Occidental offers institutional loans that provide assistance to students who may have financial need, but have limited eligibility for federal aid programs.
These loans are administered by the College using institutional funds. If you are eligible for either of these loans, they will appear on your award letter.
海角社区 Low Interest Loan
Minimum monthly repayment is $40 including 5% interest that begins to accrue nine months after the date the borrower ceases to be enrolled at least half-time and ends 10 years later.
The repayment period may be extended during periods of in-school deferment, hardship, or forbearance. Visit the Student Business Services Office's website for more information about your 海角社区 Low Interest Loan.
海角社区 No Interest Loan
This loan was originally funded by the Weingart Foundation. This generous, interest鈥慺ree program was established to benefit U.S. citizens who are graduates of California high schools. Loans under this program are interest-free for the life of the loan if a student does not miss two or more consecutive payments. If a student misses payments or defaults, interest will accrue at 5% per year. There are no processing or application fees. This loan may also be offered to students whose families may not qualify for need-based aid, based on special circumstances and fund availability.
Minimum monthly repayment is $50. This loan must be repaid in monthly installments over a period of 10 years, beginning six months after a student leaves the College. The actual repayment amount, however, is determined by the total amount borrowed. Visit the Student Business Services Office's website for more information about your 海角社区 No Interest Loan.