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Loan Information

Ozark Christian College Code of Conduct relating to financial aid (PDF) 

Financial Aid Links 


Student Loans

Parent Loans


Private Loans

 Student Loans

Stafford Student Loans (back to top

Student Loans must be repaid. Avoid unnecessary debt, borrow only what you need. 

A Federal Stafford Loan is a loan, not a grant. Before you borrow, make sure you can afford the monthly payments. You must repay the funds you borrow, plus interest and fees.

In order to receive a Federal Stafford Loan, you must have already completed the Free Application for Federal Student Aid (FAFSA). You must also return your signed award letter and have a promissory note on file with the Department of Education or a Lender.

Upon completion of the FAFSA, you may qualify for either a subsidized or unsubsidized Stafford Loan, or a combination of both. When your loan has been processed in the Financial Aid Office, you will receive a letter letting you know if your loan is subsidized, unsubsidized, or a combination of both.

  •  Subsidized: Based on certain need criteria, the federal government will pay the interest on this loan while you are enrolled at least half time, and during grace and any periods of authorized deferment.
  • Unsubsidized: Students not meeting the criteria to qualify for a subsidized Stafford Loan may still apply for an unsubsidized Stafford Loan. The borrower is responsible for the interest on this loan. The interest may either be paid on a quarterly basis or added to your principal balance through a process called capitalization.

Federal Stafford Loan Program Annual Maximums(back to top)

0-29 Credit Hours Complete***  

Dependent*   $3,500 + $2,000
Independent**   $3,500 + $6,000
30-59 Credit Hours Complete***    
Dependent*   $4,500 + $2,000
Independent**   $4,500 + $6,000
60 or more Credit Hours Complete***    
Dependent*   $5,500 + $2,000
Independent   $5,500 + $7,000 

* Dependent: Students who were required to use parent’s income tax information to complete the FAFSA

** Independent: Students who needed only their own and/or spouse’s income tax information to complete the FAFSA or dependent students whose parents have been denied a PLUS Loan.
*** Credit Hours Complete must count towards your degree.

 What Lender Do I Choose? (back to top 

Beginning January 1, 2010 all new borrowers will be directed to the Federal Direct Loan Program. 

 How will OCC receive my loan money? (back to top 

Federal Regulation requires that your loan be disbursed in two disbursements. Loan disbursements will be received through EFT.  Loan funds are received weekly and will be sent approximately 2-3 weeks from the date all of your loan documents are received.  

 How can I make Changes to my loan?  (back to top
You may complete a Loan  Change Form in the Financial Aid Office. 

Follow these easy steps to apply for a Stafford Student Loan. (back to top)

  1. Sign and return your award letter to the Financial Aid Office . See page 1 of your Award Letter to determine if you need to complete steps 2 and 3. 
  2. E-sign a Direct Master Promissory Note (MPN).  You will need your Department of Education PIN to log in and sign the MPN. If you do not know your PIN, please visit the Department of Education's PIN Site to retreive it. 
  3. Complete Entrance Counseling for a Federal Direct Loan.  

NOTE: You must be enrolled in at least 6 credit hours in order to be eligible for a Loan. 

Parent Loans 


*The US Department of Education has announced that beginning March 29, 2015, a new PLUS Counseling module will be added to the StudentLoans.gov Website in English only. This counseling must be completed by Direct PLUS Loan applicants (by parents of dependent undergraduate students) who are determined to have an adverse credit history, but qualify for a Direct PLUS Loan by obtaining an endorser or by documenting extenuating circumstances. 


The PLUS Loan is a fixed interest rate loan made available to creditworthy parents of a dependent undergraduate student. The loan is intended to cover the remaining cost of attendance. 

The interest rate is fixed under current regulations at 7.21%. Interest is charged from the date of first disbursement. Repayment on both interest and principal begins 60 days after the final disbursement of the loan. (Parents can request a delay in payments from the Department of Education.) 

The loan funds will be sent to the school in two disbursements. The funds will first be applied to tuition, fees, room and other school charges. If any loan funds remain, the parent borrower (or student if parent authorizes) will receive the balance from the Business Office.   

In order to receive a Federal PLUS Loan, the student’s financial aid file must be complete. A complete file includes the results of the Free Application for Federal Student Aid (FAFSA). 

Check out Direct Loan Basics For Parents for more information. 


  1. Complete the Federal Direct PLUS Loan application, which includes a Master Promissory Note. You will need your Department of Education PIN to confirm you identity. If you do not have a PIN, please visit the U.S. Department of Education's PIN Site to obtain one. 

NOTE: If your loan is not approved, the OCC Financial Aid Office will notify the student of additional unsubsidized loan eligibility. 

Private Loans 

Private loans may be available. Contact the Financial Aid Office for more information.

If you have any questions concerning your financial aid, please do not hesitate to call or e-mail us.  

Phone: 417.626.1234 (X2017) or (X2027)
Toll Free Phone: 1.800.299.4622
Email: FinAid@OCC.edu