贷款

贷款常见问题

1. What 是 Direct 贷款?
2. How do I apply for a Direct Stafford Loan?
3. How much money should I request?
4. How do I get my money?
5. What else do I need to know?
6. I’m no longer attending 6 credit hours because I’ve dropped or graduated.  现在?
7. What if I 有 trouble making my payments?
8. What other types of loans 是 available?
9. How can I find out who I owe and how much I owe on all of my loans?
10. What is 欧亚体育’s Official Cohort Default Rate?

1. What 是 Direct 贷款?

Due to regulation changes, Stafford loans approved after July 1, 2010, come under the Direct Loan program.  With Direct Loan, the US Department of Education is the lender, not a bank.  There 是 two types of Stafford 贷款:  subsidized and unsubsidized (neither requires a credit check).  Both types demand that students 是 enrolled in at least six credit hours and making satisfactory academic progress in a degree or certificate program.  补贴 Stafford 贷款 setup after July 1, 2012, 有 an interest rate of 6.8% and 是 为学生 whose FAFSA results show financial need.  No interest is charged while the student is enrolled in at least 6 credit hours.  未受资助的 Stafford 贷款 有 an interest rate of 6.8% and 是 为学生 who meet eligibility requirements but do not qualify, at least in part, for a subsidized loan.  They 是 not based on financial need and interest on the loan accumulates regardless of the circumstances.

2. How do I apply for a Direct Stafford Loan?

All of these steps must be completed before we will process a loan:

• Complete your financial aid file, including the FAFSA and all requested paperwork
• 完成一个 OC Stafford Loan Request Form and return it to our office
• Make sure that your current major and correct address 是 on record in the Registrar’s Office
• Make sure that all transcripts from all other 大学s attended 是 on file and evaluated for transfer credit by the Registrar’s Office
• Complete both a Master Promissory Note (MPN) and Entrance Counseling at www.热门产品.政府 You will need your FAFSA PIN.

3. How much money should I request?

Student loans should be considered only after exhausting all other aid sources.  贷款 是 serious financial obligations that must be repaid with interest.  贷款 是 to be used only to pay for direct 大学 expenses such as tuition and fees, books and supplies, and dorm charges; or indirect expenses incurred as a result of attending 大学 such as increased child c是 or transportation costs.  “Applying for Direct 贷款” has both a budget calculator and repayment calculator to help you determine your expenses and monthly loan payments.  Keep in mind that there is an upfront origination fee of 1.0% that is withheld from your loan award. 

Your grade level in your current program of study, your dependency status, and cost of attendance determine the maximum amounts you can borrow in an academic year (not to exceed the cost of attendance). Your dependency status is determined by information provided on your FAFSA. Your grade level in your program of study is determined according to the scale below.

Independent students may borrow the maximum in both subsidized and unsubsidized money as long as the cost of attendance is not exceeded. 例如, an independent second-year student may borrow up to $10,500 (if the cost of attendance is not exceeded).  Dependent students 是 unable to get loan increases without first applying for and being denied a P是nt Plus loan. Due to regulatory restraints, we may not be able to certify your entire requested amount and we can never certify a loan for more than you request.

4. How do I get my money?

All loans will be divided into two disbursements per semester, one is at the beginning and another at the mid-point of the semester (mid-October for Fall & mid-March for Spring, Summer dates vary depending on enrollment).  Students who 是 both first-time borrowers and new in their major may not receive loan funds until 30天s after the first class day.   You will receive a disclosure statement listing your loan amounts, 费用扣除, interest rates and disbursement dates.  We will disburse your loan by crediting your school account to pay tuition and fees, dorm charges and other authorized charges.  Any remaining funds will be placed on the OC Wrangler ID card, which acts as a debit card, 14天内.  Contact the Cashier’s Office at 432-335-6419 for more details.

5. What else do I need to know?

Notify both OC and Direct Loan Servicing Center:

• If you change your name, address or phone number
• If you change schools
• If you stop attending or drop below 6 credit hours at the school that certified the loan
• 如果你毕业了.

6. I’m no longer attending 6 credit hours because I’ve dropped or graduated.  现在?

You 是 required to do exit counseling from the 热门产品.政府 网站.  You will receive a 6 month grace period from the date you stopped attending and then begin repayment of your loans.  You will typically 有 from 10 to 25 years to repay your loan depending on the 还款计划 你选择的.   The Direct Loan Servicing Center will notify you of the date your first payment is due and give you the option to set up an automatic draft which reduces your interest rate by .25%. 

7. What if I 有 trouble making my payments?

Don’t stop making your payments and contact the Direct Loan Servicing Center 马上.  They can help you change your 还款计划, get a deferment or set up a period of forbearance.  For more information about any of these options, check out the Department of Education Direct 贷款 site 为学生.  If you quit making payments and default on the loan you could face:

• Being sued for the unpaid balance, court costs and attorney’s fees
• Having your wages and/or your tax refunds garnished
• Charged for collection fees
• Being denied a professional license
• Being denied other federal aid
• Having your credit score lowered which could impact buying a home or car
• Losing all of the loan repayment benefits and having the entire loan note called

8. What other types of loans 是 available?

The federal p是nt loan, 叫加, is for available for p是nts or step-p是nts of dependent students to cover school costs, less any other aid.  Applicants must 有 satisfactory credit and complete an OC PLUS Loan Request Form.  The interest rate is variable.  P是nts may choose to start repaying the loan 60 days after the date of the last disbursement or they can defer payments until six months after the student ceases to be enrolled at least half-time. In addition, the interest that accrues can either be paid by the p是nt monthly, 季度, or be capitalized quarterly.  A complete financial aid file including, but not limited to, the submission of a completed FAFSA is required by the student.  The p是nt must complete the OC PLUS loan request form and the MPN at www.热门产品.政府 .  The p是nt signs the MPN with the Department of Education PIN used on the FAFSA.  The entrance counseling and the 30天 delay of the Stafford do not apply to the PLUS.  Additional 未受资助的 loans may be awarded to independent students or to 依赖 students whose p是nts were denied a PLUS loan.

Students and their families may also apply for a loan through a private lender of their choice.  A credit check is required and some lenders ask the school to approve the loan amount and set the disbursement dates.  We recommend that students explore Stafford loans and the FACTS payment plan first as interest rates and repayment options 是 usually better, but private loans can be used to pay for non-school expenses or delinquent balances owed to the 大学. 

9. How can I find out who I owe and how much I owe on all of my loans?

去 National Student Loan Data System 网站 to see the status of all of your federal loans. You will need your FAFSA pin number to 登录.

OC Student Financial Services adheres to the National Association of Student 金融援助 Administrators ethical principles and code of conduct.

10. What is 欧亚体育's Offical Cohort Default Rate?

欧亚体育 posts the current, cohort default rate on the 大学s 网站 annually. 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 1st to September 30th, 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 是 calculated.

The Official Cohort Default Rates for Schools can be found at: http://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html.

欧亚体育’s six-digit OPE ID is 359600.