Loans
Loans are borrowed money that must be paid back to the lender over a period of time, usually after the student leaves school. Federally-sponsored and privately-sponsored loans are available for college students.
Cincinnati State participates in the following loans:
Federal Student Loans
Federal Parent Loans
State Loans
Federal Student Loans
William D. Ford Federal Direct Stafford Subsidized and Unsubsidized Loans
Stafford Loans are low-interest federal student loans available to college students to supplement personal and family resources, scholarships, grants, and work-study. Nearly all students are eligible to receive Stafford Loans regardless of credit. Stafford loans may be subsidized by the U.S. Government or unsubsidized depending on the student's financial need.
A subsidized loan's interest is paid by the U.S government as long as the student is enrolled at a post-secondary institution at least half-time. Students are responsible for all interest accrued on unsubsidized loans.
All student borrowers, whether a first-time borrower or previous borrower, are required to complete loan counseling and a Master Promissory Note (MPN). Click here for details.
Stafford loan maximums per semester
Dependent Student |
Subsidized** |
Unsubsidized |
| First Year Students | $1166 | $666 |
| Second Year Students | $1500 | $666 |
Independent Student* |
Subsidized** |
Unsubsidized |
| First Year Students | $1166 | $2000 |
| Second Year Students | $1500 | $2000 |
* and dependent students whose parent was denied a PLUS loan
**students whose need is less than zero will have the subsidized portion added to their unsubsidized loan
Aggregate undergraduate Stafford loan maximum
Dependent Student |
|
| Subsidized | $23,000 |
| Subsidized + unsubsidized | $31,500 |
Independent Student |
|
| Subsidized | $23,000 |
| Subsidized + unsubsidized | $57,500 |
Federal Parent Loans
William D. Ford Federal Direct Stafford Parental Loans for Undergraduate Students (PLUS) Loans
PLUS loans enable parents (of dependent students) with good credit histories to borrow funds to help pay for their child’s educational costs. The student for whom a PLUS loan is borrowed must be attending school on at least a half-time basis.
Direct PLUS Loans differ from FFEL PLUS loans in that the money is borrowed directly from the U.S. government instead of a bank. For more information about the difference between FFEL and Direct PLUS loans, please click here.
To apply, parents should complete a prescreening for eligibility and an application at www.studentloans.gov
State Loans
Nurse Education Assistance Loan Program (NEALP)
The NEALP provides financial assistance to students enrolled in approved nurse education programs in Ohio schools and to encourage students to remain in Ohio as they enter the nursing profession. NEALP loans are limited to $3,000 per year for a maximum of three years or $12,000 total loan balance. After graduation from an approved nurse education program, a borrower may be eligible for debt cancellation at a rate of 20% per year for a maximum of 80% over four years if the borrower is employed in the clinical practice of nursing in the State of Ohio. To be eligible for a Nurse Education Assistance Loan, an applicant must: be enrolled in an approved Ohio pre-licensure or post licensure LPN or RN nurse education program; not owe a refund or be in default on any education loan; and maintain good academic standing. Students preparing for the following nursing professions are also eligible to receive Nurse Education Assistance Loans: Certified Nurse Practitioner, Certified Registered Nurse Anesthetist and Certified Nurse Midwife. Visit the OBR website at www.regents.ohio.gov for more information and to apply.
Questions? Need more information?
If you have questions about any of these loans, or need any other information, please contact the Office of Financial Aid at (513) 569-1530 or email us.
