Types Of Aid

Types of Aid

If you are ready to start your educational journey, we want you to know about the funding sources available to help you pay for college. College expenses include tuition, fees, transportation, room, board, books, childcare and other costs associated with being a college student. You can pay for college using personal savings, with help from your family, with earnings from work, by applying for and receiving scholarships, or through financial aid from the government in the form of grants and loans.

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Grants

Grants are financial aid that doesn’t have to be repaid. There are many different kinds you may be eligible for: A PELL Grant is awarded based on financial need to students who have not earned a bachelor’s or graduate degree. They are determined by:

  • your financial need
  • your full-time or part-time student status
  • your attendance over the academic year

PELL grants are limited to a lifetime limit of six full time years (600%). Federal Supplemental Educational Opportunity Grant (FSEOG) funds are first come, first served. Students who will receive Federal Pell Grants and have the most financial need will receive FSEOGs first. Oregon Opportunity Grant (OOG) funds are limited and funding is determined by the State of Oregon. Students are encouraged to file their FAFSA each year in October and must meet the following requirements to be eligible:

  • Have financial need
  • Be an Oregon resident
  • Be an undergraduate student with no prior bachelor’s degrees
  • Be enrolled at least half-time

Students who are awarded OOG grant funds but delay fall enrollment may lose eligibility. Awards for students who are enrolled half-time in fall term may be limited to half-time amounts for all remaining terms in the academic year. Oregon Promise program —An Oregon program offering recent high school graduates and GED recipients an opportunity to have some or all of their community college tuition covered.  Grants are for students entering a community college in Oregon within six months of their graduation or GED attainment. Eligibility Highlights

  • Graduate from an Oregon high school or complete the GED  within six months of community college entrance
  • Have a 2.5 cumulative GPA or higher
  • Have been an Oregon resident for at least 12 months prior to enrolling in community college

Scholarships

Scholarships can be merit-based (which means they are based on your academic performance or other criteria such as community service) or need-based (which means they are based on your financial need) and do not need to be paid back. TBCC and the TBCC Foundation offer many different types of scholarships that can help you pay for tuition, fees, books, child care expenses and more.

View TBCC Scholarships We also encourage you to explore other resources to find more scholarship opportunities:

  • FASTWEB A college planning and Scholarship Search with over $3 billion scholarships.
  • College Board Explore scholarships, college costs and understand how financial aid works.
  • Oregon office of Student Access Provides access to over 500 scholarships through a single online application.

Federal Work Study

The purpose of the Federal Work Study Program at Tillamook Bay Community College is to provide meaningful part-time employment for students to utilize their earnings to meet their educational expenses. In addition, the program is intended to provide jobs which will enhance the student’s educational or career goals whenever possible. Positions are paid at minimum wage, which is currently $12.00, unless otherwise noted. The work study award is paid to the student in the form of a monthly paycheck for hours worked during each payroll period. The student fills out a timecard each month student has the opportunity to work until the amount awarded is exhausted. If any of the available positions are jobs of interest then please submit a resume at Student Services, or email it to kelseyjordan@tillamookbaycc.edu indicating which position(s) you are wanting to apply for. The supervisor for that position will contact you to set up an interview. Positions currently available are:

Student Services Assistant

Equity and Inclusion Assistant

Loans

Loans are available to students enrolled in a minimum of 6 credits who need additional funds for college. Student loans must be paid back with interest, so it is best to use “free” money like grants and scholarships first before relying on loans. Only borrow what you need from loans to pay for college, and understand your loan repayment options. 

Federal Direct Loan

Subsidized LoanA low interest loan available to undergraduate students with financial need. The U.S. Department of Education pays the interest while you are enrolled in an eligible degree program at least half-time.Fixed Interest Rate: 2.75%
Unsubsidized LoanA loan available to undergraduate and graduate students. The student does not have to demonstrate need. You will be responsible for paying the interest during all periods. Fixed Interest Rate: 2.75%
Parents’ Loan for Undergraduate Students (Plus)A PLUS Loan is available to parent borrowers who do not have an adverse credit history to help meet the student’s education expenses. If a parent borrower is unable to secure a PLUS loan, the undergraduate dependent student may be eligible for additional unsubsidized loans to help pay for his or her education.Fixed Interest Rate: 5.3%

To discuss loan options, please contact a TBCC Financial Aid Advisor at (503) 842-8222, ext 1100 or via e-mail. You may request a student loan by completing the  20-21 Loan Request Form  and submitting it to TBCC’s Student Services Office.

