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Graduate Loan

Home Graduate Loan
Low interest rates icon
3.99% to 9.67% APR1

Competitive Interest Rates

With our competitive, fixed interest rates, you never need to worry about your interest rate going up!

Your interest rate will be determined after you apply, based on your credit history and other factors:

  • Credit score
  • Co-signer credit history (if applicable)
  • Loan term
  • Repayment plan

We will let you know what rate you qualify for if you are approved.

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Examples of rates and repayment terms

Interest Rate Rewards

With our great interest rate rewards, you could save a total of 0.75% (0.50% Graduation and 0.25% Direct Debit interest rate rewards) off your fixed interest rate!

Lower Interest Rate for Graduating

We are invested in your future and with that comes a 0.50% interest rate reduction for graduating!

Save Time and Money with Direct Debit!

Direct Debit is a free service that sets up an electronic deduction from your checking or savings account each month. You will qualify for a 0.25% interest rate reduction upon Direct Debit approval.

Program Overview

Loan Information

Helping you cover the costs of college is exactly why OK HELP was established.

  • Borrow up to 100% certified cost of attendance (tuition, fees, room, board, books, etc.) up to the aggregate limit of $300,000 for undergraduate and graduate loans combined
  • Minimum loan amount: $1,500
  • No pre-payment penalty
  • No origination or application fees

Loan Eligibility

OK HELP is a loan designed specifically for students enrolled or plan to be enrolled in a degree, certificate, or diploma granting program and is meant for:

  • OK residents attending an
    approved school

    Approved School

    Federally-approved educational institution under Title IV of the Higher Education Act of 1965
    in or out of OK
  • Students from Texas attending an approved OK school
  • All borrowers must be citizens or permanent residents of the United States
  • Students regardless of enrollment status, including those enrolled less than half-time2

Payment and Terms

  • The minimum monthly payment for an OK HELP Graduate Loan is $50.00 a month unless you select the Interest Only or Partial Interest Payment repayment plans.
  • You have the option to choose between three terms3 to make repayment fit your needs:
    • 5 years4
    • 10 years4
    • 15 years

NOTE: The longer your term, the more interest you could pay over the life of the loan.

Examples of rates and repayment terms

Explore

Repayment Plans Options

Immediate Repayment

If you want to get a head start on repaying your loan right away, this is the option to choose since you will:

  • Be eligible for the lowest interest rate available
  • Pay your loan off earlier by making principal and interest payments while in school
  • Pay the least amount of interest over the life of the loan compared to the other repayment plan options
NOTE: Your first payment will be due within 30 to 60 days after the date of your final
disbursement

Disbursement

Disbursement is the transfer of loan funds from a lender to the school.
.
For less than half-time students, Immediate Repayment is the only repayment plan option.

Interest Only

If you want to avoid
interest capitalization

Interest Capitalization

Capitalization is the addition of unpaid interest to the principal balance of a loan. Capitalization of interest results in a higher principal balance and additional finance charges over the course of repayment and may cause your monthly amount to increase.
this is the repayment option for you since you will:
  • Be responsible to pay the accrued interest during school
  • Enter repayment with the starting principal balance of the original amount you borrowed
NOTE: Interest payments will begin 30 to 60 days after the loan’s first disbursement. Full payments, which include payments made toward principal and interest, will not begin until 30 to 60 days after the expiration of your
grace period

Grace Period

A grace period is a 6-month period before the first payment on a loan is due. The grace period begins the day after you graduate, leave school, or drop below half-time status and ends the day before repayment begins.
.

Partial Interest Payment

To get a head start on paying the interest that accrues on your loan, this is a great option for you since you will:

  • Be required to pay a fixed $25.00 a month payment5 that is applied toward your loan while you are in school
  • Have less interest capitalize when you enter repayment

NOTE: Payments will begin 30 to 60 days after the loan’s first disbursement. Full payments, payments made toward principal and interest, will not begin until after the expiration of your grace period.

Full Deferral

If you don’t want to worry about making payments until you leave school, this option is available to you! With this option you will not have to make payments while in school; however, you will end up paying the most amount of money over the life of the loan compared to the other repayment plan options.

NOTE: Payments will not be due until after you separate from school and any applicable grace period has expired.

Four Easy Steps

Application Process Made Easy

1
First

Check your eligibility

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2
Second

Create an account

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3
Third

Tell us about yourself or co-signer

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4
Fourth

Submit your application

Helpful Tips

Here is what you need to have ready when filling out your application:

  • Name, address, and telephone number
  • Date of birth and Social Security number
  • Email address
  • Name and location of the school you plan on attending
  • Annual income
  • Grade level and anticipated graduation date
  • Academic period for which you would like to receive the loan
  • Mobile phone to receive one-time passcode for electronic signature
  • Co-signer's name and email address (if applicable)
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Add a Co-signer

The OK HELP Loan Program is credit based, so many students will need to secure a qualified co-signer for approval. Plus, by adding a co-signer, you may get a better interest rate!

