Federal Stafford Loans

Financial Services > Overview of Loans > Federal Stafford Loans

The first step in applying for federal loans is to complete the Free Application for Student Aid (FAFSA)  (our school code is 003090). Once you complete the FAFSA you will receive your award notification, which will include your Federal Stafford Loans.

The Ohio State University College of Medicine is a Direct Lending school. Students who attend Ohio State University borrow money directly from the Federal government. This is why Ohio State is considered to be participating in the Federal Direct Lending program. This type of borrowing contrasts significantly from other schools, where students are required to borrow their federal loans through a private bank.  Students are not permitted to borrow Federal loan money from a bank if they choose to attend Ohio State.

Most students are eligible for federal loans, regardless of credit history. Also, these loans do not require a cosigner.

Most students are eligible to borrow up to $40,500 each year in Subsidized and Unsubsidized Stafford Loans.  The interest on subsidized loans is paid by the federal government while the student in attending school or in deferment.  Whereas, the borrower is responsible for all the accrued interest on unsubsidized loans while in school or in deferment.

Under the Direct Loan Program, you will have several options for repayment, so you can select the repayment plan that is best for your financial circumstances. Repayment begins six months after you stop attending school or graduate.  For more information regarding repayment options visit the Loan Repayment Options web site.

Subsidized Annual Limits: $8,500

Unsubsidized Annual Limits: $32,000

Maximum Lifetime Limit (includes undergraduate, graduate, and professional school): $189,125

Note: Students may qualify for loan repayment and forgiveness programs that are specifically available to allopathic medicine students. A searchable list is available on the AAMC web site.