Federal Direct Stafford Loans

These low-interest loans are available to students who are attending college at least half time. No credit check is required. Repayment begins six months after you graduate or drop below half time. You must submit the Free Application for Federal Student Aid (FAFSA) to gain eligibility for these loans. Annual Loan Limits for Stafford Loans have been set by the federal government and are based on your dependency status and year in school.

• Federal Direct Subsidized Stafford Loans are available to students who have financial need as determined by the FAFSA. The federal government will pay the interest on your Subsidized Stafford Loans while you are in school and during the grace period before you enter repayment. The interest rate for Subsidized Stafford Loans first disbursed to undergraduate students after July 1, 2012 is fixed at 6.8%. Graduate students no longer are eligible for Subsidized Stafford Loans for loan periods beginning on or after July 1. 2012.
• Federal Direct Unsubsidized Stafford Loans are available regardless of family income. You are responsible for paying all interest on your Unsubsidized Stafford Loans. Although payment of the loan is not required while you are in school, the interest will accrue during this time and increase your indebtedness. You have the option of paying the interest as you go to help keep your loan debt to a minimum. The interest rate for all Unsubsidized Stafford Loans disbursed to undergraduate and graduate students is fixed at 6.8%.

Federal Direct PLUS Loan

This low-interest loan program is available to parents of dependent, undergraduate students enrolled at least half time. The interest rate is fixed at 7.9%. Graduate students also may borrow in the PLUS Loan program but must apply for Stafford Loans first. The PLUS borrower must pass a credit check to qualify for the loan. Repayment of the PLUS Loan begins 60 days after the loan is fully disbursed and generally will continue for ten years. In-school deferment is available, but interest will continue to accrue. If a parent is denied a PLUS due to adverse credit, the dependent student will become eligible to borrow up to the independent student annual loan maximum.

Private or Alternative Loans

These are credit-based loans that have varying interest rates and fees. Students must attend at least half time for most programs and may need to have a cosigner to be eligible.

Exhaust all federal aid options before considering an alternative loan since these loans tend to be more costly than federal loans. Compare the terms of various private loan programs to find the loan that works best for you. Click here to view CCU’s Preferred Private Lender List.

Institutional Loans

Charles E. Schell Foundation, Fifth Third Bank Trustee
Cincinnati Christian University is proud to offer funds from the Schell Foundation to undergraduate students who meet the qualifications set forth by the Schell Foundation, Fifth Third Bank, and CCU.