Student Loan Information Links

Extremely Important Note:

Starting with the 15-16 school year, your maximum loan eligibility will be limited to the educational level annual loan limit, so please budget your loan acceptance amount accordingly if you plan on attending summer school.  Direct Loan annual loan limits are provided at on "How much can I borrow?".

Financial Aid Code of Ethics

Direct Loan Master Promissory Note

Click the above link to electronically sign your Master Promissory Note with your federal PIN.

Entrance Loan Counseling

Click the above link to complete on-line Entrance Loan Counseling that is required for student loan processing.

Direct Loan PLUS Loan Application/Master Promissory Note

Click the above link to apply for a PLUS (Parent) Loan and sign the Master Promissory Note with the parent federal PIN.

Exit Loan Counseling

Click the above link to complete Exit Loan Counseling that is required prior to graduation, leaving school, or dropping below a half time status.

Repayment Tips for Struggling Borrowers & Important Loan Default Facts

Click the above link for important information for repayment of your student loan and the consequence of not making payments on time.

Student Loans

  • Student loans, unlike grants and work-study, are borrowed money that must be repaid.
  • Students must be enrolled at least part-time (6 hours as an undergraduate student or 5 hours as a graduate student) each semester to receive loan funds.
  • First-time borrowers must complete Entrance Loan Counseling and electronically sign a Master Promissory Note (MPN) before a loan can be processed.
  • Loan funds are disbursed in two installments; the first disbursement for the fall semester and the 2nd disbursement for the spring semester. Loans for one term only have a single disbursement.
  • Students who withdraw or drop to less than ½ time during the Fall semester will have the Spring disbursement of their loans cancelled. A loan reinstatement form must be completed to request reinstatement of Spring loan funds at the time the student enrolls for the Spring semester.
  • Student loan funds must first be used to pay tuition, fees, and room and board. Remaining loan funds will be refunded via Higher One.

Stafford Loans

Subsidized Loans

  • Available to students who demonstrate financial need.
  • The U.S. Department of Education pays the interest: 
    • While a student is enrolled in school at least half-time. 
    • For the first six months after a student leaves school (grace period).
    • During a period of deferment.

Unsubsidized Loans

  • Does not require students to demonstrate financial need, but cannot exceed the cost of attendance.
  • The student is responsible for paying interest that accrues from the time the loan is disbursed until the loan is paid in full.
  • The student may pay the interest while in school or during a period of deferment or forbearance.
  • The student may allow the interest to accrue (accumulate) and have the interest added to the principal amount of the loan. This is called capitalization. If a student chooses not to pay the interest as it accrues and allows it to be capitalized, this will increase the total amount that must be repaid because interest will be charged on a higher principal amount.
  • The student may receive both subsidized and unsubsidized loans for the same enrollment period depending on financial need; however the total amount of loans may not exceed the annual loan limit.

Parent Loans, PLUS

  • PLUS Loans are available to parents to help pay for the education of a dependent student who is enrolled at least half time and making satisfactory academic progress.
  • A completed FAFSA must be on file before the PLUS Loan can be processed.
  • The interest rate is variable not to exceed 9%.
  • Parents may borrow up to the total cost of attendance less aid awarded and other educational resources.
  • Parents are required to pass a credit check or demonstrate that extenuating circumstances exist.  If a parent is denied the PLUS Loan due to adverse credit, the student may contact the Financial Aid Office to see if additional funding is available.
  • Loan repayment begins 60 days after the loan is fully disbursed.
  • Click here to apply for a PLUS Loan through the Direct Loan Program.  You will need your FAFSA Personal Identification Number (PIN) to apply.

Federal Stafford Loan Process

  • Complete FAFSA.
  • Submit additional documents as requested.
  • Accept Award Offer on UCONNECT.
  • Lender sends loan funds to school.
  • School disburses loan funds to Bursar account balance.
  • Remaining funds issued to student via Higher One (Broncho Spirit Card).
  • Receive notification from Higher One when funds are available to student.

Entrance and Exit Loan Counseling

Entrance Counseling:

  • Students must complete an Entrance Counseling session before a student is given their first loan disbursement.
  • This session provides students with useful tips and tools to help develop a budget for managing educational expenses and helps students to understand their loan responsibilities. 

Exit Counseling:

  • For federal student loans, a student must complete Exit Counseling before leaving school to make sure he/she understands the rights and responsibilities of a student loan borrower.
  • Students are required to complete Exit Loan Counseling when he/she ceases to be enrolled at least half time, withdraws, or graduates from the University.

Private/Alternative Loans:

  • Private (sometimes called "alternative" student loans may be an important funding sources for students who are ineligible for federal student loans or who need more loan funds than the federal programs can supply.
  • The University of Central Oklahoma requires all students applying for private or alternative loans to complete a FAFSA and be considered for federal funding first.
  • To apply for a private loan click here to view the borrower benefits and to apply electronically: https://choice.fastproducts/org/FastChoice/home/315200/1
  • Students should allow a minimum of three weeks from the time the student requests the loan on the lender's website until loan proceeds are received by UCO.

Federal Perkins Loans:

  • Federal Perkins funds are awarded to eligible students as long as funds are available.
  • Due to limited funding, priority consideration will be given to students who have previously borrowed from this program while attending UCO.
  • The Federal Perkins Loan interest rate is 5%.
  • The grace period begins 9 months after the student graduates or ceases to be enrolled at least half-time.
  • Students that were offered and have accepted a Perkins Loan will receive notification of the new online process for completion of Perkins Entrance Loan Counseling and e-signing a Promissory Note.
  • For students to complete Perkins Exit Loan Counseling, please visit