Financial Aid & Scholarships

Types of State & Federal Aid

There are three basic sources of funds for college: Grants and Scholarships, Loans, and Federal Work-study. Most students rely on a combination of these sources to finance their education.  By completing the FAFSA, you are applying for grants, Federal Work-study, and loans.  Scholarships need to be applied for separately.  Please view our scholarship page for additional information on scholarships.  For a complete description of federal student financial assistance, please see The Student Guide.

Grants and Scholarships

Grants and Scholarships do not need to be repaid.

The Federal Pell Grant is a need-based grant made available by the federal government to undergraduate students who have not earned a bachelor's degree.  Each student's award is determined on the basis of family circumstances and cost of attendance. After the Free Application for Federal Student Aid (FAFSA) is filed, the Department of Education sends you a Student Aid Report (SAR) that indicates whether you are Pell eligible.

The Oregon Opportunity Grant is a state grant administered by the Oregon Office of Student Access and Completion (OSAC) and awarded to undergraduate Oregon residents based on need and allowable funding. Twelve terms of eligibility are possible. The grant is awarded to eligible students attending half-time or more. This grant is not available during summer term. 

The Oregon Promise Grant  is a state grant that helps to cover tuition costs at any Oregon community college for recent high school graduates and GED® test graduates. Students must apply during their senior year or immediately after GED® test completion. The Oregon Office of Student Access and Completion (OSAC) is responsible for the awarding and administering of the program. Continuation of the program in future years is contingent upon state funding.

The Oregon Tribal Student Grant was established to provide grants to eligible Oregon tribal students to offset the cost of attendance for attending eligible Oregon colleges and universities. Current continuing and new students are encouraged to apply for this grant for the 2022-2023 academic year. The grant is intended to cover the average cost of attendance after all federal and state grants/scholarships have been applied. The Oregon Tribal Student Grant is currently only funded for the 2022-2023 academic school year.  Renewal of the grant for following years is dependent on funding being allocated for the 2023-2024 academic year by the Oregon state legislature.

The Federal Supplemental Educational Opportunity Grant (FSEOG) is a federal grant administered by the LBCC Financial Aid Office. Funds are awarded to undergraduates with Pell eligibility and exceptional financial need as determined by the institution.

Scholarships are available from a variety of sources with varied eligibility criteria. In researching the various sources of college funding, students are encouraged to seek out sources that provide free services and information. Please contact the LBCC Financial Aid Office for more scholarship information. 

More information on scholarships is available on our Scholarship page.


Loans are borrowed money that must be repaid with interest.

To receive a loan, you must be enrolled at least half time.  Since the federal government may be subsidizing a portion of the interest and permitting the postponement of payments, loans are regarded as financial aid.  Educational loans usually carry a low-interest rate and offer a grace period with repayment generally beginning within six months after graduation or when you stop attending school at least half-time.  The two main types of loans at LBCC are the Federal Direct Loan and the Federal Parent Loan for Undergraduate Students (PLUS).

Federal Direct Loans

Federal Direct Loans are loaned to you from the federal government. An administrative fee may be taken from the amount of the loan before the funds are disbursed. The maximum yearly amounts for base loans are set by the federal government and based on class rank. To be considered a second year student, you must have completed at least 45 credits that are applicable to your major. Base loans may be either subsidized, unsubsidized, or a combination of the two, depending on the student's established unmet need.

Below are the annual maximums for Direct Loans. Depending upon the amount of room a student has under the Cost of Attendance, students may or may not be able to receive these full amounts. Your total financial aid package cannot exceed your Cost of Attendance, which is prorated by term.

  Independent Students Dependent Students
1st Year Base Loan $3500 $3500
Unsubsidized Loan $6000 $2000
2nd Year Base Loan $4500 $4500
Unsubsidized Loan $6000 $2000


The Subsidized Direct Loan is need-based, with the government paying the interest on the loan while you are enrolled. The Unsubsidized Direct Loan is non-need based; you will be responsible for paying the interest while you are enrolled. You may choose to defer the interest by having it added to the principal; this is called capitalization. Subsidized loans disbursed during the 2024-25 academic year have a fixed interest rate of 6.53%. Unsubsidized loans also have a fixed interest rate of 6.53%. You must be enrolled at least half time, and repayment begins six months after graduation or withdrawal.

The student loan payment pause is extended until the U.S. Department of Education is permitted to implement the debt relief program or the litigation is resolved. Payments will restart 60 days later. If the debt relief program has not been implemented and the litigation has not been resolved by June 30, 2023 — payments will resume 60 days after that. Borrowers will be notified before payments restart.

Borrowers are required to complete online Entrance Counseling and a Master Promissory Note (MPN) prior to receiving the loan funds. Entrance Counseling and MPN information is available from the LBCC Financial Aid Office. Students who have already been awarded financial aid and accepted their loans on their WebRunner account will receive an e-mail with the Entrance Counseling and MPN information.

For Subsidized Direct Loans, interest will not accrue while you are attending at least half time. However, interest subsidies during the six month grace period were eliminated for new subsidized loans made on or after July 1, 2012.

New borrowers at LBCC are subject to a 30-day delay, meaning they cannot receive loan funds until after 30 days during their first term of enrollment. Loans during subsequent terms may disburse at the regular time.

Loan disbursements must occur in equal disbursements. If a loan is certified for one-term only, the first disbursement will occur during the second week of the term, and the subsequent disbursement will occur after the midpoint of the term.

PLUS Loans

The Federal Parent Loan for Undergraduate Students (PLUS) is a federal loan borrowed by the parent on behalf of a dependent student to assist with educational expenses. Parents may borrow up to the Cost of Attendance as determined by the LBCC Financial Aid Office, minus any other financial aid the student may receive.

The PLUS is a non-need based loan at a fixed interest rate of 9.08% for the 2024-25 year. Interest is charged on the loan to the borrower from the date the first disbursement is made until the loan is paid in full. Repayment generally begins within 60 days after the final loan disbursement. 

PLUS loans must be requested separately by completing the Parent PLUS Loan Application.

Direct Loan Interest Rates for 2024-2025

The chart below shows the interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2024 and before July 1, 2025.

Loan Type Fixed Interest Rate
Direct Subsidized Loans and Unsubsidized
Loans for Undergraduate Students
Direct PLUS Loans for Parents of Dependent
Undergraduate Students


Federal Work-Study (FWS)

FWS funds must be earned

Federal Work-Study (FWS) is a need-based program made available by the federal government to qualifying students enrolled in at least six credits. Students awarded FWS need to secure a job on campus and work towards their maximum award amount. The maximum award amount is simply the most money that students can make in a term and does not represent what each student will receive. Students will receive paychecks based on their hourly wage and the hours they worked.

Once you have been awarded FWS, please visit our Work-Study page for instructions on how to proceed.

How do I get FWS? Students who marked on the FAFSA that they are interested in FWS will have it added to their award package if they qualify and funding is available. Unfortunately, funding for FWS is very limited and typically runs out early. To maximize your potential of getting awarded FWS, complete all steps in the LBCC Financial Aid Process early. When additional funding becomes available the LBCC Financial Aid office will post an announcement on the main page of this website and around Takena Hall. Students will need to follow the directions in the announcement and complete an in-person application on the day posted. All awards will be given on a first-come, first-served basis.