Oregon Revised Statutes Education and Culture § 348.630

(1) Loans may be made under the alternative student loan program to an eligible student or to a parent of an eligible student.

(2) Loans made under the alternative student loan program shall not exceed the eligible costs of education as determined by the Executive Director of the Office of Student Access and Completion minus other financial aid received, or $10,000, whichever is less, for any eligible student during a single calendar year. Total loans made for any eligible student under the alternative student loan program shall not exceed $40,000.

(3) Under the alternative student loan program, borrowers shall undergo a credit check by the lender or by the executive director and shall be creditworthy or provide a creditworthy cosigner.