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Federal Stafford Unsubsidized Loan:
- Loan for students who are independent, or parents have been denied for the Federal PLUS loan
- Grace Period is 6 months after no longer enrolled at least half-time or 6 credit hours
- As of July 1, 2008, the Federal Unsubsidized Stafford Loan Interest Rate is 6.8%
- Repayment begins at end of grace period
- The Unsubsidized Stafford loans accrues interest while the student is in school. The student can choose to pay the interest while he/she is in school.
- Up to $2000 additional Federal Unsubsidized Stafford Loan available to students whose parents are eligible for the PLUS loan.
- Or, if student is Independent or the PLUS loan is credit-denied, student may receive additional Federal Unsubsidized Stafford Loan in the amounts of:
- First-Year & Second-Year Undergraduate: Up to $6000
- Third, Fourth, & Fifth-Year Undergraduate: Up to $7000
How To Apply
- Fill out a FAFSA and be accepted to Oral Roberts University.
- An Award Notification will be sent to the student via e-mail; if eligible, the loan will be listed among the aid.
- Respond to the Award Notification by indicating “yes” to Federal Unsubsidized Stafford Loan through VISION.
- If a First time borrower, student must complete a Master Promissory Note and Entrance Interview online through VISION. These are good for all years the student consecutively borrows the Subsidized Stafford or Unsubsidized Stafford Loan from ORU.
- Students may choose from our recommended list or any lender they believe best meets their needs. NASFAA recommends these sites for analyzing, calculating and comparing loan products: www.finaid.org/calculators/loananalyzer.phtml or http://www.finaid.org/calculators/loandiscounts.phtml. Please contact the Financial Aid Office if you wish to select a lender that is not represented on our Recommended Lender List.
Mapping Your Future
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