Oklahoma State Law Helps Students Apply for College Loans

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Current and state-run Oklahoma universities can look forward to a tuition increase this fall. University of Oklahoma students will pay 2.7% more tuition fees, and Oklahoma State University’s tuition fees will increase 2.5%.

On average, tuition fees are increased by 1.3%.

“It might feel like, ‘Wow, I finished my studies so long ago and I’m still paying,’ said Josh Gammon.

Gammon graduated from Rogers State University in Claremore, Oklahoma in 2014. He just finished paying off his last student loan debt at the end of 2020.

“It can definitely seem like a burden,” he said.

The burden that his fellow Hillcats still at Rogers State will experience in the 2021-2022 school year.

“With this extra account on top of all other accounts, he can definitely accumulate,” Gammon said.

Gammon estimates that he paid off about $ 25,000 in student loans. According to Student Loan Hero, Oklahoma college students are expected to pay nearly $ 30,000 for college education by 2021.

“The students are struggling to pay off the student loan debt,” Gammon said. “I don’t think you can do enough to help students right now.”

But a Senate bill signed this week could at least help clear things up for student borrowers.

Oklahoma’s Student Borrower Bill of Rights protects students from deceitful lenders. It requires lenders to be honest with student borrowers about payment amounts and loan terms. They should also be open about the lending process so that students know what they are getting into.

“When you’re just starting out, it can be confusing,” Gammon said.

Gammon invites student borrowers to pay more than the minimum amount for each payment to make sure they stay ahead. He also thinks there are ways to go further to help students, such as by caping interest rates on loans to make higher education available to more people.

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