Student Financial Aid

Financial Aid Award Guide 2014-2015

Important Award Information

You are responsible for reading and understanding all the information detailed in this Financial Aid Award Guide.

Your acceptance of the aid listed on the Award Summary tab of your Student Center indicates your willingness to agree to the following terms. You MUST notify the Student Financial Aid in writing if you don't agree to these terms. You agree to:

  • have your financial aid credited to "other" university charges, such as but not limited to health insurance, parking permits and fines, computing fees, activity fees, etc.
  • use any credit balance generated as a result of withdrawal from ALL classes to reduce any student loan debt, including a PLUS loan, if applicable

The Student Financial Aid reserves the right to cancel all or part of any financial aid programs awarded that require additional steps to secure the awards. These include, but are not limited to, the following: Federal Work-Study, Federal Perkins Loan, Health Professions Student Loan, Nursing Student Loan, and Long-Term University Loan.

 

Please note: First-year freshmen who are selected for verification may receive an estimated award prior to the completion of their verification. If verification materials are not turned in by the deadline date or if the Expected Family Contribution (EFC) changes as a result of verification, the final award may change.

The programs listed below require you and/or your parents to take action so that you can receive your funds.

You will need your OSU Internet Username and Password. If you have not already done so, activate your OSU Internet Username and Password by going to acctmgt.service.ohio-state.edu. If you experience difficulties with the activation process, call the Office of Information Technology help line at 614-688-HELP.

You will use your OSU Internet Username and Password to register for classes, receive grades, obtain your Statement of Account, and receive future correspondence, including financial aid awards, from The Ohio State University.

Please pay careful attention to the instructions below for each item listed.


Cooperative Housing

Stadium Scholarship Program:

For detailed information about this program, go to Stadium Scholarship Program.

You must accept or decline this offer online at your Student Center, accessible via Buckeye Link, by May 1 in order to reserve your space.

Alumnae Scholarship House:

For detailed information about this program, go to Alumnae Scholarship Program.

You must accept or decline this offer online at your Student Center, accessible via Buckeye Link, by May 1 in order to reserve your space.


Land Grant Work-Study Program

This program provides employment opportunities for recipients of the Land Grant Opportunity Scholarship, allowing them to earn money to help pay education expenses. The program has a variety of work opportunities including community service and work related to your course of study. You will receive payroll payment by direct deposit every two weeks for the hours you worked.

To search for a Land Grant Work-Study Program job and print your referral form, please go to sfa.osu.edu/jobs and click on "Get a job." You will normally be able to login to look for a job beginning in early May each year. Follow the directions to log in to the online job system. Additionally, please be sure to read the Land Grant Work-Study Program Student Employee Manual, available at sfa.osu.edu/forms/award/lgw.pdf.


Federal Work-Study

The Federal Work-Study Program (FWS) is a need-based program which provides employment opportunities for students, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to your course of study. You will receive payment by direct deposit every two weeks for the hours you worked.

No money from your Federal Work-Study award will be available to help you pay fees at the start of each term. You will earn your FWS award after you begin enrollment each term.

In order to receive this award, you must indicate interest on your FAFSA and submit by the priority deadline. You must accept or decline this offer online at your Student Center, accessible via Buckeye Link. You will receive the funds only by working hours on a job.

Please note: Federal Work-Study funds are limited; therefore, you have a limited amount of time to secure employment on FWS. Typically, awards are canceled for students who do not begin working prior to the end of autumn semester.

Columbus Campus students: You will normally be able to login to look for a job beginning in early May each year.To search for a Federal Work-Study job and print your referral form, please go to sfa.osu.edu/jobs and click on Get a job. Follow the directions to log in to the online work-study system. Additionally, please be sure to read the Federal Work-Study Program Student Employee Manual, available at sfa.osu.edu/forms/award/fws.pdf.

Extended Campus students: You will normally be able to login to look for a job beginning in early May each year. For information regarding Federal Work-Study jobs and hiring procedures at your extended campus, please contact the Financial Aid or Business Office at your campus. Additionally, be sure to read the Federal Work-Study Program Student Employee Manual, available at sfa.osu.edu/forms/award/fws.pdf.


Federal Perkins Loan

This is a 5% interest loan. Interest does not accrue and repayment does not begin until 9 months after you cease half-time enrollment.

You may accept or decline this offer online at your Student Center, accessible via Buckeye Link.

If you accept this loan you must complete and sign a Master Promissory Note. An e-mail notification will inform you when your electronic Master Promissory Note is available for your signature at the Office of Financial Services website. Once the note is completed and signed online, the funds will be disbursed into your account.

If you prefer to sign a paper note, the website will give you an option to request a paper copy, which will be mailed to the address you request. Once the note is completed, signed, and returned to the Office of the University Bursar, the funds will be disbursed into your account.

Please note: Federal Perkins Loan funds are limited; therefore, you have a limited amount of time to accept your Perkins Loan. Typically, awards are canceled for students who do not accept their loans prior to the end of autumn semester.


