Loan Application Process
You must do the following to receive a student loan at College of the Ouachitas.
- You must complete the Free Application for Federal Student Aid (FAFSA), and submit it to the Student Aid Processing Center. This will determine the type of loan you are eligible for.
- You must complete a loan application worksheet which is available in the Financial Aid Office or you may download the form here. Please view the loan requirements on the loan application worksheet.
- If this is your first loan, you must complete an entrance counseling interview. Visit the Entrance and Exit Counseling page.
- You must be admitted to the college and be enrolled in at least six credit hours. All loans are disbursed in two payments. If your loan is for an academic year, you will receive one payment in the Fall semester and one payment in the Spring semester. If your loan is for one semester, the second payment will be at the middle of the term. If you withdraw before the 2nd disbursement, the 2nd disbursement will be cancelled.
After the school certifies your loan request to the lender, you must fill out a master promissory note (MPN) to receive the loan. You will be notified by mail when your loan request is complete and ready for you to go to the website and sign the note. Go to the following link to sign your MPN. Use this link ONLY after the loan has been approved by the Financial Aid Office. https://studentloans.gov To fill out the MPN, you will use your federal student aid pin number and password.
Types of Student Loans
Information About Direct Student Loans
Entrance and Exit Counseling
Forms
(U. S. Department of Education Code #: 009976)