How do I Apply for a Loan?

In order to be considered for a loan at OC you must complete ALL of the following:

• Complete your Financial Aid file, including the FAFSA
• Fill out and return to our office the OC Loan Request form
• Have your current major on record in the Registrar's Office
• Complete the online loan application at TG Loans By Web (login instructions)
• Transcripts must be evaluated for all colleges previously attended

Click the Loan Request Form link below or pick one up in our office.

For assistance in making an informed decision regarding lender selections, please click on the link provided below for LENDER FACT SHEETS.

Student loans should be considered only after exhausting all other aid sources.

Student loans are serious financial obligations that must be repaid.  Loans may have long-term implications and amount of money borrowed may affect ability to borrow for a home or car after college.

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Federal Stafford Loan - Subsidized and Unsubsidized
Subsidized loans are available to students who are enrolled in at least six credit hours, are making satisfactory academic progress in a degree or certificate program and can demonstrate financial need on the FAFSA. Loan amounts are a maximum of $3,500 for freshmen and a maximum of $4,500 for sophomores. The federal government pays the interest while the student is in school for Subsidized loans.

Unsubsidized Loans are for students who meet eligibility requirements but do not qualify at least in part for a Subsidized loan. The government does not pay interest for the student; students must pay all of the interest that accrues. Additional Unsubsidized loans may be awarded to Independent students or to Dependant students whose parents were denied a PLUS loan. In addition to a FAFSA, a separate loan application is required. Stafford loan checks will be dispersed in two installments each semester. The second check will not be issued until after 60% of the semester is completed. First-time, first-year borrowers must attend an entrance counseling session before the receipt of the first installment and wait 30 days after the first class day to pick up their check. A Stafford Loan must be repaid within ten years from the date a student is last enrolled in a participating institution. Repayment begins six months after a student ceases half-time enrollment. Contact Student Financial Services for interest rates and disbursement dates.

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Federal Parent Loan (PLUS)
Available for parents or step-parents of dependent students to cover school costs, less any other aid. Applicants (parent/step-parent) must have satisfactory credit. The interest rate is variable and repayment begins 60 days after disbursement of funds. The parent chooses the lender and the loan checks are mailed to the parent without the 30 day delay. A complete financial aid file including, but not limited to, the submission of a completed FAFSA is required by the student.  The parent must complete the PLUS loan request form, and the application at TG Loans by Web (login instructions). The student is not required to attend an entrance counseling session.

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