Federal Direct Subsidized / Unsubsidized Loan

(Federal Direct Stafford Loan) For information about interest rates for Federal Subsidized Loans, see the Loans page. Federal Subsidized Loan interest does not begin to accrue until six (6) months after you cease half-time enrollment. Federal Unsubsidized Loan interest accrues from the date of disbursement.

  • You may accept or decline this offer online at your Student Center, accessible via Buckeye Link.
  • In order to receive your funds, you must have completed online entrance counseling and a Master Promissory Note (MPN). Follow the directions on your To Do list to make sure you have completed all necessary steps. You will need your federal Personal Identification Number (PIN) to complete these processes.
To request a federal PIN: www.pin.ed.gov
Entrance Counseling: studentloans.gov
Master Promissory Note (MPN): studentloans.gov

Health Professions Student Loan

This is a 5% fixed interest loan. Interest does not accrue and repayment does not begin until 12 months after you cease full-time enrollment.

To accept this loan, review the loan terms on the Health Professions Student Loan Disclosure and Self-Certification, complete and sign the Self-Certification form, and return it to the financial aid representative at your college office.

If you accept this loan, you must complete and sign a promissory note. An e-mail notification will inform you when your electronic promissory note is available for your signature at the Office of Financial Services website. Once the note is completed and signed online, the funds will be disbursed into your account.

If you prefer to sign a paper note, the website will give you an option to request a paper copy, which will be mailed to the address you request. Once the note is completed, signed, and returned to the Office of the University Bursar, the funds will be disbursed into your account.

Please note: These program funds are limited; therefore, once you decline the Health Professions Student Loan, you may not have access to your award later in this school year.


Nursing Student Loan

This is a 5% fixed interest loan. Interest does not accrue and repayment does not begin until 9 months after you cease half-time enrollment.

To accept this loan, review the loan terms on the Nursing Student Loan Disclosure and Self-Certification, complete and sign the Self-Certification form, and return it to the Office of Student Finanical Aid.

If you accept this loan, you must complete and sign a promissory note. An e-mail notification will inform you when your electronic promissory note is available for your signature at the Office of Financial Services website. Once the note is completed and signed online, the funds will be disbursed into your account.

If you prefer to sign a paper note, the website will give you an option to request a paper copy, which will be mailed to the address you request. Once the note is completed, signed, and returned to the Office of the University Bursar, the funds will be disbursed into your account.

Please note: These program funds are limited; therefore, once you decline the Nursing Student Loan, you may not have access to your award later in this school year.


Federal Direct Parent PLUS Loan

The parent is the borrower of this loan, and eligibility is based on a credit check. Interest begins to accrue from the date of disbursement and repayment starts 60 days after the last disbursement for the academic year. For interest rate information, see the Loans page.

More information about application procedures can be found at sfa.osu.edu/loans.


Federal Direct Graduate PLUS Loan

This loan requires a credit check. See the Graduate PLUS Loan page for instructions on initiating or completing a Grad PLUS application. For interest rate information, see the Loans page. Additional information is available on our website at http://sfa.osu.edu/loans/index.asp?tab=gradplus.

In order to receive your funds, you must have completed online entrance counseling and a Master Promissory Note (MPN). Follow the directions on your To Do list to make sure you have completed all necessary steps. You will need your federal Personal Identification Number (PIN) to complete these processes.

To request a federal PIN: www.pin.ed.gov
Entrance Counseling: studentloans.gov
Master Promissory Note (MPN): studentloans.gov

Satisfactory Academic Progress

Federal regulations require that The Ohio State University establish policies to monitor the academic progress of students who apply for and/or receive federal financial aid. Failure to meet the applicable criteria can result in your aid eligibility being cancelled. Additional information is available on our website at http://sfa.osu.edu/howtokeepit/index.asp?tab=f.


Hour Drops, Withdrawals, and the University Refund Policy

Hour drops or withdrawal result in the reassessment of your university charges according to the university refund policy and the recalculation of your financial aid according to federal regulations. The exact consequences to you depend on a number of factors, including the type and amount of aid you have and the official date on which you drop classes or withdraw. Additional information is available on our website at http://sfa.osu.edu/howtokeepit/index.asp?tab=h.


Assumed Aid

This is a renewable award you received in the 2013-2014 school year from an office outside Student Financial Aid, and it is assumed you will continue to receive the award for 2014-2015.

If you are not expecting to receive aid from the program(s) listed on your Award Summary, please notify SFA.


Direct Deposit

To sign up for direct deposit of funds in excess of your university charges, go to your Student Center, accessible via Buckeye Link. Under the Finances section, click on the Account Refund hyperlink. You will be directed to the Sallie Mae Business Solutions website, where you can enter your deposit information. Please contact the Student Service Center for more details or with questions about the direct deposit of your credit balance. If you are not registered for direct deposit, a check for the amount of your credit balance will be mailed to your local address.


Estimated Resource

These are funds which are from sources outside the university. We have learned of the award(s) from the donor, or from the Office of the University Bursar. To determine the names of the estimated resource(s), check your award online at your Student Center, accessible via Buckeye Link.

 

First File the FAFSA