Which school administers your financial aid can vary from term to term. As long as you enroll in lower division (100/200-level) courses at Portland State, either school can administer the aid. Community colleges cannot administer aid for upper division (300/400-level) courses; therefore, your financial aid should be administered by Portland State whenever you enroll in upper division courses.
Also, be aware that you must be enrolled in at least 6 credits at Portland State to be eligible for financial aid from Portland State for the term.
See the Financial Aid web site for further information.