Loans
Federal
Undergraduate Federal Direct Loan program. Complete the FAFSA and be enrolled in a degree seeking program at Franciscan. Freshman can get a maximum of $5,500, Sophomore $6,500, Jr and SR $7,500. Independent students can get an additional $4,000.
Graduate Federal Direct Loan program. Complete the FAFSA and be enrolled in a degree seeking program at Franciscan. Graduates can get up to the academic budget per program and level of enrollment. The maximum is $20,500 however we can do a BBY, Borrower Based Year which means we can increase this amount for summer if there is room in the financial aid budget and the program which is uncommon.
Graduate PLUS loan: This is a separate federal loan for graduates usually when the federal loan program aggregate limit has been met or more is needed in a term and budget allows. There is a credit check. For more information or to apply.
Parent PLUS loan: This is a federal loan for the student in the parents’ name. These are very popular with families. A parent takes the loan out in the student’s name and this loan cannot be transferred to the student. For more information or to apply.
Private
Students and/or Parents can use any private loan that is for educational purposes. However, we have provided a site with a list of banks only for information purposes. Franciscan University does not endorse or receive any funds from these banks. We do have systems in place to make the transfer of funds easier.
Our Financial Aid Office will work with any lender and servicing agency to process a private education loan for our students. Please be advised that these loans may be more expensive than federal loans. The terms and conditions of private loans vary from lender to lender, and we encourage all borrowers to review and evaluate each program.
To ensure timely processing of your loan, please monitor your application once submitted. Each lender’s process may vary, but each step must be completed before a disbursement is made to Franciscan University.
We Recommend
FAST Choice from Great Lakes Educational Loan Services, Inc., has private education loan selection tools that provide basic information on private loans and detailed listings of the various interest rates, borrower benefits, fees and repayment options, allowing you to accurately compare rates and terms side-by-side. We strongly suggest looking at all of your options before making a final selection.
State
Ohio Residents Nurse Education Assistance Loan Program or NEALP. The Nurse Education Assistance Loan Program (NEALP) provides financial assistance to Ohio students enrolled for at least half-time study (or accepted for enrollment) in an approved Ohio nurse education program. NEALP provides funding for nurses who intend to serve as instructors or students who intend to serve as nurses after graduation.
See NEALP for more information.
Alaska Residents A low-cost education loan option for Alaskan students to use for postsecondary education in Alaska, out-of-state, or for career training programs. Students can choose from two payment options:
For more information, check out ASEL