Prospective Students

Incoming D1 Financial Aid & Budgeting Information

The information on this page is based upon the 2017/18 academic year and only relevant to incoming D1 students as a tool to help you begin planning. This information will be updated in the early Spring 2018.

The information below will help you navigate the financial aid and budgeting process.  

Webpage Topics

Loan Options
Viewing & Accepting Financial Aid
Federal Graduate PLUS Loan Online Application Process
FAQs

Create a Personal Budget

To help you evaluate your  financial circumstances and potential borrowing use the Access Group Loan Calculator. The Calculator will also assist you with knowing how your repayment schedule will look based on your current student loans. The calculator will assist with keeping your borrowing to a minimum. Give it a try! 

https://www.accessgroup.org/calculator#/

Loan Options

Federal loans are offered to students through completion of the FAFSA. The Federal Stafford Unsubsidized Loan is offered as part of your Award Summary; however, students who wish to obtain a Federal Graduate PLUS Loan must complete an online application (the application process is explained in detail "New ONLINE Federal Graduate PLUS Loan Application Process" section). 

  • Federal Stafford Unsubsidized Loan
    • Maximum Award Eligibility:  $40,500
    • Interest Rate:  6% fixed
    • Origination Fee:  1.073%
    • Interest accrues on the amount disbursed from the date of disbursement until the loan has been repaid.
  • Federal Graduate PLUS Loan
    • Maximum Application Eligibility:  Difference in Cost of Attendance (COA) and all other financial aid awards
    • Interest Rate:  7% fixed
    • Origination Fee:  4.292%
    • Interest accrues on the amount disbursed from the date of disbursement until the loan has been repaid.

University Loans are offered to eligible students through completion of the FAFSA with parental information. If a student is eligible for a University loan, it will be awarded as part of his/her Award Summary. University loans do not have origination fees like federal loans.You can view the differences in these loan options below:

  • Health Professions Student Loan (HPSL)
    • Interest Rate:  5% fixed
    • Interest does not accrue on this loan until the borrower enters repayment.
    • Repayment:  Begins 12 months after graduation, dropping below a half-time enrollment status, or otherwise separating from the University.
  • OSU Loan in Dentistry
    • Interest Rate:  7% fixed
    • Interest does not accrue on this loan until the borrower enters repayment.
    • Repayment:  Begins 6 months after graduation, dropping below a half-time enrollment status, or otherwise separating from the University.
  • Snyder Memorial Loan
    • Interest Rate:  7% fixed
    • Subsidy:  Yes.  Interest does not accrue on this loan until the borrower enters repayment.
    • Repayment:  Begins 6 months after graduation, dropping below a half-time enrollment status, or otherwise separating from the University.

Viewing & Accepting Financial Aid

Financial aid offers are communicated through the Award Summary section of your Student Center.  To view your award offers, follow the below navigation path:

  • Visit www.buckeyelink.osu.edu and sign into your Buckeyelink page.
  • Scroll down to the "Finances" section and click on "View Financial Aid."
  • On the next page, select the 2018 aid year.
  • Finally, select the "Award Summary" tab on the final page.

The Federal Graduate PLUS Loan does not show as an offer because you must submit a separate application for that loan.  Each award has a unique acceptance process.  Please follow the below steps for accepting your desired awards:

