The purpose of Nurse Education Assistance Loan Program is to provide financial assistance to Ohio students enrolled for at least half-time study (or accepted for enrollment) in approved Ohio pre-licensure nurse education program who intend to serve as nurses after graduation.
These non-federal loans are in addition to the student Federal loans already included in the student's financial aid award.
The private (alternative) education loan program is available to assist students in covering the remaining balance due after other financial aid has been considered.
#Student assistant plus plus
If approved, complete a Loan Agreement for a PLUS Loan (MPN) at the same site,.
After the parent is logged into, they will click “Apply for a PLUS Loan”. If the parent does not have an FSA ID, they will apply for one at fsaid.ed.gov. The parent will log in using their FSA ID. To apply for a Federal Direct Parent PLUS LoanĪpply online at. This fee is deducted from each loan disbursement. Direct Parent PLUS loans disbursed on or after and before have a fee of 4.228%. Direct Parent PLUS loans disbursed on or after and before have an interest rate of 6.28%. (In some cases, the student's stepparent may be eligible.) The student must be a dependent student (according to the FAFSA). The Direct Parent PLUS Loan is based on a credit check completed by the Department of Education. Credit checks are valid for 180 days. The parent borrower must be the student's biological or adoptive parent. New borrowers of Direct Loans must complete Direct Loan Entrance Counseling and a Loan Agreement (MPN) online at. These loans also have a loan fee of 1.057%. If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount.ĭirect Subsidized and Unsubsidized Loans for undergraduate students disbursed on or after and before have an interest rate of 3.73%. Another option is to let the interest accrue and be capitalized (that is, added to the principal amount of your loan). You can, but are not required to, pay the interest while you are in school or during grace periods, deferments, or forbearance. Interest accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. Repayment begins 6 months after the student leaves school or drops to less than half-time.ĭirect Unsubsidized Loans are available to undergraduate and graduate students there is no requirement to demonstrate financial need. Students are not charged interest while in school at least half-time (minimum of 6 hours). Department of Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans.ĭirect Subsidized Loans are for students with financial need. Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school.
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