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The Ohio State University
The Nursing Student Loan (NSL) is a fixed-rate, low interest, need-based federal loan administered byThe Ohio State University. Undergraduate students enrolled in the College of Nursing (in a Nursing program) are eligible for Nursing Student Loan consideration at OSU. Borrowers must be U.S. citizens or eligible non-citizens enrolled at least half-time in a degree program at Columbus campus, maintain Satisfactory Academic Progress (SAP) for financial aid eligibility, and meet all other requirements listed as Student Responsibilities.
To apply for a Nursing Student Loan you must:
Nursing Student Loans are awarded only to students who demonstrate financial need and meet awarding criteria. The award amount cannot exceed the student’s unmet financial need. The maximum annual limit is $3,300 for the first two years of enrollment and $5,200 for the last two years of enrollment with a lifetime aggregate maximum of $17,000.
Please note: Due to limited funding, Ohio State may not be able to award the maximum NSL allowable by program guidelines.
The Nursing Student Loan interest rate is currently 5%. No interest accumulates while you are enrolled at least half-time or during the nine-month grace period. Repayment of principal and interest begins nine months after you graduate, withdraw, or drop below half-time enrollment. Borrowers may be allowed up to ten years for repayment of this loan.
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 Student Financial 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 Student Loan Services, the funds will be disbursed into your account.
If you wish to decline or reduce the loan, you may complete the Report Your Changes form or contact us via your osu.edu e-mail account at firstname.lastname@example.org.
You may receive NSL assistance as long as you continue to meet all eligibility criteria, including SAP, for receipt of federal aid.
Please note: If your FAFSA information changes as a result of verification, your award may change.
Once you graduate, withdraw, or drop below half-time enrollment, you are required to complete an exit interview to understand your rights and responsibilities and repayment terms. If you fail to repay your student loan(s) you may default on your loan. Default occurs when you become 270 days delinquent in making payments on your loans. If you default:
To complete the Online Exit Interview, go to the Office of Financial Services website and click on "Online Exit Interview" in the Quick Links menu.
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Phone: (614) 292-0300 Toll-free: (800) 678-6440 to reach SSC | Fax: (614) 292-5587 | E-mail: email@example.com
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