Simple tips to see my federal student education loans

Mission, Vision & Values

The annals of Otterbein University

Campus Map & Virtual Tour

Office of Events & Conferences

Otterbein University Accreditation

State Authorization Reciprocity Agreement (SARA)

Curriculum & Outcomes Assessment

Title IX Information

Careers at Otterbein

Workplace of this President

University Divisions & Administrative Workplaces

University Leadership & Board of Trustees

Division of Academic Affairs

School of Arts & Sciences

Class of Expert Studies

Division of Company Affairs

Division of Enrollment Management

Division of Institutional Development

Division of Scholar Affairs

Workplace of data & Tech Solutions

Admissions & Financial The

Re Search Our Academic Products

Look at the Campus

Connect with Otterbein

Scholarships & Educational Funding

International Scholar Admissions

Campus Map & Virtual Tour

Scholar Accounts Office

Otterbein Information & Occasions

Campus Events Calendar

Music Concert Calendar

Office of Events & Conferences

Campus Heritage & Scholar Life

Center for Community Engagement

Center for Scholar Involvement

Equity & Inclusion at Otterbein

Scholar Health Center

Workplace of Abode Life

Workplace of Personal Justice & Activism

Workplace for Religious & Spiritual Life

Otterbein Art Scene (Activities)

Otterbein Police Department

Scholar Services & Academic Help

Academic Help Center (ASC)

Place of work for Pupils

Center for profession & expert Development (CCPD)

Center for Scholar Success (CSS)

Center for Teaching & training (CTL)

Workplace of data & Tech Solutions

Courtright Memorial Library

Workplace for the Registrar

Academic Departments & Tools

Integrative General Education Tools at Otterbein

Department of Art & Art History

Department of Biology & Earth Technology

Biochemistry & Molecular Biology System

Department of Company, Accounting, & Economics

Department of Chemistry

Department of correspondence

Department of Education

Department of Engineering

Department of English

English as an additional Language Program

Department of Equine Science

Department of Wellness & Sport Sciences

Department of History & Political Science

Leadership Studies System

Department of Mathematics & Actuarial Science

Department of Contemporary Languages & Cultures

Department of Music

Department of Nursing

Race & Ethnic Studies System

Department of Physics

Pre-Professional Health Studies Program

Department of Psychology

Department of Religion & Philosophy

Department of Sociology, Criminology & Justice Studies

Department of Theatre & Dance

Women’s, Gender & Sexuality Studies System

Partnerships

Center for Community Engagement

The Thrift Shop

Vernon L. Pack Distinguished Lecture & Abode System

Pupil Loans FAQ

Look at list below to find out more about your student education loans.

Federal Direct Loans are federal loans for undergraduate and graduate pupils. To get federal pupil help, pupil candidates must satisfy eligibility needs as described in the Applying and Eligibility web web web page and satisfactory educational progress. The Federal Direct Loans are either subsidized or unsubsidized help that really must be repaid by the pupil debtor.

Subsidized vs. Unsubsidized
A subsidized loan is granted according to economic need. Subsidized loans don’t accrue interest whilst the pupil is enrolled in college for at the very least half-time and throughout your half a year elegance duration.

An unsubsidized loan just isn’t granted predicated on need. The debtor will undoubtedly be charged interest through the time the mortgage is disbursed until it’s compensated in full because of the debtor. In the event that debtor chooses not to ever make interest payments and enables the attention to accrue (accumulate) while in-school or during other durations of nonpayment, the attention would be capitalized. What this means is the attention are going to be added towards the principal amount lent and extra interest may be centered on that greater quantity.

Federal Direct Subsidized and Unsubsidized Loans Overview
How to use
  1. Pupil must finish the Free Application for Federal Scholar help (FAFSA).
  2. When the pupil gets a Financial help Award, the pupil must accept the Federal Direct Stafford Loan(s) via Banner prior to the guidelines supplied from the Financial help Award.
  3. After accepting the Federal Direct Stafford Loan(s), the pupil must finish Entrance guidance and indication a Master Promissory Note.

Require help? Click the link for step-by-step step-by-step guidelines.

Rate Of Interest

For loans first disbursed on or after July 1, 2018 and just before June 30, 2019

  • Direct Subsidized Loans and Direct Unsubsidized Loans for Undergraduate pupils: 5.045percent fixed
  • Direct Unsubsidized Loans for Graduate and expert Students: 6.595percent fixed

For loans first disbursed on or after July 1, 2019 and just before June 30, 2020:

  • Direct Subsidized Loans and Direct Unsubsidized Loans for Undergraduate pupils: 4.53percent fixed
  • Direct Unsubsidized Loans for Graduate and Professional pupils: 6.08per cent fixed
Additional Loan Charges

For loans very very very very first disbursed between October 1, 2019 and ahead of October 1, 2020:

For loans very first disbursed between October 1, 2018 and prior to October 1, 2019:

  • Origination Fee: 1.062%
Credit Requirements None Annual Loan Maximums See Federal Direct Loan Annual Limits. Aggregate Loan Maximum See Federal Direct Loan Aggregate Limits. Enrollment Requirement Student should be enrolled at the very least half-time (at the very least 6 undergraduate credit hours for undergraduates as well as least 3 graduate credit hours for graduate pupils). Disbursement For a provided term, loan funds are disbursed starting in the very first time associated with the very very very very first week of classes (supplied all needs are complete). Funds are used right to the student’s account. In the event that student’s account is compensated in complete and any Federal Direct Loan funds stay, a reimbursement will likely to be given to your pupil. Contact the company Office for pupils at businessoffice@otterbein.edu or 614-823-1151 for concerns. Grace Period Six months. Minimum Monthly Payment $50 Maximum Repayment Period 10 to 25 years dependant on your payment plan. Go to the U.S. Department of Education’s Federal Direct Loans internet site for lots more information. Deferment/Forbearance A Federal Direct Loan debtor may receive a deferment while he or this woman is enrolled on at the very least a half-time foundation. Deferment/forbearance might be available under other circumstances. * Federal Loan Consolidation Available under particular circumstances. Go to the Federal Direct Loan Consolidation internet site for more details. Contact Direct Loan Borrower Services at (800) 848-0979 or look at the StudentLoans.gov

Leave a comment