Students interested in obtaining financial aid from OPI only need to complete one application to be considered for aid. If you believe you might need to borrow money, it is best to complete the loan application; if you do not intend to borrow money, you can complete the general scholarship application. Regardless, ONE application is all that is required because students receiving loan funds from OPI receive first consideration for scholarship money.
Scholarship recipients are notified by mail with an award letter specifying the amount and terms of the award.
Once a loan application is complete, a member of the OPI staff will be in touch with the applicant to schedule an interview to discuss financial needs, responsible borrowing practices and budgeting.
OPI student loans carry a low fixed rate of interest. As long as a borrower is enrolled full-time, interest does not accrue and payments are not required. Payments with interest begin 90 days after graduation or the last full-time enrollment in classes.
Loan students must reapply every semester and scholarship students must reapply on an annual basis to be considered for funding. Awards are made for the amounts of time specified in the award letter and are not guaranteed any further. Re-application materials should include a copy of grades from the previous semester and a copy of a class schedule for the upcoming semester.