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FUN 14-15 Request for Unsub Direct Loan
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Notice of Understanding for Requesting an
In order to request an Unsubsidized Student Loan for 2014-2015,
Have a valid 2014-2015 FAFSA on file at OTC.
Submit all requirements, including a valid FAFSA, loan entrance counseling and Master Promissory Note (MPN) by the current term deadline, which is available on the OTC website.
Maintain Satisfactory Academic Progress as defined by college policy.
Be enrolled and attending a minimum of six eligible credit hours during the fall and/or spring term(s).
By requesting an Unsubsidized Student Loan for 2014-2015,
A loan disbursement will not be made if I am not attending a minimum of six eligible credit hours for the term.
My loan disbursement may be delayed until attendance begins in second block courses.
My loan eligibility is limited to the maximum amount available to me for the 2014-2015 award year. If I received loans at another school during the year, my loan eligibility may be limited.
I may reduce the amount of my student loan(s) with a Loan Reduction Form.
I will be given notice of my Right to Cancel any student loan before it disburses to my student account.
I understand the Unsubsidized Student Loan accrues interest while I am in-school, and I am responsible for the amount borrowed plus associated fees and interest applied to the loan.
It is my responsibility to cancel any unwanted loan funds by the deadline provided in the Right to Cancel.
Application for a student loan does not guarantee a loan award.
I have read and understand the above information. I want an Unsubsidized Student Loan for 2014-2015: INITIAL HERE
OTC ID Number: (If OTC ID number is unknown, see "What's My Username?" in the MyOTC portal.)