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Loan Interest Rates, University of Cincinnati
Student loans come in both subsidized and unsubsidized versions. Borrowers can elect to make loan payments at that point, interest-only payments, or can request the loan be deferred during the student enrollment. PLUS Loans will also be variable-fixed, where the borrower receives a specific rate with each new loan, but that rate is fixed for the life of the loan. Note that non-federal educational loans may have interest calculated and added to the loan quarterly The frequency of this determination can greatly increase the cost of a loan.
Students seeking a federal loan are required to complete Entrance Counseling and a Master Promissory Note Direct Subsidized Loans are available for students with financial need. $9,500 No than than $3,500 in subsidized loans. $6,500 No than $4,500 in subsidized loans. $10,500 No than $4,500 in subsidized loans. $7,500 No than $5,500 in subsidized loans. $12,500 No than $5,500 in subsidized loans. Aggregate loan limits are the total amount of loans a and graduate student may borrow over the course of their education. If the total loan amount applicant receive over the course of their education reaches the aggregate loan limit, applicant are not eligible to receive additional loans. $31,000 No than $23,000 in subsidized loans. $57,000 No than $23,000 in subsidized loans.
University of Holy Cross
The federal government restricts the amount a student may borrow in federal loans, both on an annual basis and in the aggregate. $5,500-Only $3,500 of this amount may be in subsidized loans. $9,500-Only $3,500 of this amount may be in subsidized loans. $6,500-Only $4,500 of this amount may be in subsidized loans. $10,500-Only $4,500 of this amount may be in subsidized loans. $7,500-Only $5,500 of this amount may be in subsidized loans. $12,500-Only $5,500 of this amount may be in subsidized loans. Lifetime Maximum Total Debt from Stafford and Direct Loans $31,000-Only $23,000 of this amount may be in subsidized loans. $57,500-Only $23,000 of this amount may be subsidized loans. Dependent students whose parents have been denied a Federal Parent Loan are eligible to borrow at the independent level.
Extended repayment—available only if the student did not have a balance on a federal student loan as of October 7, 1998. Loan consolidation—allows a student to bundle all of their federal education loans into one convenient single monthly loan payment at a fixed interest rate. Depending on the student’s total outstanding loan balance, students may also be able to extend the repayment period and lower their monthly payments. Applicant don't have to pay interest on the loan during deferment if applicant have a subsidized FFEL or Direct Stafford Loan or a Federal Perkins Loan. The Loan Deferment Summary Chart here shows Stafford Perkins Loan deferments for loans disbursed on or after July 1, 1993.
This plan is available to low-income borrowers who have a Direct Subsidized Loan, Direct Unsubsidized Loan, Direct Graduate PLUS Loan and or a Direct Consolidation Loan This plan allows students who do not qualify for the Income Based Repayment or the Pay As applicant Earn plans to make lower Direct Loan payments. Loan deferment is a period of time during which repayment of the principal balance of their loan is temporarily delayed. Depending on the type of loan applicant have, the federal government may pay the interest on their loan during a period of deferment. Documentation may need to be provided to the loan servicer to show why applicant should be granted forbearance.
Loan Fees, University of Cincinnati
Federal Subsidized, Unsubsidized and PLUS Loans can carry with them loan fees that are taken out of the principal prior to disbursement. However, the reduced rate after October 1, 2020, translates to 11 cents in lesser fees on a $5,500 student loan and 80 cents on a $10,000 PLUS Loan. Take the total loan amount accepted on their award offer and subtract 1.062% off of Subsidized and Unsubsidized Loans and 4.248% off of Parent and Graduate PLUS Loans to account for both origination and default fees. Then divide this net loan amount by the number of loan payments Given the shifting changes in origination fees that occur mid-year, a billing estimate may differ from an actual loan amount but that difference should be minimal.
The Unsubsidized Stafford is a guaranteed student loan therefore, the only reason students can be turned down is if they have met their annual or aggregate loan limits or are currently in default of a current or previous federal loan. Once their grace period ends, applicant must begin repaying their loan If the loan is subsidized interest is not accruing during this time. Graduate PLUS Loan borrowers must first apply and be approved for their Stafford Loan eligibility prior to borrowing a PLUS Loan. To apply for a Direct Graduate PLUS Loan, applicants must complete and return a credit check authorization form. PLUS Loans also qualify for up to 3 years of forbearance.
The majority of MBA students use loans to finance their education, either in total or in part, and many sources of loans exist. Federal Stafford Loan: The Federal Stafford Student Loan program is divided into two types: subsidized and unsubsidized. Federal Perkins Loan: Funds for the Federal Perkins Loan program are provided by the federal government, and are limited to full-time second year students only. Direct PLUS Loan: Federal Direct Graduate PLUS Loan is a federal loan available to graduate and professional students based on educational costs. This loan, in combination with other aid, cannot exceed educational costs as determined by Ohio State. Alternative Loans: Credit-based loans funded by various lenders. These funds are often used to supplement the Federal Stafford loan program.
Direct Subsidized + Unsubsidized Loan
Direct Student Loans are loans available to and graduate students with the US Education acting as the lender. There are two types of Direct Student Loans Subsidized and Unsubsidized. Use the university Loan Fee Calculator to help determine their origination fees when figuring loan amounts. Independent loan limits also to students whose parents are unable to borrow through the PLUS program because of a credit denial. Aggregate loan limits for graduate students include loans received for course work.
Applicant must complete the counseling before their loan will be disbursed to their account. This counseling session, which is on the the students.S. Education Direct Loan Servicing site helps applicant understand their rights and responsibilities in repayment. Please The MPN must be completed before loan funds are able to be credited to the student account. All loan proceeds can disburse no earlier than 10 days before the start of classes. Information regarding a student loan amounts and loan types will be submitted to the NSLDS. Applicant will be responsible for any interest that may have accrued and or any loan fees. A Direct Consolidation Loan Program is available allowing applicant to consolidate one or of the eligible federal education loans into one loan.