(2) Under the program, the cost of education of a qualified student shall be shared by the student, the family of the student, the federal government and the state.
(3) The Director of the Office of Student Access and Completion shall determine the cost of education of a qualified student based on the type of eligible post-secondary institution the student is attending. The cost of education equals:
(a) For a student attending a community college, the average cost of education of attending a community college in this state;
(b) For a student attending a public university listed in ORS 352.002, the average cost of education of attending a public university;
(c) For a student attending a two-year Oregon-based, generally accredited, not-for-profit institution of higher education, the average cost of education of attending a community college in this state; and
(d) For a student attending the Oregon Health and Science University or a four-year Oregon-based, generally accredited, not-for-profit institution of higher education, the average cost of education of attending a public university listed in ORS 352.002.
(4)(a) The director shall determine the amount of the student share. The student share shall be based on:
(A) The type of eligible post-secondary institution the student is attending;
(B) The number of hours of work that the director determines may be reasonably expected from the student; and
(C) The amount of loans that the director determines would constitute a manageable debt burden for the student.
(b) The student shall determine how to cover the student share through income from work, loans, savings and scholarships.
(c) The student share for a student who attends a community college may not exceed the amount that the director determines a student may earn based on the number of hours of work reasonably expected from the student under paragraph (a) of this subsection.
(d) The student share for a student who attends an eligible post-secondary institution that is not a community college may not exceed the sum of the amount that the director determines a student may receive as loans plus the amount a student may earn based on the number of hours of work reasonably expected from the student under paragraph (a) of this subsection.
(5) The director shall determine the amount of the family share. The family share shall be based on the resources of the family.
(6) The director shall determine the amount of the federal share based on how much the student or the student’s family is expected to receive from the federal government.
(7)(a) The director shall determine the amount of the state share. The state share shall be equal to the cost of education reduced by the student share, family share and amount received by the student from the federal government.
(b) The director shall establish a minimum amount that a student may receive as a state share. If the director determines that the amount of the state share of a student is below the minimum amount, the student may not receive the state share.
(c) The director may not reduce the amount of the state share of a student based on amounts available to the student by virtue of being the designated beneficiary of a college savings network account established under ORS 178.300 to 178.360.
(8) Subject to subsection (9) of this section, if the director determines that there are insufficient moneys to award the state share to all qualified students, the director:
(a) May establish the maximum amount that a student may receive as a state share. This amount may vary based on whether the student is attending an eligible post-secondary institution on a half-time or full-time basis.
(b) May establish procedures that prioritize awarding Oregon Opportunity Grants to qualified students with the greatest financial need or whose circumstances would enhance the promotion of equity guidelines published by the Higher Education Coordinating Commission.
(c) May not reduce the amount of the state share awarded to students in the low income range in a greater proportion than the amount that the state share for students in other income ranges is reduced.
(9)(a) The Higher Education Coordinating Commission shall adopt rules that prioritize current foster children and former foster children for receiving Oregon Opportunity Grants when the Oregon Opportunity Grant program does not have sufficient funding to serve all eligible Oregon students.
(b) For the purposes of this subsection, "former foster child" has the meaning given that term in ORS 350.300. [1971 c.735 §1; 1999 c.1070 §8; 2001 c.321 §8; 2007 c.802 §3; 2011 c.637 §144; 2011 c.642 §4; 2013 c.747 §86; 2013 c.768 §30; 2015 c.624 §1; 2017 c.66 §10]