Loans
Loans are another type of financial aid. Educational loans must be repaid. Payments do not begin until the student finishes school. Failure to repay a student loan can ruin a person's credit rating and make finances much more difficult in the future.
NOTE: Ozarka participates in the Federal Family Educational Loan Program (FFELP). There are two types of Stafford Loans - Subsidized (need based; government pays the interest while in school) and Unsubsidized {student pays or defers the interest (6.8% fixed rate) while in school}.
Borrowing limits are based on dependency status and year in school.
NOTE: Ozarka participates in the Federal Family Educational Loan Program (FFELP). There are two types of Stafford Loans - Subsidized (need based; government pays the interest while in school) and Unsubsidized {student pays or defers the interest (6.8% fixed rate) while in school}.
Borrowing limits are based on dependency status and year in school.