individual Development Account (IDA) is a savings program for low-income families. If you qualify based on family financial need, IDA will set aside $3 for every $1 you save up to $3,000 of your savings. Thus, if you save $3,000 IDA will add another $9,000 for a total of $12,000. This is a plan for you, not your parents, and contributions must be made from your own paycheck. You must be at least 17 years old to participate.

 

Private scholarships


            There are more than 40 private scholarships available through the ASPIRE office at SHS. These scholarships range in size from $250 to full tuition for 4 years. To search for other scholarships, use one or more of the following:

·       Career Information System (CIS): A program from the University of Oregon that offers many services to students who are exploring colleges and careers. One function is a scholarship search.

·       CareerOneStop: a scholarship search site from the U.S. Department of Labor

·       College Board Big Future scholarship search: offered online by the organization that administers the SAT.

·       Fastweb: A scholarship search engine

·       Ford Scholars: This program is sponsored by the Ford Family Foundation in Oregon. There are several categories:

o   Ford Scholars Program: for graduating high school seniors and community college transfer students

o   Ford Opportunity Program: for single parents who are ‘head of household’

o   Ford Re-Start: for students age 25 or older who are starting or returning to college for a certificate or degree program.

o   Ford Sons and Daughters: for dependents of Roseburg Forest Products employees.

·       Office of Student Access and Completion (OSAC): This state-administered site has a scholarship search engine that provides information on hundreds of scholarships, along with direct application to those scholarships. While many do not apply to SHS students, there are few that are relevant.

·       QuestBridge: Students with financial need, a high GPA and strong SAT/ACT scores may be matched with one of 40 outstanding colleges and universities to receive full 4-year scholarships.

·       Scholarship Monkey: A scholarship search engine

·       Scholarship Owl: A scholarship search engine

·       Scholarships.com: A scholarship search engine

 

Note: some of these sites have the capacity to conduct searches specifically for transfer students.

           

Military Service


       Military service can result in free classes, tuition reimbursement, and (in the case of the four military academies listed below) free tuition for four years.

·       Military Tuition Assistance: you may be able to take classes while you are in the military. Maximum payment is $250 per credit up to $4,500 per year.

·       Montgomery GI Bill: you may get $50,000 or more to pay for college, depending on how long you serve in the military.

·       Reserve Officer Training Corps (ROTC): If you join ROTC on campus, the military will pay for your college education. Joining ROTC means you commit to military service upon graduation.

·       U.S. Air Force Academy (CO) Military

·       U.S. Coast Guard Academy (CT) Military

·       U.S. Military Academy at West Point (NY) Military

·       U.S. Naval Academy (MD) Military

 

Special Programs


·       Pathway Oregon: Pell Grant recipients who have at least a 3.4 GPA may receive free tuition for four years.

·       Portland State University: If you meet the financial need requirements and have at least a 3.4 GPA, you may qualify for four years of free tuition at Portland State. There is a similar program for transfer students.

·       Western Undergraduate Exchange (WUE): This organization offers a significant reduction in out-of-state tuition rates for residents of Alaska, Arizona, California, Colorado, Idaho, Montana, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, and Wyoming when they attend certain listed colleges in one of those states.

 

Colleges with No Tuition


            A few colleges have staked their reputations on offering free tuition, when Federal and State grants are combined with college scholarships and work-study grants. They are:

·       Alice Lloyd College (KY) Christian

·       Barclay College (KS) Christian

·       Berea College (KY) Liberal Arts

·       College of the Ozarks (MO) Christian

·       Cooper Union (NY) Science and Art

·       Curtis Institute of Music (PA) Extremely competitive

·       Deep Springs College (CA) Extremely small

·       Macaulay Honors College (NY) Part of CUNY; requires New York residency

·       St. Louis Christian College (MO) Christian

·       U.S. Air Force Academy (CO) Military

·       U.S. Coast Guard Academy (CT) Military

·       U.S. Military Academy at West Point (NY) Military

·       U.S. Naval Academy (MD) Military

·       Webb Institute (NY) Engineering

 

Training Grants and Assistance


WorkSource Oregon offers several programs to provide financial assistance those seeking to improve their skills leading to employment:

·       The Workforce Innovation and Opportunity Act (WIOA) will pay up to $4,500 for education in certain fields including manufacturing, construction, and health services. The student must complete the FAFSA and be in a program that will likely end within a year. Google ETPL Oregon to find a list of Eligible Training Providers (including trade schools and community colleges).

·       Self-Employment Assistance (SEA) for self-employed individuals who are likely to run out of unemployment insurance benefits.

·       Lane Workforce Partnership for Youth: Lane County creates partnerships with local employers, labor groups, government entities, community colleges, high schools, and community-based organizations to provide internships and other services to Lane County youth who seeking work.


Part-time and Summer Jobs

 

During the school year, you may look on-campus and off-campus for a job.

On-campus:

·       Check the school job-postings board, which may be located in the student union. If you can’t find it, ask someone in the student services office or the career center. There may also be an online jobs database. Apply early (in the weeks before a new semester starts).

·       If work-study is part of your financial aid package, then check with the financial aid office for suitable jobs.

·       Inquire at the student services office about becoming a Residential Advisor (RA). Each dorm has RA’s who help students with their needs, maintain order, etc. It’s often a competitive process, but RA’s often get free housing (and maybe meals, too).

·       Some other good campus jobs include Teaching Assistant (TA) to a professor (usually for upper-level students), tour guide, tutor (check with the tutoring center or student services office), library assistant, research assistant, food service waiter/waitress, etc.

Off-campus

·       If there is a “downtown” area that caters to college students (pubs, restaurants, shops, etc.) you are likely to find job openings there

·       Some local employers may list openings on job postings boards or with the career center.

·       Check Craig’s List, newspaper classified ads, or just go door-to-door

·       Check with older students (juniors and seniors) and with your RA. They may have some experience in the local job market.

·       Check the local state employment office

Summertime

If you are staying in your college town for the summer, look for jobs:

·       On campus: Professors may need research assistants; if the dorms are occupied for summer classes, you may be able to get a job as an RA; the admissions department might need help with paperwork, tours for visitors, etc.

·       Off campus: with far fewer students competing for local jobs, you may be able to choose among a number of jobs in town

·       If there is a part of town that caters to tourists, try getting a job there in a shop or restaurant

·       Contact the local state employment office; you may find listings there for summer jobs

·       Start looking for summer work before the school year is over; good summer jobs may be snapped up early

 

Jobs that offer loan forgiveness


            The following jobs may offer forgiveness for some or all student loans. In some cases, the employee may be required to work with low-income or minority populations for a certain number of years in order to have the student loan reduced or eliminated:

·       Federal agency employees

·       Public service officers

·       Doctors and nurses

·       Lawyers

·       Teachers

·       Non-profit and volunteer organization workers

 

            Some companies also offer loan forgiveness, which is often based on continued employment with the company. A few such companies are: Aetna, BP3 Global, Chegg, Chownow, Commonbond, Connelly Partners, Credit Suisse, Fidelity Investments, First Republic, Gradifi, Kronos, Lendedu, Natixis, Nvidia, Powertex Group, Price Waterhouse Coopers, Sofi, Staples, and Tuition.io. 

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