How do I apply for the loan?
Pick up an application from any of Coos Bay High Schools or download one here. Return the completed form, along with the official transcripts from high school or equivalent, and all colleges attended to:
Coos Bay Student Loan Fund, Inc.
PO Box 714
Coos Bay, OR 97420
The completed form must be legible and signed by the applicant and the co-signers. Once you apply for an academic year or for a portion of it, you need only update us to your status to continue requesting funds. Transcripts should be provided at least once a year. Requests for additional funds should be in writing, either email or by mail. A current online credit report score sheet for yourself and co-signers must be submitted along with your application.
All completed applications will be reviewed by the board three times a year, or as otherwise deemed necessary by the board. Decisions will be made within one month.
Who should be my cosigners and references?
Co-signers should be your parents, guardians, or other responsible adult family members. You are required to have two co-signers, preferably not in the same household. The co-signers agree to repay the loan if you do not. Contacts should be established adult relatives or family friends who will always know your location. Local residents are preferred.
How do I receive the loan?
After your completed application form and transcripts are received, you will be contacted to schedule a personal interview with the board’s Loan Committee. The total time for processing the loan varies, depending upon the availability of funds and the time of the year. You should plan on 2 to 4 weeks.
When do I repay the loan?
Principal and interest are due and payable in installments beginning no later than six months after you graduate or after you leave school or drop to less than full-time enrollment. At that time, you must repay at least $1,200 a year, set up on monthly installments of at least $100 per month. You will receive a quarterly statement at your home address.