Get the College Financial Aid You Need

Lenders and Loans for Ohio College Students

The State of Ohio partners with Student Lending Works to make sure all Ohioans have quick and affordable access to college loans. Truth is this is not the only lender available to you, but because SLW is a non-profit and works off tax-exempt funds, you CAN usually get your loans for less.

Types of Student Loans Available to Ohio Students and Parents

When it comes time to lay out your college financial blueprint you must understand the types of education loans you’ll find available to you:

  • Federal student loans are guaranteed by the U.S. government and are widely available. Always apply for these first, period.
  • State-sanctioned alternative student loans are available through some state higher education agencies and offer a reliable source of supplemental money when federal loans fall short of meeting your complete education bill.
  • Private student loans are those proprietary loan products offered by many private lenders, even many hometown banks. These should be a final resort and entered into with eyes wide open. Be careful when shopping and try to avoid built-in fees that could measurably drive up the final cost of the loan, risky interest rates and loan “extras.”

Ohio Federal Student Loan Products

SLW offers the Federal Family Education Loan Program (FFELP), which includes:

  • The Stafford Loan is the most popular and widely available student loan in the country. Two versions—subsidized and unsubsidized—are provided to meet the financial needs of students with financial need as well as those without. This is a no-brainer student loan and available to both undergrads and grads.
  • The Grad PLUS Loan picks up where the Stafford Loan leaves off. In other words, if you are an Ohio grad student and you’ve met your Stafford Loan borrowing maximum then the Grad PLUS is the next step in federal aid. If your credit is non-existent or poor, consider borrowing with a reliable and credit-worthy co-signor.
  • The Parent PLUS Loan is a crucial product for cash-strapped parents of dependent undergrads. Once your child’s federal loans are paid out and you’re still left with a hefty education bill, your best bet may be the Plus Loan.

SLW also offers borrowers college planning tools, online account management, loan applications, repayment guidance, student loan calculators and current loan industry news. For more information on Ohio student loans visit the SLW website.