The Perkins Loan provides the most favorable interest rate and repayment options of any federal student loan. Oklahoma Christian University oversees and disburses this federal loan. The Perkins Loan is currently a needs-based 5% fixed interest loan. Repayment begins nine months after the student ceases to be enrolled at least half-time. The award amount is based on the family’s need as determined by the government.
Because Oklahoma Christian has a limited amount of Perkins loan to award, it is usually only awarded to freshmen and sophomore students who are not eligible to receive as much Stafford loan as upperclassmen. Furthermore, OC typically awards Perkins to students who demonstrate a high level of financial need but are not eligible to receive federal grants.
The maximum Perkins loan is $4000/year. Most OC freshmen are awarded $3000 while sophomores are awarded $1500.
If you are a first-time Oklahoma Christian borrower, you must complete a loan entrance interview (LEI) and a master promissory note (MPN) before loans will be disbursed to your student account.
After printing and completing the Perkins Loan MPN, please send the completed application to:
Oklahoma Christian University
Student Financial Services Office
Box 11000
Oklahoma City, OK 73136-1100