Student Loans

Loans are a form of financial aid from federal, state, or private sources that require repayment.

Loans are financial aid that must be paid back over time, usually starting after the student leaves school. Students with financial need may qualify for subsidized loans with reduced interest rates. The federal and state governments, along with private lenders, provide loans.   

Loan Programs

Federal Student Loans

William D. Ford Federal Direct  Stafford Loans are low-interest loans from the federal government used to help pay for tuition and other costs related to your education.

Depending on your financial need, you may qualify for one of two types of loans: 

  • Subsidized Loans: The Federal Government pays interest on the loan while you are enrolled at a college. The Department of Education limits the maximum period of time during which first-time borrowers can receive Subsidized Loans. Students may not receive a Subsidized Loan for more than 150 percent of the published length of their program. For students enrolled in a two-year associate’s degree program, the maximum period for which you can receive a Subsidized Loan is three years (150 percent of 2 years = 3 years).   
  • Unsubsidized Loans: The student is responsible for all interest accrued on the loan.

Repayment begins six months after a student’s enrollment drops below six credit hours, including students who are attending part-time, graduating, or withdrawing. 

Students must enroll for at least six credit hours in a degree or eligible certificate program. Students must accept the loan offer from Cincinnati State, complete a Master Promissory Note (MPN), and complete Entrance Counseling at studentaid.gov.    

Federal Parent Loans 

William D. Ford Federal Direct Stafford Parental Loans for Undergraduate Students (PLUS Loans) enable parents (biological or adoptive) of dependent students to borrow funds to help pay for their child’s education. Loan amounts vary by credit rating and cost of attendance. 

State Loan for Nursing Majors 

The Nurse Education Assistance Loan Program (NEALP) provides educational loans to students enrolled in approved nursing programs in Ohio, and offers partial loan cancellation to student borrowers who work as nurses in the state of Ohio after graduation. Students must:

  • be an Ohio resident
  • be enrolled in or accepted to an approved nurse education program at an Ohio school
  • demonstrate financial need as determined by the Free Application for Federal Student Aid (FAFSA). In addition to the FAFSA, students must complete the online NEALP application.

Private Loans

Many private lenders offer loans to students who need additional financial assistance to cover educational costs. Students should take full advantage of all government loans that are available before considering a supplemental private loan. Eligibility for private loans includes enrolling for at least six credit hours and meeting the standards of the Satisfactory Academic Progress policy.