ORU Integrity Loan Program

The ORU Integrity Loan Program

Oral Roberts University offers the Integrity Loan Program which is an institutional loan available to students who require financial assistance from sources other than the Federal government’s need-based programs in order to help meet college costs. On this page is a summary of the eligibility requirements for the Program. Complete loan terms are contained in the Promissory Note that students must complete prior to disbursement of loan funds.

Instructions & Loan Eligibility Overview

• Students do not have to be a U.S. citizen or a U.S. permanent resident to be eligible for the Program. 
• Parent signature is required only if the student is below the age of majority at the time of the application. 
• Students who are citizens of the United States must have a completed FAFSA (Free Application for Federal Student Aid) on file to apply to receive loans under the Program. 
• Eligible students must be a residential on-campus student and enrolled full-time (at least twelve credit hours) in an undergraduate program. 
• Students with at least nine college credit hours must have a 2.0 cumulative GPA or greater at the time of initial application.
• Students with less than nine college credit hours are eligible to receive distributions from the Program for one semester.
• The student must maintain a 2.5 GPA in the semester for which the loan was made in order to be considered for any additional distributions under the Program. 
• The Program provides loans only for Fall/Spring semester. 
• Students may receive loans under the Program in addition to need based financial aid.
• ORU is committed to non-discrimination regardless of race, color, national origin, age, religion, creed, disability or sexual orientation in its student loan lending practices, provided however, ORU is exempt from Title IX and other applicable laws and regulations to the extent that the application of such laws would be inconsistent with ORU's religious tenets and/or beliefs.
• Loans are reported monthly to the three (3) national credit bureaus (Equifax, Experian and TransUnion).

Award and Disbursement Process

Once the application for participation in the Program is received, ORU will review the application and determine the value of the loan award, if any. The student will be responsible for monitoring their loan through their Vision account. The student will be required to complete a Promissory Note and Self Certification Forms with Heartland ECSI for each loan, which they will be prompted to do on their Vision account after accepting their loan.

Loan Information

Students may borrow up to $6,000 for the requested academic year at a six and nine-tenths percent (6.90%) fixed annual interest rate. Interest shall accrue from the date funds are disbursed (or the date the student’s right to cancel the loan expires, whichever is later) and will continue to accrue until the loan is paid in full (which includes the period of time the student is in school). A monthly payment equal to the lesser of interest accrued or twenty-five dollars will be required to be paid by the 5th day of every calendar month during which the student has a loan balance outstanding. If the 5th day of the month falls on a weekend or holiday, the monthly loan payment is due on the first business day after the weekend or holiday. The loan will be amortized over a ten-year period.

If ORU makes the Program available in subsequent academic years, students may apply for additional loans.  The total lifetime borrowing under the Program for any student is $20,000.  The proceeds from the Program may be used for tuition, fees, room, and board at ORU while the borrower is attending ORU. The Program does not require a credit check or a cosigner. Parent signature will be required only if the student is below the age of majority at the time of application (21 for residents of Mississippi and Puerto Rico, 19 for residents of Alabama and Nebraska, 18 for all others).

Loan Terms

• Annual Maximum: $6,000
• Lifetime Loan Aggregate: $20,000
• Interest Rate: 6.9% fixed
• Interest Accrual: Monthly
• Term: 10 year amortization
• Monthly payment during enrollment and grace period: the lesser of accrued interest or $25
• Grace period: 6 months after graduation or last date of enrollment at ORU
• Monthly payment after grace period:  120 equal monthly payments of principal and interest

Checklist prior to requesting Integrity Loan

• Submit your FAFSA for the aid year you are applying to the loan, if applicable.
• Complete your financial aid file, including all requested Verification requirements.
• Review and respond to your Financial Aid package on Vision.
• Accept/Decline all awarded student loan assistance.
• Read the above eligibility criteria and verify you are eligible to apply for the loan.

How to request the ORU Integrity Loan

To request the Integrity Loan Application, please contact the ORU Financial Aid Office. Once contacted you will have an initial screening and if you meet the eligibility requirements you will have the Integrity Loan Application posted to your Vision account where you can complete it online.  Once submitted, your application will go for review. You will be contacted once the review process is complete with the final outcome of your application. 

ORAL ROBERTS UNIVERSITY
FINANCIAL AID OFFICE
7777 S Lewis Ave
Tulsa, Oklahoma 74171
Phone: 918.495.6510
Fax: 918.495.6803
Email: ORUFinaid@oru.edu