Financial Aid

Financial aid assistance at the University comprises scholarships, loans, grants, and work-study to those who qualify. In addition to award-ing financial aid, the SOU Financial Aid Office provides financial aid counseling.

Since SOU has a limited amount of financial assistance available, the primary responsibility for meeting the student's educational expensesrests with the family.

Application Procedures

The Free Application for Federal Student Aid (FAFSA) is used to apply for loans, scholar-ships, grants, and the work-study program. Students may access the FAFSA on the Web at www.fafsa.gov.

Students may obtain a paper FAFSA application from any college financial aid office or their high school counselors. An application for admission must be on file before an aid offer can be made.

Application Deadlines

To meet the University’s March 1 deadline for financial aid “first consideration,” file the FAFSA listing SOU between January 1 and February 10. These early applicants who have applied for admission to SOU usually receive their award notifications beginning in April. Later FAFSA applicants who have applied for admission are notified on a rolling basis.

Financial aid awards are for a one-year period. Applicants must reapply through the FAFSA each year to receive continued consideration for financial assistance. For more information, contact the Financial Aid Office at 541-552-6161.

Perkins Loan

The Federal Perkins Loan is a 5-percent deferred interest loan. First priority in awarding is given to early FAFSA filers with high financial need. At SOU, the average award is $1,000 a year. These funds must be repaid. Repayment begins nine months after the student graduates or leaves school.

William D. Ford Federal Direct Loan

The Federal Direct Stafford/ Ford Loan is available to all eligible students. Needy students borrow first from the subsidized Stafford/ Ford Loan (interest deferred). Students categorized as “no need” borrow through the unsubsidized Stafford/ Ford Loan (interest accrues while enrolled). Annual limits are: $ 2,625 for freshmen; $3,500 for sophomores; $5,500 for juniors and seniors; and $8,500 for graduate students.

Students defined as independent by aid law may qualify to borrow both the subsidized and unsubsidized Stafford/ Ford Loan amount each year. This allows the eligible independent student to borrow approximately twice as much as the dependent student.

The total combined Stafford/Ford Loan debt maximums are $23,000 for dependent undergraduates and $46,000 for independent undergraduates. The graduate maximum of $138,000 includes loans received as an undergraduate.

Postbaccalaureate students or those pursuing a second bachelor’s degree are limited to borrowing the appropriate undergraduate amount. The interest rate is variable, not to exceed 8. 25 percent. Loan processing fees of 1.5 percent are deducted from each loan disbursement. Repayment begins six months after the student graduates, leaves school, or drops below 6 credits.

Federal Direct PLUS Loans are available to parents of dependent undergraduate students. No family income restrictions are attached to this auxiliary loan program. A credit check is required. The interest rate is variable, not to exceed 9 percent. Loan processing fees of 2.5 percent are deducted from each loan disbursement. Parents may borrow up to the cost of attendance minus other aid. These loans may be used to offset expected contributions by the parent.

Employment

The Federal Work-Study Program provides federally subsidized part-time employment for students with analyzed financial need. Job hours are coordinated with the student’s class schedule. Positions are available in campus departments and off-campus nonprofit agencies. The program encourages community service work.

The Student Employment Office helps students’nd other, non-work-study jobs on campus and in the community for part-time employment.

Scholarships, Awards, Grants, and Gifts

Last academic year, SOU students received more than $5 million through SOU sources or other public and private scholarship donors. Students should contact the Financial Aid Office or visit www.sou.edu/finaid for more information about scholarships.

Scholarships. Southern Oregon University offers a number of scholarships, ranging from $100 to $9,000. Many scholarships are awarded to students already attending the University. However, approximately 180 freshman scholarships are available, including the SOU Diversity, Presidential, Laurels, Smullin, Robert W. and Betty F. Root, and Ruth Kneass Memorial scholarships. Many scholarships are awarded on the basis of academic achievement and others on need or community service. Consult the Financial Aid Office or www. sou. edu/finaid for scholarship application deadlines. Applicants must file the FAFSA for need-based scholarships. Institutional scholarships are coordinated through the Financial Aid and Awards Committee.

Federal Pell Grants. This award provides students with up to $4,050 for each undergraduate year. Pell Grants are awarded to low-income families. Unlike loans, grants do not have to be paid back.

Federal Supplemental Educational Opportunity Grant (SEOG). These grants provide up to $1,000 a year to undergraduate students with exceptional financial need who file early. Students must be Pell-eligible to receive SEOG consideration.

Oregon Opportunity Grant (OOG). The Oregon Student Assistance Commission considers undergraduate, full-time students who are Oregon residents for this grant. The OOG is based on financial need and is renewable annually for up to twelve terms, provided financial need and satisfactory progress continue. Early filing of the FAFSA is strongly advised.

OUS Supplemental Tuition Grant. Undergraduates who are Oregon residents are considered for the OUS Supplemental Tuition Grant. The student must be enrolled full time each term. The maximum award is $1,200 a year.

Information regarding scholarship opportunities at Southern Oregon University can be found at the Financial Aid Office Web site (www.sou.edu/finaid) or at the SOU Foundation Web site (www.soufoundation.org).