Official Cohort Default Rates for Schools

A cohort default rate is the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year. Please refer to the Cohort Default Rate Guide for a more in-depth description of cohort default rates and how the rates are calculated.

The U.S. Department of Education releases official cohort default rates once per year. The FY 2017 official cohort default rates were delivered to both domestic and foreign schools on September 28, 2020, electronically via the eCDR process. All schools must enroll in eCDR to receive cohort default rate notification. Schools may check their eCDR enrollment online or by calling CPS/SAIG Technical Support at 800-330-5947.

— Tillamook Bay Community College’s current cohort default rate is 18.3%. —

The FY 2017 national cohort default rate is 9.7 percent. The Department released a summary of the FY 2017 official cohort default rates by institution type.

Schools may also obtain an electronic loan record detail report via the National Student Loan Data System (NSLDS) Professional Access website. A loan record detail report contains the data used to calculate a school’s FY 2017 official cohort default rate. Assistance in accessing the NSLDS site or with downloading an electronic loan record detail report is available through NSLDS Customer Service at 1-800-999-8219.

For schools interested in taking actions to manage defaults, and for schools required to submit a default prevention plan based on at least one year of a cohort default rate equal to or greater than 30 percent, please refer to the federal regulations at 34 CFR 668.217 and Appendix A within that section.

Important Note: Some schools have a small number of borrowers entering repayment. At other schools only a small portion of the student body takes out student loans. In such cases, the cohort default rate should be interpreted with caution as these rates may not be reflective of the entire school population.

Search the Cohort Default Rate Database

You may search this database for one school or many schools by OPEID (Office of Postsecondary Education Identification Number), school name, city/state, institution type, or eligibility status. Note: A school must have had at least one borrower in repayment for any of the years for which a cohort default rate was calculated to be found in this database.

Other information:

  • Historically Black Colleges and Universities Fact Sheet.
  • Official FY 2016 Schools Subject to Potential Sanctions Appeal Status Report PDF file | Excel file. (The FY 2017 report will be provided at a later time.)
Download an Excel or zipped Access fileDescription of file
AccessExcelFY 2017, FY 2016, and FY 2015 official cohort default rates published for schools participating in the Title IV student financial assistance programs.
AccessExcelSchools subject to loss of Direct Loan Program and/or Federal Pell Grant Program eligibility due to FY 2017, FY 2016, and FY 2015 official cohort default rates of 30.0% or greater. Definition
AccessExcelSchools subject to loss of Direct Loan Program eligibility due to FY 2017 official cohort default rates greater than 40.0%. Definition

Download a Microsoft Excel or Zipped Access File

The information contained in the searchable database and the downloadable files reflects schools’ 3-year cohort default rate data as of September 30, 2020. Because a school may appeal its cohort default rates, a school’s official cohort default rate may change. Instructions on using these files may be found here. Please contact Partner Eligibility and Oversight Services at (202) 377-4259 or via e-mail for the most up-to-date information regarding school cohort default rates and eligibility for Title IV student financial assistance programs.

Loan Repayment

There are a variety of Repayment Plans available if you qualify. To find out more information on how much you owe, who will be collecting your payments, and what payment plans are available, log on to the National Student Loan Data System (NSLDS).

At Tillamook Bay Community College, we want you to be successful. We have partnered with Inceptia, a nonprofit organization, to provide you with FREE assistance on your student loans. If you experience difficulty making your student loan payments, Inceptia counselors are available to help you find a solution. They will listen to you and help you determine an approach to get your loans back into good standing. This may include a deferment, forbearance, or a different repayment plan where payments could be as low as ZERO dollars per month. Inceptia is a FREE service we provide to help you. You can reach an Inceptia counselor at 855-471-1614.

Exit Counseling

Helps you understand your rights and responsibilities as a student loan borrower. Exit Counseling is required before you withdraw, graduate, or drop below half-time attendance (even if you plan to transfer to another school). Loan students must complete Exit Counseling when they withdraw, graduate, transfer, or drop below 6 credits.

Private Student Loans

Private student loans often have higher interest rates than those offered by the federal government, so it could be better for your budget to explore the above options before considering a private loan. Tillamook Bay Community College does not participate in or certify alternative private loans. However, pursuant to Section 155 of the Higher Education Act of 1965, as amended, (HEA) and to satisfy the requirements of Section 128(e) of the Truth in Lending Act, a lender must obtain a Private Education Loan Applicant Self-Certification (PDF) signed by the applicant before disbursing a private education loan. Schools are required on request to provide this form and the required information only for students admitted or enrolled at TBCC. Students should understand that free or lower-cost Title IV federal, state, or school student financial aid may be available in place of a private education loan.