Federal Loans

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College of Dentistry students are considered for federal loans, such as the Stafford Unsubsidized Loan and the Grad PLUS Loan, through completion of the FAFSA (Free Application for Federal Student Aid).  The priority date for filing the FAFSA is February 15 of each year.
The Stafford Unsubsidized and Grad PLUS Loans offer deferred repayment while students are enrolled at a half-time status or above; however, interest does accrue on the disbursed amounts.  Please see the loan comparison chart below for details on each loan:

Stafford Unsubsidized Loan

Grad PLUS Loan

Application Completion of the FAFSA Completion of the FAFSA and paper Grad PLUS application
Credit Check No Yes
Endorser/Co-Signor No Dependent on student’s credit check
Interest Rate 5.41% fixed if first disbursement is prior to July 1, 20146.21% fixed if first disbursement is on or after July 1, 2014 6.41% fixed if first disbursement is prior to July 1, 20147.21% fixed if first disbursement is on or after July 1, 2014
Annual Borrowing Limit D1:  $40,500 D2-D4:  $47,167 Difference of annual Cost of Attendance and all other accepted awards
Lifetime Borrowing Limit $224,000 Includes all Stafford loans borrowed throughout educational career There is currently no lifetime borrowing limiti
Repayment Timeline Begins 6 months after graduating, dropping below half-time status, or separating from the University Begins 6 months after graduating, dropping below half-time status, or separating from the University.
Created with the HTML Table Generator 

www.home.cccapply.org

Loan offers are communicated to students through the Award Summary portion of their online Student Center.  In order for students to have loans applied to their account, they must first complete the necessary acceptance steps:
Stafford Unsubsidized Loan
  • Accept the loan online.  Please refer to the Buckeye Link accept/decline awards guide.
  • Complete the electronic promissory note.
  • Complete the online entrance counseling session.
Grad PLUS Loan
  • Complete the paper application and return it to Jami Jackson.
  • Complete the electronic promissory note.
  • Complete the online entrance counseling session.
Returning students do not need to complete a new promissory note or entrance counseling session each academic year, as these are valid for ten years.  They do need to re-accept their loans each year in order for them to continue to disburse. 

www.nslds.ed.gov

Since interest accrues on these loans during enrollment, the Direct Loans program allows students to make interest-only payments prior to graduation.  Students are not required to make loan repayments while enrolled; however, if they choose to do so, they can set this up with their loan servicer.  Loan servicer information can be accessed by visiting NSLDS and selecting “Financial Aid Review.”