Ozarks Technical Community College and the CFO are starting a new loan program to help veterans with the cost of pursuing higher education. The Veterans Loan Program would allow veterans to apply for an interest-free loan to help with living expenses while they are enrolled at OTC.
“Due to the large number of veterans enrolled at OTC and applying for their government benefits, the payment of those benefits can be delayed,” CFO President Brian Fogle said. “This means that not only are their tuition and fee payments delayed, but their living allowance and funds for books and supplies is also delayed. The college can work with them on the tuition and fees, but there is usually nothing that can be done to help with the other costs.”
“The Veterans Loan Program will help the veterans who are enrolled at OTC to continue with their classes while they wait for their benefit payments to arrive,” OTC Chancellor Dr. Hal Higdon said. “We are grateful to the Community Foundation of the Ozarks for helping to ease the process of getting an education for our veterans.”
In order to participate in the Veterans Loan Program, veteran students at OTC whose benefits are delayed would report benefit issues to the college’s Veteran Services Representative. After submitting the verification paperwork to the Veteran Services Representative, that student would be granted an interest-free loan. As a part of the agreement, once the student receives his or her payment on benefits, those funds would be used to pay back the loan.