Prospective Students

Federal Loans

College of Dentistry students are considered for federal loans, such as the Stafford Unsubsidized* Loan and the Federal Graduate PLUS Loan, through completion of the FAFSA (Free Application for Federal Student Aid). The priority date for filing the FAFSA is February 1 of each year.

Both the Stafford Unsubsidized Loan and the Federal Graduate PLUS Loan have deferred repayment while students are enrolled at a half-time status or above; however, interest does accrue on the loan amounts disbursed while students are enrolled. Please see the loan comparison chart below for details on each loan.  All information listed below is also viewable at www.studentloans.gov.
 

 

Federal Stafford
Unsubsidized Loan

Federal Graduate PLUS Loan

Application Process

Completion of FAFSA

Completion of FAFSA and online application

Credit Check Required

No

Yes

Endorser/Co-Signor Required

No

Only if student's credit check is denied

Interest Rate

First disbursement prior to
July 1, 2017:  5.31% fixed

First disbursement post
July 1, 2017:  6% fixed
Students will be updated once the University has received official notification from the Department of Education regarding post-July 1 interest rates.

First disbursement prior to
July 1, 2017:  6.31% fixed

First disbursement post
July 1, 2017:  7% fixed
Students will be updated once the University has received official notification from the Department of Education regarding post-July 1 interest rates.

Annual Borrowing Limit

D1: $40,500

D2-D4: $47,167

Difference of Cost of Attendance (budget) and all other award offers.

Lifetime Borrowing Limit

$224,000;
This includes all Stafford loans borrowed as an undergraduate, graduate, and professional student.

There is currently no lifetime borrowing limit for the Federal Graduate PLUS Loan

Loan Repayment

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

Federal Graduate PLUS Loan Online Application Process

Need help navigating the new application?  No problem!  Just refer to this step-by-step tutorial.

Students are offered federal loans through completion of the FAFSA. 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:

Federal 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.

Federal Graduate PLUS Loan

  • Complete the online application
  • 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. Loans do need to be accepted each year in order for them to continue to disburse.

Since interest accrues on these loans while students are enrolled, the Direct Loans program allows students to make interest-only payments prior to graduation. Students are not required to make any loan repayments while enrolled; however, if students choose to make interest-only payments while enrolled, they can set up a payment plan through the Direct Loans Servicing Center.

*The Federal Stafford Subsidized loan is no longer available to graduate and professional students.