Student Loans

Applications and information for Federal student Loans:

To be considered for a Federal Student Loan, you must first complete the Free Application for Federal Student Aid (FAFSA) at studentaid.gov.

Subsidized and Unsubsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school and you must be enrolled in at least 6 credits per quarter. For these loans, the student is the borrower and will be required to make all necessary repayments.

To apply for a Federal Student Loan please visit our forms page. 

Federal regulations require you to complete Entrance Counseling only once while attending Olympic College. The Master Promissory Note (MPN) is valid for up to 10 years, unless a new one is needed due to changes in your loan status or enrollment.

Federal student loans are disbursed once per quarter, provided you meet all eligibility requirements at the time of disbursement.

You must maintain Satisfactory Academic Progress (SAP) as defined by Olympic College to remain eligible for federal student aid, including loans.

Interest on Unsubsidized Loans begins accruing as soon as the loan is disbursed. Repayment for most federal loans begins six months after you graduate, leave school, or drop below half-time enrollment (less than 6 credits).

*Please note: Only college-level courses (numbered 100 or above) count toward the credit requirement for loan grade level progression.

**Students graduating in less than three quarters will have their loans prorated and split, as required by the U.S. Department of Education. 

Applications and information for the Parent PLUS Loans:

Parent PLUS Loans are federal loans available to parents of dependent undergraduate students to help cover education costs not met by other financial aid. Eligibility is not based on financial need, but a credit check is required. Parents with adverse credit history may still qualify by meeting additional conditions.

The parent is the borrower and is fully responsible for repaying the loan.

To apply for a Direct PLUS Loan, complete the following steps:

1. Complete your FAFSA for current aid year.

2. Complete the Parent Plus Application process https://studentaid.gov/plus-app/

3. Work with the Cashier's office after the loan is awarded to set the preference of how funds are disbursed. 

Private Education Loans (Student and Co-Signer)

Click for more information on the difference between private loans and direct federal loans

If you need a private loan, Olympic College partners with ElmSelect, an easy-to-use online tool that helps you compare lenders who work with Olympic College students.

With ElmSelect, you can:

• Compare lenders side by side

• Apply directly through each lender’s website

• Choose a trusted option since all lenders listed have been reviewed and verified

Olympic College Lender Policy

Olympic College is not affiliated with any lender and has no contractual arrangements with any loan providers.
You are free to choose any lender that offers private education loans. The lenders shown on ElmSelect are provided for your convenience only. Private loans are credit-based and typically require a co-signer.