East West College is committed to helping students achieve their educational goals. Students may make full payment of tuition and fees at the time of enrollment, apply for federal financial aid, obtain tuition assistance from agencies, or set up a payment plan. Our Financial Aid Department counsels students about their financial options, and helps them develop affordable and feasible payment plans.
East West College is eligible to offer federal financial aid to students who qualify, and is approved by the U.S. Department of Education and the Oregon Higher Education Coordinating Commission. Students must be enrolled in a minimum of 12 hours of classes per week to receive financial aid assistance.
Applying for federal financial aid can be complicated, but East West has developed a simple, step-by-step way to make it easier. Just click the links below to get started.
There are two types of federal financial aid available to East West College Students—Grants and Loans. Special benefits for Veterans are discussed at the Veteran’s Affairs Veterans Benefits site.
GRANTS – The Federal Pell Grant Program
Grants are funds given to a student that don’t have to be repaid. In the federal financial aid system, these funds are called the Federal Pell Grant Program. They are available to East West College students. Awards are based upon demonstrated financial need and the cost and length of the program.
LOANS – The Federal Direct Loan Program
Loans are funds given to a student that have to be repaid. In the federal financial aid system, these funds are called the William D. Ford Federal Direct Loan Program. These “Direct” loans are designed to help students and parents pay for the student’s education after high school. At this time the lender is the U.S. Department of Education rather than a bank or other financial institution.
Interest rates on Direct Loans are low and fixed for the life of the loan. Students are not required to make payments while enrolled for at least 12 hours of classes per week. There is a six-month grace period that begins when a student enrolls for fewer than 12 hours of class, withdraws from all classes, or graduates. Only one grace period is granted during a student’s borrowing history.
The Federal Direct Loan Program offers three types of loans: Subsidized Stafford Loans, Unsubsidized Stafford Loans, and PLUS Loans.
Subsidized Stafford loans are for students with demonstrated financial need as determined by federal regulations. No interest is charged while a student is in school at least half-time (12 hours of classes per week minimum), during the grace period, and during deferment periods.
Unsubsidized Stafford loans are not based on financial need. Interest is charged while the student is in school and during the grace period. Students may elect to either pay the interest but not the principal while in school or postpone paying interest while in school and add it to the principal of the loan. The amount cannot exceed the federal annual limit for combined subsidized and unsubsidized loans.
PLUS Loans are unsubsidized loans designed for parents to help pay for their dependent student’s education. The PLUS loan is a credit-based loan that may be borrowed annually. The amount is determined by subtracting the financial aid awarded to the student from the cost of attendance as determined by the school. Interest begins accruing with the first disbursement of funds. Repayment also begins immediately and the first payment is due sixty days after the first disbursement of loan funds. Parents as borrowers may be able to defer payments. This information is available once you have been assigned a servicer.
Completing the online Free Federal Student Aid Application, or FAFSA, is quick and easy. The first step is to apply for your Federal Student Aid ID by visiting this site.
Once you have your FSA ID you will need to collect the following information in order to fill out the application completely.
- Valid Driver’s License
- Social Security Card
- W-2 Records or Other Financial Income Documents
- Federal Tax Returns
- Parents Tax Returns (Under Age 24)
- Untaxed Income Records
- Current Bank Statements
- Investment Records
- Alien Registration or Permanent Resident Card (Not US Citizen)
With this information available you can begin the online application at www.fafsa.ed.gov.
The federal government will send the results of your FAFSA application to the East West College Financial Aid Office. Once you have been accepted into the 800-hour program, the Admissions Office will send your Enrollment Agreement to the Financial Aid Office, which will use all of this information to calculate your Financial Aid Award Package.
Award Counseling. The Financial Aid Office will then set up a meeting with you to discuss your Financial Aid Award Package and answer any questions you may have. There will be four items in your Financial Aid Award Package:
1. Budget Worksheet. This shows the cost of your program, the total aid you have been awarded and the budget that was used to calculate your need. It also shows any amounts that will not be covered by your Financial Aid Award.
2. Financial Aid Award Letter. This will tell you the type and amount of aid you will receive and when you can expect to receive it.
3. A Parent PLUS Worksheet (if relevant). This worksheet is only for the parents of dependent students with PLUS loans. It shows the cost of attending East West College, the amount of the student offer and the remaining balance. This information will allow parents to borrow additional funds to help with living expenses while their student is attending school.
4. A Financial Aid Summary. This document gives a detailed breakdown of the types and amounts of aid being received and when to expect the disbursements to your account.
Master Promissory Note. At the end of this meeting, you will be directed to complete a “Master Promissory Note” and a “Entrance Counseling” document that indicates your legal obligations regarding the award. Both of these required documents can be completed online by visiting www.studentloans.gov.
The links below are available to help interested students calculate the cost of their education.
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