  • Scholarships
    • Scholarships cannot be accepted online.
      • College of Dentistry Awards
        • To accept, you must submit the acceptance form and thank you letter to Susannah Turner, Director of Student Affairs.
      • University and External Awards
        • Automatically accepted on your behalf.  
  • University Loans
    • University loans cannot be accepted online.  A self-certification form must be completed and submitted to Teria Thornton, and this form serves as acceptance of the loan. Health Professions requires both a self-certification form and submission of verification materials. 
    • From the Award Summary, click on the name of the loan (Health Professions, OSU Loan in Dentistry, or Snyder Memorial).
      • The self-certification form will populate in a new window, so please make sure your pop-up blocker is turned off.
    • Print and complete page 2 of the form and submit it to Teria Thornton either in person or as a PDF attachment to an email.
      • Please see the FAQs below for instructions on completing the self-certification forms.
    • Within 2-3 days of submitting your self-certification form, a promissory note will populate on your financial aid to do list.  This must be completed in order for the loan to disburse in August.
  • Federal Stafford Unsubsidized Loan
    • Acceptance is online through your Award Summary.
    • Click on the green "Accept/Decline" button.
    • Enter the amount you wish to accept and click "Submit."
    • On the "Accept/Decline" screen, confirm you acceptance by clicking "Yes."
    • Last, click the green "OK" button on the final page.
    • Within  2-3 days of accepting your Stafford loan, a promissory note and entrance counseling will populate on your financial aid to do list.  This must be completed in order for the loan to disburse in August.
  • Federal Graduate PLUS Loan
    • This loan is not offered on your Award Summary because it requires a separate application.
    • First, determine your Federal Graduate PLUS Loan application amount in the next section of this webpage.
    • Second, complete your online application.  A step-by-step tutorial is below for your assistance.

Federal Graduate PLUS Loan Online Application Process

Now that you have completed your personal budget, reviewed your loan options, and calculated your Federal Graduate PLUS Loan application amount, you may complete your online application.

Frequently Asked Questions

Pre-Awarding: 

How do I receive loans for the year?                                                                                                                                                                                                                                                                                                                     Completing the FAFSA is the first step in receiving loans. Students with parental information on their FAFSA will be considered for University loans along with federal. You will receive notification about your entire award summary in early July.

Am I an "Independent" student even if I put parental information on my FAFSA?                                                                                                                                                                                                                                         Your status as a “Professional” student makes you independent for FAFSA purposes. The parental information inclusion on your FAFSA is specifically for determination of eligibility for University loans. 

How do I know if my FAFSA has been received?                                                                                                                                                                                                                                                                                                   First, log into your buckeyelink page. Once you have logged into your page click on the link within the finances section labeled “View Financial Aid.” After selecting the aid year the “SFA Status” tab will provide you the “Date Received” for your application.                                                                                                                                                                                                                                                                                                                              

 How do I know how much I have for living expenses?                                                                                                                                                                                                                                                                                          Each year we update our Cost of Attendance (COA) information. COA is the estimated cost of a student to attend the college for a particular year. Included in the estimate are all reasonable expenses, such as tuition, rent and groceries, books and supplies, personal expenses and transportation. You can find last year’s costs on our website at https://dentistry.osu.edu/prospective-students/doctor-dental-surgery/financial-aid/cost-attendance. The COA for the upcoming year will be updated shortly. The figures on our website will assist in creating your budget.

When will I know my complete award summary for the year?                                                                                                                                                                                                                                                                             You will receive notification regarding your full award for the year in July. Prior to July you will receive periodic updates with information and actions to complete. 

I forgot to include parental information on my FAFSA. Can I go back to the application and add my parent(s) information?                                                                                                                                                                            

To make changes at fafsa.gov:

1. Click on the "Login" button and provide the information requested to get into your account.

                  2. On the My FAFSA page, click “Make FAFSA Corrections.”

                  3. Enter your FSA ID (username and password).

                  4. Change your information.

                  5. Submit your new information.

Post-Awarding:

Why can't I accept my university loan (Health Professions Student Loan, OSU Loan in Dentistry, Snyder Memorial Loan) online?
University loans are accepted through completion of a self-certification form.  Please print them form from your Award Summary, complete page 2, and submit it to Teria Thornton via email attachment (PDF version only) or in person. Health Professions requires both a self-certification form and submission of verification materials. 

Why wasn't I awarded a university loan?
Students are only considered for university loans if they entered parental information on the FAFSA by February 1.  Entering information doesn't guarantee a university loan, though.  If you forgot to enter parental information on the FAFSA, you can still do so in order to be considered for university loans for autumn and spring.