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Loans

Loans

Carl Albert State College does not automatically offer or accept student loans. Federal Direct Student Loans (Subsidized, Unsubsidized, and Parent PLUS Loans) are available for eligible students upon request. To request a loan, students must login to their myCarlAlbert to request a loan. If our office determines that you are eligible for a student loan, you will receive an emailed offer letter with the amount you can borrow.

Note: You must be enrolled in at least 6 credit hours each semester to be eligible for a student loan.

Freshman (0-30 hours)

Base Amount (Sub or Unsub)Additional Amount (Unsub Only)Max Loan Amount
Dependent Student$3,500$2,000$5,500
Independent Student$3,500$6,000$9,500

Sophomore (31+ hours)

Base Amount (Sub or Unsub)Additional Amount (Unsub Only)Max Loan Amount
Dependent Student$4,500$2,000$6,500
Independent Student$4,500$6,000$10,500

Summer Loans

Students that received their annual maximum loan amounts during the fall and spring semesters will not have any loans remaining for the summer semester.

Enrollment classification for the summer semester is the same as fall and spring (12 credit hours = full-time, 6 credit hours = half-time). Students requesting a student loan must be enrolled at least half-time (6 hours). Students who have received their annual maximum amounts in Pell and/or loans may still be eligible for SEOG and/or Federal Work Study.

If you have been awarded a Federal Direct Student Loan you must be aware of the following information:

You must complete Entrance Counseling (EC) and a Master Promissory Note (MPN) with the Department of Education before your loan can be disbursed. These are completed online at http://StudentAid.gov. 

Federal Direct Student Loan Info Sheet.

There is a DEADLINE for student loans. The Office of Financial Aid must receive the Student Loan Request, EC, MPN, AND loan acceptance by the Wednesday before finals week in order to receive the loan awarded for that semester.

  • Fall 2024 Deadline: December 4th 
  • Spring 2025 Deadline: May 7th
  • Summer 2025 Deadline: July 16th

The loan amounts shown on your Offer Letter are the amounts you are eligible to borrow for the semester or academic year you requested.

If you are enrolled less than full time, the amount of your loan could be reduced based on your total Cost of Attendance. If you drop below six hours before your loan has been disbursed, you may not be eligible for any or part of the remaining loan you were awarded.

Origination Fee: All Direct Subsidized Loans and Direct Unsubsidized Loans have a loan fee.  The percentage for loans first disbursed on or after Oct. 1, 2020 is 1.057%. Loans first disbursed before that date had different loan fees.

Interest Rates: The interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans first disbursed after July 1, 2024 is 6.53%. The interest rates shown above is a fixed rate for the life of the loan.

Students who graduate, leave school, or drop below half-time enrollment must complete Exit Counseling provides important information to prepare you for repaying your federal student loan(s).

Parent PLUS Loans

Application must be submitted through studentaid.gov. Eligible students/parents will receive more information from our office. 

Federal Direct Parent PLUS Loan Info Sheet.

Origination Fee: All Direct PLUS Loans have a loan fee.  The percentage for loans first disbursed on or after Oct. 1, 2020, is 4.228%. Loans first disbursed before that date had different loan fees.

Interest Rates: For Direct PLUS Loans first disbursed after July 1, 2024, the interest rate is 9.08%. This is a fixed interest rate for the life of the loan.

Additional information about the types of student loans, interest rates, loan limits, and fees is available here.

CASC Cohort Default Rates

Fiscal Year2021 - 202020192018201720162015201420132012
Default Rate0.0%1.5%10.4%18.9%19.8%15.8%14.6%23.5%23.3%

Carl Albert State College is in good standing with the Department of Education regarding our official cohort default rate. CASC has a default management/prevention committee in place devoted to working in many areas of student life to educate students regarding the repayment of direct loans. To view CASC’s official cohort default rate, visit the National Center for Education Statistics.

Private Loans

Some families turn to private education loans when the federal loans do not provide enough money or when they need more flexible repayment options. However, since federal education loans are less expensive and offer better terms than private student loans, you should exhaust your eligibility for federal student loans before resorting to private student loans. More information is available at Private Student Loans.

Carl Albert State College does not certify or participate in processing loans other than federal student loans.

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"Carl Albert was perfect for me. I wasn’t ready to attend a big school and had the idea that the only way to get a degree was by attending a class in person. With Carl Albert I was able to graduate in the comfort of my home!"
"I have really enjoyed my journey at Carl Albert while seeking my Allied Health degree. The exceptional help from Carl Albert staff and students has helped me in choosing to continue my education here in the nursing program!"
"I loved it! I loved the closeness of everyone, and felt I was able to go anywhere for help if needed."
"My overall experience at CASC was amazing! All faculty was very patient and helpful. My nursing instructors were wonderful and very attentive to our needs. Even to this day, all staff at the hospital brag on the CASC nursing students and their instructors. I will always recommend CASC."
"Carl Albert is full of instructors that want to see you succeed and will do about anything to help you get there."
"I had a wonderful experience obtaining my associates in child development. Every instructor helped me grow in knowledge and confidence as a non-traditional, first generation student seeking my degree. Because of my positive experience at Carl Albert, I was prepared to seek my bachelor's and master's degrees and now work in education myself investing in students."
"I love being a Viking! Love the online courses, you guys are so helpful and supportive! Thank you, for helping me earn my certificate in Child Development. I am re-rolled for the Fall semester CASC to continue and earn my associates degree, can't wait for another great school year!!!"
"I loved being apart of Carl Albert for two years. I will always appreciate the people who poured into me, with knowledge and love. I am so glad I had the opportunity to go somewhere I thought would never be possible."
"Before college, I was out of school for 10 years. It was a fresh new start, I learned the basics again, math and more. I’m able to apply my knowledge towards my future and job. My brain is filled with information to understand the very world we live in."
"Carl Albert was an awesome college with great teachers, coaches and students. I made memories that will last a lifetime. I was a baseball player there and loved playing and representing Carl Albert. I became not only a better athlete going to school there but a smarter student as well with the strong academics."
"Thank you CASC for letting me grow not only as a person but also helping me get the education that I needed!"
"It was an outstanding experience here at Carl Albert State College. I wouldn’t trade it for anything!"
"I absolutely loved my experience at CASC and enjoyed all of my professors. I want to give an extra special thank you to Susan Hill. She is my student advisor and she has went above and beyond with helping me."
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Carl Albert State College is accredited by the Higher Learning Commission (hlcommission.edu), an institutional accreditation agency recognized by the U.S. Department of Education

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Poteau Campus

  • 1507 S. McKenna
    Poteau, OK 74953
  • (918) 647-1200

Sallisaw Campus

  • 1601 S. Buddy Spencer Ave.
    Sallisaw, OK 74955
  • (918) 775-6977

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