Co-signer Information

The OK HELP Loan Program does not require you to have a
co-signer

Co-signer

A co-signer is a person who accepts equal responsibility for the repayment of the loan.
unless you have not met the
age of majority

Age of Majority

The age a person is considered an adult.
based on the law of your state of residence or you do not meet the minimum credit requirement; however, you may benefit from a
creditworthy

Creditworthy

Having a satisfactory credit rating.
co-signer. Having a co-signer may increase your chances that the loan will be approved and, perhaps, may get you a better interest rate.

OK HELP allows for co-signers to be released from their responsibilities after meeting certain requirements.
Co-signer release requirements include:
  • Making 48 consecutive on-time payments of principal and interest while in repayment, excluding deferment and forbearance time
    • Payments are considered on-time if they are received no later than 15 days after the due date
    • A lump sum payment counts as one qualifying payment
  • Upon completion of making 48 consecutive on-time payments, the borrower must provide proof of income, as well as pass a debt-to-income calculation and credit check
  • Must be in repayment making your full billed monthly payment amount
  • The use of any deferment or forbearance will not count toward the co-signer release payment counter. The payment counter will resume once the deferment or forbearance ends
If you would like to apply for this benefit or have questions, please contact the servicer of the loan, American Education Services (AES) at 1-800-233-0557 Monday to Friday, 7:30 AM to 9:00 PM (ET).
NOTE: Both the borrower and any co-signer remain responsible for the student loan account until the co-signer release request is approved, if applicable.
Once the co-signer is released, they will no longer be held responsible for the repayment of the loan. This responsibility will remain solely with the original borrower of the loan.

Still Have Questions?

Visit the OK HELP’s Graduate Loan frequently asked questions for more information.

See Questions

1 Annual Percentage Rate (APR) Calculations: The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan and a repayment term of 60 months, monthly payments of $184.26 and a final payment $176.13, a fixed periodic interest rate of 4.27%, and total payments of $11,047.21. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period and a 0.50% Graduation benefit was applied 47 months into repayment.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected Partial Payment and a repayment term of 180 months, monthly payments of $143.62, a fixed periodic interest rate of 10.28%, and total payments of $27,152.06. The borrower received an in-school deferment of 46 months and a grace period of 6 months. The borrower in this sample did not qualify for any interest rate discounts.

These APRs are estimates and may differ from the actual rate received.

2 Loans taken for a less than half-time academic period may borrow up to $5,000.

3 Partial Interest Payment: After the in-school and grace periods, any unpaid interest will be repaid along with principal. For example, a borrower of a $10,000.00 loan will pay $25.00 per month for 52 months (46 months in school and 6 months in grace). Following that time period, if that borrower selected a 10-year repayment plan and received a periodic interest rate of 7.18%, the borrower would have an APR of 6.51%, monthly payments of $133.70 for 120 months, and a total amount repaid of $17,343.40. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period and a 0.50% graduation benefit applied at the end of the 52-month partial interest period.

4 Loans taken for less than half-time are only eligible for a 5- and 10-year repayment term.

5 Repayment Terms (No interest rate discounts were applied to these examples.):

  • A borrower of a $10,000 loan who selects a 5-year (60 months) repayment term may receive an APR between 4.26% and 8.57%, monthly principal and interest payments between $185.39 and $265.81, and a total amount repaid between $11,123.17 and $17,248.36.
  • A borrower of a $10,000 loan who selects a 10-year (120 months) repayment term may receive an APR between 5.77% and 9.10%, monthly principal and interest payments between $109.92 and $127.38, and a total amount repaid between $13,190.27 and $19,241.98.
  • A borrower of a $10,000 loan who selects a 15-year (180 months) repayment term may receive an APR between 6.26% and 9.67%, monthly principal and interest payments between $85.91 and $143.62, and a total amount repaid between $15,463.06 and $27,152.06.

Please note these APRs are estimates and may differ from the actual rates received.

NOTE: Subject to aggregate loan limits.

OK HELP is a credit-based loan program. Applicants, including co-signers, are subject to credit qualifications, completion of an application and credit agreement, and verification of application information. OSLA uses applicants FICO scores to determine eligibility and interest rates. Higher credit scores may mean an applicant is offered a lower interest rate.

OSLA reserves the right to discontinue all programs or benefits without prior notice.