Loans

The Federal Family Education Loan Program provides loan funds to students that have to be repaid with interest. Students may be eligible for one of the following loans:

• Subsidized Federal Stafford loan
• Unsubsidized Federal Stafford loan

Subsidized Federal Stafford loans are low interest loans made by lenders to help you pay for your education. Subsidized Loans are based on financial need and the federal government pays the interest while you are in school. Repayment begins six months after you graduate or drop to less than half time. Francis Tuttle's financial aid office will receive your financial information and determine your eligibility for the Federal Stafford loan. The maximum Stafford loan for first year students is $2625. The maximum Stafford loan for second year students is $3500. Besides the maximum you can receive in loan funds each year there is also a maximum total. The maximum for Undergraduates is $23,000. Students are also required to attend entrance and exit counseling. If you need more information of Stafford Loans you can contact Oklahoma Guaranteed Student Loan Program's borrower hotline at 1.800.442.8642. To apply for the Stafford Student Loan complete the FAFSA at www.fafsa.ed.gov.

Unsubsidized Federal Stafford loans are low interest education loans made by lenders to help you pay for your education. You are responsible for the interest on an unsubsidized loan while you are in school, grace or deferment. Repayment begins six months after you graduate or drop to less than half time. Complete and mail the Free Application for Federal Student Aid or apply on the internet at www.fafsa.ed.gov. Francis Tuttle's financial aid office will receive your financial information and determine your eligibility for the Unsubsidized Stafford loan. The amount you can borrow through the Unsubsidized Federal Stafford Loan Program depends on your other sources of aid, cost of attendance, dependency status and length of academic year. The amount also depends on if you receive subsidized Federal Stafford loans, which are federal loans based on financial need. If you need more information on this program you can contact the Oklahoma Guaranteed Student Loan Program's borrower hotline at 1.800.442.8642, or search their web site at www.ogslp.org.

Loan Counseling is required for all student loan borrowers. Entry Loan Counseling is required before first disbursements and exit counseling is required before second disbursements. Visit the Career Information and Assessment Center located at the Campus Center in the west end of the Career Planning Center to have access to computers. Students may also complete the session via personal computer.