Many students must borrow money to meet the costs of their college education. Loans can be extremely useful, but understanding their terms and conditions can be confusing. We have centralized loan information to help you find the answers to your questions about the loan process. If you cannot find what you need here, please contact the Office of Financial Aid.

The information in this section is intended for prospective students and for students who have never borrowed funds before.

Federal Stafford Loans

Most students who are U.S. citizens or permanent residents may participate in the Federal Stafford Loan program. If you received a notice of financial aid eligibility from Oberlin, it indicates whether you are eligible for a Federal Stafford Loan, either subsidized or unsubsidized.
Compare, Choose and Apply through ELMSelect

Federal Perkins Loans

The Perkins Loan is awarded to students with exceptional financial need. This is a campus-based loan program, with the school acting as the lender using a limited pool of funds provided by the federal government.
Read More

Federal PLUS Loans for Parents

Parents of dependent students may take out loans to supplement their child's aid package. The federal Parent Loan for Undergraduate Students (PLUS) lets parents borrow money to cover any costs not already covered by the student's financial aid package, up to the full cost of attendance.

Compare, Choose and Apply through ELMSelect

Supplemental Student Loans

Supplemental student loans help bridge the gap between the actual cost of your education and the limited amount the government allows you to borrow through its programs. Private loans are offered by private lenders and there are no federal forms to complete.
Compare, Choose and Apply through ELMSelect

Loan Information for Oberlin Graduates

The typical Oberlin graduate will accumulate $16,000 in student loans by the time of graduation. Standard monthly payment amounts and lender expectations can be projected now.
Read More

Important information regarding Oberlin's Preferred Lender List:

Oberlin's preferred lender list has been developed to help students and their families choose a loan provider.  Below, we have listed several factors that have been reviewed when creating our list:

• Reputable company that is financially sound and has longevity in the student loan industry

• Savings to Oberlin students on the total cost of their borrowing

• Superior level of customer service provided to Oberlin borrowers in previous years

• Wide variety of services and products available to borrowers

Please note Oberlin's Preferred Lender List is only a suggestion of potential loan providers.  Oberlin receives no compensation, income or in kind support from these lenders in return for being placed on our Preferred Lenders List.  Students and families are highly encouraged to select a lender that best suits their individual needs regardless of whether or not that lender appears on Oberlin's Preferred Lender List.