INTRODUCTION:

Why Choose the OU-COM Federal Stafford Loan?

OU-COM created a federal Stafford loan program that closely mirrors the best medical student loan program that we could find. By lending money to OU-COM students, we are able to retain any proceeds from the sale of that loan. Schools who act as lenders must use those funds to create need based scholarships. By choosing the OU-COM Federal Stafford Loan, you are not only using one of the most competitive loan programs available, you are also providing need based scholarship dollars for OU-COM students.

How will I save money using the OU-COM Federal Stafford Loan?
The OU-COM Stafford loan has generous front end and back end benefits. 

On the front end, you will pay no origination or guarantee fees. Immediately at first disbursement of the loan, your interest rate will be reduced by .30%, which will bring the interest rate from a fixed 6.8% to a fixed 6.5%. 

On the back end, you will receive a 1.00% interest rate reduction after your first on-time payment. If you choose to use auto-debit (also known as “ACH”) as your method of payment, you will receive an additional .75% interest rate reduction on your loan. 

Taking advantage of both the front end and back end benefits of the OU-COM Federal Student Loan can reduce your interest rate in repayment to a fixed 4.75%.

Details about the OU-COM Federal Stafford Loan:
The OU-COM Federal Stafford Loan is serviced by SallieMae and guaranteed by USA Funds, which provides you with the expertise and infrastructure of well known and respected names in the student loan industry. This also allows you to deal with only one servicer throughout your loan repayment.

Who is eligible to apply?
Only students who will be enrolled at Ohio University College of Osteopathic Medicine are eligible for the OU-COM Federal Stafford Loan.

How do I apply?
To apply for this loan, you must complete your 2007-08 Free Application For Federal Student Aid (FAFSA). In addition, you must complete the 2007-08 OU-COM Financial Aid Application. Incoming students or first time borrowers must complete additional forms. You will find information about and links for all of the forms mentioned above at: http://www.oucom.ohiou.edu/saffairs/fin_aid/fin_aid_stafford.htm