Coos Bay Student Loan Fund


Who may borrow from this fund?

Upon completion of the application procedure, loans may be granted to any Coos Bay graduate who meets the following criteria:

  1. Enrolled or accepted for enrollment at a community college, college, university, vocational or business school;
  2. Enrolled and attending as a full-time student, as defined by the educational institution;
  3. Showing progress toward a degree or completion of an educational program designed to qualify the applicant for gainful employment;
  4. Not in default on any previous loan received from the CBSLF.


How much can I borrow?

A student may qualify for loans up to a maximum of $25,000.  The board’s Loan Committee determines the specific amount of the loan.  The following guidelines will apply:

Class/Grade             Credits                        Initial                     Cumulative

Freshman                  15                                  $1,000                   $5,000

Sophomore                45                                 $5,000                   $10,000

Junior                        90                                 $5,000                   $15,000

Senior                       135                                $5,000                   $20,000

5th year College Program $5,000 $25,000

Extended Student $5,000 $30,000

Available first term or semester of Freshman year.  Second semester, proof of at least a 2.0 GPA Class Standings are determined by the educational institution.  First-time applicants above freshman standing are eligible for the appropriate cumulative amounts.

Interest is charged at a rate of 4% per year on the outstanding balance and begins at the time funds are issued.  Interest may be lowered to 3% if auto pay plan is in place.  Interest is simple interest.  There are no other charges.


Is there a priority for granting loans?

Loans are granted in the following priority:

  1. Student working on an undergraduate degree for the first time:
  2. Current loan holder
  3. Student successfully completing course work with at least a 2.00 GPA and showing continuous progress toward completion of a degree
  4. Student’s class standing: Senior, Junior, Sophomore, Freshman, Graduate Student.

How to apply