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Student Loans


When borrowing for the cost of education, there are a variety of loan options to consider. The following information describes the options available and provides links for completing the necessary documentation.

 

Undergraduate

Direct Subsidized and Unsubsidized Loans
These are loans available to students from the U.S. Department of Education. A FAFSA must be filed at www.fafsa.gov to qualify for Direct Subsidized and Unsubsidized Loans. If a FAFSA is filed, these loans will automatically be added to a student's financial aid award package based on eligibility per federal regulations. 

  • To learn more, visit studentaid.ed.gov/types/loans/subsidized-unsubsidized.
  • To receive this funding, visit https://studentloans.gov/myDirectLoan/index.action and complete both the Entrance Counseling and Loan Agreement (MPN). You will use your student FSA ID to log in. Both the entrance counseling and loan agreement are only completed when borrowing Direct Loans for the first time and do not need to be completed again in subsequent years.
  • ONU students must also accept the Direct Subsidized and/or Unsubsidized Loans annually through Self-Service Banner using the following steps:
    • Log in to your Self-Service Banner account
    • Click the "Financial Aid Services" tab
    • Click "My Financial Aid Award and Account Information"
    • Click "Accept my Current Financial Aid Offer"
    • Select the aid year and click "Submit"
    • Under the "Accept Award Offer" tab, click the dropdown box next to any award offer to accept or decline your award offer. If no boxes appear, funds have already been accepted.

Direct Parent PLUS Loans
These are loans that a parent (or step-parent) can borrow on behalf of their student. A FAFSA must be filed at www.fafsa.gov in order to borrow a Direct Parent PLUS Loan. 

Private Student Loans
These loans are offered through private lenders. Private loans are in the student’s name, but require a cosigner and a credit check of the cosigner to determine eligibility. 

Visit ELMSelect to view a list of lenders used most frequently by our students. You are not limited to the lenders listed. We work with all private loan lenders. If you choose to work with a lender that is not listed, please notify us so we may process your loan promptly.

Private Parent Loans

Private parent loans are offered through private lenders. These are private loans that a parent or sponsor can borrow on behalf of a student and a credit check is used to determine eligibility. 

To learn more about the private parent loan lenders used most frequently by students and their families please visit ELMSelect. You are not limited to the lenders listed. We work with all private loan lenders. 

 

Graduate

Direct Unsubsidized Loans
These are loans available to students from the U.S. Department of Education. A FAFSA must be filed at www.fafsa.gov to qualify for Direct Unsubsidized Loans. If a FAFSA is filed, these loans will automatically be added to a student's financial aid award package based on eligibility per federal regulations. 

  • To learn more, visit studentaid.ed.gov/types/loans/subsidized-unsubsidized.
  • To receive this funding, visit https://studentloans.gov/myDirectLoan/index.action and complete both the Entrance Counseling and Loan Agreement (MPN). You will use your student FSA ID to log in. Both the entrance counseling and loan agreement are only completed when borrowing Direct loans for the first time and do not need to be completed again in subsequent years.
  • ONU students must also accept the Direct Unsubsidized Loan annually through Self-Service Banner using the following steps:
    • Log in to your Self-Service Banner account
    • Click the "Financial Aid Services" tab
    • Click "My Financial Aid Award and Account Information"
    • Click "Accept my Current Financial Aid Offer"
    • Select the Aid year and click "Submit"
    • Under the "Accept Award Offer" tab, click the dropdown box next to any award offer to accept or decline your award offer. If no boxes appear, funds have already been accepted.

Direct Grad PLUS Loans
These are loans that a graduate student can borrow to assist with educational expenses. A FAFSA must be filed at www.fafsa.gov in order to borrow a Direct Grad PLUS Loan.

Private Student Loans

These loans are offered through private lenders. Private loans are in the student’s name, but often require a cosigner and a credit check of the cosigner to determine eligibility.

Visit ELMSelect to view a list of lenders used most frequently by our graduate students (law students, MSA students, or fifth- and sixth-year pharmacy students). You are not limited to the lenders listed. We work with all private loan lenders

Financial Aid

Melanie Weaver

419-772-2272
Fax: 419-772-2313
financial-aid@onu.edu
Weber Hall-2nd Floor
525 South Main Street
Ada, Ohio 45810
Monday:
8 a.m.-5 p.m.
Tuesday:
8 a.m.-5 p.m.
Wednesday:
8 a.m.-5 p.m.
Thursday:
8 a.m.-5 p.m.
Friday:
8 a.m.-5 p.m.
Saturday:
Closed
Sunday:
Closed