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Events
  • Otis Books is pleased to publish Tim Erickson’s debut collection of poetry, Egopolis, a textual journey through destruction, resistance, city, and the Ego, from ancient times to the present day. Erickson’s work has appeared in the Chicago Review, Western Humanities Review, and the Salt Anthology of New Writing. He lives in Salt Lake City.

  • Otis Graduate Writing students will read from their works-in-progress.

  • David Treuer is an Ojibwe Indian from Leech Lake Reservation in northern Minnesota and currently teaches at USC. He is the author of the novels Little, The Hiawatha, The Translation of Dr. Apelles, named a Best Book of the Year by the Washington Post, as well as a critical work, Native American Fiction: A User's Manual. In 2012, he published another nonfiction work, Rez Life.

  • Angela Flournoy’s first novel The Turner House was a Barnes & Noble Discover Great New Writers selection. Her fiction has appeared in The Paris Review, and she has written for The New Republic, The Los Angeles Review of Books and elsewhere. Flournoy has taught at the University of Iowa and Trinity Washington University. She lives in Los Angeles.

  • Susan Choi’s first novel, The Foreign Student, won the Asian-American Literary Award for fiction, and her second novel, American Woman, was a finalist for the 2004 Pulitzer Prize. Her most recent novel, A Person of Interest, was a finalist for the 2009 PEN/Faulkner Award. With David Remnick she co-edited the anthology Wonderful Town: New York Stories from The New Yorker. A recipient of fellowships from the NEA and the Guggenheim Foundation, and in 2010, the inaugural winner of the PEN/W.G. Sebald Award, Choi lives in Brooklyn.

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Private Loans

Private Loans are educational loans offered to students by private lending institutions (banks). These loans are for educational expenses only and should be used as a last resource, as they require a long-term committment to repay and typically high interest rates. Also failure to repay your private loans may result in serious consequences to your credit!
Please contact the Financial Aid Office if you have any questions regarding your decision to borrow a Private Student Loan.
 

STEPS TO PRIVATE LOANS:

1.    Take Federal Loans First
Make sure you take advantage of Federal loans and grants first! Federal Direct Loans offer fixed rates, please learn more about them HERE. Parents interested in borrowing on their child’s behalf should consider the advantages of the Parent PLUS Loan (fixed interest , forbearance options and possible tax benefits)

2.    Co-signer??
Most students do not qualify for private loans without a co-signer. Please review our Co-signer 101 section below to learn more about who to ask.

3.    Choose Your Lender
Review some of the lenders we work with on the OTIS FastChoice Tool. It’s up to you to be a well-informed consumer and choose the best lender for you.
Students have the right to select the education loan provider of their choice and are not required to use any of the current lenders listed in the OTIS FastChoice Tool.

4.    Submit your Application
If you choose one of the lenders listed in the OTIS FastChoice Tool, complete the application online. Follow your lender’s instructions and call them if you have questions.

5.    OTIS will Certify (no action on your part)
Once you have completed the application with your lender, they will send an electronic ‘certification request’ to Otis. The Otis Financial Aid Office will confirm your attendance and certify the amount you are eligible for (taking into account your COA and other financial aid).

6.    Check your Otis Self Service
Your financial aid amounts are always available for you to view online in your Otis Self Service.


COSIGNER 101
What is a “co-signer”?
A co-signer is a person who agrees to take on the responsibility for your private student loan debt, should you fail to repay.
Some lenders provide "co-signer release" options that will release your co-signer from responsibility once you are able to qualify for the loan on your own and make a certain number of on-time payments.

An ideal co-signer should have the following qualifications:
•    Four to five years of credit history
•    A majority of revolving credit remains unused (20% rule)
•    No serious derogatory items exist on their credit report
•    Steady employment with sufficient income


OTHER THINGS TO KEEP IN MIND

  • Interest rates on private loans can be fixed or variable. Variable rates can increase or decrease over time, depending on the market conditions and the lender
  • Loans must be repaid with interest
  • Check with your lender regarding repayment options as private loans are not eligible for Federal Loan Consolidation which helps to lower payments
  • Even if you qualify for a private loan on your own, consider having a credit worthy co-signer to get a lower interest rate
  • Use the loan calculator in the Otis FastChoice Tool to project what your payments will look like in the future (located at the bottom of the page)
  • Be sure to review our Overview of Private Loans for more information
  • Contact your lender or the Financial Aid Office if you have any questions