Student Direct Loan Process
Loan Information and Application Process
Federal Direct Loan Application
In order to receive a Direct Student Loan, you must have completed the Free Application for Federal Student Aid (FAFSA). If you have not completed a FAFSA, go to http://www.fafsa.ed.gov to do so. If you have completed the FAFSA, you may proceed with the Federal Direct Loan Application Process as outlined below.
How Much Can I Borrow?
Maximum Loan Limits for Academic Year
|
1st Year (1-29 Hrs) |
Subsidized | Unsubsidized | Total |
| Dependent Student | $3,500 | $2,000 | $5,500 |
| Independent Student | $3,500 | $6,000 | $9,500 |
| 2nd Year (30+ Hrs) | Subsidized | Unsubsidized | Total |
| Dependent Student | $4,500 | $2,000 | $6,500 |
| Independent Student | $4,500 | $6.000 | $10,500 |
2012-13 Direct Student Loan Interest Rate Chart
Loan Process Deadlines
Deadline to Complete Direct Loan Process for 2012-2013
Fall 2012 - November 9, 2012
Spring 2013 - April 5, 2013
Summer 2013 - July 12, 2013
Deadline to Complete Direct Loan Process for 2013-2014
Fall 2013 - November 8, 2013
Spring 2014 - April 11, 2014
Summer 2014 - July 11, 2013
First Time Students Receiving Direct Loans
In accordance to Federal Student Aid regulations, if you are a first time student at OTC, your student loan disbursement will be delayed for a minimum of 30 days after the semester begins. Therefore, your student loan disbursement will not be included with the initial or first group of disbursements for the semester.
Federal Direct Student Loan - Required Hours
For fall or spring semester, at least 6 hours is required for student loan. For summer, attending at least 3 hours is required for a student loan. For summer, attending atleast 3 hours is required for a student loan. Not meeting this criteria could result in a loss of your Federal Direct Student Loan.
Federal Direct Student Loans - Multiple Disbursements
The Federal Direct Loan disbursements must be made in two equal installments as follows:
| Loan Period | Disbursements |
| Fall/Spring | one during Fall & one during Spring |
| Spring Only | two during spring (one occurring after mid-semester) |
| Summer Only | two during summer (one occuring after mid-semester) |
Summer 2013 Award Update Request
For more information about Summer 2013 aid, click here.
2013-14 Unsubsidized Federal Direct Loan
Fall 2013, Spring, 2014, Summer 2014
Unsubsidized Federal Direct Loans are not automatically awarded to students. If you are interested in receiving an unsubsidized loan, you must complete an Unsubsidized Federal Direct Loan Request.
You may cancel all aid or reduce your Unsubsidized Federal Direct Loan by clicking here.
Alternative and Federal Parent Plus Loans
Ozarks Technical Community College does not participate in any of the Alternative or Federal Plus Loan Programs. The Federal Direct Loan Program is the only student loan program which the college participates.
Note: If you apply for an alternative, private loan, you must apply for one that does not require school certification.
Direct Loan Link
Graduating Student-Student Loan Exit Counseling
Congratulations on completing your program of study at OTC. In order for you to understand your borrower obligations for student loans, you are required to complete a loan exit counseling session. This session is online and will only take a few minutes. All students graduating from OTC who have borrowed from the Federal Family Education Loan Program (FFEL) are required to complete a student loan exit counseling. Your diploma and transcript will be held until you have met this requirement.
Complete exit counseling as follows:
- Complete loan exit counseling online with the National Student Loan Data System.
- Once we receive confirmation of your completed exit counseling, your file will be updated in order to remove any account restrictions so your diploma and/or transcript can be released.