STUDENT LOANS
Student loan application process:
Credit Check is to be completed in order for application process to begin:
**Credit check is paid for by applicant, $33
for borrower & co-borrower**
Complete and return credit application for borrower and co-borrower to
Oklahoma State Horseshoeing School (Requires $33 for credit check)
PLEASE INCLUDE COPIES OF CURRENT DRIVERS LICENSE & SOCIAL SECURITY
CARD
Student costs due before class starts
Credit Check Fee - $33
Application Fee - $250 (Due after notification of approval on credit check)
Student Tools - $900
Loan Costs
Principal Loan - $4600
Interest Rate - 10%
Total loan with interest - $5060
Monthly Principal Payment - $150
Monthly Interest - $15
Total Monthly Payment - $165
Payment Information
Payments are to begin no later than 90 days from last
date of attendance. Payments are scheduled to be paid monthly for 30 months at $165
(includes monthly interest) with the 31st (final payment) of $110 being the remaining
principal balance and interest. If loan is paid in full within 6 months from last date of
attendance any accrued interest will be deducted from final payment, however if not paid
in full within the first 6 months from last day of attendance, interest will be applied to
the balance beginning from last day of attendance. Interest will not be applied to the
sustaining balance that is paid off early.
Upon approval of credit, a promissory note will be
sent to applicant to be filled out and notarized and mailed back to Oklahoma State
horseshoeing School