Student Loan Update

April 30, 2008

Occidental College is well aware of the current difficulties facing the student loan market related to the credit crunch. We are following the developments closely, and in response we are pleased to announce that at its most recent meeting, the Board of Trustees has approved the use of a portion of the College's endowment resources to fund all Stafford and PLUS loans for the 2008-2009 school year if the market conditions should worsen and student loans are not available through traditional lenders.

Rest assured, no student or parent who would otherwise qualify for a Stafford or PLUS loan will be denied such funds due to the conditions in the financial markets. Occidental is committed to providing a high-quality education and will honor all financial aid awards it makes for the coming year.