However, total financial aid, which includes the Unsubsidized Loan, cannot exceed the cost of education. This is a long-term, low interest federal government loan based on financial need. Actual amounts received are determined by need. Repayment of the loan, with five percent simple interest accruing from start of repayment, begins nine months after the student leaves college or becomes enrolled for less than six credit hours, and must be completed in 10 years. The Financial Aid Office determines eligibility using federal guidelines.
Parents can borrow funds to cover educational costs for their dependent students.
Repayment begins within 60 days after disbursement. There is no financial need required to be eligible. However, total financial aid cannot exceed the cost of education. The applicant's credit history will be evaluated in determining loan eligibility. A state program for nursing students who, upon completion of their education, plan to practice nursing in the state of Ohio.