When borrowing for the cost of education, there are a variety of loan options to consider. The following information describes the options available for undergraduate and graduate students 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 atto 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.
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To learn more, visit.
- To receive this funding, complete the following steps:
- Accept the loans funds inon the Financial Aid Dashboard under “Award Offer”
- Complete a Master Promissory Note (MPN) at. Log in using your FSA ID
- Complete Loan Entrance Counseling at. Log in using your FSA ID
Both the entrance counseling and MPN are only completed when borrowing Direct Loans for the first time and do not need to be completed again in subsequent years.
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 atin order to borrow a Direct Parent PLUS Loan.
- To learn more, visit.
- To apply, visit. You will use your parent FSA ID to log in. Once the application is complete you will also need to complete a Master Promissory Note at, selecting “I’m a Parent of an Undergraduate Student”
Private Student Loans
These loans are offered through private lenders. Private loans arein the student’s name, but typically require a cosigner and a credit check of the cosigner to determine eligibility.
Visitto viewONU’s preferred lender list. We work with all private loan lenders. If you choose to work with a lender that is not listed, please notify us so wemay process your loan promptly.
To learn more about how we selected the lenders for our preferred lender list .
Private ParentLoans
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.
Visitto view ONU’s preferred lender list. You are not limited to the lenders listed. We work with all private loan lenders.
To learn more about how we selected the lenders for our preferred lender list .
Graduate Students
Direct Unsubsidized Loans
These are loans available to students from the U.S. Department of Education. A FAFSA must be filed atto 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.
- To receive this funding, complete the following steps:
- Accept the loans funds inon the Financial Aid Dashboard under “Award Offer”
- Complete a Master Promissory Note (MPN) at. Log in using your FSA ID
- Complete Loan Entrance Counseling at. Log in using your FSA ID and select that you are a Graduate or Professional Student.
Both the entrance counseling and MPN are only completed when borrowing Direct Loans for the first time and do not need to be completed again in subsequent years.
Direct Grad PLUS LoansThese are loans that a graduate student can borrow to assist with educational expenses.A FAFSA must be filed atin order to borrow a Direct GradPLUS Loan.
- To learn more, visit
- To apply for this funding, complete the following steps:
- at my.onu.edu. If you do not yet have an 91ֱemail account, please contact the financial aid office to apply.
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- Complete a Master Promissory Note (MPN) for the Grad Plus Loan at. Log in using your FSA ID
- Complete Loan Entrance Counseling at. Log in using your FSA ID and select that you are a Graduate or Professional Student. If you have already completed this counseling for your Direct Unsubsidized Loan it does not need to be repeated.
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.
These loans are offered through private lenders. Private loans arein the student’s name, but require a cosigner and a credit check of the cosigner to determine eligibility.
Visit ELMSelectto view a list of lenders used most frequently by our graduate students (,, or).You are not limited to the lenders listed. We work with all private loan lenders.
To learn more about how we selected the lenders for our preferred lender list .