Institutional Loans
Occidental provides institutional loans to assist students who may have financial need but limited eligibility for federal programs. These loans are funded by the College and, if awarded, will appear on your financial aid offer.
The Oxy Low Interest Loan carries a 5% interest rate, with repayment beginning nine months after you leave Occidental or drop below half-time enrollment. Minimum repayment is $40 per month, with a maximum repayment period of 10 years. Deferment, forbearance, or hardship extensions may be available.
Originally established through the Weingart Foundation, the Oxy No Interest Loan program benefits U.S. citizens who graduated from California high schools. The loan is interest-free for the life of the loan, provided you make regular payments. Missing two or more consecutive payments results in 5% interest being charged. Repayment begins six months after leaving Occidental, with minimum monthly payments of $50 and up to 10 years to repay.
Private Student Loans
Private loans—sometimes called alternative loans—are offered by banks, credit unions, and other lenders to help supplement federal, state, or institutional aid. If you decide a private loan is right for you, you may choose any lender; we process all lenders with equal timeliness.
Each lender will have their own rates, fees, limits, borrower benefits and repayment terms options. Rates often depend on the borrower’s or co-signer’s credit history and other application criteria. Interest rates can be fixed or variable (changing with market conditions), so be sure to review what is being offered by your selected lender before accepting your loan.
FASTChoice is a tool that lets you compare private loan terms and rates side-by-side. It provides a clear overview before you begin the application and credit check process. Once you choose a lender, you’ll complete the application directly with them. You are not required to use a lender on this list and may select any eligible lender; we will process all certifications impartially.
Occidental does not endorse any specific lender or loan product. Information included in FASTChoice is provided directly by lenders and is subject to change. Students are responsible for confirming loan details with lenders.
Emergency Loans
If you’re facing an unexpected financial hardship, you may be eligible for a Dean’s Loan. These short-term loans are limited to $500 and must be repaid by the end of the semester in which they are borrowed.
To apply, contact the Dean of Students Office at (323) 259-2661 or stop by their office in Berkus Hall, Main Floor.
Parent Loans
The Federal Direct PLUS Loan helps parents of dependent students cover educational costs that aren’t met by other aid. Effective July 1, 2026, new PLUS Loan borrowers may apply for up to $20,000 per year with a lifetime limit of $65,000. To qualify, you must be creditworthy and meet general federal financial aid eligibility requirements.
How It Works
The interest rate for 2026–27 is fixed at 9.07% (set annually), and an origination fee is deducted each time funds are disbursed. Repayment usually begins 60 days after the final disbursement, but parents may defer payments while the student is enrolled at least half-time (interest still accrues).
How to Apply
Parents apply using their own FSA ID at studentaid.gov. The process includes completing an online PLUS Loan application and signing a Master Promissory Note (MPN) if borrowing for the first time. Applications are typically processed within 48 hours.
Once your application is reviewed, you’ll either be approved or denied. If approved, your student’s financial aid portal will be updated to reflect the loan. If denied, you may be offered the opportunity to borrow with an endorser.
All federal loans, including PLUS Loans, are recorded in the National Student Loan Data System (NSLDS). You can view loan details and servicing information at studentaid.gov.