Office of Student Financial Aid & Student Employment

Other Loans

Federal Perkins Loan

This is a federally funded loan program. The U.S. Department of Education allocates funds to the institution to loan to students and awards may be adjusted depending on funding levels.

To Qualify:

• Students must be enrolled at least half time (6 credits or more),
• Demonstrate exceptional need, AND
• Meet the priority award deadline (3/1 before the fall term in which the aid is desired) and packaging parameters established by The University of Akron.

Terms: The current interest rate is 5% and repayment does not begin until nine months after you stop attending school at least half time. If you have been offered this loan, you should look at the amount awarded and decide if you wish to borrow this amount.

If so,

1)Sign the promissory note,

3) Complete the rights and responsibilities form,

AND

4) Return all documents in the enclosed envelope.

Note: If you do not wish to borrow this loan, simply indicate on the Award Proposal and return it to the Office of Student Financial Aid with the promissory note.

ONCE YOU DECLINE A PERKINS LOAN IT IS UNLIKELY THAT IT WILL BE AWARDED AGAIN.

Nursing Student Loan

This is a federally funded loan program. The U.S. Department of Education allocates funds to the institution for undergraduate students.

To Qualify:

• Students must be declared nursing majors,
• Be enrolled at least half time (6 credits or more),
• Demonstrate exceptional need, AND
• Meet the priority award deadline (3/1 before the fall term in which the aid is desired) and packaging parameters established by The University of Akron.

Terms: The current interest rate is 5% and repayment does not begin until nine months after you stop attending school at least half time. If you have been offered this loan, you should look at the amount awarded and decide if you wish to borrow this amount.

If so,

1) Simply indicate the amount you wish to borrow on the promissory note,

2) Sign the promissory note and truth-in-lending statement,

3) Complete the rights and responsibilities form,

4) Complete the pink entrance interview form,

AND

5) Return all documents in the enclosed envelope.

Note: If you do not wish to borrow this loan, simply indicate on the Award Proposal and return it to the Office of Student Financial Aid with the unsigned promissory note.

ONCE YOU DECLINE A NURSING STUDENT LOAN IT IS UNLIKELY THAT IT WILL BE AWARDED AGAIN.

Nurse Education Assistance Loan Program (NEALP)

Funded by the Ohio Board of Regents, this program provides financial assistance to Ohio Students who are enrolled for at least half time study in and approved Ohio nurse education program.

For more information click on this link:
http://www.regents.state.oh.us/sgs/nealp.htm