University-Administered Loans

www.ucom.osu.edu

www.ucom.osu.edu

College of Dentistry students are considered for university-administered loans, such as the Health Professions Student Loan (HPSL), the OSU Loan in Dentistry, and the Snyder Memorial Loan through completion of the FAFSA (Free Application for Federal Student Aid).  Even though professional students are considered independent on the FAFSA, they must supply parental information in order to be considered for these loan options.  All university-administered loans are subsidized and offer deferred repayment while students are enrolled at OSU. 
Please see the loan comparison chart below for details on each loan:

Health Professions
Student Loan (HPSL)

OSU
Loan in Dentistry

Snyder
Memorial Loan

Application Process Completion of FAFSA
with parental information
Completion of FAFSA
with parental information
Completion of FAFSA
with parental information
Credit Check Required No No No
Endorser Required No No No
Interest Rate 5% fixed 7% fixed 7% fixed
Annual
Borrowing Limit
D1:  $4,600
D2-D4:  $10,500
D1:  $650
D2-D4:  $2,000
D1:  $4,600
D2-D4:  $10,000
Lifetime
Borrowing Limit
No maximum $4,000 $40,000
Loan Deferment
and Repayment
Repayment and
interest is deferred
while student is
enrolled at a
full-time status.
Repayment begins
12 months after
graduating, dropping
below full-time
status, or separating
from the University.
Repayment and
interest is deferred
while student is
enrolled at a
half-time status.
Repayment begins
6 months after
graduating, dropping
below full-time
status, or separating
from the University.
Repayment and
interest is deferred
while student is
enrolled at a
half-time status.
Repayment begins
6 months after
graduating, dropping
below full-time
status, or separating
from the University.

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To be considered for university-administered loans, students must complete the FAFSA no later than February 15th prior to the beginning of the academic year.  Even though they are independent students for FAFSA purposes, they must include parental information to be reviewed for these awards.  Loan offers are communicated to students through the Award Summary portion of their online Student Center by the middle of June. 
In order for students to have loans applied to their account, they must first complete the necessary acceptance steps:
  • Print and submit the appropriate self-certification form* to Jami Jackson:
    Health Professions Student Loan
    OSU Loan in Dentistry
    Snyder Memorial Loan
    *The self-certification forms are not applications for the loans.  You must be offered these loans through your Award Summary in order to be eligible for them.  If a university loan is offered to you, the self-certification forms serve as acceptance for the offered loan amount.  Students cannot accept these loans online.
  • Complete an electronic promissory note.  Promissory notes are added to the financial aid To Do List within three business days of submitting the self-certification form.
Unlike the federal loans, both the self-certification form and promissory note have to be completed each academic year.  These are only valid for one year.  Forms can be submitted in-person, faxed, or emailed to Jami Jackson.