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TYPES OF FINANCIAL AID

Federal Loan Facts

Federal Pell Grant
A Federal Pell Grant does not have to be repaid. This grant is generally awarded to undergraduate students who have not earned a bachelor's degree. The amount of the award is based on your FAFSA results and enrollment status. Pell Grant funds will be credited directly to your student account.

Federal Supplemental Educational Opportunity Grant (SEOG)
The SEOG does not have to be paid back. This grant is awarded to Pell-eligible students who demonstrate the greatest financial need. Valid FAFSA results must be received in the Financial Aid Office by May 1, 2004 to receive consideration. The SEOG funds will be credited directly to your student account.

Ohio Instructional Grant (OIG)
The Ohio Instructional Grant is awarded to undergraduate Ohio residents who are enrolled full time. The award amount is based on need as determined by the results of the FAFSA. The funds may be applied to tuition and fees only and will be credited directly to your student account. This money does not have to be repaid.

Ohio Student Choice Grant
The Ohio Student Choice Grant is non-need based and does not have to be repaid. The grant is awarded to undergraduate Ohio residents who are enrolled full time in a bachelor's degree program. You must complete the Ohio Student Choice Grant Application each school year. The funds will be credited directly to your student account.

EMPLOYER ASSISTED PAYMENT PLAN
Many corporations have programs to encourage their employees to complete their education. In many cases, these programs involve tuition reimbursement. When your employer has such a program, the University will assist you with a deferred tuition plan. Your must obtain the Tuition Reimbursement Form of the College from the CALL office. That form must be completed and returned to the office along with a copy of the employer's policy and a letter from the employer stating that the employee is eligible for the program. The University will provide a listing of all charges and notification of your successful completion of modular courses or semesters according to your employer's requirements. If the tuition reimbursement plan covers less than 100%, the student will be required to pay the portion of tuition and fees not covered by your employer at registration or have completed a FAFSA form with the Financial Aid office verifying that the FAFSA grant/loan will cover the difference. For complete information on this option, see the CALL Catalog.

Federal Stafford Loans
Stafford Loans are low-interest federal loans available to students who are attending college at least half time. The funds are borrowed from a bank, but the majority of the loan application process is handled through the Financial Aid Office. The amount a student may borrow is based on year in school, dependency status, and enrollment status.

Commercial Educational Loan
Students with higher incomes should check with their banks or financial advisers about a possible home equity loan that would make the interest tax deductible. Another possible source are alternative loans. These loans are available from a number of sources. Amounts that can be borrowed, interest rates and repayment schedules will vary with the individual lenders. Brochures for such programs are available in the Financial Aid Office. Before making a final decision on a loan you should seek the advice of a counselor in that office.

Any student wishing to apply for financial assistance should contact the Financial Aid Office (513-244-8132) or the CALL Office. These offices are available to answer your questions and to help estimate your eligibility for financial assistance.

FEDERAL LOAN FACTS

 


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