As of October 1, 2013, the government sequester required the increase of the origination fees charged to a Direct Loan borrower. This increase is in addition to the increases implemented in the last academic year.
Thankfully, the government will only increase the origination fees on new loans that will disburse after December 1, 2013. Please let me clarify this:
The new loan fees will increase as follows:
Direct Subsidized and Unsubsidized Loans: from 1.051% to 1.0725%. This is an increase of about .67 cents per hundred dollars borrowed.
Direct Graduate and Parent PLUS Loans: from 4.204% to 4.288%. This is an increase of about .08 cents per hundred dollars borrowed.
The increased loan fee percentages must be applied to any loan disbursement for a loan where the first disbursement will be made on or after December 1, 2013. This includes loans that will be made for only the Spring Semester.
Important public service loan forgiveness announcement.
Because we offer you an education like no other, Oklahoma City University does all we can to help you cover your costs. We're all about helping both undergraduate and graduate students become who they want to be.
That's why we do all we can to ease your mind about expenses, so you can focus on choosing a college based on the most important issue – what it offers you academically – not based on what it costs.
You'll find our commitment to student success in the numbers: We award more than $34 million annually in academic merit scholarships or performance scholarships; awards range from $1,000 to $10,000. Oklahoma City University works hard to put together a financial aid package that meets your needs. More than 90 percent of our students are awarded financial aid!
Both The National Review College Guide and The Student Guide to America's 100 Best College Buys have recognized Oklahoma City University's academic excellence and affordability. Our financial aid counselors are a group of caring people who work closely with students and their parents to create personalized financial aid packages. Contact our office for more information.