Would you like to know more about how PURSUE can help you?
Check out our Frequently Asked Questions below.
Q. What are the Terms & Conditions of PURSUE for new students?
- Eligibility for program determined by OKWU. Transfer students must have a minimum of 60 hours left to earn degree.
- Student must graduate from OKWU.
- PURSUE covers federal, private, and parent PLUS loans.
- Graduate must be employed (see specifications below).
- Average a minimum of 30 hours/week for assistance and 40 hours/week for full reimbursement.
- Work in the US
- Not self-employed or working for family
- Must earn at least the federal minimum wage
- Income level determines assistance.
- If below lower threshold, graduate is eligible for full assistance
- If above upper threshold, graduate is NOT eligible for assistance
- If in between upper and lower thresholds, assistance is proportional
- Loan payment reimbursements are made quarterly.
Q. How much does PURSUE cost?
PURSUE does not cost anything for Oklahoma Wesleyan University students.
Q. I have loans from another college/university – will PURSUE cover this debt?
No. PURSUE only covers loans that you borrow to attend Oklahoma Wesleyan University, beginning with the date or term specified in your award letter.
Q. What if I get married? Does that affect my eligibility?
Getting married does not change your PURSUE eligibility. If you are married we will look at the greater of either of your personal income, or one-half of your household income. If your spouse has a high income, you may not qualify for benefits.
Q. What if I go to graduate school? Does that affect my eligibility?
No. We encourage students to optimize their potential by continuing their education. You will likely be able to defer repayment on your undergraduate loans until after graduate school, at which point you will still be eligible for PURSUE. Please note that PURSUE only covers loans that are taken out to finance your undergraduate education and will not cover graduate school loans.
Q. Can my 30 hours of work be comprised of multiple jobs?
Yes. You have to work at least an average of 30 hours per week in each month that you are applying for loan repayment assistance to be eligible. Those hours could come from several part-time jobs, or one full-time job. Please note that 30 hours is the minimum amount of time needed to qualify for assistance and you must work at least 40 hours per week to qualify for full reimbursement.
Q. How is my Repayment Assistance calculated?
To calculate your repayment assistance, we will use the greater of:
(1) your personal total income from all sources (such as your Total Income as defined for federal tax purposes, plus other amounts (such as 401(k) contributions), plus any other substantial non-taxed income (such as housing allowance)
(2) one-half of your total household income (including your spouse’s income.) Your Repayment Assistance will be calculated after taking into account any loan repayment assistance for which you eligible under any federal, state or other program.
Q: If the repayment amount is based upon income, how do I determine the percentage amount for me?
A: If annualized income is below the lower threshold of $20,000, the graduate is reimbursed for 100% of loan repayments that quarter. Assistance decreases proportionately as income increases. Once the graduate’s income is above the upper income threshold for a full year, that student is no longer eligible for repayment assistance.
Q. Who should I contact for more information?
Toll Free: 866.222.8226