Corban students are eligible for aid from federal and state programs, as well as Corban’s own aid programs. We encourage all students to look for financial aid from outside sources as well. Your local library and High School counselor are good places to begin your search for local outside scholarships. On a national level, try Fastweb.com. Prior to March 1, Oregon residents can fill out the application at for private scholarships through the State of Oregon. In order to receive the most federal, state, or institutional aid, students must first fill out a FAFSA.
Federal Aid
Federal Direct Stafford Loans
A Subsidized Stafford Loan is a need based loan where the payments and interest start six months after the last date of enrollment. The government “subsidizes” or pays the interest while you are in school. An Unsubsidized Stafford Loan is a non-need based loan. It’s the same as a Subsidized Stafford Loan, only the government doesn’t subsidize the interest while you are in school. You may choose to pay the interest as you go or have it accrue and be added to the principle amount upon repayment. There are loan fees for each.
Stafford loans can be awarded to all Corban students, with Subsidized Staffords going to students with financial need. The Federal Direct Loan program eliminates the need for loan applications, outside lenders, guarantee agencies, and paper loan checks. Corban will provide the student with everything needed to receive a Federal Direct Stafford Loan. The maximum loan amounts depend on the student’s year in school and total financial need. For more information click here.
Federal Grants
- Pell Grants
- TEACH Grant
For more information about Federal Grants click here.
Federal Supplemental Educational Opportunity Grants (FSEOG)
Awarded students with significant financial need at Corban, and range from $200 to $4,000. This is a limited fund award. For more information click here.
Federal Work-Study
FWS is aid to students who have financial need and work on campus. FWS must be earned and will be paid out as work is completed. FWS students can claim their FWS earnings as income exclusions on the FAFSA the following year. If you are eligible for FWS you will be notified on your award letter of your eligibility. In addition to on campus jobs you can tutor school children in reading and receive FWS money. For more information click here.
Education Tax Credits and Deductions
The site www.finaid.org provides an overview of possible tax credits and deductions. Please contact a tax professional for complete details or visit www.irs.gov.
State Aid
In order to receive any federal, state, or institutional aid, students must first fill out a FAFSA.
Alaska State Student Loans
These loans are available to Alaska residents who attend Corban full time. For more information click here.
Oregon Opportunity Grants
Available to Oregon residents who demonstrate significant financial need on the FAFSA. Maximum awards vary yearly. For more information click here.
OSAC Private Scholarships
Private scholarships available to students who apply. Application and list of scholarships are available on the Oregon Student Assistance Commission’s (OSAC) website. For more information click here.
Institutional Aid
One of the best ways to receive financial aid is from Corban University itself! Learn about Corban scholarships, grants, and other awards. Be sure to fill out your FAFSA, as this is one of the factors used to determine the awarding of Corban grants. Other possible factors for institutional aid include your GPA and SAT/ACT/CLT scores, as well as participation in extracurricular activities such as athletics, music, theatre, and debate. Some awards are given automatically, while others require a separate application.
Private Aid
Private scholarships and grants are available from a variety of sources including organizations, businesses, foundations, churches, and schools. Local libraries and schools are the most common places to find resources detailing available scholarships.
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Additional Borrowing Options
A Parent can borrow a federal PLUS loan for a student, or the student can borrow a low-interest private loan (usually with a co-signer).
Federal PLUS loan features (borrowed by a parent)
- Credit decisions are based on recent credit history, not debt to income ratio.
- A fixed 7.595% interest rate.
- 4.264% loan fee. 95.736% of the amount borrowed is applied to the student’s account.
- Payments begin 60 days after the loan is fully disbursed (typically in the spring semester) or a parent can request that the Department of Education defer payments until six months after the student ceases to be enrolled on at least a half-time basis.
- If the parent is denied the PLUS loan due to credit, the student qualifies for additional federal unsubsidized Direct loans ($4000 for Freshmen and Sophomores and $5000 for Juniors and Seniors).
- Offers loan forgiveness in the event of Death or Permanent Disability of the student or parent borrower.
For more information see the Federal Student Aid Office.
Private loan features (borrowed by the student with a co-signer)
- Apply with the lender, such as one of these alternative private education loan lenders.
- Interest rate varies based on credit worthiness of the borrower or co-signer.
- May have fees if approved at a level other than excellent credit.
- Payments don’t begin until six months after you graduate (most lenders).
- Interest rates are variable but some lenders offer a fixed rate option.
- Some lenders allow for the co-signer to be dropped after one or two years of on-time payments.
- Some lenders offer a loan forgiveness option in the case of a student death or disability.