Can I qualify?
As the student, you’ll be the primary borrower. To qualify for a Private Student Loan*, you must be:
- Enrolled at least half-time
- Older than 18
- A U.S. citizen, U.S. national, or eligible non-citizen
Do I need a co-signer?
You can skip the cosigner if you have at least:
- Five years of credit history (besides student loans)
- 660+ credit score
- At least $18,000 annual income
- 45% or less debt-to-income ratio
Where can I use it?
Maybe you’ve had your school picked out since you were five. Maybe you’re still thinking about it. Either way, you can use your Private Student Loan to fund an undergrad or graduate degree at a nonprofit, four-year public or private higher education institution. Sorry, no two-year, trade, or certificate programs.
You can borrow anywhere from $1,000 and $15,000 annually, and up to $50,000 from OCCU over your entire education career. We won’t charge you any loan origination or repayment fees. Once the loan enters repayment, we’ll even throw in a 0.25% Annual Percentage Rate (APR) rate reduction with automatic payments.**
How it works
We send the money to your school. They apply it toward your tuition and refund you any extra. You can spend the rest on school-related expenses like housing, books or fees. Once we make the disbursement, your loan starts accruing interest.
Paying it back
You can take up to 10 years to pay back your loan once you are no longer in school. You don’t need to make payments while you’re in school, but your loan will still accrue interest. Our standard, interest-only, and fully deferred loans even give you an extra six-month grace period.