Grants and loans can go a long way to help you achieve your educational goals. OJC offers Federal Stafford Loans through the Federal Family Educational Loan (FFEL) program. Our new loan process is through ELM instead of student loan online.
Follow the steps below to start your loan application process today:
Eligibility Requirements:
1. The Free Application for Federal Student Aid (FAFSA) must be completed. NOTE: The school code for OJC is # 001362, you will need this for your FAFSA application.
2. All requested or required documents must be submitted to OJC Student Services.
3. Your financial aid file must be reviewed and you have an offer of a Student Loan by Award Notification or by reviewing your Self Service Banner Account.
4. You must be enrolled in a financial aid eligible degree and/or certificate program.
5. You must be attending 6 or more credit hours.
6. You must be making Satisfactory Academic Progress in accordance with OJC's financial aid policy.
Otero Junior College has now joined the Federal Direct Loan Program. Follow the steps below to begin the loan application process:
1. Entrance Counseling: If you are a first time borrower or switching to Direct Lending you must complete Entrance Counseling before you can receive any loan funds. Go to www.dl.ed.gov and look for the link to Entrance and Exit Counseling on the top right hand side of the page. After you have completed your Entrance Counseling, OJC Financial Aid Office will be notified.
2. Completing Master Promissory Note: All students using Direct Lending must complete a new Master Promissory Note; please visit www.dlenote.ed.gov, where you will click on “Complete New MPN for Student Loans”. OJC Financial Aid Office will receive notification once you have completed this process.
3. Accept Loan Offer: All loan borrowers must fill out a Loan Acceptance Form to request up to the base amount of loan you wish to borrow. Download the form Loan Acceptance Form here or copies are available in the Financial Aid Office. Please submit completed form to the OJC Financial Aid Office for further processing.
**Note for Parent Borrowers: "Eligibility Requirements" must be met by your student before we are able to process a Parent Loan for Undergraduate Students (PLUS).
The Direct PLUS Loan is available to parents of dependent students who wish to borrow funds to assist with their child’s education. Parent loan borrowers must fill out the Federal Direct PLUS Loan Application: PLUS Loan Application. Parents must complete the Entrance Counseling www.dl.ed.gov and Master Promissory Note www.dlenote.ed.gov before submitting the Federal Direct PLUS Loan Application to the Financial Aid Office.
EXIT COUNSELING
*** Note Loans must be repaid after you graduate, leave school or fail to enroll in at least 6 semester credit hours. All students who borrow student loans must complete exit counseling when they graduate or stop attending the school, for which the loans were borrowed, on at least a half-time basis.
If you received your loan from a lender, go online and complete an exit interview at http://mappingyour future.org/oslc/. If you received your loan from the Direct Loan Program you are required to go online to www.dl.ed.gov and complete an exit interview. If you received a loan from both programs, you are required to complete both exit interviews. Upon completion, our office will receive an electronic confirmation the following day.
