State and Federal Financial Aid Options

Depending on their eligibility, Urbana University CAPS students have several options for financing their education through federal and state resources. Availability depends on whether you are an undergraduate or graduate and how great your need is.

Undergraduate Federal Financial Aid Options

  • Federal Unsubsidized Stafford Loan – Interest begins to accrue as soon as classes start, and you need to make payments on the interest even while you are studying. This loan has an interest rate of 6.8% as of March 2013.
  • Federal Subsidized Stafford Loan – You have a six-month grace period from the end of your studies until repayment begins. Interest only begins to accrue after you graduate. As of March 2013, the interest rate on this loan was 3.4%.
  • Perkins Loans - Undergraduate students may be offered up to $5,500 yearly at a rate of 5% interest. Each school that participates in the Perkins Loan program has a maximum yearly amount of funds that can be awarded, so if you apply late, you may not be awarded a Perkins Loan even if you meet the eligibility requirements.

Federal Financial Aid Options for CAPS Graduate Students

  • Federal Unsubsidized Stafford Loan –Interest begins to accrue as soon as classes start, and you need to make payments on the interest even while you are studying. This loan has an interest rate of 6.8% as of March 2013.
  • Graduate PLUS Loan – Payments are deferred while you are studying with at least a half-time course load. After you leave your program (or drop below half-time), you have a six-month grace period before repayment begins. PLUS loans are offered based on an evaluation of your credit history and have a fixed interest rate of 7.9%. Other fees may apply.

Military Student Financial Aid

Military students and their family members can use Post-9/11 GI Bill benefits to cover the costs of continuing their education with Urbana.

Additionally, National Guard members earning an undergraduate degree may qualify for the Ohio National Guard Tuition Grant. Call 1-800-GO-GUARD, contact your local Ohio National Guard Armory, or visit www.ohionationalguard.com for more information.

Private Student Loans

Private banks and lenders can help you finance your education. Urbana University recommends you visit the Ohio Private Loan Marketplace website (http://ohio.privateloanmarketplace.com/urbana) to compare different student loan products on offer.

You are free to choose the private lender whose terms suit you best. We will need you to notify the financial aid department of your approval for a loan and provide us with certification information.

Need Financial Aid Help?

At Urbana University, we’re here for U. This includes helping you find ways to pay for your degree. To discuss how you can meet the costs of college, contact our Financial Aid department today: 937-484-1355 or financialaid@urbana.edu.