DDS Loan Assistance

Loans are a common means of financing education, providing individuals with the necessary funds to cover tuition, living expenses, and other related costs. Unlike scholarships, loans require repayment, typically with interest. Government-sponsored loans, such as federal student loans, often offer favorable terms and flexible repayment options. Private loans, provided by financial institutions, may also be an option, but careful consideration of interest rates and terms is essential.

Comparing loan options
	Federal Direct Unsubsidized Loan	Federal Direct Graduate Plus Loan	Snyder Memorial Loan	OSU Loan in Dentistry	Health Professions Student Loan
Application Process	Complete the FAFSA	Complete the FAFSA and online application	Completion of FAFSA and Health Professions Application found in ScholarshipUniverse.	Completion of FAFSA and Health Professions Application found in ScholarshipUniverse.	Completion of FAFSA and Health Professions Application found in ScholarshipUniverse.
Credit Check Required	No	Yes (Endorser may be used if credit check is denied)	No	No	No
Annual Borrowing Limit	D1 $40,500 D2-4 $47,167	Up to remaining Cost of Attendance (COA), after accounting for all other aid	$40,000	$4,000	Amount varies each year
Interest Rate & Terms	Please consult federal website for most recent interest rate information Interest accrues while in school	Please consult federal website for most recent interest rate information Interest accrues while in school	7% fixed Interest does not accrue on this loan until the borrower enters repayment.	7% fixed Interest does not accrue on this loan until the borrower enters repayment.	5% fixed Interest does NOT accrue while in school, and up until 12 months after graduation
Origination Fee	Consult federal website	Consult federal website	None	None	None
Repayment	Begins six months after graduation, falling below half-time enrollment, or withdrawing from the University	Begins six months after graduation, falling below half-time enrollment, or withdrawing from the University	Begins 6 months after graduation, dropping below a half-time enrollment status, or otherwise separating from the University.	Begins 6 months after graduation, dropping below a half-time enrollment status, or otherwise separating from the University.	Begins 12 months after graduation, falling below half-time enrollment, or withdrawing from the University

Contacting a Financial Aid Advisor

Due to FERPA regulations, you must send any financial aid-related emails from your OSU email address. If you send a question or request from any other address, you will be asked to resend it properly. You can expect a response within 24-48 hours. During peak times (May, August, September and January ), please allow additional time for your question to be answered.

Office hours are available for one-on-one advising sessions via phone, email, or in-person appointments. For personalized assistance, please contact dentistryfinancialaid@osu.edu

Loan Consideration

To be considered for university-administered loans, students must complete the FAFSA, including parental information, no later than February 1 prior to the beginning of the academic year. 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:

Print and submit the appropriate self-certification form* to Dentistry Financial Aid:
- Health Professions Student Loan
- OSU Loan in Dentistry
- Snyder Memorial Loan
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.

*The self-certification forms serve as acceptance. Students cannot accept these loans online.

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 dentistryfinancialaid@osu.edu.

Private Loans

Before applying for a private loan, the Student Financial Aid Office recommends filing a FAFSA to exhaust any federal and university aid options first.

Ohio State does not promote or endorse any private educational loan lenders. FastChoice is a loan comparison tool that assists borrowers in selecting a private loan. Please review lender information carefully and contact the lender with questions. FASTChoice lists several of the loan companies from which our students have chosen to borrow during the previous aid year.

We reserve the right to add or remove any lending agency from the list at any time. Students are not restricted to using a lender from the FASTChoice list. They may choose any eligible participating lender.

Private loans typically take four to six weeks to process, certify, and disburse. Due to the extended timeline, the University recommends ample time for processing.

Loan FAQs

Question Do you recommend a federal loan over a private bank loan?: Answer

There are many benefits to Federal loans as opposed to private educational loans. One in particular is Federal loans are dissolvable if you become permanently disabled or deceased. Also, Federal loans have fixed interest rates where most private loans offer variable interest rates that have high or no limits. Therefore, there are some major differences between federal and private loans. In addition, Federal loans provide a variety of repayment options to borrowers and offer some flexibility depending up on circumstances. Terms of repayment should be discussed thoroughly before borrowing from a private lender considering all future plans.
Question How do I increase or decrease my loans?: Answer

In general you can increase your loans at anytime up until a few weeks before the end of the school year. You can increase this loan up to your Cost of Attendance. If you wish to decrease the amount of your loans, you have up until 15 days after the start of the semester.
Question Who receives my loan funding -- me or Ohio State?: Answer

Ohio State receives all of your financial aid funding directly. These funds pay your University fees, and any remaining funds are then returned to the student as a "refund" to help pay for academic and living expenses. Once you have registered for your first semester of classes, you will be able to enroll in the University's direct deposit program to receive your refund timely.
Question How am I notified about the denial/approval for my Grad PLUS Loan?: Answer

Once you apply for the loan, Direct Loans generally contacts you via email or mail correspondence within a week. If you are denied, you may seek a credit worthy co-signer, as will be explained in the email from Direct Loans.
Question How long will it take to process my loan request?: Answer

You should generally allow 2-3 weeks for your loans to be processed. In order to minimize the processing time, be sure you complete all of the necessary steps. Please review our other loan pages for the various loans and their required steps.
Question Is there a limit on how much loan money I can borrow?: Answer

We suggest reviewing your budget to determine how much aid you need to borrow. Once that is determined you can compare that number with the estimated cost of attendance. A student cannot be awarded over his/her cost of education, regardless of the type of financial aid.
Question How do I defer my loan payments?: Answer

If you have loans when entering dental school, they may be automatically eligible for an in-school deferment. Please contact your lender or servicer and request that they send you an in-school deferment form. They may have this form available on their website already. If you borrowed federal loans during your undergraduate career, you can visit the National Student Loan Database System to obtain contact information for your servicer(s). If you have a private loan, you can pull a free copy of your credit report to obtain their contact information.
Question Does the eligibility for any loans (federal or private) REQUIRE parent information on the FAFSA or on the application for the loan?: Answer

To receive federal loans you need to file the FAFSA. You do not need to include parent information on the FAFSA if you only want to be awarded federal loan funding. Ohio State encourages students to include parent information so that they can be considered for all need-based scholarship opportunities and subsidized University loan funding.

Please note

The links on this page are provided as a convenience to our website users for their informational and resource purposes only. Neither The Ohio State University nor its College of Dentistry endorses or approves any of the products, services or opinions of the entities or individuals associated with these links. The Ohio State University and its College of Dentistry bears no responsibility for the accuracy, legality or content of any external site associated with the links provided or any subsequent links.