Institutional Loans

Occidental Low Interest Loan

This loan is administered by the College using institutional funds. If you are eligible for this loan, it will appear on your award letter.

Minimum repayment is $40 per month including 5% interest that begins to accrue nine months after the date the borrower ceases to be enrolled at least half-time and ends 10 years later. The repayment period may be extended during periods of in-school deferment, hardship, or forbearance.

Occidental No Interest Loan 

This loan was originally funded by the Weingart Foundation. This generous, interest‑free, program was established to benefit U.S. citizens who are graduates of California high schools. Loans under this program are interest-free for the life of the loan, if a student does not miss two or more consecutive payments. If a student misses payments or defaults, interest will accrue at 5% per year. There are no processing or application fees. These loans also may be offered to students whose families may not qualify for need-based aid, based on special circumstances and fund availability.

This loan must be repaid in monthly installments over a period of 10 years, beginning six months after a student leaves the campus. The minimum monthly payment is $50. The actual repayment amount, however, is determined by the total amount borrowed.

If an institutional loan is listed on your award letter and you are a first-time borrower, you will receive an e-mail with instructions on how to complete your Master Promissory Note, Online Entrance Counseling, and Truth in Lending (TILA) Documents through Student Business Services.