Answers to Financial Aid Questions

Yes. You have to file the FAFSA if you plan on receiving any type of federal loan. Also, some scholarships require that the FAFSA be filed for you to be considered.

Only certain situations will make a student independent, but not being supported by your parents is not one of them. These situations include:

  • Being 24 or older
  • Being married
  • Having a dependent of your own
  • Having served in the military.
  • Homeless/McKinley Act

There are other situations—such as being an emancipated minor or in legal guardianship--that can also make a student independent. You may want to refer to the dependency questions on the FAFSA and then contact our office if you have further questions.

The financial aid office can review you for a Professional Judgment if your financial situation has changed since the FAFSA was filed. Situations that can be considered include a significant loss/reduction in income, unusually high medical expenses, etc.

Note: If you have been selected for verification, you will need to have those documents reviewed first before a Professional Judgment can be evaluated.  

The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan. The table below provides interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2020, and before July 1, 2021.

Perkins Loans (regardless of the first disbursement date) have a fixed interest rate of 5%.

Undergraduate Borrowers

Graduate or Professional Borrowers

Parents and Graduate or Professional Students




Direct Subsidized Loans and Direct Unsubsidized Loans

Direct Unsubsidized Loans

Direct PLUS Loans

All interest rates shown in the chart above are fixed rates that will not change for the life of the loan. See the Federal Student Aid website for more information.

The verification process is a federal requirement which mandates financial aid offices to confirm the information provided on your FAFSA. IF you are selected, we will notify you through the mail or email. Notification will also be listed on your Web for Student account. Be aware that any new FAFSA submissions can trigger being selected for verification, even if you were not selected previously. Therefore, always check your Web for Student and email accounts for new requests.

We will ask for some documentation, such as federal tax return transcripts (not copies of your tax return) and verification of items you claimed on your FAFSA, such as family size, number of people in your family attending college, asset information, income exclusions, etc. We match this information to the FAFSA and revise financial aid awards if necessary.

Your aid can be held up if these documents are not turned in and processed by our office. General processing can be between 4-6 weeks. If you receive any Federal aid, such as a Stafford loans, Pell grant, etc., your funds will not be released to your account until verification is complete.

When ready, your award notification will be on TECHweb in your Web for Student account. New students will receive letters in the mail when the award notification is ready to be viewed and accepted. Continuing students will receive emails to the Oregon Tech email. View Award Notification.

If all steps have been completed, financial aid will be applied to your student account on the Thursday prior to the term start. Aid will go towards any bill owed automatically and if there are any extra funds, a refund will disburse to the student.

Oregon Tech delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. For more information, visit this link:  Be sure to always check for holds on your Oregon Tech Web for Student account. Any BankMobile Disbursement questions should be directed at the Cashier's Office.

Be aware that any classes dropped within the first two weeks of a term can affect financial aid eligibility. Funds may be owed back to Oregon Tech, even if a refund has already paid out. Make sure to stay up to date with the Cashier's Office and your billing statement.

Yes, all students must maintain Satisfactory Academic Progress. In general, this means that you must maintain at least a 2.0 GPA and complete at least 67% of all attempted credits, per term and cumulatively. Please refer to Oregon Tech’s SAP policy for specific information.

Yes. Your initial financial aid award offer is based on the FAFSA information we have at the time the award is created. Any discrepancies discovered through verification or another process may cause a change to your financial aid award. Therefore, it is to your advantage to make sure the information on your FAFSA is as accurate as possible. Additionally, if you filed your FAFSA based on estimated income tax information, it is important to make corrections to your FAFSA as soon as you file your tax return.

Aid can also be affected by outside resources of aid received for you. If any outside scholarships or grants exceed your budget, loans or other aid may be reduced to have space.

No, not unless you give us permission to share your information with them. FERPA (Family Educational Rights and Privacy Act) prevents us from releasing confidential information unless you sign a File Authorization form. It can also be picked up at the Financial Aid or Registrar's office.  Students can also add parents or others to the Proxy tab located in their Web for Student accounts.
All students should file their FAFSA. Generally, graduate students are evaluated for loans and work-study programs.
For financial aid to cover a class—or put another way have those credits count towards your enrollment—that class must apply to your degree. At Oregon Tech only classes that are of the 100 level or higher count towards graduation. Therefore, Financial Aid will not cover Math 97 (or any other class under the 100-level).

Entrance Counseling:  We download records from the Department of Education about once a week; if it has been more than two weeks since you completed the counseling and the requirement has not cleared then you can contact our office. We will confirm completion with the Department of Education for you.

MPN (Master Promissory Note):  Your MPN will not match in our system until we request the loan from the Department of Education. For Fall Term, we generally start originations in September. After your origination is complete the MPN file will match and the requirement will clear.