MAKE COLLEGE A REALITY

Oklahoma Central Credit Union Student Loan Program

Your Education is Central to Us
Lender Code: 833760

"Education is the key to unlock the golden door of freedom."
George Washington Carver

How To Achieve Your Dreams!

Learn about the student loans from Oklahoma Central Credit Union

You know the value of a college education.

Getting a college degree is a worthwhile goal. College graduates make an average of one million dollars more, throughout their lifetime, than those without college degrees (www.studentloanfacts.org). But the cost of a college education can be overwhelming for both students and parents. That's why Oklahoma Central Credit Union has partnered with Great Lakes to offer Federal Family Education Loan Program (FFELP) loans. If you or another family member plans to attend a university, technical college, or any specialized training program, Oklahoma Central Credit Union can help you with the funding you need to pursue your dreams.

FFELP offers loans for students and parents.

• Stafford Loans
  • The subsidized Federal Stafford Loan is based on financial need. The government pays the interest while you are in school.
  • The unsubsidized Federal Stafford Loan is not based on need but family income is a determining factor. You pay all the interest, although you can have the payments deferred until after graduation.
• Parent PLUS/Grad PLUS Loans

Creditworthy parents of dependent undergraduate students and graduate/professional students can apply for this loan, which is not based on need.

Learn more about low-interest federal student loans.

Refer to the Student Loan Quick Reference Guide for more details on Stafford and PLUS Loans including:

• the application process
• current rates
• loan limits
• toll-free numbers to check the status of your loan account

Manage your finances.

Oklahoma Central Credit Union and Great Lakes are committed to helping students learn to manage their finances. The regularly updated Personal Financial Management Resources provides information on anticipating college costs and staying in control of your finances while in school.

Plan your future. Visit these Web sites.

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Student Loan Applications

Get the forms that you'll need to help you achieve your Dreams

Oklahoma Central Credit Union
PO Box 471227
Tulsa, OK 74147
Lender Code: 833760

Here's how to obtain a federal student loan

1. Complete a FAFSA

Before you begin applying for a Stafford and/or PLUS Loan, you must first complete the Free Application for Federal Student Aid (FAFSA). It must be completed for each academic year that you request federal aid. FAFSAs for the upcoming academic year are available online on or after January 2. Contact your school for their application deadline.

www.fafsa.ed.gov - The Online application for financial aid (FAFSA).
www.pin.ed.gov - Apply for a PIN number to complete online FAFSA.

2. Receive your SAR

Once your FAFSA is processed, a Student Aid Report (SAR) is created. If you completed your FAFSA online, allow 1-2 weeks for you and your school to receive the SAR electronically. Paper FAFSAs take 6-8 weeks to process.

3. Receive your Award Letter

Your school(s) use data from your SAR to determine your financial aid award for the current academic year and send you an award letter by e-mail or US Mail. (If your letter mentions the William D. Ford Direct Lending Program, contact your school for the appropriate promissory note.)

4. Complete a Master Promissory Note

Apply fast and easy on-line and receive answers to frequently asked questions.

Apply Now for a Federal Stafford Loan

Apply Now for a Federal PLUS (Parent) Loan

Apply Now for a Federal Graduate/Professional PLUS Loan

While you must complete the FASFA process to apply for aid each academic year, this Master Promissory Note will be used to process all of your loans over multiple academic years at the same school.

5. Your School will Receive the Funds

Stafford, Parent PLUS and GradPLUS Loans are guaranteed and serviced by Great Lakes. When Great Lakes receives your Master Promissory Note and School Certification Form from the school indicating the loan amount and disbursement dates, funds will be sent to the school.

6. Access Your Loan Account Online

You can check the status of your loan, view your account information and make payments from your bank account 24/7 at www.mygreatlakes.org. Choose "Borrowers" and then log in to access Internet Borrower Inquiry Service. This site offers a variety of tools for calculating the cost of your loan. It's your resource to forms, a glossary of financial aid terms, contact information, and lots of other information to help you manage your loans.

7. Call These Toll-free Numbers for Loan Inquiries


• Contact BEFORE your loan is disbursed to the school:

Great Lakes at 1-800-247-0462

• Contact AFTER your loan is disbursed to the school:

Great Lakes at 1-800-236-4300

After graduation, consider consolidating your student loans.

If you are considering consolidating your student loans, please contact a Consolidation Representative at Great Lakes by calling 1-800-950-0152 for additional counseling.